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Cashback Cards – Earn up to £130 per Year

Research from Defaqto has revealed that consumers who spend over £500 per month on a credit card could be in line get earn up to £131 a year back in cashback.

The demand for cashback cards has increased, and this has led to double the amount available on the market now than that of two years ago. Consumer demand has been the driving force behind this increase, which now sees 22 cards available from different providers.

The report from Defaqto found that, of the 22 cards available, 13 would earn £100 or less a year for the consumer in cashback, when spending £1000 per month on the credit card. The report also found that some of the lower paying options are only offering 0.5pc.

The study also looked at how consumers rated cashback in terms of significance, and found that it was the third most important feature, after no annual fees, and long interest-free repayment periods.

Brian Dowd, the author of the report said: “Demand from consumers for cashback cards is strong, as these cards give a guaranteed benefit with no added effort, unlike points schemes where the customer has to build up value and then take further action to redeem the points”

However to earn the best rates consumers must choose wisely. Defaqto found that the best options currently available include Capital One’s Aspire World MasterCard, and Aspire Elite MasterCard, as well as American Expresses’ Platinum. The earnings on the latter could be up to £243 per year when £1000 per month is spent on the credit card.

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