Martin Lewis explains trick to get hundreds back on your credit card at no cost – The News

 Thanks to the way cards work, and especially credit cards, firms get paid a small fee when you use them in shops  And that means some card providers are happy to pass money back to you every time you use them  This can take the form of air miles, vouchers, discounts at specific shops or even straight cash  That means – provided you make absolutely sure you pay off in full each month – you can effectively get paid for doing exactly what you did before, just with a different card  The better news is that financial guru Martin Lewis has just explained exactly which ones you should go for to get the biggest returns  “The Amex Platinum Everyday gives 5% cashback on all spending in the first thee months, then up to 1% after There is a 22.9% APR if you don’t fully repay,” Martin told viewers of This Morning on Monday  “You’ll need to spend £3,000 or more a year on it to get any cashback. Though remember Amex isn’t accepted in quite as many places as Visa and Mastercard ”    If that seems a bit much, there are other options too.  Mr Lewis said: “New M&S Reward cardholders get 2,000 bonus M&S points worth £20 if you spend anything on the card in the first 90 days  “Plus there’s a 500 bonus point voucher for M&S spending, so buy a banana in M&S and you’ve made £25 There is 19.9% APR if you don’t fully repay.  “As well as paying cashback on all spending, the Tandem credit card is a specialist cheap overseas card  “It doesn’t add the usual 3% exchange rate fee and you’ll get the same near-perfect exchange rate the banks do when you spend on it overseas There is 18.9% APR if you don’t fully repay.”  But while offering a little extra for not much work, Martin did have a couple of warnings Read More Martin Lewis’ top money advice  Firstly, the best cards are only available to people with good credit scores – so if possible use an eligibility checker before applying  That’s because applying for a lot of cards at once, especially if you’re rejected, can make you look desperate to lenders and therefor hurt your credit ratings further  But the biggest warning was to come.  “The most important thing to do is neuter your credit card’s ability to charge you interest, and turn it into a pure transaction card,” Martin told subscribers of the weekly MoneySavingExpert com newsletter last month.  “Preferably do it by direct debit, so you never forget to make repayments Also, never withdraw cash. Do that and the card is free, and you’re paid to spend ”  He added: “If you have impulse control issues or don’t trust yourself, don’t risk switching to a credit card – getting yourself into a steaming pile of unneeded debt is a bigger risk than a lack of protection ”

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