A cashback or reward credit card enables you to earn cashback or rewards as you spend. Every time you make a purchase on the card, you can earn rewards or cashback, or both. On this page you can find the key information you need to know about this type of credit card, as well as the very best offers currently available in the UK.
What is a cashback and rewards credit card and how does it work?
The rewards points or cash you earn on your credit card are generally paid as credit on your card balance or issued as vouchers. This can be done either monthly or annually.
Ideally, you would treat a reward or cashback credit card in the same way as you would a debit card, using it to purchase essentials, as well as your usual discretionary monthly spend. It's vital to make sure you pay off the balance in full each month to avoid paying interest on your spending, which could easily wipe out the rewards you earn.
If you're looking for a card to make new purchases (outside of your usual monthly spending), read our article 'Compare the best 0% purchase credit cards'. Alternatively, if you want to see our pick of the best of credit cards in the market, read 'Best credit cards in the UK'.
Find out which credit card is best for you
Comparing different credit cards is a key part of getting the best deal for you. Money to the Masses has helped to simplify this process by partnering with Creditec*, an online comparison service. You do not need to trawl through countless different provider websites hunting for the best cashback or lowest fees, as Creditec’s personalised search results will show you the key details you need to know in one place. Your tailored list will also feature the cards that you are more likely to be accepted for, cutting down the chance of any applications you make being rejected. Your search results are built using a soft credit search, so there will be no damage to your credit score. You can start your search by clicking this link*.
Which are the best cashback credit cards - June 2026
Having fully assessed the current market, here are our top cashback credit card picks, based on the cashback rate, fees, APR and other perks and benefits:
| Card name | Representative APR | Annual fee | Cashback rate | Cashback on annual spend of £5,000 in the first year |
| 29.1% variable | £0 | New cardmembers get 5% cashback on purchases (up to £125) for the first five months of Cardmembership.
Cashback rate falls to 0.5% after the five months end, then rises to 1% once you spend £10,000. Minimum annual spend of £3,000 to qualify for cashback. |
£118.74 (if you spent an equal amount every month) | |
| American Express Cashback Credit Card | 34.6% variable | £25 | 5% (up to £125) in the first three months.
Ongoing rate of 0.75% up to £10,000 per year, 1.25% over £10,000. You'll need to spend a minimum of £3,000 per year in order to qualify for the cashback. |
£90.62 (if you spent an equal amount every month) |
| Santander Rewards Credit Card | 24.9% variable | £0 | 3% cashback on petrol, EV charging, everyday travel, eating out and takeaways in first year, then falls to 0.25%
0.25% cashback on all other purchases |
£81.25 (Assumes a 50:50 split of £2,500 spent on travel/dining and £2,500 on other purchases) |
| Lloyds Ultra Credit Card | 12.90% variable | £0 | 1% for the first 12 months, then 0.25% | £50 |
| Santander All in One Credit Card | 29.8% variable | £36 (£3 per month) | 0.5% (the maximum cashback you can earn each month is £10) | £25 |
American Express Cashback Everyday Credit Card
- Cashback offer: 5% cashback on purchases (up to £125) for the first five months of Cardmembership. Cashback rate falls to 0.5% after the five months end, then rises to 1% once you spend £10,000. Minimum annual spend of £3,000 to qualify for cashback.
- Representative APR: 29.1% variable
- Representative example: When you spend £1,200 at a purchase rate of 29.1% (variable) p.a., your representative rate is 29.1% APR (variable)
- Annual fee: £0
- Why we like it: Even though the cashback rate has become less generous - previously, 1% was offered on spend over £5,000 per year - it is still one of the most competitive cards on the market. The bonus with this card compared with others in the Amex stable is there is no annual fee. You can read more on the Amex site.
American Express Cashback Credit Card
- Cashback offer: 5% cashback on purchases (up to £125) in the first three months. The ongoing cashback rate is 0.75% on spending up to £10,000 per year and 1.25% over £10,000. Minimum spend of £3,000 per year in order to qualify for cashback.
- Representative APR: 34.6% variable
- Representative example: When you spend £1,200 at a purchase rate of 29.1% (variable) p.a. with a fee of £25 per annum, your representative rate is 34.6% APR (variable)
- Annual fee: £25
- Why we like it: Those who regularly spend well over £10,000 on a credit card each year may be better off paying the £25 annual fee for the this, rather than its fee-free 'Everyday' counterpart. You can read more on the Amex site.
Santander Rewards Credit Card
- Cashback offer: 3% cashback on petrol, EV charging, everyday travel, eating out and takeaways in first year, then falls to 0.25%. 0.25% cashback on all other purchases.
- Representative APR: 24.9% variable
- Annual fee: £0
- Why we like it: Offers a 3% introductory cashback rate on daily travel and dining without an annual account fee. Read more on the Santander website.
