Banks aren’t known for their generosity, but as the credit card market gets back on its feet, providers are offering a host of new reward cards that are well worth a look - as long as you pay off your balance in full every month.
If you’ve been with the same credit card provider for a couple of years, there’s a good chance you can get a better deal elsewhere. Opt for a card that rewards you with free flights, cash or shopping vouchers when it tots up your total spending at the end of the year. With Lloyds TSB’s Airmiles Duo credit card, for example, spending £386 a week would pay out 6,478 airmiles - enough for four return flights to Rome - at the end of the year.
Spending the same amount on American Express’s platinum cashback card would lead to a payout of £305, while the Barclaycard Platinum would offer £200-worth of shopping vouchers, according to research by confused.com. Play.com’s credit card would pay £202 in gift vouchers for use on the website. But remember these deals are only worthwhile if you clear your balance each month - otherwise, you’re better off applying for a card offering an interest-free overdraft.