Cashback Cards
| Card Supplier | Cashback | Typical APR | More details & Apply |
|---|---|---|---|
 Barclaycard Platinum Cashback with 12 Mth BT |
4.00% up to £750 of monthly spend until 31/07/2008. 0.50% up to £6000 of monthly spend. Maximum of £360.00 cashback paid per year. Cashback paid Anniversary into Card Account. 0.5% cashback on supermarket and petrol spend until 1.1.10. | 15.90% APR | |
 American Express Platinum MoneyBack Credit Card |
5.00% up to £4000 of yearly spend for introductory period of 3 months. 0.50% up to £3500 of yearly spend. 1.00% on £3501 to £10000 of yearly spend. 1.50% after £10001 of yearly spend. Cashback paid Anniversary into Card Account. | 18.90% APR |
Data updated Friday 16th May 2008 04:00:02
There are many different types of rewards cards available on the market these days, some of which offer points that can be exchanged for goods, some which offer travel rewards, some that offer discounts, and various others.
Search for the latest credit cards that offer cash back by visiting our
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One of the most popular types of rewards based credit card is the cashback credit card, which enables the consumer to earn cashback for spending on the credit card.
Cashback credit cards are a great way for consumers to actually make money on their credit card spending, but there are some things that you need to bear in mind in order to enjoy the benefits of a cashback credit card.
Firstly, in order to benefit from cashback credit cards you need to be the type of person that uses the credit card on a regular basis and repays the balance in full each month.
This will enable you to gain maximum benefit from the card, as you will earn cashback on what you spend and you will not be charged any interest on your balance because you are always repaying it at the end of each month. You should also ensure that you do not make cash withdrawals or conduct cash transactions on cashback credit cards, as these transactions do not earn cashback and in fact incur charges and fees that can be quite hefty.
If you are the type of person that does not repay their balance in full each month then a cashback credit card is unlikely to be the card for you. This is because any cashback that you earn on your purchases will be counteracted by the interest that you are charged on your outstanding balance.
In these circumstances the best card is most likely to be a 0% purchase credit card or a very low interest credit card. If on the other hand you are able to repay your balance in full each month and you can avoid making cash transactions on your card, you could reap the rewards of a cashback credit card.
Although the level of cash back received on these cards may not seem particularly high – usually between 0.5% and 1% depending on the card issuer – those that use their credit cards for everyday use and to make large purchases will soon see the cashback add up.
Over time you can see the cashback build up on your card, and depending on the amount that you have spent over the period you could end up with a decent build up of cashback. However, in order to ensure that you are maximizing on the benefits of cashback credit cards you do have to make sure that you pay off the balance in full each month – setting up a direct debit will make this easier, as you won’t risk missing repayments.
With cashback credit cards you can enjoy all the convenience, flexibility, and ease of a credit card with the added benefit of being able to earn some money simply for using your card. The level of cashback offered can vary from one card issuer to another, so it is important to compare cashback levels in order to get the best one that will enable you to earn the most money from your spending.
Of course, with these cards the more you spend on the card the more cashback you will earn, and therefore it can really pay to use your card for pretty much all of your purchases providing you intend to repay the balance in full each month.
If you have a partner it is a good idea to consider getting a second card, as your partner can also use the cashback credit card for daily spending, thus increasing the amount of cashback that is earned through increasing expenditure on the card.
Search for the latest credit cards that offer cash back by visiting our
credit card comparison centre
