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Cashback Credit Cards

Cashback credit cards can be a useful way to get paid for your regular spending, as long as you pay off your balance every month.

Moneyfacts has been providing comparison charts to the public and financial sectors for over 35 years. See our charts below to compare options and find the best cashback credit card for your circumstances.

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Today's Best Cashback Credit Cards

Today's Best Cashback Credit Cards

<p>We found <strong>14 PRODUCTS </strong>in total, of which <strong>2 have links to providers</strong></p>

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Selecting ‘Provider Links First’ brings all products that you can apply for directly via Moneyfacts to the top of the chart in rate order. Products that do not have an ‘Go To Provider's Site’ button will appear below, again in rate order. Selecting an option from the drop-down will change the chart to list all products in order depending on the option you have selected, with the best rate being at the top. Products that have ‘Go To Provider's Site’ links will still be in the list but in rate position. Selecting ‘Favourites First’ will bring your chosen products to the top of the chart in rate order with those with Provider Links shown first.

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  • American Express Amex® Cashback Everyday Credit Card

    American Express Amex® Cashback Everyday Credit Card

    Intro Rate for Purchases
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    No introductory rate for purchases
    APR
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    30.4%
    Additional Information
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    New Cardmember offer: 5% cashback for the first 5 months, capped at £125
    No balance transfers
    0.50% cashback on spend between £1-£10K per year. 1% over £10K per year.
    Go To Provider's Site
    Representative Example: Based on a credit limit of £1200.00 charged at 30.4% variable per annum for purchases. Representative 30.4% APR variable.
  • American Express Amex® Cashback Credit Card

    American Express Amex® Cashback Credit Card

    Intro Rate for Purchases
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    No introductory rate for purchases
    APR
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    36.0%
    Additional Information
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    New Cardmember offer: 5% cashback for the first 3 months, capped at £125
    Annual fee of £25
    0.75% cashback on spend between £1-£10K per year. 1.25% over £10K per year.
    Go To Provider's Site
    Representative Example: Based on a credit limit of £1200.00 charged at 30.4% variable per annum for purchases. Fee of £25 per annum applies. Representative 36.0% APR variable.
  • Santander World Elite Mastercard
    Intro Rate for Purchases
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    0.0% for 18 months
    APR
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    49.8%
    Additional Information
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    24 hour customer service
    Monthly fee of £15
    Standard 0.50% on spend over £1 per year
    Representative Example: Based on a credit limit of £1200.00 charged at 18.9% variable per annum for purchases. Fee of £15 per month applies. Representative 49.8% APR variable.
  • Santander All in One Credit Card Mastercard
    Intro Rate for Purchases
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    0.0% for 15 months
    APR
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    29.8%
    Additional Information
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    0.5% cashback on purchases
    Monthly fee of £3
    No balance transfer fee during introductory period
    Representative Example: Based on a credit limit of £1200.00 charged at 23.9% variable per annum for purchases. Fee of £3 per month applies. Representative 29.8% APR variable.
  • Bank of Scotland Credit Card Mastercard
    Intro Rate for Purchases
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    No introductory rate for purchases
    APR
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    10.9%
    Additional Information
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    Emergency card replacement
    Rates dependent on credit rating
    Manage your card online
    Representative Example: Based on a credit limit of £1200.00 charged at 10.94% variable per annum for purchases. Representative 10.9% APR variable.
  • AIB (NI) AIB Option 1 Visa
    Intro Rate for Purchases
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    No introductory rate for purchases
    APR
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    18.9%
    Additional Information
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    Low cash withdrawal charges
    No zero% introductory balance transfer offer
    0.50% cashback on spend over £5K per year
    Representative Example: Based on a credit limit of £1200.00 charged at 18.9% variable per annum for purchases. Representative 18.9% APR variable.
  • Halifax Cashback Credit Card Mastercard
    Intro Rate for Purchases
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    No introductory rate for purchases
    APR
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    22.9%
    Additional Information
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    0.25% cashback on purchases
    Rates dependent on credit rating
    Manage your card online
    Representative Example: Based on a credit limit of £1200.00 charged at 22.94% variable per annum for purchases. Representative 22.9% APR variable.
  • Lloyds Bank Cashback Credit Card Mastercard
    Intro Rate for Purchases
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    No introductory rate for purchases
    APR
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    22.9%
    Additional Information
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    0.25% cashback on purchases
    Rates dependent on credit rating
    Manage your card online
    Representative Example: Based on a credit limit of £1200.00 charged at 22.94% variable per annum for purchases. Representative 22.9% APR variable.
  • Virgin Money Everyday Cashback Credit Card Mastercard
    Intro Rate for Purchases
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    No introductory rate for purchases
    APR
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    24.9%
    Additional Information
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    0.25% cashback on purchases
    High rate for cash withdrawals
    Contactless payments up to £100
    Representative Example: Based on a credit limit of £1200.00 charged at 24.9% variable per annum for purchases. Representative 24.9% APR variable.
  • Barclaycard Rewards Visa
    Intro Rate for Purchases
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    No introductory rate for purchases
    APR
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    28.9%
    Additional Information
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    No foreign transaction fees
    No zero% introductory balance transfer offer
    Contactless payments up to £100
    Representative Example: Based on a credit limit of £1200.00 charged at 28.9% variable per annum for purchases. Representative 28.9% APR variable.
Note

