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Top 6 cashback credit cards

Top 6 cashback credit cards

Category: Credit cards

Updated: 11/12/2012
First Published: 11/12/2012

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 It is now over 6 months old so the content may be out of date.
Untitled DocumenThe prospect of receiving a payment from your credit card provider is both refreshing and appealing to many customers.

Cashback credit cards can be a great way to earn tax-free cash rewards on each spend you make, which, during the busy Christmas shopping season, could amount to quite a few!

If managed efficiently, you can enjoy a host of benefits from a cashback card including cash, vouchers and air miles.

Check out our points below to achieve the most from your card:

  • Be confident that you can pay off the balance in full each month. Try to avoid paying just the minimum repayment, although of course if you really are struggling this is always better than missing a payment completely.
  • Introductory deals which rely on good account conduct, or any benefits such as cash back, will be removed by the provider if monthly payments are missed, even just one.
  • Hefty interest rates will cancel out any rewards or benefits associated with the card.
  • Avoid withdrawing cash on your credit card, as the interest charged can be notoriously high compared to making purchases.
  • If you do have short term cash needs, then it may be worth checking with the provider as to what rates they charge to dip into your overdraft, as this could work out cheaper.
  • Check whether your spending habits suit the card. For example, some cards only offer rewards for spending at fuel stations or specific department stores.
  • Address any outstanding debt prior to taking out more credit. Sort out any other debts you may have before taking out another credit card.
  • All new applications for credit cards will create a 'footprint' on your credit history. Numerous footprints, caused by repeated credit applications, can ultimately impact on your credit score.

Top 6 cashback credit cards

Representative Purchase APR

Card details

American Express Platinum Cashback Card
American Express
Platinum Cashback Card

18.5%

  • Introductory 5% cashback for 3 months
  • Standard cashback of 1.25% paid after initial 3 months
  • Annual fee of £25

Sainsbury's Bank Cashback Credit Card
Sainsbury's Bank
Cashback MasterCard

17.9%

  • Introductory 5% cashback on Sainsbury's shopping for 3 months (capped at £50 per month)
  • Standard cashback of £5 each month when you spend at least £250 per month on Sainsbury's shopping and at least £250 per month elsewhere
  • No annual fee


American Express
Platinum Cashback Everyday Card

19.9%

  • Introductory 5% cashback for 3 months (capped at £100)
  • Standard cashback of 0.50% for spending up to £3,500 per year, 1% on spending between £3,501 and £7,500 per year and 1.25% on spends of £7,501 and over
  • Limited offer until 31 January 2013

Capital One
Capital One
Aspire World MasterCard

19.9%

  • Introductory cashback of 5% for 3 months
  • Standard cashback of 0.50% for spending up to £5,999 per year, 1% on spending between £6,000 and £9,999 per year and 1.25% on spends of £10,000 and over

Santander 123 credit card
Santander
123 MasterCard

22.8%

  • Standard cashback of 1% for spending over £1 in supermarkets, 2% for spending over £1 in department stores and 3% for spending on train fares and fuel. Capped at £300 per month
  • Annual fee of £24
Creation Mastercard
Creation
Cashback MasterCard

18.9%

  • Standard cashback of 0.50% on all spending over £1. 1.50% cashback on spending over £1 in supermarkets and fuel stations. Capped at £200

What Next?

Compare cashback 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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