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 Platinum 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 any 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 September 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.

When a cashback credit card may not be cost-effective

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. For an existing balance, 0% balance transfer cards are a category worth comparing, since interest charges on existing debt typically outweigh cashback earnings from a cashback card.

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. A lower credit score can be improved over time using several established methods.

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. This is a relevant factor for anyone planning a mortgage or other significant credit application in the near term.

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: Representative 29.1% APR variable. Based on an assumed credit limit of £1,200 at 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: Representative 34.6% APR variable. Based on an assumed credit limit of £1,200 at a purchase rate of 29.1% p.a. (variable) and a £25 annual fee.

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: Representative 85.8% APR variable. Based on an assumed credit limit of £1,200 at a purchase rate of 29.1% p.a. (variable) and a £195 annual fee.

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: Representative 24.9% APR variable. Based on an assumed credit limit of £1,200 at 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: Representative 14.9% APR variable. Based on an assumed credit limit of £1,200 at a purchase rate of 14.94% 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: Representative 28.9% APR variable. Based on an assumed credit limit of £1,200 at a purchase rate of 28.9% p.a. (variable).

How can you make the most of cashback credit cards?

If you are considering a cashback credit card, here are five general factors to bear in mind:

1. Cashback applies to everyday spending, not just large purchases. Using the card for regular purchases, in addition to bigger ones, means cashback is earned on that spending too, rather than only on occasional large transactions.

2. Matching the card's reward type to actual usage matters. A card paying points in a loyalty scheme that goes unused delivers little value. Similarly, a card with a minimum annual spend requirement may not pay out any cashback at all for lower levels of spending.

3. Amex's 'two year' rule affects repeat intro bonuses. Amex now prohibits anyone who has held one of its personal cards within the past 2 years from earning another introductory bonus. This ended the previous practice of 'churning' between Amex cards to claim multiple intro bonuses in quick succession, because a new bonus is only available after a full two-year gap without an Amex personal card.

4. Amex acceptance varies by retailer. Not all retailers accept American Express, so a non-Amex cashback card will earn cashback at a wider range of retailers.

5. Points-based rewards can sometimes be worth more through certain redemption routes. Nectar points, for example, can be worth more when redeemed at Caffè Nero or the Sky Store than at standard value. Amex Membership Rewards points can also be transferred to Avios and used for flight bookings or upgrades, which is a further redemption option worth knowing about for those who travel.