Money Q&A: Rewards cards for Christmas

Q: What are the best reward credit cards to open before Christmas?

A: If you’re able to pay back your credit card in full every month, you could really earn yourself some great rewards this Christmas depending on what credit card you take out.

If it’s cash back you’re after, then the Capital One Aspire World Mastercard will give you 5% cash back on all your purchases for the first three months up to a maximum of £2,000. So if you spent £500 on Christmas presents and food, you would earn £25 cash back!

The Tesco Clubcard Credit Card not only offers 0% interest for 16 months, but also gives you one Clubcard point for every £4 spent on it, which can really add up, especially when exchanged for Clubcard Reward Vouchers.

Alternatively, if you open an Amazon Mastercard , you’ll be sent a £5 Amazon voucher, have 0% interest for the first 13 months and earn one point for every £1 spent on it; two points when the £1 is spent at Amazon; and three points for every £1 spent at Amazon in the first 90 days of having the card.

Once you’ve accrued 1,000 points (equivalent of spending £333.33 on Amazon in the first three months), you’ll be sent a £10 Amazon voucher.

With all these rewards, though, it’s important to remember to only spend what you can afford to pay off before any interest free periods end or the rewards won’t out-weigh the interest you’ll be charged.

Andrea Ventress, money expert

 

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