Get Cash Back from Credit Cards

The Abbey Visa Cashback Card offers customers 5% cashback but only on supermarket shopping purchases. This means all purchases, apart from petrol, at Sainsbury's, Tesco, Asda, Morrisons, Waitrose, Somerfield and Co-op stores should qualify; but as Marks & Spencer isn't classed as a supermarket, it doesn't.

If you earn under £20,000 then the best cards for you are Capital One's Bonus Cashback card and the Egg Money card (not the standard Egg card). They both pay a straight forward 1% cashback on everything you buy, though with Egg the pay-out is capped at £200 annually. This means you'd have to spend over £20,000 before this would become an issue, something that you probably shouldn't do if considering you earn less than that!

Points of Note

Furthermore, never balance transfer on a cashback card. It's no coincidence that many cashback cards have top balance transfer offers. These cards want to tempt you to both spend on the card and shift debts to them. This is because your monthly repayments are automatically allocated to repay cheap balance transfer debts first, leaving the much higher interest from spending debts expensively trapped until all the cheap debt's repaid.

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