Cash Back Credit Cards
Cash Back credit cards give cash rewards to cardholders for making purchases with the card. A cardholder accumulates cash rewards based on the dollar amount of his/her purchases with that particular credit card over a period of time.
A typical cash back rate hovers around 1%. However, some cards offer a higher cash back percentage with increased usage and some offer a higher cash back percentage at select merchants. Many cash back cards offer cash back on purchases but do not offer cash rewards on balance transfers or cash advances.
Each cash back credit card is a bit different, so be sure to read the terms and conditions to find out what cash back percentage you can expect, whether there is a limit on how much can be accumulated in a year, etc. Be sure to thoroughly look over the terms and conditions for each specific card.
Shell MasterCard Citi
- Typical APR: 16.9% APR (variable)
- 3% rebate on Shell fuel spend
- 1% rebate when you use your card anywhere else; Plus 0% p.a. on balance transfers for 9 months (3% fee, minimum £5)
Amex Platinum
- Typical APR: 18.9% APR (variable)
- 5% Money Back on spend up to £4,000 during your first 3 months; then standard Money Back rate up to 1.5%
- Monthly Fee: £300 Annual Fee
Barclaycard Cashback
- Typical APR: 14.9% APR (variable)
- 1% cashback on supermarket and petrol spend (up to £15 a month)
- 0% interest on balance transfers for 12 months from account opening (2.5% handling fee applies); 0.5% cashback on all other spending (up to £15 a month)
Morgan Stanley i24
- Typical APR: 13.9% APR (variable)
- This is one benefit it's easy to put a value on. i24 gives you 1% cashback on everything you buy with your card with a cheque at the end of each year. And you can find out how much you've saved at any time online.
- 5.9% p.a. APR on balance transfers, for life; Commission free spending abroad
American Express Cashback Platinum
- Typical APR: 19.9% APR (variable)
- Monthly Fee: No Annual Fee
- 5% cashback in the first 3 months up to £100; Travel Accident; Purchase Protection