How does the TSB cashback credit card compare?Cardholders can earn up to £60 cashback a year

08 June 2016

TSB branch

TSB Classic Plus current account customers can earn 5% AER on balances up to £2,000

TSB has launched a new cashback credit card deal, available exclusively to its Classic Plus current account customers. 

Cardholders can earn 1% cashback on up to £500 of credit card spending every month.

The deal lasts until 20 September 2017 and is available on TSB's Platinum, Advance, Classic or Student credit cards. 

TSB Classic Plus customers can also earn 5% AER on current account balances up to £2,000 and 1% cashback on up to £500 of contactless debit card spending every month.

Here, we explore how this deal compares to the bonuses offered by other banks. 

If you're keen to find out more about any of these deals, we've included links to the Which? Money Compare cashback credit card tables, which contain more information. 

Cashback credit card deals compared

The opportunity to earn up to £60 cashback a year on credit card spending is a welcome bonus for TSB customers, but there are deals that allow cardholders to earn more.

The American Express Platinum Cashback Credit Card (APR 28.2%) currently tops our Which? Money Compare cashback credit card tables. The card offers 5% cashback on up to £2,500 of spending in the first three months, and up to 2.5% cashback thereafter depending on your overall annual spend. An annual fee of £25 applies. Click here to learn more about this card.

The American Express Platinum Cashback Everyday Credit Card (APR 22.9%) offers 5% cashback on up to £2,000 of spending in the first three months, and up to 1.5% cashback thereafter depending on your overall annual spend. Click here to learn more about the deal.

With cashback credit cards, it's important to pay off your balance in full every month, otherwise the interest charged is likely to outweigh any rewards earned. 

How does the TSB Classic Plus account compare?

The TSB Classic Plus account is one of many current accounts offering tempting interest rates on positive balances. 

Nationwide pays 5% AER on balances up to £2,500 for 12 months, falling to 1% AER thereafter. Nationwide current account holders are also able to apply for its Select Credit Card (APR 15.9%), which offers 0.5% cashback on all purchases. Click here to learn more about this card.

The Santander 123 current account pays tiered interest of up to 3% on balances up to £20,000, and up to 3% cashback on selected household bills. A £60 annual fee applies. The bank's 123 credit card (APR 18.4%) offers up to 3% cashback on certain purchases. The card has an annual fee of £36. Click here to learn more about this card.   

Most current accounts require customers to meet certain terms in order to pay in-credit interest. Always check whether you can meet these terms before switching.  

Find out more: Best bank accounts for customers who are always in credit - see our tables 

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