Lloyds Ultra Credit Card
- Cashback offer: 1% cashback on purchases for the first 12 months, then 0.25%
- Representative APR: 12.9% variable
- Annual fee: £0
- Why we like it: Best non-Amex option. No fee or cap on how much cashback you can earn, but the rate drops to 0.25% after 12 months. Read more on the Lloyds Bank website.
Santander All in One Credit Card
- Cashback offer: 0.5% cashback on purchases (capped at £10 per month)
- Representative APR: 29.8% variable
- Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a. with a fee of £36 per annum, your representative rate is 29.8% APR (variable).
- Annual fee: £36 (£3 per month)
- Why we like it: With 15 months interest free on balance transfers and 15 months on purchases, as well as no foreign transaction fees on purchases in local currency, there is a lot to like about this card, not just the cashback. You can read more on the Santander site.
Which are the best rewards credit cards - June 2026
If you are looking to just earn air miles through your rewards credit card, check out our 'Which are the best air miles credit cards – and should I get one?' page.
Here are our top rewards cards offering a range of different points:
| Card name | Representative APR | Annual fee | Rewards rate |
| 85.8% | £195 (£0 in first year) | 1 point for every £1 spent, 2 points for every £1 spent on purchases directly with an airline, 3 points for every £1 spent on American Express Travel
Earn 20,000 Amex points if you spend £3,000 or more in the first 3 months |
|
| 29.1% | £0 | 1 point for every £1 spent
10,000 bonus Amex points (minimum £2,000 spend in first 3 months) |
|
| HSBC Rewards Credit Card | 26.9% | £0 | 10 points for every £1 spent on your card at select retailers and 1 point for every £5 spent elsewhere
New cardholders get 2,500 welcome points (worth £25) after making the first card transaction Earn an additional 2,500 bonus points if you spend £500 in the first 90 days (Offer ends 3rd July) |
| Amazon Barclaycard Credit Card | 28.9% | £0 | 1% 'cashback' (paid in Amazon rewards that can be exchanged for gift cards) on Amazon, Audible, Kindle and Prime Video spending; 0.5% cashback on non-Amazon spending in the first year, then 0.25%; 2% cashback for Prime members during special shopping events, such as Prime Day. £5 in Amazon rewards can be exchanged for a £5 gift card |
| John Lewis Partnership Credit Card | 29.9% | £0 | Earn double points (10 points for every £4 spent) on your eligible spending at John Lewis and Waitrose in the first 60 days from account opening
Then 5 points for every £4 spent at John Lewis and Waitrose and 1 point for every £10 spent elsewhere |
American Express Preferred Rewards Gold Credit Card
- Reward offer: Earn 20,000 Amex points if you spend £3,000 or more in the first 3 months
- Rewards rate: 1 point for every £1 spent, 2 points per £1 for purchases made directly with an airline, 3 points per £1 for spending with American Express Travel
- Representative APR: 85.8% variable
- Representative example: When you spend £1,200 at a purchase rate of 29.1% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £195 per annum, your representative rate is 85.8% APR (variable)
- Annual fee: £195 (£0 in the first year)
- Why we like it: Although it has a high APR and annual fee, this American Express card offers a great deal of flexibility as you can use the points with numerous air miles loyalty schemes, as well as with a wide range of retailers. You can read more on the Amex site.
American Express Rewards Credit Card
- Reward offer: 10,000 bonus Amex points if you spend at least £2,000 in first 3 months
- Rewards rate: 1 Amex point per £1 spent
- Representative APR: 29.1% variable
- Representative example: When you spend £1,200 at a purchase rate of 29.1% (variable) p.a., your representative rate is 29.1% APR (variable)
- Annual fee: £0
- Why we like it: Flexibility on how you use your points, including transferring them to airline loyalty schemes, redeeming with Amazon and more. You can read more on the Amex site.
HSBC Rewards Credit Card
- Reward offer: 2,500 welcome points worth £25 when you make your first transaction, extra 2,500 bonus points if you spend £500 or more in first 90 days
- Rewards rate: Up to 10 points for every £1 spent with selected retailers and 1 point for every £5 spent elsewhere
- Representative APR: 26.9% variable
- Annual fee: £0
- Why we like it: You can use the points instantly against purchases you make on the card, using the Pay with Rewards app. Plus, you will pay 0% interest on purchases and balance transfers for the first six months. You can read more on the HSBC website.
Amazon Barclaycard Credit Card
- Rewards offer: £40 Amazon gift card if you apply before 16th July, plus extra £10 Amazon gift card after you activate card in Barclays or Barclaycard app
- Rewards rate: 1% 'cashback' (paid in Amazon rewards that can be exchanged for gift cards) on Amazon, Audible, Kindle and Prime Video spending; 0.5% cashback on non-Amazon spending in the first year, then 0.25%; 2% cashback for Prime members during special shopping events, such as Prime Day or Black Friday. £5 in Amazon rewards can exchanged for a £5 gift card
- Representative APR: 28.9% APR variable
- Representative example: When you spend £1,200 at a purchase rate of 28.9% (variable) p.a. with a fee of £0, your representative rate is 28.9% APR (variable)
- Annual fee: £0
- Why we like it: Great for those who regularly buy items on Amazon, plus interest-free on purchases for 6 months from the date the account is opened. You can read more on the Barclaycard website.
