Cash Back Credit Cards

Cashback credit cards offer an attractive reward scheme, giving you back a tax-free percentage of however much you spend on them. The money you get back is not restricted to spending on anything in particular – you can spend it on whatever you want. If you find a product you like, you can use the secure links (accessed by clicking the 'more info' button) to apply online.

 APPLY ONLINE

Credit Needed
Excellent
  • 5% Cashback on the first £2,000 of Purchases for 3 months (up to £100)
  • If you spend £3,000 in a year, almost every pound spent qualifies for cashback
  • Generate even more cashback for your Account with complimentary Supplementary Cards
  • No Annual Fee
  • Apple Pay enabled payments
  • You must be a UK resident, aged 18 years or over and have no history of bad debt
  • Cashback
    5%
    3 Months
    Annual Fee
    £0
    Maximum Annual
    Cashback
    unlimited
    Purchase Rate
    22.9%
    Representative
    APR (variable)
    22.9%
    APR

Representative Example: 22.9% APR variable. Based on assumed credit limit of £1,200. Interest rate for purchases: 22.9% p.a. variable.

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Credit Needed
Good
  • 3% Cashback on Petrol, National Rail & TfL, 2% back on department stores and 1% back on supermarket spend*
  • 0% on purchases & balance transfers (0% transfer fee) for 23 Months
  • No foreign transaction fees on purchases paid in the local currenty until 31st December 2016
  • Up to 3 additional cards for family members at no extra cost
  • Contactless payments on purchases of up to £30
  • Apple Pay enabled payments
  • You must be a UK resident, aged 18 years or over, have a good credit history with no CCJ or bankruptcy history, and have an annual income of at least £7,500
  • Cashback
    3%
    Annual Fee
    £36
    Maximum Annual
    Cashback
    £108
    Purchase Rate
    0%
    23 Months
    Representative
    APR (variable)
    16.5%
    APR

Representative Example: 0% p.a. on card purchases for 23 months followed by 12.7% p.a. (variable) on card purchases. This is equivalent to 18.4% APR Representative (variable) based on an assumed credit limit of £1,200. Monthly fee: £3

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Credit Needed
Good
  • Earn unlimited cashback everywhere - 5% on selected Asda Money insurance products, *1% cashback on your Asda shopping & Asda fuel and 0.5% everywhere else
  • 0% on balance transfers for 12 months
  • 0% on purchases of £200 or more for 6 months at George.com
  • Get a FREE credit report for life
  • Contactless payment
  • You must be a UK resident, aged 18 years or over, have a household income of at least £10,000
  • Cashback
    1%*
    Annual Fee
    £0
    Maximum Annual
    Cashback
    unlimited
    Purchase Rate
    0%
    6 Months†
    Representative
    APR (variable)
    18.9%
    APR

Representative Example: 18.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 18.9% p.a. (variable)

 APPLY ONLINE

Credit Needed
Good
  • 0% for 12 months on balance transfers (no fee on all balance transfers made in the first 90 days of account opening) & 0% for 12 months on purchases
  • 0.5% unlimited cashback on sterling purchases
  • Unlimited commission-free purchases abroad
  • Apple Pay enabled payments
  • You must be a UK resident, aged 18 years or over
  • Only available to existing Nationwide customers
  • Cashback
    0.5%
    Annual Fee
    £0
    Maximum Annual
    Cashback
    Unlimited
    Purchase Rate
    0%
    12 Months
    Representative
    APR (variable)
    15.9%
    APR

Representative Example: 15.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 15.9% p.a. (variable).

 APPLY ONLINE

Credit Needed
Bad
  • 0.5% cashback on all purchases
  • Free Aqua credit checker
  • No fees on your purchases abroad, making this the card for your holiday
  • Good if you are new to credit or rebuilding your credit score with previous County Court Judgements
  • Start with a credit limit of £250-£1,200 and you could get an increase on your 4th statement
  • Aqua has said YES to over 750,000 customers in the UK
  • You must be a UK resident, without CCJs in the past 12 months
  • Must not have taken out a Marbles card in the past 12 months
  • Cashback
    0.5%
    Annual Fee
    £0
    Maximum Annual
    Cashback
    Unlimited
    Purchase Rate
    34.91%
    Representative
    APR (variable)
    34.9%
    APR

Representative Example: 34.9% APR representative (variable) based on a credit limit of £1,200 and a purchase rate of 34.91% p.a. (variable).

 APPLY ONLINE

Credit Needed
Good
  • Earn 1% Reward on all Supermarket spend
  • Earn at least 1% at MyRewards Retailers and 0.5% everywhere else you shop at home and abroad
  • 1% if you use contactless or Apple Pay until 30th June 2016
  • 0.5% at supermarket petrol stations
  • Apple Pay enabled payments
  • £24 Annual Fee - Receive a £24 refund on the annual fee when you hold a Reward or Reward Black current account
  • Must be a UK resident, aged 18 or over, and have an annual income of at least £10,000
  • Cashback
    1%
    Annual Fee
    £24
    Maximum Annual
    Cashback
    Unlimited
    Purchase Rate
    0%
    Representative
    APR (variable)
    18%
    APR

Representative Example: 17.4% APR representative (variable). Based on a credit limit of £1,200, a purchase rate of 12.9% p.a. (variable) and a £24 annual fee.

