Best cashback credit cards in the UK right now
A cashback credit card is free money — if you pay it off in full every month. If you don't, the interest eats the cashback and then some. The golden rule: a cashback card is only worth having if you treat it like a debit card and clear it monthly.
We compared every major UK cashback card on the cashback rate, annual fee, interest rate, and the small print that decides whether you actually get the money.
Up to 1.25% cashback, no annual fee in year one, and the cashback lands as a statement credit every January. The catch: Amex isn't accepted everywhere, and the interest rate is eye-watering — so pay it off in full.
How cashback cards work
You spend on the card, the card gives you a percentage back. Simple. The complications are in the small print:
- Annual fees that eat your cashback
- Tiered rates (0.5% up to £5k, 1% above — that sort of thing)
- Caps on how much you can earn
- Acceptance — Amex isn't accepted everywhere, Mastercard/Visa are
The rule: if you carry a balance, throw this card away. Cashback cards have the highest interest rates in the market. The cashback is designed to lure you into carrying debt. Don't.
The winner: Amex Platinum Cashback
- Cashback: 0.75% on all spend, rising to 1.25% if you spend over £10k/year
- Annual fee: £0 in year one, £25/year after
- Welcome bonus: £20 cashback if you spend £2k in 3 months
- Interest rate: 24.9% APR representative (variable)
- Cashback payout: January statement credit
The math: if you spend £1,000/month (£12k/year), you'll earn £120–£150 cashback, minus the £25 fee = £95–£125 net. That's genuinely free money if you pay it off monthly.
The catch: Amex isn't accepted at some smaller shops, Aldi, Lidl, and some online retailers. You'll need a backup Visa/Mastercard.
The runner-up: Barclaycard Rewards
If you want a Visa card (accepted everywhere), Barclaycard Rewards gives 0.25% cashback on all spend with no annual fee. The rate is lower, but it's accepted everywhere Amex isn't. Pair it with the Amex for maximum coverage.
- Cashback: 0.25% on all spend
- Annual fee: £0
- Interest rate: 22.9% APR (still high — pay it off)
The builder option: Aqua Reward
If your credit history is patchy (defaults, late payments, thin file), Aqua Reward is one of the few cashback cards designed for credit building. 0.5% cashback (max £100/year), no annual fee, 34.9% APR. The interest rate is brutal, but if you pay it off monthly and use it to build your credit score, it's a smart tool.
What to avoid
Any cashback card with a £150+ annual fee. You'd need to spend £15k+/year just to break even on the fee. Unless you put everything (business expenses, etc.) on the card, it's not worth it.
Store cards. They're not cashback cards, they're 25% APR debt traps with a 5% discount. No.
Balance transfer cards used for spending. The 0% balance transfer is great for existing debt. But the purchase rate is often 20%+. Don't mix them up.
The honest rule
A cashback card is a tool, not a license to spend. If you currently spend £1,000/month on a debit card, switching to a cashback card earns you £90–£120/year for zero extra cost — as long as you set up a direct debit to pay it off in full every month. If you can't trust yourself to do that, stick with debit.