Savvy shoppers will no doubt be looking to make the most of their hard-earned cash at this time of year, and they could attempt to earn some much-needed cashback each time they spend. However, with just five weeks to go until Christmas, there isn’t much time left to work out which are the good deals and which are the bad.

The latest research from Moneyfacts.co.uk compares some of the best deals around and could help shoppers make the most of rewarding credit cards and current accounts throughout the festive season.

Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“Over the years, rewards have become far less rewarding, showing that loyalty doesn’t pay. Indeed, it’s becoming increasingly more difficult for shoppers to get something for nothing, but customers can still earn a little back over the festive season by exploring cards and current accounts.

“Barclays is trebling the rewards and cashback that shoppers can earn for a limited time if they switch this month, American Express is still offering a credit card that pays 5% cashback for the first three months, and Halifax is still offering a £100 switching incentive, plus a £5 monthly reward and up to 15% cashback. Shoppers can also get £220 in gift cards from M&S Bank if they switch and stay for twelve months.

“Good things don’t last forever though; already we have seen Santander withdraw its 123 Credit Card from sale and in February next year it will cap the cashback on offer to existing customers, so the most they will be able to earn in one month once the £3 monthly fee has been deducted is £6. TSB will pay shoppers 5% cashback when they spend £100, but only until the end of this year, and Halifax will drop its £5 payment on the Reward Current account to £3 in February, so time is running out to take advantage.

“It’s clear to see that shoppers must measure up what’s on offer to find the best deal, but in the meantime they could exchange card points for vouchers or use cashback sites to earn a little back this year.”

www.moneyfacts.co.uk - The Money Search Engine

Moneyfacts.co.uk is the UK's leading independent provider of personal finance information. For the last 20 years, Moneyfacts' information has been the key driver behind many personal finance decisions, from the Treasury to the high street.

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