MT Week - Should you go for a reward or a cashback credit card?

I’m a big fan of credit cards that reward you for spending.

Personally, I’ve had a cashback credit card since I was at university, but I’ve dabbled in other types of reward credit cards over the years as well.

I use mine to pay for everything that could possibly go on a credit card without penalty, including for a while my rent. And on average, I get something in the region of £60 a year in cashback.

But it works for me because I always spend within my means and I pay the full balance off every month via direct debit.

And that’s the important thing to remember: you should always use credit cards responsibly.

Even though using a credit card is virtually frictionless, it is a form of borrowing. So if you miss a payment because you’ve overstretched yourself, the interest payments you would have to meet would far outweigh any benefits you might gain from a credit card.

Assuming you know and understand all of that, and you think a credit card offering rewards is a good option for you, let’s div…