Money Back Credit Cards - If you tend to pay your credit card bill off in full each month, you should benefit by using a cashback credit card. These cards give you back a small percentage of your spending as 'cash' which is usually 0.5% to 2% of the amount you spend. The money is paid to you annually in the form of a cheque or as credit on your account. In effect you are earning free money from card issuers!

Consumers in the UK are increasingly use credit cards to pay for day to day purchases such as groceries, petrol and bills, with many card users paying off their bills in full each month. If you're spending £500 a month on a 1% card, you can earn around £60 a year with cash back credit card.

American Express and Morgan Stanley offer competitive rates of cashback for spending on their cards. Visit this website to review the latest offers.

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