Skip to main content

*Interactive Investor Offer: No platform fee for 1 year*


How much do you pay for your investment platform? Fancy a free one?
Simply click the link below, open up an ISA/SIPP/GIA then either fund £5k or transfer in from existing provider and you'll get the platform free for a year, saving potentially £360
https://ii.co.uk/recommend-ii?ii_referrer=13iio6o6r2279-8930g46kttxm

Contact

Cashback Cards - American Express

Cashback credit cards are a great way of earning a little back on your everyday spend.

Historically I have used the Natwest Rewards Credit Card which offers:
- 1% in Rewards on your supermarket spend
- Earn 0.5% everywhere else you shop, including supermarket petrol stations

The 0.5% has recently been lowered to 0.25% which has prompted me to look further afield for a good card to use for my regular spending.

Enter American Express!


Currently, Amex have a couple of cards on offer which offer a healthy amount of cashback, especially in the first few months of taking the card out.

Below I explore which one is the best depending on your normal spending

If you wanted to go ahead with either of these, then you can get an extra £10 if you use the referral link here: http://amex.co.uk/refer/cHRISSrmQQ?XL=MNANS




Platinum Cashback Everyday Credit Card:

-Fee free

-Spend £0 to £5,000 and receive 0.5% cashback on purchases

-Spend over £5,000 and receive 1% cashback on purchases



Platinum Cashback Credit Card:


-Annual Fee £25

-Spend £0 to £10,000 and receive 1% cashback on purchases

-Spend over £10,000 and receive 1.25% cashback on purchases



From my calculations it seems that 9k spend per year is the point that Platinum becomes better than Platinum Everyday.





Personally, I've had the card since the end of January and the below chart shows my current process on the first 3 months spend. As you can see I am bang on target to hit the maximum amount allowed under 5% cashback.

If I am falling short towards the end then I will just bring some spending forward slightly, like fill up the cars or buy some toilet roll etc.


Again, if you wanted to go ahead with either of these, then you can get an extra £10 if you use the referral link here: http://amex.co.uk/refer/cHRISSrmQQ?XL=MNANS

Comments

Popular posts from this blog

All about me

I'm a 38 year old father of 2 young children. I  currently live with my wife and kids in Wakefield, West Yorkshire and work  in Cyber Security.  I've always been obsessed with frugality, optimising time and money and discovered the FIRE movement (Financial Independence Retire Early) in the mid 2010s. Over the past few years,  I have pursued a heavy savings rate and have directed this into savings, investments and overpaying the mortgage. Twitter Account:  https://twitter.com/Dad_on_FIRE Key milestones: 2022 - Mortgage free!  10 years after buying our 1st house. 2023 - Coast FIRE In 2023 I had enough in my pension that it would coast up to a figure I would be happy with at age 55 (circa £1m) 2024 - Hit  £1m net worth 2025 - Took 8 weeks off work (through Unpaid Parental Leave) My Net Worth journey: Most people pursuing people have a figure, an overall number to achieve. My FIRE aims however, are currently not set in stone, largely down to having...

March 2024 update - Millionaire!

  In this update we have: Reached Millionaire status on my net worth Harvesting gains from Crypto Platform Incentives Holiday plans Overview: (click to enlarge) (click to enlarge) Net worth update:  Current net worth: £1,030,167 Up £28k from last month, and up a massive £70k from 2 months ago!!  My last blog post was probably a bit premature as a couple of days after it, I breached the millionaire net worth figure!  When I started out on this journey less than 10 years ago with a rough net worth of just over £100k I didn't think I'd be saying that as a 37 year old with two small kids that I'd be a millionaire! Also I'm not sure whether it is mainly due to "millionaire" status not being the same as it was when I was young (thanks inflation/money printing! #BitcoinSolvesThis ), or whether it is testament to our concerted saving and investing over the past few years, probably a mix of both. Either way I'm extremely proud of what me and wife have achieved, and...

FIRE Bridge Calculator

The 4% rule is all well and good, but I've never really got to grips with this as a tangible model for calculating FIRE mainly because of the complications when working out the restrictions on when you can access the pots at different ages (predominantly pensions). Instead I prefer to break down FIRE strategy and planning into two distinct sections: Pension provisions . Including overall pot, what this might work out to be in retirement, and what age you can access. Bridge Pot . This will get you from your FIRE age to your above Pension pot access (above) In the past I've developed a pension calculator for the former , and here is my calculator for the latter aspect. What I've developed here is an Excel sheet which works out what you need between your desired FIRE age and your pension pot access age, aka your "FIRE Bridge pot". This has helped me to visualise when I could 'push the button' on FIRE, how much I could live off in the 'Bridge years' an...