A cashback credit card earns you cashback when you make everyday purchases. In order to make the most of the cashback credit card you have to fully clear the balance each month, like a regular credit card, so as to avoid interest and fees that would make a cashback credit card more expensive than a normal credit card.

Before you apply you have to consider your options. Think about what you would use the card for and check out the offers in our personalised comparison chart to see what offers and incentives suit you and would make your use of a cashback credit card worthwhile.

Can I apply for a Cashback Credit Card?

Providing you have a good credit score, and are typically above the age of 18, you can apply for a cashback credit card. However, if you are below 21 you must provide evidence of income or assets to prove you can pay off the card. An applicant with a good credit score proves they can manage money efficiently, though some banks may also input an income threshold on the eligibility criteria.

What’s the catch?

Some banks offer cashback credit cards with strict terms and conditions, so make sure you have compared lots of different providers in our personalised product tables before choosing one. Often some providers specify what does and does not qualify for cashback, or what interest rates apply to which type of purchase, in their terms and conditions. So, make sure to do your research!

Luckily, the team here at SearchMyCredit have done much of the research for you! In our comparison chart, personalised based on your free credit score, you can see the information we have pulled from various providers’ terms and conditions, telling you the limits on the number of transactions to which cashback can apply in a month, or even in a year, and much more useful information.

Think long term

Most banks try to lure you in with introductory offers, such as high cashback rates which drop after you have spent a certain amount, or after a set amount of time. So be careful and think long term when looking at a cashback credit card in case there are also monthly or yearly fees applied.