Cashback
Credit Cards

Compare credit cards that offer cash back with Money Expert and see how much you could earn as you spend.

Compare Cashback Credit Cards

American Express

Purchases
5%
Basic Cashback

Fee
£0
Annual Fee

Representative APR.
22.9% APR
Representative
variable

See Deal

Welcome Bonus. Enjoy a generous 5% cashback on all purchases you make for 3 months up to £100 cashback. Ongoing up to 1% cashback. After the first three months you’ll earn up to 1% cashback, depending on how much you spend on the Card: 
  • Spend £0 to £5,000 and receive 0.5% cashback on all purchases
  • Spend over £5,001 and receive 1% cashback on all purchases

Representative example: When you spend £1,200 at a rate of 22.9% (variable per annum), your Representative APR is 22.9% APR (variable)

American Express

Purchases
5%
Basic Cashback

Fee
£25
Annual Fee

Representative APR.
28.2% APR
Representative
variable

See Deal

Welcome Bonus. Enjoy a generous 5% cashback on all purchases you make for 3 months, up to £125 cashback. £25 annual fee. Ongoing up to 1.25% cashback.  After the first three months of Cardmembership you'll earn up to 1.25% cashback, depending on how much you spend on the Card:

  • Spend £0 to £10,000 and receive 1% cashback on all purchases
  • Spend over £10,001 and receive 1.25% cashback on all purchases

Representative example: When you spend £1,200 at a rate of 28.2% (variable per annum), your Representative APR is 28.2% APR (variable)

ASDA

Purchases
1%
Basic Cashback

Fee
£0
Annual Fee

Representative APR.
34.9% APR
Representative
variable

See Deal

Representative example: When you spend £1,200 at a rate of 34.9% (variable per annum), your Representative APR is 34.9% APR (variable)

aqua

Purchases
0.5%
Basic Cashback

Fee
£0
Annual Fee

Representative APR.
39.9% APR
Representative
variable

See Deal

Representative example: When you spend £1,200 at a rate of 39.9% (variable per annum), your Representative APR is 39.9% APR (variable)

Cashback Credit Cards

Avoid Incurring Charges

There is a risk of incurring charges if you run over your limit or are unable to cover the balance of your card at the end of the month. Such charges will likely be greater than any saving than you will make by using the card, and therefore it is advisable that you only use a cash back card if you are very confident that you will be able to afford your monthly payments.

Watch Out For High Interest Rates

Some cash back credit cards can have high interest payments which can outweigh the benefit of having a cash reward. For example if you're getting 5% cash back on your purchases but at the same time are paying 20% in interest payments then you're getting a good deal. As long as you avoid allowing your credit to roll over each month though, you'll avoid interest charges altogether.

Always Be Disciplined

Cash rewards can also make the idea of spending money to earn the cash back attractive, when in reality you would be saving more money if you simply reduced your spending. This is especially true when different cards have different rates and with some cards the more you spend the greater the percentage of cash back per purchase you will be rewarded with. For example if you spend £1000 then your cash back rate might be 1%, but if you spend £2000 your cash back rate increases to £2000. For this reason it's important to stay disciplined when using your cash back credit card and make sure that you spend only what you can afford to.

There May Be an Annual Fee

Some cash back credit cards also have an annual fee associated with them that can cost anywhere from £25 to £100. The annual fee will shave off a certain about of the money you get as a cash back, but depending the cash back rate you're getting, the card might still be saving you significant amount of money each year. For this reason you shouldn't avoid using a card altogether just because they have an annual fee.

A cash back credit card is well suited for you if:

  • You are looking to make big purchases on items such as cars, furniture and holidays. This will enable you to make big savings in the way of high percentage cash backs.
  • You are very confident that you will not have a problem in clearly your monthly accrued credit, and therefore avoid having to pay high interest rates.
  • You are disciplined and will be able to resist any urge to overspend in order to attain cash back rewards.

You should avoid cash back credit cards and look for an alternative if:

  • You are not looking to spend any more money but currently possess some debt that you want cleared. In this case you could looks at using a 0% interest transfer credit card.
  • You are hoping to be able to borrow money for some purchases and want to be able to pay back the debt over an extended period while paying low interest rates. In this case you are better off with a low interest rate credit card.
  • You find it difficult to avoid spending when there are benefits attached to making purchases.

If you feel unsure of whether or not a cash back credit card would be right for you, or you are unsure of which other credit would be best suited for you current situation then contact us for free specialist advice on what the best options are for you. We understand that looking for the best deal can be daunting with the number of different credit cards there are on offer, and that's why we're here to give a helping hand.