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New Barclaycard 1% instant cashback rewards

Eight million Barclaycard customers could benefit

Barclaycard Freedom

Barclaycard today launches its new cashback rewards programme, Barclaycard Freedom, offering 8 million cardholders cashback of 1% in thousands of shops.

Unlike traditional cashback and reward schemes, there is no need to collect and save vouchers and no points to calculate – the rewards will be recorded on the card itself in pounds and pence.

Which retailers pay Barclaycard Freedom cashback rewards?

The scheme is open to businesses of all sizes. Big names that have been announced so far include Pizza Express, LA Fitness, YO! Sushi, Shell, Firebox.com, Goldsmiths and Nationwide Autocentres. Cardholders can search for participating retailers online at www.barclaycardfreedom.co.uk, or they can text ‘Freedom’ to 67777 to access and list of retailers and offers whilst on the move. 

Shops that are taking part will be clearly visible, with materials promoting the scheme in store. Cardholders can view their Reward Money account by logging onto their Barclaycard account online. This will display their current Reward Money balance, list transactions where Reward Money has been earned or redeemed, and display relevant offers.

To compare the new scheme with the best cashback credit card deals on the market, check out Which? Best Rate cashback credit card reviews.

How the Barclaycard Freedom reward scheme will work

Using chip and Pin technology, Barclaycard cardholders will automatically earn rewards, called ‘Reward Money’, when they use their Barclaycard at a participating retailer. Cashback will be 1% on most transactions (0.5% at Shell) and the company plans regular special promotions and giveaways.

Pizza Express, for example, will pay £5 in Reward Money to customers who spend £30 or more on their Barclaycard before 15 May.

After a transaction takes place, the cardholder will usually see their new Reward Money balance on the card machine. The next time they use their card in a participating retailer, they will see the value of their Reward Money balance appear on the card machine before they enter their Pin to pay. They can then choose to put some or all of their Reward Money towards that transaction or can continue to save up for a future purchase at another retailer within the scheme.

Around 30,000 retailers taking part in cashback scheme

Launching the new cashback scheme, Sarah Newman, managing director of Barclaycard Freedom said: ‘We are delighted to welcome Shell to Barclaycard Freedom. The range of retailers in Barclaycard Freedom means that our customers can earn Reward Money when they are shopping on the high street, filling up the car, going out for a meal or shopping online. 

‘The simplicity of Barclaycard Freedom means that customers earn Reward Money without the need to do anything extra – they simply use their Barclaycard to make a purchase. Reward Money can then be redeemed on purchases in most retailers and with around 30,000 retail outlets participating from today, the options to redeem are endless.’

Time to switch cashback credit card?

Martyn Saville, Which? credit card expert, commented: ‘The simplicity of the new cashback scheme is refreshing – earn cashback on your spending and have the option of redeeming it on your next purchase from a participating retailer. The 1% cashback rate is also towards the top of the cashback credit card market.

‘However, it is disappointing that the scheme does not boast a longer list of major retailers at launch. With a large proportion of the average family’s weekly spend currently made in the big four supermarkets, the absence of these retailers from the Reward Money scheme is a drawback, although it is unsurprising given that most major supermarkets will be unwilling to see their own credit card reward schemes cannibalised by the new Barclaycard one.

‘Consumers who pay off their credit card bill in full every month should consider carrying two different cashback cards: a Barclaycard for shopping with retailers who participate in the Reward Money scheme, and another leading cashback credit card for all other purchases.’

Get the best credit card for your needs

If you need advice to help you choose the best credit card for your needs, read the free Which? guide to choosing a credit card.

Once you know the best type of card for you, check out Which? Best Rate credit cards to find the most competitive deal available today, whether it’s a cashback card, a card offering 0% on purchases or the longest 0% deal on balance transfers.

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