5% CASHBACK on everything? Best UK Cashback Credit Cards 2023

We will look at the best cashback credit cards offered in the UK and run a comparison to figure out which one might be the best for you, depending on how much you spend.
Timecodes:
0:00 - Intro
0:30 - Non-Amex cards
01:57 - Amex cards
04:12 - Comparison
07:05 - Which would I get?
#creditcards #americanexpress #barclays #chase #santander

[@adamingleton8529]

Before Chase introduced the £15 cap, I earnt £40 in one month from a £4k spend.

[@LoyaltyLlama]

That's pretty cool for one month!

[@rsberry21]

As an American that stumbled across this video... I am shocked at the lack of available cashback/ points cards.

[@LoyaltyLlama]

I'm with you on this :) Credit cards are generally much less popular in the UK than in the US. And there are caps on how much merchants can be charged for transactions, limiting the profits for card issuers (though this is EU regulation which doesn't apply after Brexit, iiuc)

[@joshdawson5850]

Most Brits don’t use them. We are a lazy people.

[@Zero-Investing]

Great video

[@LoyaltyLlama]

Thanks!

[@frankiepang6912]

For Chase, you have unlimited cashback in first 12 months and such is capped at 15 pounds per month after that. So the actual result might be different.

[@LoyaltyLlama]

The unlimited cashback offer was only available to those who applied before May 9, 2023. They get unlimited for a year, then up to £15 / month for another year. All new customers from May 9, 2023 just get up to £15 / month for a year, which I described in the video. That's my understanding of the terms here: www.chase.co.uk/gb/en/legal/Cashback-FAQs/

[@drewleith]

Hi there. I find your videos very helpful. I have Amex Gold and Amex Platinum Cashback (paid version) I tend to use the Platinum as my primary card as I get 1.25% (because I spend more than £10k). You seem to recommend the gold Amex but I'm not sure I understand your logic. Can you help me understand please.

[@LoyaltyLlama]

Hi! I don't really recommend one over the other. That might have been my personal preference, i.e. I prefer the Gold card over the cashback one because I value membership rewards highly (at more than 1p per point).

[@urbanframes4676]

I got the Platinum Cash Back card (new member, so still have the 5%). I'm about to go abroad, wondering if I should use this card. Even those there's the 2.99% conversion fee?

[@LoyaltyLlama]

Only if without it you won't spend enough to collect the full £100 of higher rate cashback in your first 3 months. Having to pay the foreign transaction fee effectively reduces the cashback rate to 2%. It only makes sense to take that hit if you won't use the card enough domestically in the first 3 months.

[@LimaaVloger]

Does that work in Ireland?🇮🇪

[@natakijean-baptiste1746]

Can you do a video on credit ladder ? Please

[@LoyaltyLlama]

Hey! What do you mean exactly?

[@ellerellerek52]

Can any of those cards be used contactless? I'm after Amex

[@LoyaltyLlama]

All of these support contactless. However, Barclaycard you won't be able to add them to Apple / Google Pay to pay from your phone.