One important job we frequently travellers do is maximise point earning through credit cards, and that’s why Curve is very popular in the UK. If you usually have a lot of bills to pay via bank transfer (BACS), you may be interested in this company Bluechain.
Here is how Bluechain works: when you’ve got a bill pay to a business (e.g. rent and service charge), Bluechain will take a credit card payment (subject to a fee) from you, and then make the bank transfer on your behalf. Bluechain earns a commission and you earn the points, simple.
There is a similar and better known business called Billhop. They charge a higher fee and no longer accept personal customers however, so less relevant nowadays.
Bluechain charges 2.3% on Amex payment and 2.5% on Visa / Mastercard. The Amex fee is lower as a result of the collaboration between the two companies.
Even at 2.3% it’s not profitable under most circumstances, since no UK card can generate a 2.3% rebate on its spend. There are a few scenarios where it might make sense:
- You need to manufacture some spend for say the sign-up bonus or anniversary award of a credit card, which you can’t hit otherwise
- You are paying bills for your business, and with the corporate tax deduction your cost is effectively reduced to 1.x%
If you have a more rewarding credit card, e.g. the U.S. ones, the maths could also change. I’ve never used Bluechain myself however and I don’t know if they take all credit cards.
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