Martin Lewis’ Money Saving Expert reveals how to get FREE £165 Amazon & Sainsbury’s cashback – but it ends soon
MARTIN Lewis’ Money Saving Expert site has revealed how to get free £165 Amazon and Sainsbury’s cashback – but you’ll want to act quickly.
In the post, the financial expert, 52, shared that bargain hunters can cash in on the deal by signing up for a particular credit card.
American Express customers can access the perks if they sign up for an Amex Gold credit card before Tuesday 14 January.
It comes as part of a temporary sign-up points bonus offered by the bank.
This entitles new customers to 30,000 bonus points – a significant improvement on the usual 20,000 offered through the deal.
To be eligible, you must not have had an Amex card in the last two years – and you must spend £3,000 or more in the first three months of having the new Amex Gold card.
One point is earned per pound spent – so by the end of the three months, customers will have at least 3,000 points plus the 30,000 point bonus.
This is enough to be exchanged for £165 cashback – redeemable at Amazon, Sainsbury’s, M&S or Curry’s.
The points can alternatively be used for other perks like airline points.
For example, customers could earn 33,000 Avios (for BA or Qatar), 33,000 Virgin points, 33,000 Etihad Guest miles, or 24,750 Emirates Skywards miles.
Or, you can put your bonus towards hotel points – such as 66,000 Hilton Honours points, 49,500 Marriott points or 99,000 Radisson points.
And, aside from the extra points, signing up for an Amex Gold card by January 14 can entitle you to some other tempting benefits, including four free airport lounge passes a year.
These are worth around £50 each, should come within six weeks of acceptance and are usable in numerous airport lounges worldwide.
In addition, new customers can get two £5 Deliveroo cashbacks a month – worth up to £120 per year.
However, Martin cautioned his followers that the Amex Gold card does come at a price.
Although it is free for the first year, it is £195 per year thereafter – which can quickly creep up on unsuspecting customers.
And the financial guru also reminded readers that credit cards offer deals in order to increase your spending – and therefore the interest they can earn.
To mitigate the risk of losing money overall, Martin advised paying off your card in full every month.
He said: “Credit cards want you to spend on them, so much so that some pay you to do it.
“Yet there’s a way to neuter their ability to charge interest.
“Set up a Direct Debit to repay the card IN FULL each month and then you can reap the profit and not pay a penny in interest (just don’t withdraw cash on it, bust your credit limit or see it as an excuse to overspend).”
Martin doubly reiterated the importance of paying off your debts in their entirety, by reminding people that if they spend £1,000 and pay off £999, they’ll still likely pay interest on the whole £1,000 – not just the £1 left over.
The Amex deal comes after First Direct also brought back its £175 free cash offer to celebrate the New Year.
The bonus is given to all customers who switch to First Direct’s 1st Account using the Current Account Switch Service, if they make at least two Direct Debits or standing orders.
How do I switch bank accounts?
SWITCHING bank accounts is a simple process and can usually be done through the Current Account Switch Service (CASS).
Dozens of high street banks and building societies are signed up – there’s a full list on CASS’ website.
Under the switching service, swapping banks should take seven working days.
You don’t have to remember to move direct debits across when moving, as this is done for you.
All you have to do is apply for the new account you want, and the new bank will tell your existing one you’re moving.
There are a few things you can do before switching though, including choosing your switch date and transferring any old bank statements to your new account.
You should get in touch with your existing bank for any old statements.
When switching current accounts, consider what other perks might come with joining a specific bank or building society.
Some banks offer 0% overdrafts up to a certain limit, and others might offer better rates on savings accounts.
And some banks offer free travel or mobile phone insurance with their current accounts – but these accounts might come with a monthly fee.