What is credit card cashback and rewards?
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In short: Perks paying a percentage of spending back as cashback, points or miles — worthwhile only if you pay the statement balance in full every month. Carrying debt at 20%+ APR wipes out rewards within weeks.
Last reviewed:
Reviewed by Kaiser Khan
Annual fees on premium rewards cards need high spend to break even.
Rewards on foreign spending may incur FX fees unless the card waives them.
See compare credit cards guide.
Primary source: fca.org.uk/consumers/credit-cards
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