Tandem Cashback Credit Card

By: Kate Anderson | Updated: 8th January, 2019.

It’s rare to find a card that offers rewards but doesn’t charge you for the privilege. The Tandem Cashback Credit Card is that rare gem that offers 0.5% cashback on all purchases over £1 worldwide and does not carry an annual fee. If you are looking to earn a bit of extra money from your credit card spending, then read on.

Great for: Everyday cash back
4 stars question mark

With a 0.5% cashback yield and no annual fee, the Tandem Cashback Credit Card is a solid choice for those looking for cash rewards on their spending. The card lacks the sign-up bonus that some other cards have, but for those with good credit, the card sports a representative APR at the lower end of the range for the category. And there's no annual fee to worry about.

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CREDIT RATING req:

  • Poor/No credit
  • Fair/Average
  • Good/Excellent

HIGHLIGHTS

  • 0.5% cash back on all purchased above £1 worldwide
  • No annual fee
  • No fees on purchases made abroad

REPRESENTATIVE EXAMPLE

Annual purchase rate (variable) 18.9%
Representative APR (variable) 18.9%
Based on an assumed credit limit of £1,200

You may be offered a different credit limit or APR to that shown here as it depends on your individual circumstances. Subject to eligibility and credit assessment.

what we like

  • 0.5% cash back on all purchased above £1 worldwide
  • No annual fee
  • No fees on purchases made abroad
  • ANNUAL FEE:

    £0
  • REPRESENTATIVE APR:

    18.9%
  • INTRO OFFER:

    N/A

KEY SCORES:

  • 1/5 Perks
  • 5/5Fees
  • 5/5APR

BOTTOM LINE

The cashback reward on this card isn’t staggering but, considering the lack of products like this on the market, the card is a solid choice, offering a 0.5% cashback yield with no annual fee.

Credit Rating Requirement: Good/Excellent

What I like about the Tandem Cashback Credit Card

The Tandem Cashback Credit Card rewards you every time you spend over £1, meaning you don’t have to spend much in order to qualify for rewards, unlike with some other cards. Also, you are not penalised for using your card abroad, making it stand out from its competitors.

  • Cashback offer – This is the main selling point of the card. It offers 0.5% cashback on all purchases over £1 at home and abroad. This means if you make a purchase of £10, you will earn 5p in cashback. The card provider will add up all cashback earned for the statement month, with each cashback transaction rounded up to the nearest penny, and credit your account on your statement date for that month. It is worth noting that cashback payments can only be used to reduce your balance and will not be paid out in cash or a cash equivalent. The rewards, therefore, aren’t instantaneous but they are definitely there. Similarly, cashback will not be paid on items that have been cancelled or returned. If you have already been paid cashback for the item, then it will need to be refunded.
  • Foreign usage – Another big selling point for this card is that it charges no fees for foreign usage. Cards usually charge around 3% for overseas usage, which means that users often need to avoid getting their card out aboard. However, the Tandem Cashback card offers the double combination of 0% on non-sterling transactions and 0% on cash withdrawals abroad. This makes it a great card to take away with you, especially as you will continue to earn cashback on your spending worldwide.
  • No annual fee – You are not charged one penny for the privilege of earning cashback. This card carries no annual or monthly fee, so you can just start spending and earning rewards.
  • Worth knowing – The card does not currently offer balance transfers, but it is unlikely you would want that if you are looking at this card. One other added bonus, but not a wise one to test, is that you will not be charged a fee for going over your credit limit.

Why trust me

I worked on the front line of personal-finance best buys for over eight years at one of the world’s largest research companies, Nielsen. I reported daily on the developments of the 2008 financial crisis and beyond, keeping up with the changing financial landscape and providing insights to all the major banks in the UK. I know the key players in the market and the tactics behind how they behave. All of which I will apply to highlight the best deals and give honest reviews to help you in your search.

What could be improved

The Tandem Cashback Credit Card offers a nice package for those who are looking for cash rewards on their spending, but there are some areas that it falls slightly short on.

  • No sign-up bonuses – The card lacks the sign-up bonuses that some other cards have, with no initial cash injection for taking out the card.
  • No introductory periods – The card also doesn’t offer any introductory 0% interest periods for purchases or balance transfers. Although introductory offers are not a necessity for a card like this, 0% on purchases combined with a 0.5% cashback yield would have been a hard offer to refuse.
  • UK cash withdrawal charge – While card holders can benefit from no fees for using their card abroad, they will be charged 2.5%, with a minimum charge of £2.50, for cash withdrawals made in the UK. The card is very much positioned as a great option to take abroad with you, but make sure you don’t get caught out by the charges attached to being back on home soil.

How does the Tandem Cashback Credit Card offer stack up?

There are other cards out there that offer the chance to build up a higher level of cashback or that give more sign-up incentives, but the Tandem Cashback Credit Card’s offer of a 0.5% cashback yield on purchases is competitive, and the added benefit of no-fee foreign usage is enticing for someone who travels a lot.

The Tandem Cashback Credit Card credit score

The card provider will perform a credit assessment on applicants and does state that you will be more likely to be accepted if you have a good credit history. It also requires each applicant to be at least 18 years old and a UK resident with a minimum annual income of £13,000.

How to apply

The application can be made through Tandem’s website and will take approximately 10 minutes. You will be required to provide your home addresses in the UK over the last three years, details of your monthly income and your mobile phone number.

Is the Tandem Cashback Credit Card right for you?

If you are in the market for a card that will give you something back without an annual fee, then the Tandem Cashback Credit Card could be a good choice. The 0.5% cashback on spending over £1 means that you can start earning some money alongside your credit card spend immediately, without having to reach a certain level of spending in order to qualify for the reward. If you are also someone who likes to travel, the ability to earn cashback on foreign expenditure and the lack of fees for using your card outside the UK means that it is a handy card to have with you when you leave home shores.

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