Frequently Asked Questions

Some Amex cards (American Express Cards) charge a fee for having the card and, because American Express provide their own cards, fund all the transactions made on their cards, and charge retailers to process their payments, they can be an expensive and less convenient payment method. American Express cards tend to be popular for the rewards and cashback that comes with using them. Many retailers - especially smaller, independent retailers - don’t accept Amex as a payment method, meaning that you may either want to carry cash or a Visa or MasterCard as an alternative. Visa and MasterCard help manage the transactions between retailers and banks, and so tend to be less costly to use, which makes them more widely accepted.

A cashback credit card pays you a percentage back of qualifying purchases, allowing you to earn money on your credit card spending.

This varies depending on the card provider, any offers on at the time of applying, and your personal credit rating. Always compare providers before applying for a cashback credit card.

This depends on the provider, any promotional offers on at the time of applying, and your personal credit rating. Always compare providers before applying for a cashback credit card, to make sure you get the best rates and rewards for you.

Depending on the credit card provider, and the type of points collected, these may or may not expire. For most rewards programmes, points will not expire as long as the card is active, however, for airline rewards, there is usually an expiry period on points collected.

Depending on the provider, they may offer bonus points when you make qualifying transactions with certain retailers. Usually your provider will notify you of any promotions and special campaigns where you can earn more points. Always check with your chosen provider, as terms change from time to time.

Going ahead with an application for a balance transfer credit card with no interest will likely mean a hard credit search will be completed on your credit report. Hard credit searches will be visible to others. Many hard searches in a short period can be viewed negatively and impact your score.

However, using an interest free balance transfer credit card correctly to reduce debt over time will improve your finances and credit score as you prove you can manage debt. Not making your minimum monthly repayments will hurt your credit score. Your credit report will show missed payments and defaults for up to 6 years.