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About rewards credit cards
Earn money or points on your spending
Get real value form everyday purchases
Extra protection on eligible purchases over £100
Access to exclusive perks and benefits
With a rewards credit card, you get something extra back when you spend. That might be cashback that goes straight back into your account, points you use for shopping, or air miles that can go towards your holidays.
How do rewards credit cards work?
Every time you use a rewards card, you’ll earn something back - usually cashback (a percentage of what you spend) or points that you can exchange for vouchers, travel, or other rewards. Some cards also throw in extra perks like airport lounge access or exclusive shopping discounts.
How to apply for a rewards credit card
Compare your options
A supermarket branded card might be best if you do a big weekly shop, whereas cashback cards can give you more flexibility.
Check your eligibility
Find out your chances of being accepted before you apply. Keep an eye out for TotallySure offers which come with pre-approval and guarantees.
Get accepted
Once you’ve been approved, you’ll need to wait for a few days before you receive your new card. Then you can start earning rewards on your spending.
Use it wisely
Set up a Direct Debit to clear your balance in full every month. If you don’t pay off what you owe, you could start paying interest.
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 rewards credit cards?
There are advantages and disadvantages to having credit cards, such as:
Pros
Earn while you spend - Get cashback or points on purchases you’d make anyway, turning everyday spending into real rewards.
Section 75 protection - Eligible purchases between £100-£30,000 are protected if something goes wrong, with your card provider sharing responsibility with the seller.
Build your credit score - Using the card responsibly and paying it off each month can show lenders you’re able to manage credit, which can improve your credit rating.
Extra perks - Some cards offer benefits like airport lounge access, travel insurance, or exclusive shopping discounts.
Works for big spenders - If you put a lot through your card each month and pay it off in full, the rewards can really add up.
Earn while you spend - Get cashback or points on purchases you’d make anyway, turning everyday spending into real rewards.
Section 75 protection - Eligible purchases between £100-£30,000 are protected if something goes wrong, with your card provider sharing responsibility with the seller.
Build your credit score - Using the card responsibly and paying it off each month can show lenders you’re able to manage credit, which can improve your credit rating.
Extra perks - Some cards offer benefits like airport lounge access, travel insurance, or exclusive shopping discounts.
Works for big spenders - If you put a lot through your card each month and pay it off in full, the rewards can really add up.
Cons
Only works if you clear it monthly - Miss a payment or carry a balance, and the interest charges can cost you more than the rewards you’re earning.
Annual fees on some cards - Premium rewards cards often come with a yearly fee, so you’ll need to earn enough rewards to justify the cost.
Can encourage overspending - Rewards cards can sometimes tempt you to spend more just to earn points – so be careful not to fall into the trap.
Rewards can expire - Unlike cashback, rewards often have expiry dates, so you’ll need to keep track and use them before they go.
Best cards need good credit - The cards with the most generous rewards will usually only be available to people with the best credit scores.
Limited where you can use rewards - Some rewards can only be spent with certain retailers or at specific times, so make sure your card matches your lifestyle.
Only works if you clear it monthly - Miss a payment or carry a balance, and the interest charges can cost you more than the rewards you’re earning.
Annual fees on some cards - Premium rewards cards often come with a yearly fee, so you’ll need to earn enough rewards to justify the cost.
Can encourage overspending - Rewards cards can sometimes tempt you to spend more just to earn points – so be careful not to fall into the trap.
Rewards can expire - Unlike cashback, rewards often have expiry dates, so you’ll need to keep track and use them before they go.
Best cards need good credit - The cards with the most generous rewards will usually only be available to people with the best credit scores.
Limited where you can use rewards - Some rewards can only be spent with certain retailers or at specific times, so make sure your card matches your lifestyle.
Our expert says
“If used in the right way, rewards cards can be a great way of getting the most out of your spending, as you can earn extra points or cashback on everyday purchases. Just make sure you choose the card that best suits lifestyle, so you can maximise what you get in return.”
“Remember that rewards cards often come with higher rates, so clear your balance every month or you might find yourself paying interest. And try not to spend more than you need to just to chase points.”
