Best Cash Back Credit Cards of April 2024
Best Cash Back Credit Cards in Ireland
- AIB Platinum Visa Card – Best No Annual Fee
- Avant Money Reward+® Card – Best For Sign on and Purchases Cashback
- Revolut Credit Card – Best Cash Back Credit Card
Compare the Cash Back Credit Cards
| Credit Card | Rating | Fee | Our Pick For | Key Highlights |
|---|---|---|---|---|
|
5.0/5 |
€0 |
Best No Annual Fee |
|
|
|
4.6/5 |
€0 |
Best For Sign on and Purchases Cashback |
|
|
|
3.8/5 |
€0 |
Best for Cash Back |
|
Best Credit Card For No Annual Fee
AIB Platinum Visa Card
- Monthly Fee: €0
- Intro Offer: 3.83% variable on purchases and balance transfer for 12 months
- Interest Rate: 11.84% variable on all purchases
- APR: 17% variable
- Currency Conversion Fee (POS/ATM): 1.75% (Europe) and 2.75% (other region)
- Stamp Duty: €30 annually
- Balance Transfer: 3.83% variable for 12 months
- Additional Card Fee: €0
- Late Payment Fee: €7
- Cash Advance Fee: 1.5%
Currency
EUR
Multi currency
No
Segment
Premium
Scheme
Visa
Co-branded
No
Income Requirement
€40,000
Card Details
- Cash back of up to €225
- Visa Luxury Hotel Collection Package
- Up to 56 days free credit
- Instant cash withdrawal on any ATM.
- Secure Online Shopping
- Access your monthly credit card statement online
- View fees, charges and other information
What We Like
Pros
- Hotel and travel rewards (visaluxuryhotelcollection)
- Cash back reward
- No annual fees except statutory stamp duty
Cons
- High income earners
- Good credit score
available
Best Credit Card For Long Term Value
Avant Money Reward + Credit Card
- Monthly Fee: €0
- Intro Offer: €100 Cash back credited to your account. 25% interest refund every month.
- Interest Rate: 16.8% variable on all purchases
- APR: 22.9% variable
- Currency Conversion Fee (POS/ATM): 2.65%
- Stamp Duty: €30 annually
- Balance Transfer: Not applicable
- Money Transfer: Available but no offers
- Additional Card Fee: €0
- Late Payment Fee: €15.24
- Cash Advance Fee: 1.5%
Currency
EUR
Multi currency
No
Segment
Standard
Scheme
Mastercard
Co-branded
No
Income Requirement
Not stated
Credit Card Details
- Only credit card in ireland with up to 25% return on purchases
- Up to 3 additional cardholders fo free
- Up to 56 days free credit on purchases
- Enjoy advantages loyalty program on offers and discounts
- Enjoy advantages loyalty program offers and discounts
What We Like
Pros
- €100 credited to your account
- Up to 25% return on your purchases every month
- Advantages loyalty program
Cons
- May require a good or excellent credit score.
Best Credit Card For Cash Back
Revolut Flex Credit Card
- Monthly Fee: €0
- Intro Offer:0% on all purchases and balance transfers for 3 months
- Cash Back: 1% cashback on purchases for the first three months when you spend up to €3,000 (after that, the rate is 0.1%).
- Interest Rate: 13.34% variable on all purchases
- APR: 17.99% variable
- Currency Conversion Fee (POS/ATM): See terms and conditions
- Stamp Duty: €30 annually
- Balance Transfer: not specified
- Additional Card Fee: €0
- Late Payment Fee: €10
- Cash Advance Fee: 2%
Currency
EUR
Multi currency
No
Segment
Standard
Scheme
Mastercard
Co-branded
No
Income Requirement
Not stated
Credit Card Details
- Autopay Settlement and Budget Limits: The Revolut Supper app enables you to get notified about upcoming payments on your credit card account, or settle your balance automatically with Autopay. You are able to manage your spending and apply budget limits.
- Security features: Revolut provides a disposable virtual credit cards for one-off purchases as an extra protection. You can freeze and unfreeze your card any time in-app.
- Luxury and Shiny Card.
What We Like
Pros:
- 0% interest on purchases and balance transfers for 3 months from account opening
- 1% Cashback for up to 3 months when you spend up to €3,000 (after that, the rate is 0.1%).
- APR 17.99% with a variable interest of 13.34%
- No annual fee
- Credit limit up to €10,000
Cons:
- Complex fee structure
- No Additional Credit Card
- No loyalty and rewards program available
What You Need to About Cash Back Credit Cards?
Cash-back credit cards are the most common and preferable type of rewards when it comes to credit cards. It is because it offers direct cash as rewards. Consumers find cash back rewards attractive and useful because it is an available cash that you can spend anytime and anywhere.
The way it works is that you get a percentage of every amount you spend on your credit card as cash. For instance when you spend on groceries, or restaurants you might get cash back. A cash back credit card is like getting a discount on everything you purchase on your credit card and its mor rewarding when you keep using this and increasing your cash backs.
Assuming you get a Revolut credit card that gives 1% cash back and you spend €200 at a clothing store using your revolut credit card, you just earned €2 for free.
Pros and Cons of 0% Cash Back Credit Card
Pros:
- Earn cash as rewards when you spend. Cash back world like discount on purchases.
- No annual fees
- Great to build your credit when used responsibly
- For some cash back offers, if you meet the spending requirements you get sign on bonus.
Cons:
- There are other valuable rewards card besides cash back. for instance travel rewards.
- Some cash back rewards card have higher APR that can eat into the rewards if you carry balance each month.
- Most cash back credit cards offer fewer rewards
How to Compare and Choose a Cash Back Credit Card?
