Top credit cards offering the highest cashback rewards
Cashback Credit Cards: A Guide to the Best Deals in 2022
Despite the market struggles following the 2015 rules introduction, there are still good cashback deals available for savvy consumers. In this article, we'll take a look at some of the top cashback credit cards currently on the market, including the American Express Platinum Cashback Credit Card and Santander Edge credit card.
First, let's discuss the American Express Platinum Cashback Credit Card. This card offers 5% cashback in the first three months (up to £125 cashback) and an extra £25 bonus cashback. After the initial period, cardholders can expect 0.5% cashback on all purchases up to £15,000 and 1% cashback on anything over £15,000. It's important to note that American Express Platinum Cashback Credit Card charges a 2.95% fee on all foreign transactions. The card also has a £25 annual fee and a £15 monthly fee to hold the card.
Another option to consider is the American Express Platinum Cashback Everyday Credit Card. This card offers 5% cashback (up to £125) on purchases in the first five months. After the initial period, cardholders can expect 0.5% cashback on all purchases up to £10,000 and 1% cashback on anything over £10,000. The representative APR for this card is 31.0% if you fail to pay in full, and there is a £25 annual fee.
For those looking for a card with no foreign exchange fees, the Santander Edge credit card is a good option. This card requires cardholders to hold a Santander or Cahoot current account to qualify and has a £3 monthly fee. It offers 0% interest on purchases for 15 months, as well as 0% interest on balance transfers for the same period, with no balance transfer fee. The representative APR for the Santander Edge credit card is 29.8%.
The Santander All In One Credit Card is another option to consider. This card has a monthly fee of £3 and offers 0% interest on purchases for 15 months, as well as 0% interest on balance transfers for the same period, with no balance transfer fee. It also has no foreign exchange fees on purchases overseas. The representative APR for the Santander All In One Credit Card is 29.8%.
It's important to keep in mind that cashback credit card providers often charge fees and typically offer uncompetitive interest rates. Cardholders should be mindful of these fees and make sure to pay off the full amount every month to avoid interest charges.
For those looking for even more cashback benefits, there are several other options to consider. The best cashback credit cards in 2022 include the Trade Republic Card, Revolut Standard, and Vivid Money, all offering various cashback benefits and no or low fees. The Amex PAYBACK Card and TF Bank Mastercard Gold are also worth considering, as they offer a range of cashback benefits and low fees.
In conclusion, there are a variety of cashback credit cards available to consumers, each with its own set of benefits and drawbacks. By carefully considering the fees, interest rates, and cashback rates, cardholders can find the best option to suit their needs and maximize their savings.
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