Alastair Douglas, CEO of TotallyMoney
How to find the right rewards card
Finding the best rewards card depends on where you actually spend your money, how much you spend, and if you’re able to clear the balance in full every month.
With a cashback card, you will get a percentage back of what you spend as real money – meaning no points or vouchers. These cards are usually simpler to use and more flexible, meaning they’re a great all-round option. Just keep an eye out for annual fees.
If you’re loyal to the same supermarket and shop there regularly, then a branded rewards card might be a good option as you can earn extra points and discounts on the things you would usually be buying anyway.
Air miles are points that you can usually spend on flights or hotel stays. These are often more premium cards, which come with higher annual fees, meaning they only really make sense if you spend and travel a lot.
While it’s not their main purpose, making regular purchases with a rewards card, and paying them off in full every month can show lenders that you’re able to manage credit well. Just don’t fall into the trap of spending more than you can afford to pay back.
The rewards can really add up if you spend a lot, and pay it off in full each month – and you might even justify the annual fee on a premium card.
TotallySure offers come with pre-approval, guaranteed credit limits and APRs. That way you’ll know exactly what you’ll get before you apply, with no nasty surprises.
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 spend with a rewards card, you get something back – usually cashback as a percentage of what you spend, or points that you can spend at certain retailers. You’ll just need to try and repay the full balance every month, as these cards often come with higher APRs and no special interest-free periods. And that means if you don’t keep up with repayments, the interest you incur is likely to cost you more than the rewards you earn.
Cashback cards give you money back – usually as credit on your statement or paid directly into your account. Points on the other hand need to be exchanged for specific rewards like shopping vouchers, air miles, and other experiences. Cashback is simpler and more flexible, but points may offer better value used smartly.
Rewards cards can be worth it if you choose the best one to suit your lifestyle, and you clear your balance in full every month. That way, you’ll be earning on what you’d usually be spending anyway at no extra cost.
Some do and some don’t. Standard rewards cards are often free, while premium ones with better perks are likely to come with an annual fee. Before taking out a card with a fee, do the calculations, and work out if you’ll be earning enough in rewards to justify the added cost.
Yes. Like all credit cards, rewards cards come with Section 75 protection on eligible purchases between £100 and £30,000. This means your card provider shares legal responsibility with the seller if something goes wrong.
Your chances of being accepted for credit product will usually come down to your credit history. Cards with the best rewards usually go to people with stronger credit profiles. But there may be options for people with not so perfect credit too – it’s just likely that they’ll have lower cashback rates or fewer perks.
Make sure to check your eligibility before applying so you know your chances of being accepted. And look out for TotallySure offers which come with pre-approval and guaranteed terms.
If you don’t pay off your balance in full each month, it’s likely that you’ll start paying interest on what you owe. And you could quickly end up paying more in interest than you’re earning in rewards.
Many points-based schemes have expiry dates – and they can be as short as a year or two. Cashback usually doesn’t expire, which is another reason it’s often simpler. Always read the small print so you don’t lose rewards you’ve earned.
You can, but watch out for transaction fees on ATM withdrawals and spending. The costs can quickly add up, so you might be better off using your debit card, or getting a specialist travel card.
Managing several cards with different rewards schemes, payment dates, and terms can be complicated, and you might find yourself missing payments or building up debt. Plus, making multiple applications in a short amount of time can impact your credit file. So, it might make more sense to find the card that best matches your spending habits and stick with it.
It’s important to avoid carrying a balance and paying interest as this is likely to cost you far more than the value of any rewards. That means you should also avoid overspending to earn more points. If your card comes with high annual fees, work out the value you’re getting from the rewards to make sure you’re getting value for money.
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See more guides
How to improve your credit score
Build a better credit score to unlock the best rewards cards – make payments on time and keep your credit usage low to access better deals.
Section 75 protection explained
Understand your purchase protection rights – rewards cards give you Section 75 coverage on purchases between £100-£30,000 if something goes wrong.
Best credit cards
Find the right credit card for what you need – whether that’s earning rewards, paying off debt, spreading costs, or spending abroad.
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