Compare cashback credit cards
Compare cashback credit cards
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How do cashback credit cards work?
Earn money when you spend
Get a percentage of your purchases back as cash
Simple and flexible - no points to track and exchange
Protection on eligible purchases over £100
Cashback credit cards put money back in your pocket when you spend. No points or vouchers to track and exchange, just real cash. So, using one for everyday purchases and making sure you clear the balance in full each month can be an easy way of getting a bit for your money.
How do cashback credit cards work?
Every time you use your card, you’ll earn a percentage of what you spend back. This could be a flat rate on everything you buy, or it could change depending on where you’re spending. Any cashback is usually paid into your account either monthly or annually.
Card providers are usually able to offer cashback to customers because they charge retailers a fee when taking payments.
How to apply for a cashback credit card
Compare your offers
Shop around and look at what different providers are offering. Some cards will give you flat rates on everything, while others might pay more for specific purchases like groceries or fuel.
Check your eligibility
Using an eligibility checker will help you find out your chances of being accepted before you apply. TotallySure offers come with pre-approval and guarantees.
Get accepted
Once you’ve been approved, you’ll need to wait a few days before you receive your card. Then you can start earning cashback on your spending.
Clear the balance monthly
It’s a good idea to set up a Direct Debit to automatically pay off your balance in full every month. If you don’t, it’s likely that the interest you pay will cost you more than the cashback you earn.
Types of credit card
There are a number of different types of credit card on the market, such as:
Balance transfer
If you want to cut the interest on your existing debts, a balance transfer credit card is for you. With a balance transfer credit card you can move balances you've accumulated on other credit cards and enjoy 0% interest for a set period of time.
Purchase
This is the simplest type of credit card. With a purchase card you'll get a 0% interest period for a set amount of time, allowing you to spend without accruing any interest, even if you don't pay your balance back in full each month.
Cashback
If you clear your credit card balance every month, and have no plans to build up any debt, a cashback credit card is a good option. These cards reward your spending habits by giving you a percentage of your spending back in the form of cash.
Rewards
An alternative option for people who clear their balance each month is a rewards credit card. Rather than paying you back with cash, these cards offer various forms of points in return from using them. These can range from airmiles to supermarket points.
Travel
An alternative option for people who clear their balance each month is a rewards credit card. Rather than paying you back with cash, these cards offer various forms of points in return from using them. These can range from airmiles to supermarket points.
Credit builder
If you have poor credit, a poor credit card can help you build your credit rating over time. While they have high interest rates, if you pay your balance in full each month, they can be an effective way of showing lenders you can be trusted.
What are the pros and cons of cashback credit cards?
There are advantages and disadvantages to having credit cards, such as:
Pros
Real money back - Get cash back instead of points or vouchers, giving you the freedom to spend it how and where you like.
Simple to understand - Points systems can be confusing and often come with expiry dates. With cashback you earn a percentage of what you spend.
Works on everyday spending - Get cashback on everyday purchases and spending like groceries, fuel and bills.
Section 75 protection - Eligible purchases between £100-£30,000 are protected if something goes wrong.
Good for regular spenders - If you use your card regularly, the cashback can add up over time.
No restrictions - Unlike rewards cards that use points or vouchers, cashback can be used anywhere or saved.
Real money back - Get cash back instead of points or vouchers, giving you the freedom to spend it how and where you like.
Simple to understand - Points systems can be confusing and often come with expiry dates. With cashback you earn a percentage of what you spend.
Works on everyday spending - Get cashback on everyday purchases and spending like groceries, fuel and bills.
Section 75 protection - Eligible purchases between £100-£30,000 are protected if something goes wrong.
Good for regular spenders - If you use your card regularly, the cashback can add up over time.
No restrictions - Unlike rewards cards that use points or vouchers, cashback can be used anywhere or saved.
Cons
Only works if you clear it monthly - If you miss a payment, the interest charges are likely to cost you more than the cashback you earn.
Annual fees on some cards - Some of the more competitive cashback cards often charge a yearly fee, so work out if you’ll earn enough to cover any costs.
Lower rates after introductory periods - Banks usually offer better incentives for the first few months, and then drop them to a lower ongoing rate.
Best rates need good credit - The best cards with the best cashback offers are usually only available to people with the best credit scores.
Cashback is often capped - Many cards will put a limit how much you can earn, so check the terms.
Can encourage overspending - A cashback card could tempt you to spend more just to earn rewards.
Only works if you clear it monthly - If you miss a payment, the interest charges are likely to cost you more than the cashback you earn.
