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Let the credit card cashback battle commence!

Let the credit card cashback battle commence!

Category: Credit cards

Updated: 31/10/2008
First Published: 31/10/2007

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

American Express has raised the bar in the credit card cashback market, offering an impressive offer to challenge the current market leaders Capital One.

Credit card cashback is a hotly contested market, and with Christmas just around the corner it's an ideal time to make full use of these introductory credit card offers.

The Capital One cashback credit card offers 4% cashback for three months, followed by an impressive 1% thereafter, whereas the enhanced American Express credit card cashback deal provides 5% for the first three months, followed by a tiered reverts to rate ranging from 0.5% to 1.5%, dependent on your annual spend. If you are looking for a longer-term deal, it is vital to look beyond the introductory credit card offer.

Taking a constant average credit card monthly spend of £1K, the Capital One cashback credit card would yield a £210 return in year one, compared with £247.50 with the American Express cashback credit card. This is an impressive return for just going about your day-to-day spending. And with neither cashback credit card imposing a maximum cashback, your earnings potential is almost limitless, only restricted by your credit limit and spending power.

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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 Any products featured may be withdrawn by their provider or changed at any time.

 
 
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