Earn cashback in bars and restaurants

If you’re planning to spend plenty of time in bars and restaurants over the coming months, Santander offers a new way to earn rewards.

In a bid to tempt more customers to take out its 123 Credit Card, Santander is giving borrowers the chance to earn 1% cashback in ‘all major’ bars and restaurants this summer.

This offer is on top of the existing cashback deal, which pays up to 3% depending on your spending habits.

Although there’s a £24 annual fee, it’s possible to avoid this charge if you also take out a particular current account with Santander.

So what’s happening this summer?

The first thing you might want to know is whether transactions in your favourite eating places and watering holes will be eligible for rewards.

While the family-run bistro at the end of your street might not qualify, the list of participating bars and restaurants is certainly extensive.

Among the more well-known are: All Bar One, Carluccio’s, Domino’s, Frankie and Benny’s, La Tasca, McDonald’s, Nando’s, Pizza Express, Pizza Hut, Starbucks, TGI Friday and Wagamama.

However, there are many others – for a more comprehensive list of where else you can earn cashback, check out the PDF on Santander’s website.

The additional cashback offer will run until 30 September 2012.

How else can you earn rewards?

The card also pays 1% cashback on supermarket spending, 2% in department stores and 3% at petrol stations.

As a potential downside, there is a £9 monthly limit on the amount of cashback you can earn on fuel spending.

Whenever you earn cashback, Santander will credit this amount to your next monthly statement.

How do I avoid the £24 fee?

If you take out a 123 Current Account in conjunction with your credit card, Santander will refund your fee for the first year.

This 123 Current Account offers up to 3% cashback if you pay household bills by direct debit and also pays up to 3% gross AER on the money in your account. However, it does come with a £2 monthly fee.

For more information on the 123 Current Account, read our review Earn money just by paying your bills.

Anything else I need to know?

Whenever you use a rewards credit card, it’s wise to ensure you can pay off the balance in full each month – and this offer is no exception.

If you leave a debt on this card, you’ll pay interest at a rate of 22.8% APR representative, which means these payments could soon wipe off the value of any cashback you earn.

What else is on offer?

The Capital One Aspire World Card pays 5% cashback for the first three months – up to £100. After the initial period has elapsed, you’ll earn up to 1.25% cashback.

With the American Express Platinum Cashback Credit Card, you can also earn 5% cashback in the first three months – up to £100.

Thereafter, you can earn 1.25% on your spending, which is doubled to 2.5% for one month of the year. Beware, however, this card comes with a £25 annual fee.

In a relatively new entry to the rewards card market, Asda has launched a card that pays 1% cashback on shopping in the supermarket and 0.5% on other spending.

Apply for the 123 Credit Card

Apply for the 123 Current Account

Compare rewards credit cards

**This material is for information purposes only and should not be considered financial advice. We strongly encourage our readers not to rely solely on this content, but to seek independent advice when making financial decisions.**

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