Barclaycard has bolstered its presence in the cashback credit card market with a deal offering 10% cashback on all fuel purchases. But is it worth it?
The 10% cashback is available on a variety of cards, including the Best Rate Platinum-with-balance transfer and Platinum-with-purchase Visa, and is in addition to Barclaycard’s existing Freedom rewards scheme.
Which? credit card expert Martyn Saville commented: ‘While the extra 10% petrol cashback deal will be a welcome bonus for anyone taking out a Barclaycard for other reasons, it’s only available on fuel purchases made before 31 August 2011 and is capped at a total of £30. As such, on its own it feels like a promotional gimmick that detracts from Barclaycard’s strength as a leading provider of low-rate cards, 0% balance transfer deals and 0% purchase deals.
‘If you’re looking for a 0%-on-purchases card, for example, the length of the 0% deal is most important, not the fuel cashback promotion. And if you’re considering the Initial Visa card, under no circumstances should you judge the card solely on the cashback deal – it comes with a APR of 29.9%, which, if you don’t pay off your bill in full every month, will soon wipe out the benefit of the cashback.
‘The overall message is that the new £30 from Barclaycard could be a welcome bonus, but make sure you look at the overall value of the card and ensure it’s right for you in the longer term too.’
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