Reward credit cards are an easy way to earn hundreds of pounds in bonuses, just for your normal spending. But while some offers look valuable, you might be paying through the nose in interest fees. Also, consider whether the rewards offered are worthwhile to you.
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Best Rewards Credit Cards February 2026
Our top five reward credit cards were selected focusing on ongoing reward value, intro bonuses or perks, fees and cashback caps, and real-world usability. Priority was given to cards that consistently deliver the highest net rewards when balances are repaid in full each month, rather than headline rates that are hard to achieve in practice.
- Lloyds Bank Lloyds Ultra Credit Card – Pays 1% cashback for the first year (then 0.25%), with no fees on overseas spending or ATM withdrawals if you repay in full each month. Strong all-rounder for everyday spending at home and abroad, with no cashback cap in year one.
- American Express Amex Platinum Cashback Everyday – Offers 5% cashback for the first five months (up to £125), then 0.5% on the first £10,000 spent and 1% above, with no annual fee. Best suited to higher spenders who can hit the annual spend threshold and clear the balance monthly.
- American Express Amex Preferred Rewards Gold – A perks-heavy option with a large introductory points bonus, one point per £1 spent, Deliveroo credits, and four airport lounge passes per year. Free in year one, then £195 annually, so it works best if you’ll actively use the benefits.
- American Express Amex Platinum Cashback – Charges an annual fee, but delivers stronger ongoing cashback rates than the fee-free Amex, making it better value for very high spenders who earn enough cashback to comfortably offset the fee.
- Santander Santander Edge Credit Card – Pays 1% cashback with a monthly fee and cashback cap, meaning it only makes sense if your spending is high enough to beat the fee. Useful for controlled, predictable monthly spend.
What are Rewards Credit Cards?
Rewards credit cards are credit cards that reward you for using them by giving you benefits, gifts and vouchers. For every pound you spend you get a reward that differs depending on the credit card.
Pros
- Earn value from everyday spending
- Access to travel and lifestyle perks
- Welcome bonuses boost early value
Cons
- Higher APRs than non-reward cards
- Annual fees can outweigh benefits
- Redemption rules can be restrictive
How do Rewards Credit Cards work?
Getting paid for spending money sounds too good to be true, but that is exactly what rewards credit cards promise.
Lenders offer points in returns for borrowers spending certain amounts in particular stores on or on specific items. For example, many of us are familiar with the Tesco Club Card. If you use a Tesco credit card you can earn even more points than you would by simply using the standard club card.
Reward credit cards are not limited to the supermarkets and retailers. Many High Street banks also offer cash bank and bonuses for using their cards, as do airlines and hotels.
What is the downside of using a Rewards Credit Card?
However, there is no such things as a free lunch and rewards credit cards come with several conditions.
First, they tend to have high APRs, and the more generous the reward programme the higher the APR. This means reward cards may only be suitable for those who can repay their balance at the end of every month.
Second, reward cards are typically designed to encourage you to spend in one place or to spend more. Borrowers need to be disciplined to avoid overspending or buying items they might not have needed or wanted without the reward incentives. For example, Amazon now offers a reward credit card which promises a £20 voucher on approval to spend at Amazon. Borrowers then receive 75 points per £100 spent at Amazon (150 points for Prime members) and 25 points per £100 spent elsewhere. This is positive for regular shoppers, particularly those making lots of smaller purchases who are not rewarded at present, but it could also encourage overspending online.
Third, you need to be aware of when you will receive your rewards. Some cards may pay out monthly, quarterly or annually.
How to choose the best Rewards Credit Card?
Good Money Guide has reviewed a range of reward cards on the market and listed our top ten. However, some of the major supermarket rewards cards have not made it onto the list. If you are a regular shopper at a store not listed here, it may be worth looking at their credit card ahead of some of these. The same is true if you have a bank account which offers a rewards credit card; it could make sense to investigate your bank’s reward card instead of ones from other lenders.
Additionally, if you are a regular traveller, it is worth looking at the rewards credit cards offered by hotels and airlines. For example, the Marriott Bonvoy reward card (Amex) offers 2 Bonvoy points for every £1 spent and 6 points for every £1 spent at Marriott, which can be exchanged for money off overnight stays. However, with an APR of 38.8% and annual fee of £75, this is probably for loyal guests only.
Similarly, the BA Premium card pays out 1.5 Avios points for every £1 spent in general, and three Avios for every £1 spent with BA. And borrowers can collect a 25,000 bonus if they spend £3000 in first three months. But with an eyewatering 74.7% APR, this is most likely only suitable for BA’s most frequent flyers.
Compare Different Types of Credit Card
Best Credit Cards
Everyday credit cards offer you the most flexibility for everyday use while having a reasonable interest rate, a balance transfer option and an initial interest-free period on purchases.
Balance Transfer Credit Cards
Astute credit card holders know they can shop around for a new card and transfer the balance from their old one, benefiting from a lower interest rate or even an interest-free period. Balance transfer credit cards are also a great way to consolidate debt from several cards to one.
Rewards Credit Cards
Reward credit cards are an easy way to earn hundreds of pounds in bonuses, just for your normal spending. But while some offers look valuable, you might be paying through the nose in interest fees. Also, consider whether the rewards offered are worthwhile to you.
Cash Back Credit Cards
You’ll be familiar with the cashback concept, where you earn rewards in the form of money or credit on your account when you spend. You must shop around as the “earn rate” varies, while some cards affiliated to a brand reward more for spending with that brand.
Travel Credit Cards
Don’t get hit by high fees when using your credit card abroad. Look for a credit card that offers no fees on foreign transactions and preferably some rewards as well.
Bad Credit Credit Cards
When you have a poor credit score, perhaps because of bankruptcy or some form of previous default, you can begin to rebuild your score using these cards. For those with credit problems here are our top ten bad credit credit cards.
Money Transfer Credit Cards
Using a credit card to pay off your expensive bank overdraft (or another loan) makes total sense when you can do so interest-free. Therefore, look for a card that has the longest 0% money transfer period and pay off as much as you can from the card quickly.
Air Miles Credit Cards
Bag yourself free travel simply by spending on your credit card. But select your card carefully as only some offer air miles, and some are more generous than others.
Purchase Credit Cards
If you use your credit card simply for purchases and are not concerned about balance transfers and other perks, you need to look at any interest-free purchase promotional period, followed by an ongoing generous low APR.