• What is a Cashback Credit Card?

Some Credit Card providers offer high cashback rates to attract new customers. This allows customers to earn a percentage of cashback on their purchases, so the more money spent, the more cashback earned. Most cashback scheme's have a threshold that cannot be exceeded within a month, for example up to £250 per month.

  • Who can benefit the most from using a Cashback Credit Card?

These Credit Card are designed for regular spenders. Customers use the card for most of their purchases, such as food, fuel, clothing etc. to acquire as much cashback as possible. The balance is then paid off in full at the end of each month to avoid any charges being made.

  • How do the Interest rates compare?

One thing to keep in mind when using a cashback credit card is that the interest rates are generally higher, which will affect you if you don't pay off the full amount each month. However, if you keep up-to-date with your payments you will not be affected. 

  • What to look out for
Before choosing your cashback credit card always check whether cashback is offered on every purchase as some only offer this feature at selected outlets. Also, check whether your cashback is instantly credited to your account on completion of a transaction, or whether it is awarded annually in a lump sum. The high percentage offered will last for the period specified, after which will fall to a standard 0.5-1.5% based on the amount spent.

See our range of Cashback Credit Cards above