Best cashback and reward credit cards 2024

Cashback and reward credit cards can help you make money back every time you spend
Grace WitherdenSenior writer
Sam WilsonMarket analyst
Woman happy with her cashback credit card rewards

What are cashback and reward credit cards?

A cashback credit card is a type of reward credit card that pays you a percentage of what you spend. Usually, you'll get this as a credit on your bill, or in some cases it'll be paid straight into your bank account; monthly, quarterly or annually.

Other reward credit cards will offer points based on your spending, often linked to particular retailers, which can be converted into vouchers. 

This guide reveals the best cashback and supermarket reward credit card deals on the market and provides tips for using these credit cards effectively.

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Best cashback credit card deals

Below we've set out the best cashback credit card deals available right now paying the highest rates of cashback.

Please note that the information in this article is for information purposes only and does not constitute advice. Please refer to the particular terms & conditions of a credit card provider before committing to any financial products.

Santander Edge Credit Card
75%2%a£36£52£10429.8% Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 23.9% (variable), representative 29.8% APR (variable). Credit available subject to status. Terms apply.
best buy
RECOMMENDED PROVIDER
American Express Platinum Cashback Credit Card
79%0.75%b£25£39£94.2536.7% Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 31% (variable), representative 36.7% APR (variable). Credit available subject to status. Terms apply.
best buy
RECOMMENDED PROVIDER
American Express Platinum Everyday Cashback Credit Card
79%0.5%c£0£26£12531% Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 31% (variable), representative 31% APR (variable). Credit available subject to status. Terms apply.
Lloyds Bank World Elite Mastercard
68%0.5%d£180£26£2655% Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 22.94% (variable), representative 55% APR (variable). Credit available subject to status. Terms apply.
Santander All In One Credit Card
75%0.5%£36£26£2629.8% Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 23.9% (variable), representative 29.8% APR (variable). Credit available subject to status. Terms apply.

Table notes:  table correct as of 29 February 2024. The average provider customer score is 69%. Find out more about how we pick products to be Best Buys and judge brands to be Recommended Providers. (a) Available to Santander current account holders. Cashback is capped at £15 a month. The rate falls to 1% after 12 months. (b) You earn 0.75% cashback on spending up to £10,000 and 1.25% cashback on spending over £10,000 within a year. You earn 5% cashback for the first three months (up to £125 cashback). (c) You earn 0.5% cashback on spending up to £10,000 and 1% cashback on spending over £10,000 within a year. You earn 5% cashback for the first five months (up to £125 cashback). Offer ends 9 April. (d)  You earn 0.5% cashback on spending up to and including £15,000 and 1% cashback on spending over £15,000 within a year.

Both the American Express Platinum Cashback Credit Card and the free version - the American Express Platinum Everyday Cashback Credit Card - offer the highest rate of cashback on the market, and have attractive introductory offers. 

Currently, the fee-free American Express Platinum Everyday Cashback Credit Card comes with 5% cashback for up to five months, instead of three. Cashback is capped at £125 during the introductory period, rather than £100. Offer ends 9 April. 

Customers also rate the brand highly. American Express has been named a Which? Recommended Provider, coming 2nd out of 31 providers in our latest survey.

Best supermarket reward credit card deals

Below we've set out the best reward credit cards that are linked to supermarkets and have done some analysis on how much you could earn by spending £100 every week.

We've analysed the top cards on the market to work out how much you would earn if you spent £100 a week over the course of a year at a participating retailer (if specified). We then converted the rewards into monetary value to see how much you could earn.

Please note that the information in this article is for information purposes only and does not constitute advice. Please refer to the particular terms & conditions of a credit card provider before committing to any financial products.

RECOMMENDED PROVIDER
American Express Nectar Credit Card
79%3 points per £1a2 points per £1£0b£77.50£77.5037.8% Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 31% (variable), representative 37.8% APR (variable). Credit available subject to status. Terms apply.
John Lewis Partnership Credit Card
71%5 points per £41 point per £4£0£65£6527.9% Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 27.9% (variable), representative 27.9% APR (variable). Credit available subject to status. Terms apply.
RECOMMENDED PROVIDER
Tesco Bank Low APR Credit Card
80%5 points per £41 point per £8£0£65£6510.9% Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 10.9% (variable), representative 10.9% APR (variable). Credit available subject to status. Terms apply.
Asda Money Credit Card
62%1%0.30%£0£52£139c25.9% Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 25.9% (variable), representative 25.9% APR (variable). Credit available subject to status. Terms apply.
M&S Bank Shopping Plus Credit Card
78%1 point per £11 point per £5£0£52£77d23.9% Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 23.9% (variable), representative 23.9% APR (variable). Credit available subject to status. Terms apply.
Sainsbury's Everyday Credit Card
75%3 points per £21 point per £5£0£37.50£37.5029.4% Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 29.4% (variable), representative 29.4% APR (variable). Credit available subject to status. Terms apply.

