Best Cashback Credit Cards

Learn all about cashback credit cards.

Updated: May 23, 2024
Matt Crabtree

Written By

Matt Crabtree

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Are you considering applying for a credit card? A credit card can get expensive, with APR and sometimes monthly or annual fees. It’s understandable that you're looking around to see what's available.

If you want to make the most of your everyday spending, a rewards credit card allows you to do just that. If you want to maximise your usual monthly expenditures, then considering cashback credit cards could be your answer.

Switching out your everyday debit card for purchases to a cashback credit card can allow you to earn extra money for simply doing what you usually do, and there may be other perks you can benefit from too in the process.

In this article, you'll learn all about cashback credit cards, the pros and cons, and we'll introduce you to the best cashback credit cards for you to choose from.

Card NameScoreDetails
1. American Express Platinum Cashback Everyday Credit Card★★★★★Click Here
2. American Express Platinum Cashback Credit Card★★★★★Click Here
3. Santander All in One Credit Card★★★★Click Here
4. Smile Classic Credit Card★★★★Click Here
5. Barclaycard Rewards Credit Card★★★★Click Here
6. NatWest Reward Credit Card★★★★Click Here

What is a Cashback Credit Card?

Let's explore a rewards card before diving into cashback credit cards. Reward credit cards work so you can earn rewards just for spending money on a credit card. There are several types of rewards cards, such as:

  • Travel and air miles credit cards: with an air miles credit card, you earn points that you can redeem for cheaper flights, cabin upgrades and other travel-related perks. This type of rewards card is ideal for keen travellers.
  • General points credit cards: you can earn points for a wide range of goods and services and usually earn them for using the card in most stores. This rewards card is great if you don’t know exactly what rewards you want. The earned points on these cards usually aren’t store specific.
  • Retail reward cards: retail rewards cards are usually specific to retail stores, so, for example, Argos allows you to earn points only when you use their card in their stores. You typically gain more points for using your rewards card in certain stores, and you can usually only spend your rewards at these stores.
  • Cashback credit cards: you earn money in the form of cashback. Usually, you earn a percentage of what you spend on your credit card.

Cashback credit cards pay you back a percentage of what you spend. Yes, it works when making purchases, but there is more to it than that. Cashback credit cards pay you back a percentage of what you spend. You earn cashback every time you purchase with your card. The amount you earn varies between credit providers. 

You may be wondering how you’ll be paid your cashback; you’ll receive it in one of two ways. Sometimes it can be straight cash paid into your bank account, or you get it as credit on your bill. Using your cashback credit card for your daily purchases is a great way to earn money while you spend and maximise your spending habits.

Cashback Credit Card Pros and Cons

Applying for any credit card is a serious commitment not to be taken lightly, and that's why we've added the pros and cons to this section to help you make the most informed decision possible.

Pros

✔️ Earn as you spend: swapping your debit card for a cashback credit card means you'll earn cashback for making your usual purchases. You can earn back a percentage of your spending, saving you more money in the long run. Most reward credit cards start at a 0.25% cashback rate.

✔️ Potential to earn other rewards: some credit card providers offer other rewards on top of cashback, like entertainment subscriptions and even shopping perks like discounts and bonus points.

✔️ Introductory offers: some credit card providers offer cashback credit card deals for signing up. Usually, you can earn more money for an introductory bonus period at a better rate than you'd usually earn. For example, some cashback credit card deals allow you to earn up to 5% for the first couple of months of having the card.

✔️ Travel bonuses: some cashback credit cards come with travel bonuses like travel insurance and Global Assist, depending on the card provider.

Cons

❌️ Earning caps: some cashback credit cards have an earning cap on how much cashback credit you can earn in a month or year.

❌️ High APR: reward credit cards typically have a high APR ranging from 23% upwards. Cashback credit cards aren't designed for long-term borrowing but to use instead of your direct debit card. You should spend your regular budget on your cashback card, pay back the balance and enjoy the cashback rewards.

❌️ Foreign transaction fees: if you plan to use your reward credit card for travelling, lookout for foreign transaction fees, as some cashback credit cards have foreign currency and transaction fees.

