If you pay off your credit-card bill every month without fail, and you're a regular shopper at Sainsbury's, then you might be interested in a new cashback card now on offer from the supermarket chain. The Sainsbury's cashback credit card offers 5% cashback on spending in Sainsbury's stores for the first three months. It's capped at £50 per month (in other words, if you spend more than £1,000 a month at Sainsbury's, you won't get cashback on anything over that amount).
After the first three months, cardholders get £5 cashback per month as long as they spend at least £250 in Sainsbury's and at least £250 elsewhere. The card also offers six months 0% credit on purchases, and 15 months 0% on balance transfers, after an initial 3% transfer fee.
If you're not a regular at your local Sainsbury's, but you still want a cashback card, a better bet might be the AMEX Platinum Cashback card. This pays 5% on up to £2,000 of spending in the first three months, after which the rate falls to 1.25% (which beats the £5 for £500 of spending on offer from Sainsbury's).
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
However, there is an annual fee of £25. An alternative with no fee is the Capital One Aspire World, which also pays 5% in the first three months (capped at £100, so the same as AMEX), falling to 1.25%.
-
Barclays bank caps in-branch cash deposits for personal banking customersNews Barclays has placed a cap on how much you can pay into your bank with cash in a bid to fight financial crime - will you be affected?
-
State pension warning as families opting out of child benefit hits record highUp to one million parents could be losing out on £6,500 in retirement because they have opted out of receiving child benefit.
