Credit Cards for Cashback

Click here to compare credit cards with cash back

The concept of credit card cashback is simple, when you spend money on your credit card you'll get a percentage of your spend returned to you every so often. Usually it’s totalled up and paid annually, either on the anniversary of the account opening or at a fixed date. Typically the rate is between 0.5% and 1% although some of the best deals offer as much as 5% cashback for a limited period which means if you spent £1000 on your card you would get £50 back.

Cashback schemes tend to outperform reward points schemes when compared.

You should only really choose a card with cashback if you’re never charged interest otherwise the cost of the interest will outweigh the cashback gain. If you always repay the card in full each month, the cashback is money the credit card company is giving you.

Card	Intro Rate Balance Transfers	Intro Rate Purchases	Representative APR (variable)
Asda Cashback	0% for 12 months (Fee: 3% or £3 whichever is greater)	19.9%	19.9%	Details / Apply
	To apply for a card, you should be aged 18 or over, not have County Court Judgements or Court Decrees or be bankrupt or otherwise insolvent, have a minimum annual income of £10,000 and not be claiming unemployment benefits. Cashback: 1% for every £1 spent in Asda and on George.com and 0.5% for every £1 spent elsewhere
	Representative Example Representative 19.9% APR variable 19.9% p.a. variable on purchases No annual fee Based on an assumed credit limit of £1,200

^ Credit cards are not suitable for long-term borrowing or financing existing debt. Missing payments could have severe consequences and make obtaining credit more difficult.

* To build your credit rating and be considered for credit limit increases, use your card sensibly, stay within your credit limit and pay your monthly minimum payment on time. Not doing so could harm your credit rating and ability to obtain more credit. Please also keep your other accounts such as credit cards, loans, catalogues, mobile phone and mortgages in order and don't take on too much debt elsewhere. By using your credit limits and keeping your accounts in order, you demonstrate that you can manage your accounts well and can handle the monthly repayments. There are no guarantees, but if you follow these steps consistently every month, you should be on track to improving your credit history and building a strong credit rating.

Cashback credit cards in decline
An investigation conducted by data analyst Defaqto reveals the cashback reward offers and in dramatic decline. As many as a quarter of credit cards offered cashback as a reward for spending five years ago, but today fewer than one in 20 cards carries this incentive. A total of 28.2% offered cash in January 2004 but in 2010 this figure has fallen markedly to 4.8%.