Maximiles Credit Card review 2020
Earn more Maximiles points and get your rewards faster with this credit card.
Finder rating: ★★★★★
Doing its job: 4/5
In a nutshell:
Up to 5,000 points
0% interest on balance transfers
|Issuer||Creation Financial Services|
|Rep. APR||17.9% (variable)|
|Loyalty scheme||Maximiles points|
|Incentive||Earn 1 Maximiles point for every £1 spent. 5000 bonus points when you make your first card purchase.|
|Purchases||0% for 3 months reverting to 17.9%|
|Purchases interest-free period (days)||50|
|Balance transfers||0% for 9 months reverting to 17.9%|
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
Maximiles is an online rewards programme which you earn loyalty points for by completing online surveys and shopping at a wide range of retailers. You can then redeem them for a selection of rewards, from electronics to beauty products.
If you’re a bit of a (digital) shopaholic, this credit card can offer you monthly credit and a big boost to your Maximiles point balance, without any annual fee.
The introductory 0% for 3 months reverting to 17.9% on purchases makes shopping even more appealing, but don’t forget to clear your balance before the 0% period is over, as it will then start to accrue interest at the card’s standard rate.
However, even at that point you’ll be able to enjoy some flexibility – up to 50 interest-free days for each billing cycle, provided you pay off your bill in full every month.
If you’re considering transferring the balance you have on another credit card to this one, be aware there’s a balance transfer fee of 5% (min. £5). You won’t be charged any interest on your balance for the first 9 months.
As this card is on the Mastercard network, it’s accepted in more than 40 million locations worldwide. You’ll also be able to enjoy access to Priceless Cities experiences.
Pros and cons
- Three months to spread the cost of purchases
- Earn points on day-to-day spending
- Up to 5,000 points introductory bonus
- No annual fee
- Minimum annual income requirement of £9,600
- Applicants with low credit scores are unlikely to be eligible
- Relatively high balance transfer fee
- You may be offered an opening credit limit as low as £100
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When it comes to repayments, you can make manual repayments online or over the phone (0371 376 9214), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
If you’re planning on making a large purchase or balance transfer when you open the card, you can divide the cost of these by three (for purchases) or nine (for balance transfers) and set up a direct debit for this amount. This will ensure your balance is cleared before you have to begin paying interest on your debt (assuming you don’t use the credit card to fund any more purchases).
Choose from the following direct debit options for your monthly repayments:
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
How to apply for the Maximiles Credit Card
Unsurprisingly for a card dedicated to online shopping, you can apply online. You’ll need to provide the following:
Before applying, you’ll be able to check your eligibility: you’ll be asked to fill in a form with your data and will be told how likely you are to be accepted without impacting your credit score.