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Product focus: Reward Credit cards

Product focus: Reward Credit cards

Category: Credit cards

Updated: 01/02/2011
First Published: 01/02/2011

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 It is now over 6 months old so the content may be out of date.

If you are one of those people who pays their credit card balance off in full each month, then it is possible to get something for nothing from the credit card companies.

A number of credit cards offer reward or loyalty schemes and the best one for you will depend on your own circumstances.

While some offer travel rewards, such as discounts on flights and hotels, others offer vouchers at selected retailers or cashback on purchases made.

Some of the most competitive credit card rewards deals include:

American Express Platinum Cashback Card

As the name suggests, the Platinum Cashback Card from American Express offers:

  • Cashback on all purchases. For the first three months customers are offered 5% cashback on the first £2,000 spent on the card. After three months, the card pays between 0.50% and 1.25% depending on the amount spent.
  • The card also offers 0% for six months on new purchases, after which the rate reverts to 19.9% APR.
  • A slight downside to the card is that American Express is not accepted at all retailers within the UK.

Tesco Bank Clubcard MasterCard

The Clubcard MasterCard allows customers to:

  • Earn Tesco Clubcard loyalty points when using this reward credit card. The card pays one point for every £4 spent, with additional points awarded when used in Tesco stores.
  • 0% interest is payable on new purchases for the first 13 months, which is the longest introductory 0% purchase credit card deal on the market.
  • The card also charges 0% interest on balance transfers for the first nine months.

Lloyds TSB Airmile Duo Amex/MasterCard

Customers can collect Airmiles with the Duo cards from Lloyds TSB:

  • The account comes with two cards: an American Express card, which offers more points per spend, but is limited to where it can be used, and a MasterCard, which is more widely accepted.
  • Customers can use the Airmiles reward points to purchase flights, hotels and other benefits. The cards charges 0% interest on balance transfers for the first three months, after which the rate reverts to a standard APR of 15.9%.

Find the best credit card rewards - Compare reward credit cards

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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