Cashback and credit card
I see a lot of negative posts around cashback and credit card, but I don't get it. I'm probably missing something, so can anyone let me know what's a better option then?
In my case, I don't want to faff around switching suppliers every now and then. I don't mind having multiple credit cards and bank accounts, but not switching them too regularly.
I use chase credit card for fuel, train, public transport and eating out, which gives about 2% return. I use employee perks most of the time, for groceries as that gives better discounts (4-8% depending on outlet), and purchase that usingavios credit card (Barclays; equivalent to ~1% cashback if you use it for flights or nectar at Sainsbury's).
Savings: I just maintain low balance in current accounts and dump the rest in index funds + money market funds, which gives better returns than any savings account long term (bar regular savers, but usually they're temporary promotional ones, which again is a faff to switch).
Is there any other card that gives better cashback + the benefit of zero fees abroad? I have amex platinum everyday cashback, but post the 5% cashback during temporary sign on period, it's much lower cashback. I'm aware of Santander, but that's only a 1 year promotion, no? (Same for most other ones that come close).
I feel like this is actually a great offer, but understated because we had expectations of it being better and the initial no strings attached 1% cashback was great, but I think I'll actually earn more cashback this way. Why the hate?