Advertisement
Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to apply online today. Products shown with a yellow background are sponsored products.
Moneyfacts.co.uk Limited is an independent credit broker not a lender. We will receive a payment from credit providers where customers link to them from Moneyfacts.co.uk. None of these arrangements affects our independence.
If you like to spend on your credit card and pay it off in full every month, you don’t need flashy 0% offers, or even a particularly low purchase rate (as you never intend to pay it). Instead you want a credit card that will reward your custom, perhaps with points, air miles or vouchers, or even with cashback.
A Cashback Credit Card is not suitable for you if you don’t repay your balance in full each month (or before any 0% introductory period ends) because any rewards you earn from the card will be more than cancelled out by the interest you have to pay.
Watch out as well for card providers offering high introductory cashback rates (you should really aim to base your decision on the long term cashback rate, after the introductory period ends) as well as the minimum transaction amount you need to make before you start earning cashback.
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.
Please send me Weekend Moneyfacts, Savers Friend and selected third party offers.
Advertisements:
Improve your credit ratingIf you've been rejected from a card application or think you have a poor credit rating, find out how you can get accepted. A simple thing like not being on the electoral roll could be the reason.
Credit repayment calculatorFind out how long it will take to clear your Credit Card.
Credit repayment term calculatorWant to clear your credit card as quickly as possible?
Consumers have less time to pay back the debt they owe on 0% interest rate credit cards than they di... More
It’s the time of year when many people are looking for ways to clear their debt after over-relying o... More
Christmas may be long gone, but many people will still be feeling the effects on their wallets as cr... More
If you need a bit of a cash injection to pay for Christmas but don’t want to worry about interest ad... More
‘Tis (almost) the season to be jolly, but before all that festive fun begins, chances are you’ve got... More
Getting a long 0% balance transfer credit card can reduce your debt quickly and cheaply. But there a... More
Find out who provides your credit card. Most branded cards are issued by another provider – this cou... More
They’re so easy aren’t they: credit cards? It lands on your doormat, 85.60 x 53.98mm of pure spendin... More
Barclaycard has reviewed its credit card range. Still competitive despite decreasing the introductor... More
Sainsbury’s Bank has reduced the introductory 0% interest term on its balance transfer and purchase ... More
Virgin Money has increased the introductory interest-free terms on its 0% interest credit card, whic... More
nuba has decreased the introductory balance transfer term on its leading balance transfer card, but ... More
Lloyds Bank has increased the introductory 0% balance transfer term on its Online Platinum MasterCar... More