CREDIT CARDS
Santander to launch new 123 Cashback Credit Card
From 5th September Santander will launch its new 123 Cashback Credit Card, which will offer customers cashback on their everyday spending. The bank claims that it is the first card of its type to offer these cashback amounts on a monthly basis.
The main characteristic of the Santander 123 Cashback Credit Card is that users will be rewarded with monthly cashback on everyday spend. Specifically, the card will offer 1% cashback on supermarket spend; 2% on department store spend; 3% on fuel spend and an expected average yearly cashback amount of £176, says Santander.
Furthermore, it also will gives cash back to clients for their everyday shopping, which is something that many British families would love considering the current inflation and market prices.
For those paying with 123 Cashback Credit Card, supermarket spending will generate 1% reward, department store spending 2% and fuel spend (capped at £9.00 per month) up to 3%.
More cards reward loyalty
With these features, Santander aims to reward customers' loyalty and make them use the card as much as possible. However, it is not the first bank in doing so with the credit cards they offer.
Only a couple of days ago, American Express launched its New Platinum Cashback Credit Card, which also aims to reward the long-term loyalty of customers.
The more often costumers use the new Platinum Cashback Credit Card, the more benefits they will be able to enjoy. Offering a flat rate of 1.25% cashback on all purchases and a 2.5% introductory cashback rate for the first three months will certainly put a smile on the face of existing customers.
Differing from other credit cards, the Platinum Cashback has an ongoing flat rate of 1.25% on all purchases with no maximum limit to the amount of cashback that can be earned. It also has an introductory cashback rate of 2.5% for the first three months, up to a maximum of £100 cashback.
Tags: AMerican express credit cards, cashback credit cards, CREDIT CARDS, Santander credit card