❌️ Annual fee: some cashback credit cards come with an annual fee. To make getting a cashback card worth it, work out your spending habits on your debit card and match them against different cashback rates to see if you'll make more than the annual fee back. 

Best Cashback Credit Cards — Reviews

Here are the best cashback credit cards.

1. American Express Platinum Cashback Everyday Credit Card

American Express Platinum Cashback Everyday Credit Card

American Express Platinum Cashback Everyday Credit Card
Credit Limit
Minimum £700
Representative % APR (variable)
31.0% APR
  • Get 5% cashback on your purchases (up to £100) for the first three months of Cardmembership.
  • Enjoy carefully selected offers from AMEX range of retail and travel partners.
  • No annual fee.

Representative Example – If you spend £1,200 at a purchase interest rate of 31.0% p.a. (variable) your representative APR will be 31.0% APR (variable). Your APR and credit limit may vary depending on your circumstances.

  • Cashback rate: 5% up to £100 cashback for the first three months
  • APR: 31.0% variable
  • Annual fee: £0

Representative APR example: a 31.0% variable purchase rate, with a 31.0% representative APR with an assumed credit limit of £1,200. All credit available is subject to status and credit checks.

The American Express Platinum Cashback Everyday Credit Card allows you to earn 5% cashback on purchases up to £100 for the first three months of card membership. After the bonus period, you'll earn 0.5% cashback on spending up to £10,000 and 1% on spending above £10,000.

Additionally, if you refer a friend for a cashback credit card and they're accepted, you can earn at least £20 cashback. With this cashback credit card, there is no limit on how much cashback you can earn.

On top of great cashback deals, you get travel benefits such as American Express Offers from selected retail and travel partners, American Express Experiences, Global Assist Service, and Travel Accident Insurance. You must have no bad debt history to be eligible for this card. The online eligibility checker can tell you if you'll be accepted within minutes.

2. American Express Platinum Cashback Credit Card

American Express Platinum Cashback Credit Card

American Express Platinum Cashback Credit Card
Credit Limit
Minimum £700
Representative % APR (variable)
36.7% APR
  • Get 5% cashback on your purchases (up to £125) for the first three months of Cardmembership.
  • Enjoy carefully selected offers from AMEX range of retail and travel partners.
  • Annual fee £25.

Representative Example – If you spend £1,200 at a purchase interest rate of 31.0% p.a. (variable) your representative APR will be 36.7% APR (variable). Your APR and credit limit may vary depending on your circumstances.

  • Cashback rate: 5% (up to £125 cashback for the first three months)
  • APR: 36.7% variable
  • Annual fee: £25

Representative APR example: a 31.0% variable purchase rate, with a 36.7% representative APR with an assumed credit limit of £1,200. All credit available is subject to status and credit checks.

The American Express Platinum Cashback Credit Card allows you to earn 5% cashback on purchases up to £125 for the first three months of card membership. After the bonus period, you'll earn 0.75% cashback on spending up to £10,000 and 1.25% on spending above £10,000.

If you refer a friend for a cashback credit card and they're accepted, you can earn at least £30 cashback and up to £150 a year from referrals. With this cashback credit card, there is no limit on how much cashback you can earn. You have the freedom and choice of if you'd like to pay off your balance in full or spread the cost over several months.

On top of great cashback deals, you get travel benefits such as American Express Offers from selected retail and travel partners, American Express Experiences, Global Assist Service, and Travel Accident Insurance.

Additionally, you'll receive Purchase and Refund Protection and Fraud Guarantee. You must have no bad debt history to be eligible for this card. The online eligibility checker can tell you if you'll be accepted within minutes.

3. Santander All in One Credit Card

Santander All in One Credit Card

Santander All in One Credit Card
Credit Limit
Subject to status
Representative % APR (variable)
29.8% APR
  • 0% interest on purchases for 15 months.
  • 0% interest on balance transfers for 15 months with no balance transfer fee.
  • £3 monthly fee.

Representative Example – If you spend £1,200 at a purchase interest rate of 23.9% p.a. (variable) your representative APR will be 29.8% APR (variable). Your APR and credit limit may vary depending on your circumstances.

