Best Rewards Credit Cards
The Best Rewards Credit Cards of October 2024
A rewards credit card can be a great financial tool to gain a perk from using your card and keeping on top of your finances. This only stays beneficial when you stay on top of payments and don't get behind, as you could face even higher late payment fees than a regular credit card.
Take a look at some of our picks for rewards credit cards and see the perks on offer.
Our pick for everyday spending
The HSBC Rewards Credit Card stands out as a great option for everyday purchases, offering flexible rewards across various spending categories.
Key Features;
- Up to 10 points per £1 spent at selected retailers. You can check the full list of eligible retailers through Mastercard Pay with Rewards.
- 1 point for every £5 spent on all other purchases, making it a simple and accessible way to accumulate rewards over time.
- Welcome Bonus: Earn 2,500 points (equivalent to £25) when you make your first transaction, giving you a great head start.
- Anniversary Bonus: Spend £10,000 or more within your first year, and you’ll receive an additional 2,500 anniversary points. This bonus can be earned annually for the first 5 years, as long as you meet the spending requirement each year.
Tip: If you plan to use this card for significant purchases, this extra incentive could be a useful way to boost your rewards over time.
Redeeming your points
- Retail Vouchers: Redeem your points for e-vouchers from popular retailers like M&S and Amazon, sent straight to your mail inbox. Perfect for everyday shopping or gifting.
- Airline Miles: Convert your points into miles with 11 airline partners, including British Airways, Emirates, and Qatar Airways. With such a broad selection, this card offers fantastic flexibility for frequent flyers.
Spending Benefits
- Earn 1 point per £1 on eligible spending in sterling.
- Earn 2 points per £1 spent in foreign currencies (though non-sterling transaction fees apply).
Tip: If you travel frequently or shop internationally, those extra points for foreign currency spending can add up quickly.
Widely Accepted Worldwide
HSBC credit cards operate on the Visa network, ensuring you can use them at millions of locations both in the UK and internationally. Whether you're shopping locally or abroad, the HSBC Rewards Credit Card provides a reliable and widely accepted payment method.
Consider an Upgrade
If you want even more benefits, consider upgrading to the HSBC Premier Rewards Credit Card, which offers enhanced rewards and travel perks.
This card not only helps you earn points on everyday purchases, but its flexible redemption options and annual bonuses make it an excellent tool for smart financial management, especially if you aim to maximise your rewards.
Our pick for travel enthusiasts
When getting the most out of your credit card, Virgin Atlantic stands out for travel rewards, great for frequent flyers. There is no annual fee, and the simple rewards structure allows you to accumulate Virgin points quickly. For travelers seeking flexibility, value, and broad acceptance, this card is an excellent choice for racking up travel rewards for holiday-goers who regularly book flights or holidays with Virgin.
Key Features:
- Annual Fee: £0 – Enjoy the perks of this card without worrying about annual costs.
- Earn Virgin Points on Everyday Purchases:
- 0.75 Virgin Points for every £1 spent on everyday purchases.
- 1.5 Virgin Points for every £1 spent directly with Virgin Atlantic or Virgin Holidays.
- Bookings with Virgin Atlantic or Virgin Holidays earn double miles.
Flexible Ways to Redeem Points:
With over 200 ways to use your Virgin Points, the options are vast. You can redeem points for:
- Flights and hotel stays
- Cinema tickets
- Unique experiences and everyday treats
Bonus Offer:
- 3,000 Bonus Points: Earn a 3,000-point bonus when you make your first purchase within 90 days of opening the card. This is a new offer for 2024!
Balance Transfer Offer:
0% Balance Transfer for 6 Months: Take advantage of 0% interest on balance transfers for six months (a 3.00% fee applies). After that, the rate is 26.9% p.a. (variable).
Widely Accepted Payment Option:
Unlike some other rewards cards, such as American Express, the Virgin Atlantic Rewards Credit Card is a Mastercard, making it widely accepted at a majority of retailers in the UK and globally.
Restrictions
The number of miles you earn per month is restricted to your credit limit. If you have a limit of £10,000 then you will only earn points on the first £10,000 of your monthly spending. However, Bonus miles from spending with Virgin Atlantic or Virgin Atlantic Holidays are not included in the cap so it is
Our pick for great travel rewards
The Barclaycard Avios is a fantastic option for travelers who want a no-fee credit card that helps them earn rewards. With this card, you can collect 1 Avios point for every £1 spent on eligible purchases, making it easy to build up points just by using the card for everyday expenses.
Key Features
- Comes with a free Apple subscription, adding extra value for tech lovers.
- Bonus points of 5000 when you spend £1000 in the first 3 months. Then, if you spend £20,000 or more a year you’ll earn a free cabin upgrade voucher.
You can spend your Avios points on flights, seat upgrades, hotels, car rentals, and more. Example redemptions include:
- 19,500 Avios + £1 for a peak economy return flight from London to Milan.
- 24,000 Avios + £9 for a peak economy return flight from London to Barcelona.
- 43,000 Avios + £33 for a peak Club Europe return flight to destinations like Venice, Lisbon, or Madrid.
Restrictions
Users should be aware that there’s a 2.99% foreign exchange fee when using the card abroad, so it might not be the best choice for frequent international travelers. The card also comes with a £1,200 credit limit, which may be a bit restrictive for some users.
Also, you won’t earn Avios on balance transfers, cash withdrawals, or refunded transactions. To maximise your rewards, always stick to your credit limit and follow the account terms.
We recommend this card because it offers easy point collection (1 point per £1 spent) and a generous bonus, making it better for earning rewards than other cards like the Virgin Atlantic credit card.
Our pick for high reward offers
The NatWest Reward Credit Card is an excellent option if you want to earn rewards quickly on everyday spending. It’s designed for shoppers who like to be rewarded for their purchases, whether it’s through cashback, vouchers, or even charitable donations.
Key Features
- Earn up to 15% in rewards: Take advantage of occasional personalised offers where you can get up to 15% back at selected retailers.
- Flexible redemption: Redeem your points as cash, e-vouchers, or donate them to charity.
- Reward rates:
1% back at supermarkets
1-15% back at selected retailers
0.25% back on all other purchases, including supermarket petrol stations
- Unlimited rewards: There’s no cap on the number of rewards you can earn, meaning you’ll continue to benefit from every pound spent.
You can easily track and redeem your points through the NatWest app, which also helps you manage your account and see where you can spend your rewards.
Fees and Restrictions
The card comes with an annual fee of £24, but if you already have a NatWest Reward current account, the fee is waived, giving you more value without extra cost.
Why We Recommend It
We chose this card for its high reward percentages, especially for supermarket shopping and selected retailers. The ability to earn rewards across various categories makes it a standout option for everyday use.
Cashback vs. Reward Credit Cards: What’s the Difference?
A cashback credit card gives you a percentage of your spending back in cash, which is usually credited to your account. This is great for those who want extra money going straight into their account, this helps with paying off any outstanding balances too.
A reward credit card, like this Natwest one offers more variety as instead of just cash, you can earn points for cash, vouchers or even airline miles. This gives you an option if you don’t want to choose just one. These cards often come with higher earning potential through special offers or retail partnerships, allowing you to get more than just cash back.
