Barclaycard have launched a new cashback card that advertises a jaw dropping 6% headline cash back rate. However, there’s a £24 annual fee and overall it’s a bit complicated. These limitations that mean for most people we think the leading offers from Capital One and American Express will be preferable.
The 6% rate only applies during your first three months and is limited to £120. It’s also limited to your five biggest purchases of the month, with a 2% rate applied to everything else.
- After the first three months, cashback falls to 2% on your top five monthly purchases and 0.5% on everything else. Probably not as good overall for normal use as the up to 1.25% rate available from the Capital One Aspire product.
- You must spend on the card 15 times a month to access the 2% rate on your 5 biggest purchases
- There’s a 4% bonus rate in your anniversary month on the top 5 purchases
- Pay off your balance each month to avoid purchase interest at 19.9% and a 24.6% APR representative (variable).
To apply for the Barclaycard Cashback Click Here
To see the full Cashback table click here.
Representative APR 24.6% APR (variable) Purchase rate p.a. 19.9% p.a. (variable) Assumed credit limit £1,200 Annual fee £24 Subject to application and status. The terms of your product may differ from the example.