MBNA withdraws Amex Rewards and Cashback credit cards – Money Perception

American Express also has a Platinum Cashback credit card which pays 5pc cashback up to a maximum of £125.  The rate then drops to 1.25pc on spending over £10,001, or 1pc on smaller sums. There is a £25 annual fee.

Asda’s Money card pays shoppers 1pc on spending at Asda and 0.5pc elsewhere. Its Cashback Plus card offers 2pc cashback on Asda spending and 1pc on other purchases but costs £3 a month.

Santander’s Everyday credit card offers 0.5pc cashback and five “welcome offers” which give borrowers between 5pc and 25pc at selected retailers. You can also opt in to its retail offer scheme which could earn you 15pc cashback. The card costs £3 a month.

And which cards have already gone?

Capital One, one of the biggest credit card providers, was the first to pull back from cashback schemes.  It withdrew all of its reward cards in April 2015. A month later RBS and NatWest announced the end of the “YourPoints” scheme.

Tesco Bank was another provider to make its rewards scheme less attractive.  In November it announced that customers would need to spend £8 outside Tesco to earn one Clubcard point, instead of £4 previously.