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Disclaimer

All credit cards are subject to the applicant’s status. The APR quoted is representative of the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you are offered may be higher, or you may not be offered credit. Fees and rates subject to change without notice. Please check all rates and terms before borrowing.

Provider Links

Links like ‘Go To Provider's Site’ or ‘Speak to a Broker’ connect you to providers or brokers we work with, for which we may receive a commission if you click or apply.

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What is a cashback credit card?

Cashback credit cards are a type of rewards credit card. Instead of offering rewards such as points or vouchers, cashback cards pay you back a percentage of the amount you’ve spent on the card.

For example, if you spend £3,000 on a card that offers 0.50% cashback, you’ll receive £15 from the provider.

Some credit cards may only offer cashback of 0.25%, but other cards could offer 1% or more. It’s also worth noting that some card providers pay a flat cashback rate across all your spending, while others may pay a higher rate if you spend above a certain amount or spend at certain retailers, for example.

The provider may pay your cashback into your credit card account, reducing the amount you owe on your card, or into your current account.

And, depending on the provider and your preferences, you may receive your cashback at the end of each month or each year.

While a credit card that essentially pays you every time you spend can be appealing, they are only really beneficial to those who pay off their credit card every month. If you don’t clear your balance each month, the interest you would be charged is likely to cancel out any cashback you earn.

What to look out for

When you compare cashback credit cards, there are a number of features to look out for, including:

  • Fees: Some cashback credit cards charge monthly or annual fees, so it’s important to factor these in when deciding whether a cashback credit card is worth getting.
  • Introductory offers: Check if a credit card offers a higher cashback rate or other perks as part of a limited introductory offer. These can be attractive incentives to choose a card, but make sure you’re aware when the offer expires
  • Minimum spend: Check if a provider will only pay cashback if you spend above a certain level on your credit card.
  • Tiered cashback: Providers may offer different levels of cashback, depending on the amount you spend. For example, you may earn a higher percentage cashback if you spend above a specified threshold.
  • Special offers: Cashback cards may offer additional cashback or other perks on particular types of purchases (such as fuel) or when you spend at specific retailers, for example.
  • Limits: Providers may limit the total amount of cashback you can earn on a credit card each month or year.
  • Eligibility criteria: When comparing cashback cards, it’s important to check if you’re eligible. For example, providers may set minimum income levels, and some cards may only be available to customers who have a current account with the provider.
  • The interest rate: Ideally you will pay off your card in full each month without paying any interest. However, it’s still worth checking what the interest rate is when comparing cards.
  • Other features: As well as the cashback offer, it’s also worth checking if there are any other perks, such as an interest-free period or a reward scheme.

Every cashback credit card is different, so it’s crucial to check the terms and conditions before applying.

Are cashback credit cards worth it?

Because cashback credit cards pay you for essentially doing nothing, many people could find they are a useful way to get a little extra money.

To maximise the benefits, ideally you should aim to use a cashback card instead of a debit card to pay for as much of your everyday spending as possible, including groceries, eating out, shopping and more. By doing this, the cashback you earn can quickly add up.

However, to get the full benefit of a cashback credit card, you need to be certain that you will pay off your balance in full every month to avoid any interest charges. These cards won’t be suitable if you think you’ll struggle to clear your balance as the interest charged is likely to outweigh the value of any cashback you receive. You can set up a Direct Debit to make sure you pay off your card each month and don’t accidentally miss a payment.

It’s also important to only apply for a cashback card if you think you can stay in control of your spending. The main perk of cashback cards is that you can get paid for your regular spending that you would have done regardless of whether you earned cashback. However, if they tempt you to spend more than planned and more than you can afford to repay, they will be more damaging than useful.

If you want a credit card to borrow money, a different type of card, such as a 0% interest purchase credit card is likely to be more suitable.

