Credit cards Updated:
Santander has launched a new cashback card that offers holders returns of up to 3% on their spends.
The 123 Cashback Credit Card MasterCard offers 1% on all supermarket spends with no cap, 2% on all department store spends with no cap and 3% on all fuel purchases with a cap of £9 per month.
The card has an annual fee of £24 and no introductory deals are included.
Other details are as follows: standard purchase rate is 1.457% per month, 18.9% per annum, 22.8% APR and for cash advances 2.207% per month, 29.9% per annum.
This new cashback card may lack any introductory deals and offer a higher than average purchase rate, but it does offer a standard cashback scheme which can be as high as 3%.
This return does depend on where you spend - a feature that is becoming more common in the cashback card market.
The APR of 22.8% includes an annual fee of £24, so this must be considered in the overall cost of the card.
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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 Any products featured may be withdrawn by their provider or changed at any time.
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