Over 110 UK credit cards independently reviewed by Fiscus Credit Cards
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Credit Card from Texaco
This card was last reviewed on Wednesday, 15 March 2006.
| Overall Rating: |
 |
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| Issued By: |
Texaco |
| Card: |
Credit Card |
| Network: |
Mastercard |
| Category: |
Rewards |
| Acceptance: |
 |
| Insurance: |
- |
| Service: |
- |
| Comments: |
|
| Pitch: |
"Upto 0.5% cashback on fuel purchases" |
| Typical APR: |
14.9% |
| Interest Free Days: |
51 |
| Minimum Repayment: |
- |
| Annual Fee: |
- |
| APR: |
3.9% |
| Period: |
for the life of the balance (subject to terms) on balances transferred within 6 weeks of account opening. |
| Charges: |
For each balance transfer there is a 2% handling fee (maximum £50). |
| APR: |
- |
| Period: |
- |
| Type: |
Cashback; rate doubled on fuel purchases |
| Description: |
- |
| Reward Rate: |
0.50% |
| Period: |
- |
| Aimed At: |
Aimed at high mileage Texaco customers |
| Review: |
Update 1st October 04 Accucard have recently dropped their cash back rate from 0.8% to 0.5%, with a corresponding fall from 1.6% to 0.8% for the Texaco fuel cash back. As a result, this credit card is a lot less attractive than when we originally reviewed it a few weeks ago. You will almost certainly now get a better level of cash back by using an American Express card for your purchases. We have now downgraded the review from 5 to 3 stars. Original review The Texaco credit card is aimed at motorists who want to get cashback every time they fill their tank. This credit card is based on the Accucard self-select model, which allows you to choose between a higher level of cashback or paying a lower rate of interest. The Texaco credit card also offers a generous balance transfer deal of 3.9% for the life of the balance, on all balances transferred within 6 weeks of account opening. As with all credit cards, we strongly advise you to make a choice between which benefit is most important - either taking advantage of the balance transfer offer, or using the card to earn cashback. If you try and combine both, you will end up paying more interest on the balance transfer than you need to - read our balance transfer advice section for more details. On first appearances, 1.6% cashback on your purchases looks very generous. If you do not regularly drive past a Texaco filling station, will this offer still be worthwhile? A key point to remember is that many supermarkets also offer generous petrol discounts, either when a certain amount is spent in-store, or as part of their own loyalty schemes. If your local Texaco station still offers better value than the supermarkets, then this credit card will certainly be worth considering, especially as 0.8% cashback on other purchases is still very generous. The only other credit cards which offer a higher rate of cashback than the Texaco card are issued by American Express. For example, the American Express Platinum credit card, which is aimed at very high spenders, does offer a cashback rate of 2% on all purchases above £7,500 per year. Although American Express is not as widely accepted as MasterCard, this cashback rebate does at least apply across all purchases, and just petrol. Verdict For anyone who spends (or intends to spend) a large amount of money at Texaco petrol stations, this credit card is an absolute must have. Even without the Texaco cashback bonus, 0.8% rebate is extremely competitive, and this alone would make the card one of the leading cashback offers outside American Express. Note that the 9.9% interest rate offer applies to the "low interest" card selection option, and does not include any cash back. The typical interest rate with cash back is 14.9% |
| Verdict: |
- |
| Overall Rating: |
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