If consumers act quickly, they could be in line to make a saving of up to £400 over Christmas and during the January Sales.

In a new deal, American Express is promoting 5% cashback over the first three months on a maximum spend of £4000. Spouses can apply for a card each, giving a joint maximum cashback of £400.

Those who take advantage of the offer will have to wait for their cashback - the savings are credited to accounts one year after they are opened.

Those planning to spend less than £1800 in the next three months, or those who will be spending mostly on groceries and petrol, may be better off with a different card - the 3% cashback deal available from Abbey. This gives up to £75 cashback (at a maximum of £12.50 a month over 6 months). The only spending to qualify is that made at the big supermarkets and at petrol stations. And for those living in the capital, Onepulse from Barclays offers 5% cashback on London transport costs, but only 0.5% on other spending.

There is a catch to these deals, however. The customers who do not pay off their balances in full each month would most likely find that the interest charged would more than cancel out any cashback earned.

This entry was posted on Tuesday, November 25th, 2008 at 12:47 am and is filed under New Offers and Features. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.