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. According to Money Saving Expert, the top “close to cashback” deals (non-cash) are:
- Amex Preferred Rewards Gold offers 20,000 rewards points if you spend £2,000 in the first three months, which equates to £100 in high street vouchers or frequent flyer points. Plus, you get two free airport VIP lounge visits. But pay off your balance each month to avoid interest.
- Amex Rewards is best if you don’t spend as much. Spend £1,000 in the first three months for half the bonuses you get for the Preferred Rewards Gold card.
- Sainsbury’s Nectar Dual is regarded as the best credit card for supermarket shopping – so long as you like Sainsbury’s. Give your Nectar card number on the application and get 750 bonus Nectar points worth £3.75 every time you spend £35 or more instore or online.