The best reward credit cards


Updated on 27 September 2017 | 3 Comments

M&S Bank has launched a credit which gives you double points on all M&S shopping for 12 months plus 2,500 points for signing up. Is it the right deal for you?

Spending on a credit card doesn’t have to involve getting into lots of debt. In fact, if you pay off your credit card bill in full each month, you can be rewarded for the purchases.

There are a range of credit cards that offer points, cashback or rewards such as hotel stays, flights and days out.

Here are the best reward credit cards to have in your wallet right now.

Supermarket and shop points

Some supermarkets and shops offer credit cards that allow you to build up points that can be exchanged for rewards. Here are some of our top picks.

M&S Rewards Plus Credit Card

The M&S Bank Reward Plus Credit Card gives customers double points to spend on M&S shopping.

This offer lasts for the first 12 months and points will be converted into M&S vouchers. Shoppers can get two points for every £1 spent in M&S and one point for every £1 spent elsewhere.

What's more, new customers will get 2,500 points when they sign up, worth £25. Existing customers will get 2,000 points, which is worth £20.

M&S Shopping Plus Credit Card

With the M&S Shopping Plus Offer Credit Card, you earn one M&S point for every £1 you spend in-store or for every £5 spent elsewhere. 100 points is worth £1 in M&S vouchers.

You get a bonus 500 points worth £5 to spend on food, clothing or home at M&S to get you started with your credit card.

The card offers 25 months of 0% interest on purchases and there’s also 0% on balance transfers for 25 months (2.9% fee).

The representative APR is 18.9%.

Sainsbury’s Bank Nectar Purchase Credit Card

If you shop at Sainsbury’s, you might like the Sainsbury’s Bank Purchase Credit Card.

Not only do you get to avoid interest on your spending for a market-leading 32 months, but you also earn Nectar points when you shop.

You earn two Nectar points for every £1 you spend in-store. You also get one point for every £5 spent elsewhere.

There’s also the chance to get 1,000 points each time you spend £35 or more on Sainsbury’s shopping in the first two months (up to 10,000 points). The offer applies until December 2017.

The representative APR is 18.9%.

Debenhams MasterCard

The Debenhams MasterCard allows you to earn three points for every £1 spent in Debenhams in store or online and one point for every £2 spent elsewhere.

To get you started you get 500 bonus points worth £5 on your first statement.

You can get 10% off online for a week from account opening, free standard delivery and 10% off in Debenhams café and restaurants when you pay with the card.

The card also offers 12 months 0% on balance transfers (2.99% fee). The representative APR on this card is 24.9%.

Cashback rewards

Some cards allow you to earn cashback as you spend. The rates tend to vary and some have a cap on how much you can build up. Some also attract an annual fee, that you should take into consideration.

Santander All in One Credit Card

The Santander All in One Credit Card offers 0.5% unlimited cashback on spending.

It also comes with 0% on balance transfers for 39 months (no fee), interest-free purchases for six months and no foreign transaction fee on purchases or cash withdrawals overseas.

The card attracts a £36 annual fee and the representative APR is 21.7%.

Asda Cashback Credit Card

The fee-free Asda Cashback Credit Card pays 1% cashback on your Asda shopping and fuel, and 0.5% cashback everywhere else. There’s also 10% cashback on selected Asda Money insurance products.

You can also enjoy 0% on purchases of £200 or more for six months at George.com, 12 months 0% on balance transfers (3% fee). There are also no fees when you buy foreign currency from Asda Travel Money.

The representative APR on this card is 19.9%.

Asda Cashback Plus Credit Card

Similar to its sister card, the Asda Cashback Plus Credit Card gives a higher 2% cashback on your Asda shopping and fuel along with 1% everywhere else.

You'll also get the 10% cashback offer on selected Asda Money insurance products, 0% interest for six months at George.com on purchases of £200 or more and no fees on foreign currency from Asda Travel Money. 

However, you'll get the 0% on balance transfers for 15 months.   

Airline and hotel reward cards

If you travel on a regular basis, there are plenty of reward credit cards that will help you to earn free flights (just paying fees and charges on top) cabin upgrades or hotel stays.

IHG Rewards Club Credit Card

The fee-free IHG Rewards Club Credit Card offers 10,000 IHG Rewards Club bonus points when you spend £200 within your first three months with the card.

At the same time, you can earn two points for every £1 you spend in the UK, two points at any of the IHG hotels (which includes Crowne Plaza and Holiday Inn hotels) in the UK and two points for every pound you spend abroad. 

The account gives you Gold Elite Status which means you benefit from 10% bonus points when you stay.

The card also offers 12 months 0% on balance transfers for a 3% fee. The representative APR is 18.9%.

IHG Rewards Club Premium Credit Card

If you’re willing to pay an annual fee £99 year there’s the IHG Rewards Club Premium Credit Card which offers double the rewards.

There are 20,000 bonus points when you spend £200 within the first three months and it allows you to earn four points for every £1 spent at IHG hotels and abroad or two points for every £1 spent elsewhere.

On top of this, you get Platinum Elite Status which entitles you to 50% extra bonus points, complimentary room upgrades, guaranteed room availability, priority check-in, extended check-out, no blackout dates on Reward Nights and a dedicated customer service line.

There’s also 12 months 0% on balance transfers (3% fee) that you can take advantage of. The representative APR on this deal is 41.5%.

British Airways American Express

The fee-free British Airways American Express Credit Card offers 5,000 bonus Avios points when you spend £1,000 within your first three months with the card.

It allows you to earn one Avios for every £1 you spend and when you spend £20,000 or more within an anniversary year you will get a complimentary companion voucher.

The representative APR is 22.9%.

For more of the top cards, check out the best air mile credit cards.

Other points schemes

There is a range of reward credit cards that offer the chance to collect other types of points not specific to one shop or supermarket to convert into your choice of days out, air miles, cashback and more. Here are some of the best.

American Express Nectar Credit Card

The American Express Nectar Credit Card can help you build up Nectar points.

You earn two Nectar points for every £1 you spend, which doubles to four points when you shop at Nectar partners. What’s more, spend £2,000 in your first three months with the card and you’ll pocket a bonus 20,000 Nectar points worth £100.

The card does cost £25 a year, though American Express is currently waiving the fee for the first year.

The representative APR on the card is 22.9%.

Barclaycard Freedom Rewards

The fee-free Barclaycard Freedom Rewards Visa offers points for your spending, which you can redeem with dozens of partners.

You earn two points for every £1 spent at supermarkets, petrol stations and Transport for London, and then one point for every £1 spent elsewhere. 

The card also offers 12 months 0% on purchases and balance transfers, with a 0.15% fee.

The representative APR on the card is 21.9%.

A final word of warning

Finally, remember, if you’re using a rewards credit card, always ensure you pay off your bill in full each month to avoid being hit with a hefty interest charge which will wipe out the rewards you’ve managed to build up.

For more take a look at: The best cashback credit cards

This is a classic loveMONEY article that is regularly updated

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