Cashback Cards - 20th Sept 2001

Cashback cards are particularly popular and useful to people who can pay off their card bill in full each month. So if you're looking for a cashback credit card Money Box has researched a selection of the offers currently available. It is important to note that the cards may offer other incentives, such as reward schemes and better interest rates than their competitors, which are more valuable if you do not pay off in full each month. You should also check penalties, length of interest free period, annual fee etc before making any decisions. A further source of information and comparison can be found at www.moneyfacts.co.uk but always check for yourself that the offers, terms and conditions are up-to-date.

Egg Visa Card. Offers 0.5% cashback on purchases from 11th October 2001, reduced from a previous 1%. Cashback paid as a rebate on your credit card account in September each year. Egg standard interest rate changed from 11.9 to 12.9 per cent from 1st August but is still better than many others. A customer rewards scheme is being introduced.

Amex Blue Card. 1 per cent cash back on all purchases with, they say, no plans to reduce the cashback level at present. There is an annual fee of �12 and you can only use the card at American Express's affiliated traders, it is not a Visa or Mastercard. Cashback is paid as an annual rebate on the anniversary of your taking out the card.

Capital One Circle Rebate Card - MasterCard only but offering 1% Cashback. Capital One say they currently have no plans to change their card offer. Provided that you have been accepted for an Account you will be enrolled in the Capital One Cash Rebate Programme. You will receive a cash rebate of 1% on all purchases you make using your Card. The first rebate will be payable in January 2002 and thereafter on an annual basis, paid as a rebate into your card account. Note: You will be in default under this agreement if you do not pay the minimum payment on time, Capital One have an �18 late payment penalty charge.

Halifax Classic Cashback card offers 1 per cent cash back to existing customers 'for the time being'. Any new customers taking out the card will only get 0.5 % cashback from now on - up to a spend of �1,000 but it increases to 1 per cent after that up to a maximum spend of �24,000 per annum. It can be either a Visa or Mastercard and can be applied for at Halifax branches. There is no fee and cashback is paid as a credit on your card account each year on the anniversary of your taking it out. Like Egg, customers can set up a direct debit to ensure their balance is paid off in full each month.

Alliance and Leicester Moneyback card (either Mastercard or Visa) pays 0.5 % back on spend up to �4,000 and 1 per cent after that up to a maximum spend of �20,000. No fee. Cashback paid in the form of a cheque each January.