Compare the best cashback credit cards

What are Cashback Credit Cards?

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.

Why get a cashback credit card?

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.