  • Earn 1% Reward on all Supermarket spend
  • At least 1% at MyRewards Retailers and 0.5% everywhere else you shop at home and abroad
  • Earn an extra 1% when you pay contactlessly or use Apple Pay
  • 0.5% at supermarket petrol stations
  • MasterCard contactless enabled
  • Apple Pay enabled payments
  • £24 Annual Fee*
  • Receive a £24 refund on the annual fee when you hold a Reward or Reward Black current account
  • You must be a UK resident, aged 18 or over, and have an annual income of at least £10,000
  • Cashback
    1%
    Annual Fee
    £24
    Maximum Annual
    Cashback
    Unlimited
    Purchase Rate
    18.9%
    Representative
    APR (variable)
    23.7%
    APR

Representative Example: 23.70% APR representative (variable). Based on a credit limit of £1,200, a purchase rate of 18.9% p.a. (variable) and a £24 annual fee.

 APPLY ONLINE

Credit Needed
Excellent
  • 5% cashback in first 3 months of Cardmembership up to £2,500 (£125 cashback
  • An ongoing 1.25% cashback on virtually every full pound spent
  • Double cashback (2.5%) for one month every year if more than £10,000 spent in previous 12 months of Cardmembership
  • Generate even more cashback for your Account with complimentary Supplementary Cards
  • Apple Pay enabled payments
  • £25 Annual Fee
  • You must be a UK resident, aged 18 years or over and have no history of bad debt
  • Cashback
    5%
    3 Months
    Annual Fee
    £25
    Maximum Annual
    Cashback
    Unlimited
    Purchase Rate
    0%
    Representative
    APR (variable)
    28.2%
    APR

Representative Example: 28.2% APR variable. Based on annual fee of £25 and assumed credit limit of £1,200. Interest rate for purchases: 22.9% p.a. variable

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What are cashback credit cards?

Cashback credit cards are a particular type of rewards credit cards, which reward customers for spending by giving them a specified percentage of the cost of the purchase back as cash.

Unlike traditional points-based credit card reward schemes, which offer their customers points toward loyalty programs as they spend, cashback is a relatively simple concept for customers to understand. It is a tangible benefit that can be used universally, it requires no additional input from the customer in selecting rewards from a loyalty catalogue, and it enables customers to spend in their usual manner without needing to increase their spend to earn enough points for a particular desired reward.

This simplicity, together with the increased familiarity of the cashback concept that ‘cashback websites’ have fostered in recent years, has helped these products challenge more established points-based rewards card programs in the UK market.

Best cashback credit card

As credit card issuers have responded to increased consumer appetite for cashback card products, the choice of product has increased. This increased choice has added complexity of finding the best cashback credit card, but it has been largely beneficial for consumers.

Cashback credit cards now exist that cater to various different circumstances, for people who are very affluent through to those on lower incomes (and even those with bad credit histories). Also, the once familiar ‘Annual Fee’ that was traditionally incurred by those with a cashback credit card can now be avoided, since fee-free cards are now commonplace.

Cashback for bad credit

Cashback credit cards were once the preserve of people with good or excellent credit scores. However, as the UK recession drove people with previously impeccable credit histories into arrears and default, the market shifted. Demand for bad credit credit products surged and the profile of the people applying for them changed. People who could once access some of the best UK credit card offers found themselves applying for credit building products to re-establish their credit profile. As the market for bad credit credit products grew, issuers responded with innovative products, some including features traditionally associated with prime credit card offerings, like cashback.

As such, credit card cashback (albeit at varying rates), is now widely available – even for people with bad credit, or unusual financial circumstances.

Disadvantages of cash back cards

Although cash back is a simple and tangible benefit for people using their card, it should certainly not be the primary consideration for all applicants.

Cashback rates, even the highest introductory rates, rarely get above 5% cashback. If an applicant regularly struggles to pay off their full monthly balance, a cashback credit card is unlikely to be a suitable product. This is because the interest they will accrue on their unpaid balance is likely to far exceed any cashback they might receive on their purchases.

Even those who do clear their balance in full every month may find that a cashback product is not as beneficial as they might presume. A number of cashback credit card products cap the amount individuals can earn in cashback. In some instances this is purely a cap on the introductory cashback (which is effectively loss-leading cashback for issuers - using it to attract new customers), but these caps also exist elsewhere - often on particular spend categories of purchases for category-variable cashback cards.

Careful comparison of the finer details of products can help people largely avoid these disadvantages, but it can also be worth looking at alternative reward categories. Most traditional reward cards, including air mile and supermarket reward cards for instance, impose no cap on the amount of points that can be collected in a given period. This means card holders can ensure that they are fully rewarded for every pound they spend.