What is a rewards credit card?

Most of us like getting something for nothing, so wouldn’t it be good if you could get exactly that? Well, with a rewards credit card – you can – from high street vouchers to air miles and even charitable donations; you’ll get a little something back when you spend on them. Interested?

How do they work?

It depends on the card, different card issuers will offer different rewards. For example, high street stores and supermarkets might offer you rewards in the form of vouchers or bonus points that you can redeem.

In most cases, you’ll get more points for shopping in the stores connected to the card. For example a card might give you loyalty points for every £1 you spend at a supermarket (food or fuel) and one point for every £5 spent elsewhere.

Other cards will give you back a percentage of what you spend – there may or may not be a limit on what you get back so always read the small print so you know what you’re getting. These cards might also have an annual fee, although some issuers will waive this if you hold a bank account with them.

Whichever reward card you choose, the premise is the same for all of them – if you spend then you get something back.

What are the best credit card rewards?

Well, it all depends on you. If you love to travel, getting a card that gives you air miles every time you use it may be best – they build up surprisingly quickly. Or, if you’re on the road a lot, then a card that offers generous rewards for the money you spend on fuel might make those miles worthwhile. Likewise, if you always shop at one particular retailer (and normally use a credit card to do it) it may well be worth getting their card to collect some of the treats on offer.

If you also know that you’ve got some larger purchases coming up like a car service or new boiler, then look for cards that also give you 0% interest on new purchases as well as rewards.

How can I compare reward credit cards?

With so many different reward cards on offer, it can be hard to choose between them. Which is why we’re here to help, just tell us what type of reward you’re after and we’ll do the searching and filtering for you. In just a few clicks, you’ll be able to see a range of reward credit cards side-by-side, helping you to find your perfect match. However, as with all credit cards, you have to use them wisely – always pay the balance off on time, each month because if you can’t, then you’ll probably find the interest payments swallow up any rewards or freebies on offer.

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