Most cards now come with a range of extras to
entice you into spending more on the card, the most popular incentive
being cashback. A proportion of your spending (normally 0.5 to 1%) is
returned to you in cash. For example if you purchased something for
£100 using a credit card offering 1% cashback, you would get £1
back. The amount is added up and paid annually, usually on the
anniversary of the account opening date.
To really benefit from a cash back credit card, you must pay off your
balance in full each month. By doing so the card company will not make
any money from you in interest charges, instead you'll be earning
extra money for spending on your card. If you don't normally pay off
your balance in full each month, the cashback gained will be dwarfed by the interest charged – in which case
you should consider signing up for a low-interest credit
card instead.
| Credit Card | Intro Rate For Balance Transfers |
Intro Rate For Purchases |
Representative APR (variable) |
Representative Example | |
|---|---|---|---|---|---|
 American Express Platinum Cashback |
- | 14.0% | 18.5% |
Representative Example Representative 18.5% APR variable. Based on annual fee of £25 and assumed credit limit of £1200. Interest rate for purchases: 14.0% p.a. variable |
 |
|
Earn 5% cashback for the first three months up to a maximum of £100 plus 2.5% cashback in the anniversary month when you spend £10,000 a year
£25 annual fee
Cashback: Up to 5%
|
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 Capital One World MasterCardCapital One,
Trent House, Station Street, Nottingham, NG2 3HX |
19.9% (Fee: no fee) |
19.9% | 19.9% |
Representative Example 19.9% APR representative variable 19.94% p.a. variable on purchases £1,200 credit limit |
|
|
5% cashback on all purchases for the first 3 months
Cashback: Earn 5% cashback on purchases for the first 3 months (max £100) and up to 1.25% unlimited cashback thereafter
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