Let the bank pay you!!! - Updated Nov 09 (Shell Mastercard)

Member Name: Pharmtastic

Product:	Shell Mastercard
Date:	22/10/08 (194 review reads)
Rating:

Advantages: Good cashback, especially on fuel

Disadvantages: High APR if you don't clear balance

The Shell MasterCard is a credit card issued by Citigroup. It works in a similar way to most other credit cards issued in the UK, but it does have a perk which I quite like [see later].

As far as I can see, there might be three reasons for choosing one credit card over another:

* A low interest rate if you don't pay off your balance
* A loyalty scheme of one type or another
* The positive image of certain cards [Amex Platinum etc]

If you don't plan to pay off your balance, you need a low APR [preferably 0%] card - this is not one of those, and you should check out Moneysupermarket or similar for the current best buys.

If you are able to pay off your credit card on a monthly basis, then you may as well choose a card that gives the most back to you. Some give AirMiles, some give hotel breaks: I prefer to get cash!!

This card gives cashback on two levels. Most purchases will earn cashback at rate of 1%, which is one of the most generous around at the moment. However, if you but fuel in a Shell garage, the cashback increases to 3p per litre [my card actually gives 3%, but from what the website says, it must have changed recently].

Obviously, it wouldn't make sense to buy petrol from a Shell garage if your local supermarket was 4p a litre cheaper, but if the prices are the same, you may as well.

We run two cars and spend about £2,500 per year on fuel: this would give a saving of £75 pa.

On my card, the cashbash is credited to the account each month. The website now says that the cashback is now credited against the next fuel purchase [though it is live for six months, giving plenty of opportunity to fill up].

Current APR is 16%, so not a good deal for those who carry a balance forward. You can set up a direct debit to ensure you pay in full without forgetting.

##Update Nov 09##

The cashback rates have been dropped: It's now 1% on petrol, and 0.5% elsewhere. This makes it no better than other cashback cards [esp Amax Platinum], so prob no worth applying for one if you haven't already got one. Cheers
Also on Ciao

Summary: Worth a look if yu drive a lot