Chase cuts its 1% cashback offering in major blow to customers

Chase Bank customers won't be able to earn cashback on purchases made outside the UK or on purchases made in currencies other than GBP from April 7, 2025. In addition, customers will only be able to earn cashback in categories including food, transport, and fuel.

Currently, customers can earn cashback on international transactions across a wide range of categories with a few exceptions. The new rules represent the latest shift towards a more limited cashback offer.

Back in 2023, Chase introduced a £15 monthly cashback cap. Prior to this, customers were able to earn unlimited cashback for the first 12 months.

Then, last year, existing customers whose introductory offer expired were moved to the Everyday Cashback scheme instead. Under the Everyday Cashback scheme, customers must now deposit at least £1,500 a month to qualify for 1% cashback on their spending indefinitely. The introductory offer, also known as the Monthly Cashback offer, requires a £500 deposit each month instead. This offer, however, is limited to 12 months.

The news comes after Chase was only recently voted Britain's favourite bank in an Ipsos survey involving approximately 17,000 participants across the UK. Below, we explore Chase's latest cashback changes as well as a few alternatives to consider if you feel like Chase is no longer the right cashback card for you.

How does Chase's cashback offer work?

With Chase, you can receive 1% cashback on eligible debit card or contactless purchases up to £15 per month. The exact amount you need to deposit to qualify for Chase's cashback depends on the type of cashback offer you're eligible for. If you're on Chase's Everyday Cashback offer, you'll need to deposit £1,500 per month to qualify. The Monthly Cashback offer has a lower requirement of £500 per month but this is only available to customers for 12 months.

If you earn cashback, your rewards balance will be credited after the relevant payments have been cleared. Your cashback will be rounded up to the nearest penny. If you want to redeem it, all you need to do is transfer the cash from your rewards balance to another account you hold with Chase.

Currently, the 1% cashback is available on eligible purchases such as your weekly food shop, meals out, flights, and spending abroad. Some restrictions apply, including gambling transactions, debt repayments, purchases at antique shops and art galleries, among others. A full list is available on Chase's website.

How is Chase's cashback offer changing in April 2025?

From April 7, 2025, Chase customers will only be able to earn 1% cashback on purchases made in the UK in GBP across categories including food (specifically groceries), transport, and fuel. International spending and spending across other categories will no longer be eligible for cashback under the new rules.

Here is what the eligible categories will look like in practice:

• Groceries - purchases from supermarkets, convenience stores and other food markets are eligible, but some delivery services, like Deliveroo, are excluded
• Transport - most public transport purchases, such as ferries, bus lines, and railroads, are included, however, taxis are excluded
• Fuel - purchases from service stations and petrol pumps at major supermarkets are included, and so are electric vehicle charging points (but not charging points at home)

Chase can make changes to its cashback offer at any time but will typically aim to give customers at least 30 days' notice prior to any changes taking effect.

Chase cashback alternatives in 2025

Despite the upcoming cashback changes, Chase remains a lucrative cashback provider in 2025. It also offers many other features that make it a popular choice, which we highlight in our independent Chase review.

That being said, there are other cashback alternatives on the market.

Best cashback bank accounts

The table below sums up some of the best cashback accounts right now to help you decide whether Chase is right for you.

	Chase	Santander Edge	Santander Edge Up	Halifax Rewards Account
Cashback offer	1%	1%	1%	£5
Monthly cashback cap	£15	£20	£30	£5 (or a cinema ticket or 3 digital magazines)
Monthly account fee	£0	£3	£5	£3 or free if you pay in £1,500
Minimum deposit per month	£500 or £1,500 depending on offer	£500	£1,500	£1,500
Other criteria	Only on eligible purchases	Must have 2 active direct debits and must pay bills via direct debit	Must have 2 active direct debits and must pay bills via direct debit	Spend £500 with your debit card every month or keep at least £5,000 in your account

The information in the table above is accurate as of 05/03/2025. 

If you want to find out more, make sure to check out our round-up of the best bank account switching offers, cashback and incentives on the market right now. We update our list frequently, so it's worth bookmarking for future reference.

Best cashback credit cards

If you're specifically looking for a cashback credit card rather than a bank account, take a look at our round-up of the best cashback credit cards in the UK. And if Chase was your go-to card for earning cashback abroad, our overview of the best travel credit cards includes the Barclays Rewards Credit Card which offers fee-free spending abroad.

The table below shows the best cashback credit cards in the UK right now.

	American Express Cashback Everyday Credit Card	Barclaycard Rewards Card	Santander Edge Credit Card
APR	30.4%	28.9%	29.8%
Annual fee	£0	£0	£36 (£3 a month for the Santander Edge account)
Cashback offer	5% for the first five months, then 0.5%, then goes up to 1% when you spend at least £10,000	0.25% on eligible purchases + up to 15% cashback at participating retailers	2% cashback on purchases for the first year, then 1% cashback after the first year
Cashback cap	Up to £125 for the first five months	Not applicable	Up to £15 per month
Minimum spend required	£3,000 per year to qualify for cashback	Not applicable	Not applicable
Other info	Travel accident insurance on public transport when you buy your ticket with the card	Fee-free spending abroad	Fee-free spending abroad; Needs a Santander Edge account

The information in the table above is accurate as of 05/03/2025.

For many customers, Chase's 1% cashback offer will still be lucrative even though it'll soon be limited to UK spending and fewer categories. Chase is a free account which offers up to £15 in cashback per month which will still likely suit most people looking for a free and easy way to earn cashback on their spending. Halifax, its competitor, is free if you deposit £1,500 each month but only offers £5 in cashback each month.

That said, there is plenty on the market for those who are no longer happy with what Chase has to offer - from credit cards offering up to 5% in cashback to paid bank accounts offering up to £30 per month.