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6 of the best cashback credit cards

6 of the best cashback credit cards

Category: Credit cards

Updated: 12/05/2017
First Published: 11/05/2017

There's nothing better than getting something for nothing, and cashback credit cards can offer just that! They can be the perfect way to earn cash rewards on everything you buy, and if managed effectively, can come with a whole host of additional benefits as well.

These cards are ideal for regular card users, such as those who prefer using plastic for their everyday spending and use their income to repay the balance in full each month. This way, users really are getting something from money they were going to spend anyway, and as long as you go about things the right way, you could easily profit from it.

However, the key here is to make sure you manage things properly. Cashback credit cards should only ever be considered by those who can comfortably pay off the balance in full each month, as otherwise, the interest payments could cancel out any cashback earned. This means you should never just make the minimum repayments and absolutely need to keep up with all your bills - consider setting up a direct debit to make sure you never miss a payment.

But, if you're confident you can make the repayments, have a decent credit score and want to be rewarded for your everyday spending, there are plenty of cards out there that could fit the bill, each of them boasting different rewards and benefits. Here are the top six.

Top cashback credit cards


Representative purchase APR (variable)
Card details

American Express
American Express

Platinum Cashback Card

28.2% APR
  • Introductory 5% cashback for first three months on spending between £1 and £2,500 (capped at £125)
  • Standard 1% cashback on spending between £1 and £10,000 per year, and 1.25% on £10,001+
  • £25 annual card fee
  • Emergency cash service available
  • Can apply online and by phone

Easily taking the top spot in the cashback sector is this card from American Express, which offers a market-leading 5% cashback for the first three months (max £125) as well as standard cashback of up to 1.25% thereafter, depending on your spending. It comes with an annual fee of £25, but this could easily be outweighed by the level of cashback earned. However, the high APR means it's vital that any purchases are paid off in full each month, otherwise the interest could cancel out the benefits.


Representative purchase APR (variable)
Card details

American Express
American Express

Platinum Cashback Everyday Card

22.9% APR
  • Introductory 5% cashback for first three months on spending between £1 and £2,000 (capped at £100)
  • Standard 0.50% on spending up to £5,000 per year, and 1.00% on £5,001+
  • Must spend at least £3,000 annually to earn cashback
  • No annual fee
  • Emergency cash service available
  • Can apply online and by phone

American Express confirms itself as the leader of the cashback scene with its Platinum Everyday card that secures the number two spot. It again pays 5% cashback for the first three months, this time capped at £100, but it doesn't come with any annual fee. Standard cashback offerings are slightly more limited as a result, but for those who will spend £3,000+ every year on the card, it could be a great choice.


Representative purchase APR (variable)
Card details

ASDA Money
ASDA Money

Cashback Plus Credit
Card MasterCard

26.2% APR
  • 2% cashback on ASDA spending and 1% on all other transactions
  • 10% cashback on selected insurance products
  • Introductory 0% balance transfer term of 15 months (3% fee applies)
  • Fee of £3 per month
  • Apply online, by phone or in branch
  • Minimum age and income restrictions apply

ASDA Money secures a top-three spot with this card that could be ideal for loyal shoppers: it boasts 2% cashback on all ASDA shopping and 1% cashback elsewhere, together with 10% cashback on selected insurance products. As an added bonus, it also offers an interest-free balance transfer term of 15 months from the date of issue. However, it's worth noting that the monthly fee tots up to £36 per year, so customers will need to make sure they can earn at least this back - and that they can pay off the balance in full each month - to truly benefit.


Representative purchase APR (variable)
Card details

ASDA Money
ASDA Money

Cashback Credit Card
MasterCard

19.9% APR
  • 1% cashback on ASDA spending and 0.50% on all other transactions
  • 10% cashback on selected insurance products
  • Introductory 0% balance transfer term of 12 months (3% fee applies)
  • Apply online, by phone or in branch
  • Minimum age and income restrictions apply

ASDA Money has done it again with a second card in the charts, this time its standard (and fee-free) deal that boasts 1% cashback on all ASDA shopping and 0.5% elsewhere, not forgetting the 10% cashback on selected insurance products. The introductory balance transfer term has also been reduced, to 12 months from the date of issue, but the fee-free nature of the card could appeal to many.


Representative purchase APR (variable)
Card details

TSB
TSB

Classic MasterCard for
Classic Plus C/A customers

25.9% APR
  • 1% cashback on spending between £1 and £500 per month for those who hold a TSB Classic Plus account
  • Maximum cashback of £5 per month until 30 June 2018
  • Introductory 0% balance transfer and purchase term of 10 months (2.95% balance transfer fee applies)
  • Apply in branch
  • Minimum age restrictions apply

TSB makes the top five with this deal exclusively available to existing current account customers, but the perks could be worth it: the card boasts 1% cashback on spending up to £500 each month, but it also comes with a 10-month 0% balance transfer and purchase term, offering customers the complete package.


Representative purchase APR (variable)
Card details

Nationwide BS
Nationwide BS

Select Credit Card Visa

15.9% APR
  • Standard 0.50% cashback on spending over £1 per year (paid in December)
  • Access to exclusive rewards when shopping online and on the high street through the Simply Rewards scheme
  • Fee-free foreign use
  • Introductory 0% balance transfer and purchase term of 12 months (no fee)
  • Apply online, by phone or in branch
  • Minimum age and income restrictions apply
  • Must have a Nationwide current account

Nationwide BS just squeezes into the top six with this deal that offers something for everyone: not only does it offer cashback of 0.50% on all your spending, but it comes with additional rewards when you shop, as well as a full year of interest-free purchases and balance transfers (the latter being fee-free). It even offers fee-free purchases abroad, making it ideal for those who like to travel, and the low APR provides the cherry on top.

Information & Rates correct as at: 11.05.2017

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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