  • Cashback rate: 0.5%
  • APR: 29.8% variable
  • Monthly fee: £3

Representative APR example: a 23.9% variable purchase rate, with a 29.8% representative APR with an assumed credit limit of £1,200. All credit available is subject to status and credit checks.

With the Santander All in One Credit Card, you'll earn 0.5% cashback on all purchases, and you can get 15 months of interest-free period purchases and balance transfers from account opening with no balance transfer fee.

Additionally, there are no foreign transaction fees on purchases made overseas. With this cashback credit card, you can do all your baking online, on your mobile or get face-to-face support in a branch. With My Money Manager app, you'll gain personalised spending insights to keep up with your finances and spending habits. 

Additionally, you can sign up for Santander Boosts through your Mobile Banking app or Online Banking to earn cashback when you shop online at a wide range of retailers and get offers personalised to your interest and hobbies.

You can also receive vouchers and coupons for discounts and a chance for gifts and enter prize draws. To be eligible for this credit card, you must have an annual income of £10,500+ and don't already have a Santander All in One Credit Card.

4. Smile Classic Credit Card

Smile Classic Credit Card

Smile Classic Credit Card
Credit Limit
Minimum £200
Representative % APR (variable)
23.9% APR
  • 0.25% cashback on your purchases.
  • No annual fee and no balance transfer fee.
  • Cash advance fee of 3% (£3 min.) of the transaction.

Representative Example – If you spend £1,200 at a purchase interest rate of 23.9% p.a. (variable) your representative APR will be 23.9% APR (variable). Your APR and credit limit may vary depending on your circumstances.

  • Cashback rate: 0.25%
  • APR: 23.9% variable
  • Annual fee: none

Representative APR example: a 23.9% variable purchase rate, with a 23.9% representative APR with an assumed credit limit of £1,200. All credit available is subject to status and credit checks.

The Smile Classic credit card offers one of the lowest APR rates on the list at 23.9%. However, if you already have a Smile account, you may be eligible for an even lower rate at 19.9% on purchases and balance transfers. There is an interest-free period on new purchases for up to 56 days if you pay your balance in full by the due date. 

If you're accepted for this cashback card, you're guaranteed to get the advertised APR, so there won't be any surprises after you apply. With this reward card, no balance transfer fees are involved, and you can control your finances online or on the mobile app.

The cashback you earn on this credit card is automatically credited directly into your account, making the process as seamless as possible. The minimum credit limit for this card is £250, and to be eligible, you must earn a minimum Gross Annual Income of £10,000.

5. Barclaycard Rewards Credit Card

Barclaycard Rewards Credit Card

Barclaycard Rewards Credit Card
Credit Limit
Minimum £50
Representative % APR (variable)
25.9% APR
  • Get 0.25% cashback on your everyday spend.
  • No fees abroad.
  • Protection on purchases over £100.

Representative Example – If you spend £1,200 at a purchase interest rate of 25.9% p.a. (variable) your representative APR will be 25.9% APR (variable). Your APR and credit limit may vary depending on your circumstances.

  • Cashback rate: 0.25%
  • APR: 25.9% variable
  • Annual fee: none

Representative APR example: a 25.9% variable purchase rate, with a 25.9% representative APR with an assumed credit limit of £1,200. All credit available is subject to status and credit checks.

The Barclaycard Rewards credit card allows you to earn 0.25% on your everyday purchases, and there are no foreign transaction fees for using your card abroad. You can use the Barclaycard online eligibility checker to see if you'll be accepted before you apply.

Checking before filling out an application not only saves you time but it saves any potential hard searches on your credit report.

You'll gain access to free Apple subscriptions when you're accepted for this rewards card. You'll get up to five months of Apple TV+, Apple Fitness+, Apple News+, and more. You'll earn up to 15% cashback when you spend at participating retailers.

Your Barclaycard can save you money with Barclay Entertainment, so you'll gain access to selected live events, festival presales, and many other customer-only perks.

