Cashback credit cards are a type of rewards credit card that return a percentage of eligible spending to the cardholder, either as account credit or in a similar form.

ClearScore is a credit broker, not a lender.

What is a cashback credit card?

A cashback credit card returns a percentage of eligible spending to the cardholder. Rates vary between cards and providers. Some offer higher introductory rates for a limited period, reverting to a lower ongoing rate thereafter.

For example, the Amex Cashback Everyday Credit Card has a new cardmember intro offer of 5% cashback up to £125. The reward on this would be £5 for every £100 spent during the introductory period. Ongoing rates typically fall between 0.1% and 1.25% once the introductory period ends.

It is worth noting that cashback cards are generally only cost-effective for those who clear their balance in full each month. As of July 2026, standard credit card APRs average around 25%, so carrying a balance will typically cost far more in interest than any cashback earned.

Always make sure you can afford repayments.

Is a cashback credit card suitable for me?

Cashback cards may not be suitable in the following circumstances:

1. You currently carry a balance on a credit card. Interest charges on existing debt will typically outweigh cashback earnings. Those in this position may wish to explore whether other credit products — such as 0% balance transfer cards — are available to them, taking into account their individual circumstances.

2. You have a limited or poor credit history. Cashback cards generally require a good credit history for approval. There are other card types designed for those building or rebuilding their credit profile. If your creditworthiness is less than stellar, there are several ways to improve your credit score.

3. You are at risk of overspending. Earning cashback only makes financial sense if spending habits remain unchanged. Spending more than usual in order to earn cashback is unlikely to be cost-effective.

4. You cannot consistently clear your balance. Cashback cards rarely offer 0% purchase periods. Carrying a balance will incur interest charges that will rapidly outweigh any cashback earned.

5. You have an important credit application coming up. Applying for a new credit card leaves a hard search on your credit file, which may temporarily affect your credit score. Those planning a mortgage or other significant credit application may wish to factor this in.

Cashback credit cards currently available

Amex Platinum Cashback Everyday

The Amex Platinum Cashback Everyday card has no annual fee. It pays 5% cashback for the first five months, capped at £125 (on the first £2,500 of spending), before reverting to a tiered ongoing rate of 0.5% on spending up to £10,000 per year and 1% above that. A minimum annual spend of £3,000 is required to earn any cashback.

Representative example: Based on an assumed borrowing of £1,200, the representative APR is 29.1% variable, with a purchase rate of 29.1% p.a. (variable).

Amex Platinum Cashback (with annual fee)

The Amex Platinum Cashback card carries a £25 annual fee. It pays 5% cashback for the first three months, capped at £125, before reverting to an ongoing rate of 0.75% on spending up to £10,000 per year and 1.25% on spending above that threshold. There is no minimum annual spend requirement to earn cashback on this card.

Representative example: Based on an assumed borrowing of £1,200 and a £25 annual fee, the representative APR is 34.6% variable, with a purchase rate of 29.1% p.a. (variable).

Amex Preferred Rewards Gold

The Amex Preferred Rewards Gold is not a cashback card but earns Membership Rewards points on spending. The standard welcome bonus is 20,000 points for £3,000 of spending in the first three months. The card has no annual fee in the first year, rising to £195 thereafter. Points can be redeemed for gift cards, transferred to airline partners, or used for other rewards; the value depends on how they are redeemed.

Representative example: Based on an assumed borrowing of £1,200 and a £195 annual fee, the representative APR is 85.8% variable, with a purchase rate of 29.1% p.a. (variable).

Chase Credit Card

Chase pays 2% cashback (up to £20 per month) on groceries, restaurants, cafes, takeaways, everyday transport, fuel and public EV charging points, when paying with a Chase debit or credit card. Eligibility conditions apply and the offer is subject to change.

To earn cashback in any given month, you must meet both of the following criteria in the previous calendar month:

• Make at least 15 payments using your Chase debit card or your Chase credit card or by direct debit (other forms of transactions, including, but not limited to, standing orders, refunds or bank transfers, will not be counted); and

• have a combined balance of £1,000 or more across all your Chase saver accounts each day for the entire calendar month. Balances in your current or round-up accounts are not included in this calculation.

Representative example (Chase credit card): Based on an assumed borrowing of £1,200, the representative APR is 24.9% variable, with a purchase rate of 24.9% p.a. (variable).

For more credit cards paying cashback or rewards, take a look at our cashback credit cards guide.

Lloyds Ultra Credit Card

The Lloyds Ultra Credit Card has no annual fee and pays 1% uncapped cashback on all purchases for the first 12 months, reverting to 0.25% thereafter. There are no foreign transaction fees, making it usable overseas without additional charges, and there is no monthly cap on cashback earned. Cashback is credited to the statement annually. The minimum payment must be made each month to retain cashback eligibility for that statement period.

Representative example: Based on an assumed borrowing of £1,200, the representative APR is 12.9% variable, with a purchase rate of 12.94% p.a. (variable).

Barclaycard Rewards

The Barclaycard Rewards card has no annual fee and pays a flat rate of 0.25% cashback on eligible everyday spending, with no cap on the amount that can be earned. There are no overseas loading fees, meaning the card can be used for purchases and cash withdrawals abroad without additional charges. Cashback is credited annually to the statement, though monthly crediting can be requested. Cardholders can also register for the Barclaycard Cashback Rewards scheme to earn additional cashback of up to 15% at selected partner retailers.

Representative example: Based on an assumed borrowing of £1,200, the representative APR is 28.9% variable, with a purchase rate of 28.9% p.a. (variable).

How can you make the most of cashback credit cards?

If you've decided a cashback credit card is right for you, here are 5 tips that are worth bearing in mind.

1. Use your cashback credit card as your main card. Don't fall into the trap of reserving your cashback card just for those big purchases. Instead, spend on your cashback credit card as often as you can in order to max the benefit, even if only spending a pound or two!

2. Ensure you sign up for the right card for you. It may sound obvious, but signing up for a cashback card that pays you in points for a loyalty scheme you don't use is probably a waste of time. Likewise, signing up for a cashback card that requires you to spend a set amount per year to earn any cashback at all could be a risky move if you're a small spender.

3. Interested in an Amex card? Understand the 'two year' rule. Up until a few years ago, it used to be common for experienced cashback card users to 'churn' Amex cards to earn multiple introductory bonuses in quick succession. However, Amex has since introduced a rule that prohibits anyone who has held one of its personal cards within the past 2 years from earning another intro bonus. So, if you already have an Amex card, you may wish to cancel it, switch to a non-Amex card for two years, before re-applying for a new card. That's because if you do this, you'll be able to qualify for another introductory bonus in the future.

4. Consider a non-Amex card. While on the subject of Amex cards, it's worth knowing that not all retailers accept American Express. As a result, some people might prefer a non-Amex cashback card to earn cashback at retailers where Amex isn't accepted.

5. Look to boost any reward points you earn. If you end up with a cashback credit card that pays you in points, such as Nectar points, take a look at ways you can max the value of them. For example, it's possible to boost the value of your Nectar points by using them at Cafe Nero or the Sky Store.

In terms of Amex Membership Reward points, if you like to travel, then an option can be to transfer points to Avios and use them for flight bookings or upgrades, as this can potentially provide good value. And on this note, if you're interested in using Avios points for travel rewards, take a look at our article that explains how you can use specialist airline credit cards to bag yourself a 'free' flight on BA or Virgin Atlantic.