Table notes: table correct as of 29 February 2024The average provider customer score is 69%. Find out more about how we analyse brands to award Recommended Providers. (a) 20,000 Nectar points when you spend £2,000 in your first three months offer is not factored into this analysis as we are only spending £100 a week (b) £30 annual fee after the first year (c) Earn 10% cashback when you spend at Asda for your first 90 days, up to a maximum of £100 Asda Pounds. Offer ends 11 March 2024 (d) Earn a M&S £25 gift card when spending a minimum of £250 across 5 or more qualifying purchases within the first 90 days

You can consistently earn the most with the American Express Nectar credit card, but it's worth noting there is a £30 annual fee after the first year, and you must scan your Nectar card when paying for maximum points.

However, when we consider introductory offers, you can earn significantly more with the Asda Money Credit Card. 

At the moment American Express Nectar is offering 20,000 Nectar points if you spend £2,000 on the card in the first three months. But as this didn't match our spending scenario we have not included the analysis of the yearly earnings including offers.

Cashback and reward credit card provider reviews

As well as finding a cashback or reward credit card which is the most rewarding for you based on your spending habits you should also consider the quality of a provider's customer service. But that's pretty hard to do unless you've been a customer before.

Fortunately, Which? has rated 31 of the most popular credit card providers based on real-life experiences to help you find out what they're like for customer service, mobile banking and more before you sign up.

You can take a look at our full analysis in our guide to the best credit card providers.

How do cashback and reward credit cards work?

Cashback credit cards pay a rate of cashback that determines how much you can earn each time you spend. So, for example, a cashback rate of 5% means you would earn £5 on a £100 spend.

Every time you pay with your cashback credit card, you earn a percentage of what you spent on the purchase. This is usually either paid as a credit on your bill, or paid into a nominated account.

Reward credit cards are similar but pay you in points that can normally be converted into vouchers to spend with a particular retailer.

Some deals come with introductory rates that may be capped and followed by an ongoing rate, while others pay a flat unlimited rate for as long as you have the card.

The trick with a cashback or reward credit card is to use it as a debit card and load all of your everyday spending onto it to rack up the benefits. However, you should make sure you can pay off the balance in full every month, otherwise, the interest you're charged will quickly outweigh any rewards you earn.

Many reward and cashback cards also come with an annual fee; you'll need to factor in whether or not paying this is worth it compared what you might make back.

How to use a cashback and reward credit card effectively

With a cashback or reward credit card, there are a few things to bear in mind to make sure you use them effectively. We've set out the golden rules below.

1. Avoid borrowing

Cashback and reward credit cards are a rewarding tool if you only use them to spend money you actually have like you would with a debit card.

They're generally not very good for borrowing, with few cards offering competitive 0% deals.

If you're already paying interest on credit card debt, it's worth considering a 0% balance transfer card, or if you want to spread the cost of a new purchase try an interest-free purchase card.

2. Pay off the balance in full every month

It's important to make sure you pay off the balance of your cashback credit card in full every month otherwise the interest could outweigh the rewards.

With this in mind, we recommend you set up a direct debit to clear your balance each month so you don't forget.

3. Maximise your rewards with everyday spending

To get the most out of your cashback or reward credit card you should try to use it as much as possible.

The best deals reward you every time you make a purchase, so it makes sense to use them instead of cash or debit cards whenever you can.

Cashback and reward credit cards FAQs

Have a cashback or reward credit card query? See if you can find the answer in our Q&A below.

 How we analyse credit cards

Sam Wilson, credit card expert

Sam Wilson, credit card market analyst, says: 'At Which? we put credit card products and providers under the microscope to help you save time when shopping around for a new deal.

'We run a survey each year to gather the experiences of customers to help us find the best providers and we keep a close eye on the credit card market to determine which deals are the best in their category.'

Here's some more information about our research and the terms we use in this guide.

Customer scores

Our provider customer scores are based on an online survey of 3,775 members of the public, conducted in October 2023. 

Provider customer scores are worked out using a combination of overall satisfaction and the likelihood of recommending the provider to a friend.

Which? Recommended Providers

We award Which? Recommended Providers to the lenders that meet our benchmarks on customer service and product offering.

To become a Which? Recommended Providers a lender must have:

  • a provider score of at least 75%;
  • at least one top-10 card in one of the seven main categories available on the market;
  • a product score that's average or above;
  • and not have a representative APR of more than 33% on any of its mainstream cards at the time of the analysis.

Which? Best Buys

A credit card product must have been one of the top five cards in its category and must also satisfy specific criteria for the type of card such as the size of the balance transfer fee or length of 0% period to become a Best Buy.

A provider must have also achieved a provider customer score of over 65% in our latest credit card satisfaction survey.  

We also update our analysis regularly, which means we will withdraw Best Buys if providers make adverse changes to APRs, 0% periods or fees.

key information

Why should you trust Which? research?

We’re not influenced by third parties. We work entirely on behalf of you, the consumer – nobody else. See our statement of editorial independence for more.