The best credit cards for rewards and cashback

Choosing the right card can be a difficult task so Moneywise has sifted through the plastic to find the very best credit cards that reward you for your spending.

If you are going to spend large amounts and don't plan to clear the balance each month, any rewards will quickly be undone by interest payments. Instead, a credit card offering 0% on purchases would be better, ideally one offering a long introductory 0% period, which reverts to a reasonable rate of annual interest thereafter.

If you already have credit card debt, you might want to find the best credit card for balance transfer deals - preferably one charging 0% on balance transfers. But don't forget to look out for the fees too.

Here's our line-up of the best credit cards for rewards and cashback.

Find the best credit card with Moneywise Best Buys

Best credit cards for rewards

Unlike most financial products, reward cards often offer preferential rates at specific retailers, so the card that's best for you will depend on where you usually shop.

For ease of comparison, we ignore the value of any points you'd have earned using regular loyalty schemes like Clubcard or Nectar, focusing just on the points you get from these cards.

Tesco Bank Clubcard Credit Card
Earn points as you spend, representative 18.9% APR variable

The gives five points for every £4 you spend in Tesco (a point is worth a penny), and one point for every £8 you spend elsewhere. If you spend £6,000 a year, half in Tesco stores and half elsewhere, you’ll earn rewards worth £41.25. 

Sainsbury's Bank Nectar Purchase Credit Card
Earn points as you spend, representative 18.9% APR variable

If you shop in Sainsbury’s then this card will give you two points for every £1 spent in store and one point for every £5 spent elsewhere. If you spend £6,000 a year on your card, half of that in Sainsbury's, then you'll earn £33 with Sainsbury's Bank (500 points = £2.50).

Amazon Platinum Credit Card
Earn points as you spend, representative 21.9% APR variable

Offers 1.5 Amazon reward points for each £2 you spend at Amazon, and one point for every £2 spent elsewhere. Once you’ve earned 1,000 reward points, a £10 gift voucher will be credited to your Amazon account. This is an effective cashback rate of 0.75% for Amazon purchases and 0.5% on other spending. There is no annual fee and new customers will also receive a £10 Amazon gift voucher when they first sign up.

Best credit cards for cashback

If you're not a member of any retailer's loyalty scheme then a cashback deal could work out better for you. This pays you money back on all spending.

American Express Platinum Cashback Everyday Card
Get cashback as you spend, representative 22.9% APR variable

This card has an introductory offer of 5% cashback on spending up to £100 for the first three months. After that cardholders will earn 1% cashback on spending over £5,001 and 0.5% if you spend below this amount. You’ll need to bear in mind that American Express is less widely accepted than other types of credit card.

AA FuelSave 
Get cashback as you spend on fuel, representative 22.4% APR variable

This card pays 2% cashback on fuel, rising to 4% if you spend more than £500 a month. You'll also get 0.5% cashback on other spending. The card will cost you £3.50 per month, so you’ll need to spend at least £175 a month on fuel for the cashback to offset the fees. For heavy drivers, it could be well worth it though.

To see more credit cards on the market today visit the Moneywise credit card comparison tool.

 

 

 

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Your Comments

I have had the Tesco Clubcard credit card for about 15 years, and because of that I have a rate of 1 point for every £2 on non-Tesco spending which has enabled me to make good use of the rewards system. Yesterday, I got a letter from them to say that as of November 1st my account will be changing to 1 point for every £8 I spend.  This change has apparently been made to 'reflect industry changes'. I am not at all impressed, and expect to be looking for a new VISA provider very soon. 

I have also had my Tesco Clubcard credit card for many years and purchased tens of thousands of pounds with it, but also received the same letter yesterday.
I am now looking for a decent return on my spending, and so far, it seems the Santander 123 Card will be my choice, but still doing some further research. But it's definately GOODBYE to Tesco now!

I recently had an Asda Credit Card for less than two months. They have no Customer Care in my opinion. I have an excellent Credit Rating but only got £300 credit. It takes them a very long time to set up a Direct Debit so I had to pay interest on my first month's use of card and late payment charge. No understanding or help when I tried to complain and get some refund. Don't apply for one!

I've had the Asda Money Credit Card for approximately a year/ year and half now and I've earned ca. £60 cash back so far. I only really use it for ca. £50 petrol a month, some Asda shopping, car insurance, various monthly charity donations and other personal purchases. I don't use it as much as I probably should as my husband and I have another card, a joint account, we use for main food/household shopping and bills. Still, considering what I buy is what I need (i.e. I don't use the card just to get points but I do use it instead of my current account if I can), it's not a bad little earner, as long as I don't accrue interest or the rewards will get wiped out. I have to say I haven't had a problem with customer service as yet but I've only needed to call them a couple of times. The website could be a bit more user friendly, particularly the payment section. Other providers have allowed me in the past to store my details whereas here I have to enter them everytime I want to pay. Maybe it's a plus though, if it keeps your online details safe...! All in all, I still find this is the best card for me but I always keep a look out on anything new popping up with better benefits. :-)

I have an older Amex Platinum which is free but the cashback rate is tiered so I only get to the 1.25% (actually I think it's 1.5%) on spending over £10000 pa.
I like the Santander 123 as it's 3% on fuel and train tickets (capped at £9 per month) but also 2% on department stores and 1% on supermarkets, although I tend to use my Amex in supermarkets.
I also have the Barclaycard cashback which is free but offers 0.5% on all spending on the Visa plus also provides an Amex card with 1% on all spending, although I tend to use my actual Amex. I use the Visa where the 123 doesn't pay cashback and Amex isn't accepted.
I'm thinking about getting the Tesco card now though as we do most of our gorecy shopping there so might use that in preference to my Amex and then use the Barclaycard Amex where I can since I then probably won't get my real Amex spending high enough for the higher tier of cashback, although obviously I'll still use the Santander 123 where I can get 2 or 3%...