To be eligible for the Barclaycard Rewards credit card, you have a personal annual income of more than £20,000 and have had no Individual Voluntary Agreements, Country Court Judgements or declared bankruptcy in the past six years.

6. NatWest Reward Credit Card

NatWest Reward Credit Card

NatWest Reward Credit Card
Credit Limit
Minimum £250
Representative % APR (variable)
26.8% APR
  • Interest-free period 56 days for purchases.
  • Earn 1-15% back at selected retailers.
  • Annual fee £24 or £0 if you have a Reward current account.

Representative Example – If you spend £1,200 at a purchase interest rate of 21.9% p.a. (variable) your representative APR will be 26.8% APR (variable). Your APR and credit limit may vary depending on your circumstances.

  • Cashback rate: 0.25%
  • APR: 26.8% variable
  • Annual fee: £24 (£0 if you have a Reward current account)

Representative APR example: a 21.9% variable purchase rate, with a 26.8% representative APR with an assumed credit limit of £1,200. All credit available is subject to status and credit checks.

Regardless of where you like to shop, the NatWest Reward Credit Card allows you to earn 0.25% cashback everywhere, but what makes this card ideal is that you earn 1% cashback when you spend in supermarkets to make the most of your weekly or monthly shops. Additionally, you can earn between 1-15% at selected retailers.

You can use their website to determine how much cashback you can earn on your shopping, so you'll know even before applying if this card is right for you.

If you have a Rewards current account with NatWest, they'll reimburse you your annual fee. With this rewards card, there are flexible ways to pay back the balance, and the Mobile App allows you to track your credit score, control your spending, and lock and unlock your credit card. Before you apply, you'll participate in an eligibility checker that won't affect your credit score.

How to Choose the Right Cashback Credit Card

We've shared some of the best cashback credit cards on the market with you, but you might be unsure which credit card suits your needs the most.

So, we've come up with a list of factors to take into consideration when choosing the right card for your personal circumstances:

  • Learn how cashback credit cards work: knowing the ins and outs of a cashback credit card will help you make a more informed decision. Understanding how they work will help you see if switching out paying for things with your current account to a cashback card account is better.
  • APR rates: interest rates can vary. If you cannot pay back a balance on time, you want to ensure you do not have to suffer high APR rates.
  • Cashback percentages: some cashback cards have a higher cashback earning percentage, have a look at cards beyond their welcome bonus. Some providers may offer a high rate but drop much lower after a certain period.
  • Annual card fees: some cashback credit cards have annual fees. However, most don't.
  • When is the cashback paid: some card providers payout cashback earnings monthly, quarterly or annually, so it's worth checking out.
  • Credit rating: if you've got a bad credit rating, you may not be accepted for certain credit cards, so it's worth using an online eligibility checker before filling out any credit applications.
  • Where do you shop: if you find yourself only going to a particular shop or retailer, it may be worth looking to see if they have their own card membership where you can earn extra loyalty points to maximise your reward earnings.

Best Cashback Credit Cards: The Verdict

Cashback reward cards are a great option to maximise your spending.

Earning cashback on your usual outgoings can save you money in the long run, and depending on which reward credit card you choose, you may earn other reward points and take advantage of a welcome bonus.

If you're on the fence about what you could use your new reward on, we've compiled a short list of suggestions to make the most of your cashback credit card:

  • Charge everything to your reward card: if you make as many purchases as possible on your cashback credit card and pay back the balance on time, you'll maximise the amount of cashback earned.
  • Pick the card with the best rate: make sure you pick the best cashback credit rewards card suited for your needs and spending habits. The higher the cashback rate, the more you'll earn.
  • Make more than the minimum spend: some rewards cards have a minimum spend, so use your cashback card for transactions above the minimum amount to make the most of rewards credit cards.
  • Pay back the balance on time: ensure you repay the credit card balance on time to avoid paying interest charges, as they can eat into your well-earned cashback.
  • Avoid withdrawing cash: most credit cards have a fee for taking money from a credit card at an ATM. It can be expensive as you're charged daily interest on the amount you withdraw.

So, now that you know all there is about rewards credit cards and earning cashback, you're all set to make the most of your spending habits.

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