Before you decide to make a choice on credit cards, you need to consider the following factors:
Annual fee
Most credit cards in Ireland don’t have annual fees. Besides no one likes to pay an annual fee but when you have a no annual fee with rewards like cash back, it is very attractive. Be sure to check that the credit card you choose does not have an annual fee. On the other hand some credit cards come with annual fees because they have lucrative rewards attached to it, so you may want to work out if the fees charged are worth the rewards.
0% interest free period
If you are a credit card holders and you typically clear your balance each month, a cash back card with a 0% interest free period for purchases or balance transfers or both will be worth it. If you expect to carry an outstanding balance from month to moth, then it is better you look for a low interest credit card instead.
Sign-up bonus
Bonuses on cash back cards are not common. In Ireland we have only one of such, which is Avant Money Rewards+. This card will offer a cash sign up bonus if you spend €500 minimum within three months. These types of offer is essentially a free money offer and with no annual fee. But don’t ignore other cash-back cards that don’t offer a bonus but review other factors because sometimes a high rewards credit card like the Bank of Ireland platinum advantage card could be a better deal than a card with a cash back sign on bonus. It is all depending on your circumstances and how much you spend and where you spend it.
Ease of Redemption
What are the rules for getting your cash back? You should check on how flexibly and easy you receive the cash back after you spend. Be aware of the minimum spend before you can receive the cash back. Be aware of the how the cash back is credited to you. Most times it is directly credited as statement credit which can lower your next credit card bill.
Who Should Get a Cash Back Credit Card?
With rising prices and interest rates, every little helps and cash back credit cards can come in valuable to most people. These are some of the people that a cash back credit card can come in quite handy:
Large household families: Do you regularly shop for a large household? if yes then you have the best opportunity to maximize the value of a cash back credit card. Spending on a cash back credit card can be rewarding as you can benefit from cash backs from your regular shopping. Our choice for this group: AIB Platinum Credit Card
New credit card holders, Immigrants and Students: If you are new to credit cards, you are an immigrant looking to build your credit or you are a student, if you are approved a cash back credit card, earning cash rewards on a cash back credit card can help in building your credit or getting cash back on interest paid will be useful. Our choice for this group: Avant Money Reward+
Frequent spenders: Are you a frequent and savvy spender? a credit card that you can earn back cash while you spend will help you put more money back in your wallet. If you are a frequent spender , you may want to consider carrying a credit card that rewards you with a portion of your purchases. Our choice for this group: AIB Platinum Credit Card
Entertainment-lovers: Spending on dining, groceries, gym memberships, movie tickets and events, cash back credit card might come in useful for you and can earn back some cash when you entertain yourself. Our pick for you: Revolut Credit Card
Commuters: With train and bus tickets on the rise and including diesel and fuel prices, you could earn back a small portion of your spending on commuting as cash. Our pick for you: AIB Platinum Credit Card
Food lovers: If you like dining on fast foods, use bakeries and regularly eat out or use food delivery service orders like just-eat regularly. You can get some cash back on your purchases when you use a cash back credit card. Our pick for you: Revolut Credit Card
Credit Card News: Most of us confused about how our credit cards work
A survey conducted by iReach Insights confirmed that the public lack an understanding of how credit card interest works. Most people believe credit card companies in Ireland do not do enough to explain how interest rates work.
The survey found 65% do not know what interest rate they pay on their credit card balance. They have a poor understanding of how credit card interest is calculated, with a third of people under the mistaken impression they do not pay any interest for using a card.
One-fifth of respondents believe they pay less than 5% in interest, with more than half believing they are paying less than 10%. More than a third of respondents incorrectly stated they “don’t pay any interest” if they cover the minimum balance due at the end of each month.
Review Methodology
Coins to Asset reviews credit card across many the factors. We analysed popular 15 credit cards available in Ireland to come up with the best cards for you. We looked at fees, interest rates, rewards and cash backs including the ease of redeeming the rewards. We also considered the monetary value of the benefits and perks and the overall value add of the card to the cardholder. Part of our review includes ease of credit card application, the simple reward structure, attractiveness of the features, and whether the card suits everyday use or best reserved for specific purchases. We give star ratings serve as a general guide of our comparison but it is only a consideration when you are choosing a credit card not a rule. Learn how Coins to Asset Rates Credit Cards.
Frequently Asked Questions
Why do credit cards give cash back?
Credit card companies or issuers offer cash-back rewards to motivate and incentivize consumers to use their credit card regularly. When a credit card holder uses their cards regularly they are able to take a cut of the transaction fees charged to network companies. Other benefits includes convenience and the ability to easily build and maintain good credit history when you use it responsibly.
What is the best cash back credit card?
There’s no one best cash-back credit card, it all depends on your spending habits and preferences determine which card will hold the most reward potential for you.
How do cash back credit card work?
When you make an eligible purchase with a cash-back card, you’ll earn a percentage back on your spending. The exact amount depends on your particular card’s terms. Depending on your card, those earnings may accumulate in your card’s rewards account until you redeem them according to your issuer’s requirements. Some cards allow you to redeem your cash earnings in any amount at any time while others require a minimum balance to cash out.
The exact way you’ll receive your cash back also varies by card. Many cards provide cash-back earnings as a statement credit against your balance. Others may also offer cash back as a direct deposit or check.
- Most of us confused on how credit card works Independent.ie Accessed on 24 Nov 2023
Lynda Unogu MBA IMC (CFA UK) PMP
Lynda holds an MBA from University College Dublin and worked previously in product roles within financial services and technology firms like Mastercard, Citi Bank and JP Morgan. She constantly seeks to apply her expertise in financial services to the field of personal finance with the goal of helping people navigate the complexities of the finance.
Have you used cash back credit cards? we would like to hear from you.
