Best Reward Credit Cards
Reward credit cards can be a fantastic and easy way to earn hundreds of pounds worth of perks when you use them for your everyday spending. There are a lot of different varieties when it comes to reward credit cards on the market, so make sure you choose wisely to ensure you earn benefits that are valuable to you. You can get anything from free air miles to extra loyalty points to use at your favourite supermarket, so if you’re not a frequent flyer, the former probably isn’t for you. It is also worth stressing that reward cards are ideal for those who are confident that they can pay off the full amount every month to avoid paying interest, which can be higher compared to other credit cards. Generally speaking, you don’t get a 0% interest-free period, so it’s imperative that you pay back what you owe in full every month! Here are the best reward credit cards for different reward types!
Best Reward Credit Cards For Cashback Rewards
Amex Platinum Everyday
This is one of the best reward credit cards if you'll spend less than £10,000 a year – if you'll spend more, it's beaten by the Amex Platinum Cashback. It offers the highest cashback payer with no fee, giving up to 5% on your first £2,000 of spending in the first three months (max £100 cashback), then up to 1% after.
Note: You won't get the intro 5% rate if you've held a personal Amex card in the past two years.
2. Santander All In One Credit Card
A highly multi-functional credit card that should please a wide variety of users. The All in One card offers 26-month 0% periods on balance transfers and 20 months 0% on purchases. During the promotional period, there’s no balance transfer fee – a very nice benefit. There are also special cashback offers of up to 15% with Retailer Offers!
Best Reward Credit Cards For Flexible Rewards Schemes
Some credit card providers, such as American Express, offer points that can be converted into frequent flyer points, or allow you to use them at various retailers. Here are a few of the best reward credit cards for flexible reward schemes.
1. American Express Preferred Rewards Gold
You can get a huge 20,000 bonus points when you spend £3,000 in your first three months! These can be converted to air miles for a number of airlines or can be used to pay for goods or services. The annual fee is £140 (representative APR 56.6%), but this is waived for the first year so just be sure to cancel before the year is up!
Note: There is also a fee-free version of this particular card; the American Express Rewards Credit Card. It has 5,000 Membership Rewards points on offer if you spend £2,000 in the first three months of card ownership and has an APR of 22.2%.
2. American Express Nectar Credit Card
This credit Card (representative APR 27.3%) can help you build up Nectar points for virtually every £1 you spend! This increases to at least three points when you shop at Nectar partners. If you spend £2,000 in your first three months with the card and you’ll pocket a bonus of 20,000 Nectar points. It costs £25 a year, but American Express currently waives the fee for the first year.
Best Reward Credit Cards For Airline and Hotel Rewards
If you’re a frequent flyer, there are plenty of reward credit cards that will help you earn free flights, cabin upgrades and even hotel stays! Here are the best reward credit cards for airline and hotel rewards!
1. British Airways American Express
This fee-free credit Card (representative APR 22.2%) offers 5,000 bonus Avios points when you spend £1,000 within your first three months of owning the card. It also allows users to earn one Avios for every £1 they spend. When they spend £20,000 or more within a membership year, they get a complimentary companion voucher!
Note: While it has a higher earn rate (1.5 Avios per £1) and a higher bonus (25,000 Avios for £3,000 spent in three months), it also has an eye-watering fee of £195 per year, giving it a representative APR of 74.7%.
2. Virgin Atlantic Reward Mastercard
Earn 0.75 Virgin points for every £1 you spend and 1.5 points for every £1 spent with Virgin Atlantic or Virgin Holidays. Users also get a complimentary companion voucher or premium economy upgrade when they spend £20,000 or more within a year! You’ll also earn three points for every £1 spent with Virgin Atlantic or Virgin Holidays, but the card has an expensive £160 annual fee.
Best Reward Credit Cards For Supermarket and Shop Points
A lot of UK supermarkets and shops offer credit cards that allow users to collect points that can be exchanged for rewards, usually at the same place. It is important to keep in mind that a cashback card could be a better choice in terms of value in the long term. Here are the best reward credit cards for supermarket and shop points!
1. Sainsbury’s Bank Dual Offer Credit Card
You get to avoid interest on your spending for up to 20 months and get up to 20 months interest-free on balance transfers as well as Nectar points. You can collect up to three Nectar points for every £1 you spend on Sainsbury's shopping, Argos or Tu Clothing when you use your credit card and swipe your Nectar card. Plus, you’ll collect one Nectar point for every £5 spent elsewhere. On top of this, you get a bonus of 750 points every time you spend £35 or more on Sainsbury's shopping, up to 10 times in the first two months (7,500 in total).
2. John Lewis and Waitrose Partnership Card
Every 500 points earned is worth £5 in vouchers. You'll earn five points for every £4 spent in-store or online at John Lewis and Waitrose and one point for every £4 spent elsewhere. You’ll also get 0% on purchases for nine months, and 0% on balance transfers for 18 months (2.9% fee, min £5)
3. Tesco Bank Purchases Card
This credit card (representative APR 19.9%) gives you 0% interest on purchases for up to 18 months. You can also get five Clubcard points for every £4 spent in Tesco (or on Tesco fuel) and one Clubcard point for every £8 spent elsewhere.