Annual fees on some cards - Some of the more competitive cashback cards often charge a yearly fee, so work out if you’ll earn enough to cover any costs.
Lower rates after introductory periods - Banks usually offer better incentives for the first few months, and then drop them to a lower ongoing rate.
Best rates need good credit - The best cards with the best cashback offers are usually only available to people with the best credit scores.
Cashback is often capped - Many cards will put a limit how much you can earn, so check the terms.
Can encourage overspending - A cashback card could tempt you to spend more just to earn rewards.
Our expert says
“The key to cashback cards is treating them like a debit card, and only using it for what you would usually spend anyway, and then clearing the balance in full every month. Using them responsibly will quite literally put money back in your pocket. But if you carry debt, the interest you pay could quickly wipe out any cashback.”
“It’s important to keep an eye out for attractive introductory rates, as these can sometimes drop after just a few months. Some cards will also cap how much you can earn, so check the small print before you jump in.”
Alastair Douglas, CEO of TotallyMoney
How to find the right cashback card
Finding the best cashback card depends on your own personal spending habits, how often you use the card, what you use it for, and if you're able to clear the balance every month.
Flat-rate cashback cards will give you the same percentage back on everything you buy. They’re easy to understand, simpler to use, and good if you shop at different places rather than sticking to one retailer.
If you’re loyal to one supermarket, their branded card might offer better cashback rates when you shop there.
Some cards come with tiered rates which can work well if you’re a high spender. You might earn a lower percentage on the first £10,000 you spend, and a higher rate after that. Watch out for annual fees, and remember to do the calculations to see if you’ll earn enough cashback to justify it.
If you want to keep things simple, then a flat-rate card with no caps or tiers is likely to be the easiest option. You’ll know exactly what you’re getting back on every purchase.
Some cashback cards don’t charge fees when you spend abroad, which means you can earn cashback overseas without extra costs eating into what you earn. Just read the small print before you apply.
TotallySure offers come with pre-approval, guaranteed credit limits, offer lengths and APRs. That way, you know exactly what you’re getting before you apply.
Why use TotallyMoney
With TotallyMoney, you can compare credit cards from across the UK market and check your eligibility before making an application. This will help protect your credit score as you can then only apply for cards you’re likely to be accepted for. Too many rejections can have a negative impact on your credit score.
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Credit card FAQs
When you buy something with a cashback card, you earn a percentage back on what you’ve spent. This could be a flat rate, or different rates for different types of spending.
Cashback is usually paid monthly or annually, and can either be a credit on your statement or sent directly to your account.
Cashback gives real money back. Rewards on the other hand are usually points that you can exchange for specific things, such as vouchers or air miles. And that means cashback is usually simpler and more flexible.
This depends on the card and how much you spend. Different providers will offer different offers, and most will cap how much you can earn annually. So always remember to check the terms.
Basic cashback cards are often free, while premium ones might charge you to use them. Before applying for a card with a fee, work out if you’ll earn enough in cashback to cover the cost.
If you use them smartly and clear the balance every month, cashback cards can be worth it. If you don’t, the interest you pay can quickly cost more than the cashback you earn.
Like all credit cards, eligible purchases between £100 and £30,000 on a cashback card are covered by Section 75 of the Consumer Credit Act. This means your card provider shares legal responsibility with the seller if something goes wrong.
Your chances of being accepted will depend on your credit history. Just remember that the best offers will usually only be available to people with stronger credit scores. Check your credit report before you apply to make sure the information is correct and up to date, and start taking the right steps to building your score and unlocking the best offers.
Most providers will cap how much you can earn per year, and this could be a fixed amount, or based on how much you spend. Make sure you read the small print before applying to avoid any surprises.
If you travel a lot, check to see if your provider charges you for using your card abroad, as these fees can eat into your cashback.
Avoid overspending to earn cashback, as you might end up carrying a balance – and that could cost you more than the money you earn. Also check for annual fees and work out if they’re worth it, and don’t forget to factor in lower rates after introductory periods end.
Related articles
See more guides
Earn Money with a Cashback Credit Card
Get paid to spend with a cashback card – you’ll earn money back on every purchase, which could add up to hundreds of pounds a year if you clear your balance each month.
Getting the Most from Your Rewards Credit Card
Earn points on every purchase and exchange them for flights, shopping vouchers, or supermarket rewards – just make sure you pay off your balance in full to avoid interest wiping out your gains.
How to choose the right credit card
Find the right credit card for what you need – whether that’s paying off debt, spreading the cost of a purchase, or earning cashback when you spend.
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