John Lewis Partnership Credit Card
- Rewards offer: Earn double points (10 points for every £4 spent) on your eligible spending at John Lewis and Waitrose in the first 60 days from account opening
- Rewards rate: 5 points for every £4 spent at John Lewis and Waitrose and 1 point for every £10 spent elsewhere
- Representative APR: 29.9% variable
- Annual fee: £0
- Why we like it: If you regularly shop for groceries at Waitrose or spend at John Lewis, it's a great way to earn extra points. The introductory 60-day double-points window gives you a fast-track route to your first batch of shopping vouchers. You can read more on the John Lewis website.
How to make the most of your cashback or reward credit card
When you are considering which is the best cashback or reward credit card for you, you will need to weigh up the features it offers, including:
Reward/cashback deal
You need to choose a card that fits in with your normal spending habits to make the most of the rewards or cashback it offers. For example, if there is a minimum annual spend required, you need to assess whether it is realistic you are going to meet it. In addition, you need to balance any initial introductory offer with the long-term benefits it offers - while 3% cashback for 3 months may seem attractive, it is not as good as 1% cashback for 12 months.
As previously mentioned, you should also compare the relative value of the reward on offer, as well as making sure you are going to make maximum use out of the card.
Annual fee
The most competitive cards in the market with the highest cashback or rewards can often have a high annual fee. You need to assess how much you are likely to earn on the card in cashback or rewards and see if it justifies paying the fee. At the same time, there are a number of fee-free options that still offer good levels of rewards, so if you are not sure how much you are likely to use the card and don't want to risk having to pay out a high annual fee, this may be a better option for you.
Interest rate
The representative APR on cashback and reward credit cards tends to be higher than for other types of cards. The best way to avoid this being an issue is to ensure you pay off the full balance each month as this means you won't have to pay any interest at all. It is wise, however, to take into account the APR on the card you choose just in case you do end up carrying over some of the balance because of an unexpected change in circumstances later down the line.
Additional perks
As well as the reward or cashback on offer, these cards can sometimes provide other benefits, including discounted tickets to live events, free travel insurance, no foreign usage fees or airport lounge access. Again, it is necessary to work out whether you are likely to make full use of these perks and how they fit in with the other features of the card. Depending on how you use it, it may be better to have a higher overall cashback rate, for example, rather than the ability to access exclusive tickets to concerts and shows.
Things to consider before getting a cashback or reward credit card
Always consider your financial circumstances before applying for any credit card. Getting caught up in the excitement of cashback deals and rewards can sometimes cloud your judgement and leave you struggling to clear the credit card balance, especially as cashback credit cards tend to charge higher interest than other cards.
It is absolutely vital that you clear the outstanding debt each month to ensure you use the card to its full potential. The advertised cashback rewards and bonuses are often subject to your own personal circumstances and so be prepared to either be rejected or offered alternative terms if your finances are not in good shape.
All applications are subject to credit checks so make sure you know your chances of being accepted before you apply. Most companies will allow you to check your eligibility before you apply, resulting in a 'soft search' that doesn't impact your credit score.
Pros and cons of a cashback and reward credit card
Pros of a cashback and reward credit card
- You can earn rewards or cashback on the normal spending you would be doing anyway, if you pay the balance in full each month and don't overspend
- You can choose a card to match your interests, such as an air miles card for a frequent traveler
- As with all credit cards, you will benefit from Section 75 protection
- Some cards offer other perks in addition to the cashback or rewards, such as 0% spending or interest-free balance periods
- You may be able to access retailer discounts or priority access to tickets for gigs and events
Cons of a cashback and reward credit card
- You may not be able to redeem your rewards points exactly how you want to, for example rewards flights are not always available on every route
- You may need to pay an annual fee
- Rewards cards give you less flexibility over how you can make use of your rewards, compared to cashback
- The promise of cashback or rewards points can encourage cardholders to spend over and above what they normally would, especially if there is a certain level of spending required to unlock bonus points
- These cards usually come with a higher APR than alternative credit cards
- Your rate of cashback or the amount of points you can earn per pound spent can be cut with little notice
Alternatives to a cashback or reward credit card
It can be simpler to use a debit card for purchases as it ensures that you only ever spend the money you have, and, subject to overdraft charges, means you won't be charged. You can also find debit cards offering very competitive levels of cashback. If you are looking to spread the cost of a purchase or make a balance transfer, it may be worthwhile forgoing rewards to get the best 0% interest period possible.
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