These are the credit cards currently available in Guernsey that offer cashback. Currently there are only two.
Butterfield Platinum and World Elite
Looking only at the cashback rate, the Butterfield Platinum Mastercard is as of February 2024 the best card available as it offers the maximum cashback with the lowest fee and without a stringent income requirement.
Butterfield’s credit cards pay the cashback monthly as a statement credit in pounds not points.
The Butterfield Platinum Mastercard pays 0.5% cashback with a £50 annual fee.
The Butterfield World Elite Mastercard also pays 0.5% with an annual fee of £195. The World Elite offers additional benefits but not additional cashback. A minimum income of £120K or £120K held in deposit accounts is required to apply for the Butterfield Word Elite.
For more details please visit:
https://www.butterfieldgroup.com/en-gg/personal-banking/credit-cards
HSBC Premier and Premier World Elite
Only available for HSBC Premier customers. A minimum income of £75K is required to apply for such an account.
The Premier card has no annual fee and gives one point per pound of spending. This is equivalent to a cashback rate of 0.33% when the points are used for Amazon vouchers.
The World Elite card has a fee of £195 per year and gives two points per pound of spending. This is equivalent to a cashback rate of 0.67% when used for Amazon vouchers. There are other benefits aside from the cashback but you would need to spend £39K per year to earn back the card fee.
Once you earn your points with either card, 1500 points are equivalent to a £5 Amazon voucher. There are multiple other options to redeem your points including Airmiles, Sainbury’s and M&S.
For more details please visit:
https://ciiom.hsbc.com/credit-cards/products/premier/
https://ciiom.hsbc.com/credit-cards/products/premier-world-elite-credit-card/