Best Financial Markets Analysis Article Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk - the leading independent financial comparison, site comments: “Believe it or not there are only 10 weeks before Christmas. Looking round the shops, even now, you can see the decorations starting to dominate the floor. Shops are ready for the festive season, so why not prepare your own finances too? By making the most of the credit card deals available, you could even profit from your Christmas spending.

“You can make your money work for you and earn cashback on your spending. With a variety of credit cards in the market that offer cashback, it is just a case of finding the deal that is right for you.

“The highest rate of cashback is from Abbey, at 5%, but there is a restriction. The 5% is only offered on the first £1K that you spend in a supermarket until 31 January 2008, limiting the amount you can gain over that period to a maximum of £50. This deal is revolving so at the end of January a new cashback incentive will be launched.

“The card that could earn you the most amount of cashback over the next three months is from Capital One. This offers an impressive 4% cashback over the first three months, just enough time to cover your Christmas spend and the January sales. Spending £1K over this period will earn you £40, not a bad return for going about your day-to-day shopping.

“The beauty of this card is you can spend anywhere and there are no limits to the maximum cashback you can gain. After the initial three-month period, Capital One will continue to offer a competitive 1% cashback, meaning for every £1K spent you can pocket £10 in return.

“However, these cards will only truly benefit those that pay their balances off in full every month, as any interest paid on these cards could soon outweigh the benefits gained from the cashback.

“There are very few cards that will offer a 0% purchase deals in addition to a cashback scheme. Yorkshire BS for example offers 0% on purchases for six months and 1% cashback on up to £2K (0.50% over £2K). So be extra savvy and keep your savings earning interest over the six months until you need to pay the balance off, making sure of course that you meet the minimum payments each month.”

www.moneyfacts.co.uk - The Money Search Engine

Only logged in users are allowed to post comments. Register/ Log in

The Market Oracle is a FREE Financial Markets Forecasting & Analysis web-site.
(c) 2005-2024 MarketOracle.co.uk (Market Oracle Ltd) - Market Oracle Ltd asserts copyright on all articles authored by our editorial team and all comments posted. Any and all information provided within the web-site, is for general information purposes only and Market Oracle Ltd do not warrant the accuracy, timeliness or suitability of any information provided on this site. nor is or shall be deemed to constitute, financial or any other advice or recommendation by us. and are also not meant to be investment advice or solicitation or recommendation to establish market positions. We do not give investment advice and our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to enter into a market position either stock, option, futures contract, bonds, commodity or any other financial instrument at any time. We recommend that independent professional advice is obtained before you make any investment or trading decisions. By using this site you agree to this sites Terms of Use. From time to time we promote or endorse certain products / services that we believe are worthy of your time and attention. In return for that endorsement and only in the cases where you purchase directly though us may we be compensated by the producers of those products.