Pros and cons of cashback credit cards

  • You can get paid for most of your everyday spending.
  • Any spending by additional cardholders can also qualify for cashback.
  • You may be able to get a higher rate of cashback thanks to introductory offers or by spending at certain retailers.
  • As with any other credit card, purchases between £100 and £30,000 are protected under Section 75 of the Consumer Credit Act.
  • You can spend the money earned as cashback as you wish; you’re not restricted to spending it at a particular retailer, for example.
  • You need to pay off your card balance in full every month to get the full benefit of the cashback.
  • Cashback credit cards could tempt you to spend more than you can afford to repay.
  • Some cashback cards may charge a monthly or annual fee.
  • You can’t typically earn cashback on transactions such as balance transfers, cash withdrawals or buying foreign currency, for example.
  • There may be limits on the amount of cashback you could earn.

What is the best cashback credit card on the market?

Different people will find that different cashback credit cards are the best option for them.

The best cashback cards currently offer up to 5% cashback as part of an introductory offer, but the card paying the highest rate of cashback won’t necessarily be the most suitable option for you. You may find that the cards offering the highest cashback also charge a maintenance fee, for example.

Furthermore, if you regularly shop at a particular retailer, a cashback credit card that offers a favourable rate on spending at this store could be worth considering instead.

So, as well as the percentage cashback paid, it’s also important to consider card fees, minimum spend required for cashback and other features to make sure you choose the right card for you.

How to apply for a cashback credit card

You typically need to be a UK resident aged over 18 to apply for a cashback credit card, and providers may set other requirements such as a minimum annual income. If you meet the displayed criteria, you can then check your eligibility to see your chances of approval for a particular card.

To check your eligibility, you’ll need to provide personal information and details about your finances, including your income, rent or mortgage payments and any other existing debts, for example.

Providers will also run a soft credit check to see if you qualify for the card. This won’t affect your credit score.

When you formally apply for a card, the provider will then run a hard credit check (which will appear on your credit file) to decide whether to accept your application. If approved, it will then confirm the credit limit and interest rate of the card.

Other types of credit card to consider

If a cashback credit card isn’t quite right for you, there are other credit cards you could consider instead.

  • Reward credit cards: If you like the idea of being rewarded for your spending, it’s worth looking at reward credit cards. They work in a similar way to cashback credit cards but offer points, vouchers and other benefits instead of cash.
  • 0% purchase cards: Ideal if you want to spread the cost of a big purchase, 0% purchase credit cards allow you to borrow without paying interest for a limited period. It’s important to clear your balance before the end of the interest-free period and follow the terms of the card, otherwise charges may apply.
  • Balance transfer cards: These are suitable if you have existing credit card debt that you are paying interest on. You can transfer this debt to a balance transfer card to reduce the amount of interest you pay.
  • Travel credit cards: If you’re travelling abroad, specialist travel credit cards allow you to spend without incurring any fees.

Cashback credit cards FAQs

How is cashback paid?

Cashback is often paid out every year, although some providers can pay it every month. It will either be paid to your credit card account (reducing your card balance) or you may be able to have it paid into your current account.

Do you still get cashback if you return an item?

If you return an item that you bought with a cashback credit card and receive a refund, the original purchase won’t be eligible for cashback. When the refund is paid into your account, the provider will recalculate your cashback accordingly.

If you return an item and get a replacement, for example, you should still receive cashback as normal as you didn’t receive a refund.

Can you get a cashback credit card with bad credit?

It may be possible to get a cashback credit card with bad credit, but this will depend on the provider. Card providers have their own eligibility criteria, and some may not accept applications from those with a poor credit history. If you do qualify for a cashback card with less-than-perfect credit, you are likely to receive less favourable terms, such as a lower credit limit or a higher interest rate, than someone with a better credit score.

Is cashback taxable?

No, any cashback you receive won’t typically be classed as taxable income so you shouldn’t need to declare it to HMRC.

Can you still get cashback if you use Google Pay or Apple Pay?

As long as you can add your cashback card to your digital wallet, you should receive cashback as normal when you spend via this method.

Should I get a cashback card or a rewards card?

It’s up to you whether you choose a cashback credit card or a rewards credit card. Both types of cards can offer attractive perks, and the card that offers the most benefits to you will depend on your spending habits. For example, if you regularly spend at a specific retailer, a rewards credit card that offers points and vouchers for that store could give you more value than a cashback card offering a small percentage cashback. However, if you shop at a range of places and would prefer to receive money instead of points or vouchers, a cashback card may be more suitable.

Is there a catch to cashback credit cards?

There’s no real catch to cashback credit cards, as long as you meet the terms of the card (such as staying within the credit limit) and clear your balance in full every month. The only downside to a cashback credit card is if you don’t pay off your balance and start being charged interest, or if you start to build up unmanageable debt, for example.

Try our credit card calculators

Calculate what you need to know before applying.

Balance transfer calculator – calculate how much you could save by switching to a 0% balance transfer credit card.

Minimum repayment calculator – calculate how long it will take to clear your balance when only making the minimum repayments.

Repayment calculator – calculate how quickly you could pay off your credit card.

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Rhiannon Philps

Content Writer

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