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 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 […] have done much of the research for you! In our comparison chart 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.