What is cashback and how does it work?

What is cashback? 

Cashback is a credit card benefit that allows you to earn money back on things you buy with the relevant card.

It’s typically a percentage of a transaction that’s credited back to you as a loyalty reward. So you could look at it as getting a small rebate on your spending.

How does cashback work?

With relevant American Express® Cards you can earn cash rewards for your everyday spending. Every time you buy something with your Cashback Card, you’ll automatically receive a percentage of that value in your Account. This is then credited as a statement credit to your Account annually.

But what does cashback mean in practice? Say your card offers 1% cashback on all purchases. If you spend £3,000 on your card in a year, you could earn £30.

The actual percentage of cashback you receive depends on which Card you choose. You can also apply for a Supplementary Card for a relative or partner. 

The best news? There’s no annual limit on how much cashback you can earn with an American Express® Cashback Credit Card. 

What is a Cashback Credit Card?

Not to be confused with asking for cash back at the supermarket till, Cashback Credit Cards offer a simple, straightforward way to earn cash rewards for your everyday purchases – big and small.

Every time you make a purchase with your Cashback Credit Card, you will receive a percentage of that transaction back as a reward. The more purchases you make with your Card, the more cashback you can earn. This then accumulates in your Account and is paid to you as a statement credit every year, around the anniversary of Account opening.  

What are the benefits of cashback?

• Cash rewards – you earn a percentage of your transaction back every time you spend on your Card; it’s automatic and effortless
• No limit on cashback – with an Amex Cashback Card, there’s no cap to how much cashback you could earn in a year
• Exclusive offers – enjoy carefully selected offers from our range of retail and travel partners

Is a Cashback Card right for me?

To decide if a Cashback Card is right for you, first think carefully about your personal needs and spending habits.

If you regularly spend on a Credit Card, then a Cashback Card will reward you for those everyday purchases with no extra effort on your part.

That said, the rewards are only truly rewarding if you repay your balance in full at the end of each statement period. This way you don’t pay any interest, and the cashback you earn is a genuine bonus.

If you only make partial repayments each month, a Cashback Card may not be the best option. You’ll have to pay interest on your outstanding balance, and this is likely to be much more than any cashback you’ll earn.

Our Cashback Credit Cards

There’s no limit to the amount of cashback you could earn with an American Express Cashback Card. We also offer a welcome bonus for new Cashback Card customers, allowing you to enjoy extra rewards in your first few months.