Based on looking at the website, Internetcashback.co.uk appears to be a platform that helps users compare and find various types of credit cards, primarily focusing on rewards credit cards that offer cashback, points, or air miles. While it aims to assist users in making informed financial decisions, the core product it promotes—credit cards, especially those with interest (Riba)—is not in alignment with ethical financial practices. The website’s emphasis on maximising rewards through spending, often linked to accruing interest if balances aren’t cleared, encourages a system that can lead to financial burdens.
Here’s an overall review summary:
- Service Offered: Comparison of reward credit cards, cashback cards, and other credit card types.
- Key Feature: Soft credit checks to show eligible cards without affecting credit score.
- Target Audience: Individuals seeking to earn rewards (cashback, points, air miles) on their spending.
- Ethical Consideration: Promotes interest-based financial products (credit cards), which are generally discouraged due to the concept of Riba (interest).
- Website Transparency: Provides information on how credit cards work, including pros and cons, fees, and potential interest charges. However, it implicitly encourages engaging with a system that can be financially detrimental if not managed perfectly.
- Recommendation: Not recommended due to the promotion of interest-based financial instruments, which carry inherent risks and ethical concerns related to Riba.
The website provides a service to compare credit cards, which on the surface seems helpful for finding deals. However, it’s crucial to understand that credit cards fundamentally involve interest (Riba) unless the balance is paid in full every month, which many users struggle to do consistently. The allure of “rewards” like cashback or air miles can easily overshadow the high interest rates that apply to outstanding balances. This creates a cycle where the “rewards” are often far outweighed by the cost of interest, leading to potential debt and financial strain. It’s a system designed to entice spending, often beyond one’s means, under the guise of benefits.
Here are some alternatives that promote ethical financial habits and tangible benefits, rather than relying on interest-based schemes or encouraging excessive spending:
-
0.0 out of 5 stars (based on 0 reviews)
There are no reviews yet. Be the first one to write one.
Amazon.com: Check Amazon for Internetcashback.co.uk Review
Latest Discussions & Reviews:
- Key Features: Digital-only bank, instant spending notifications, budgeting tools, savings pots, fee-free spending abroad. Focuses on helping users manage their money effectively and avoid debt through clear visibility of finances.
- Average Price: Generally free for a standard account, with optional paid tiers for extra features.
- Pros: Excellent user interface, real-time spending tracking, helpful budgeting features, strong customer support.
- Cons: No physical branches, some advanced features are behind a paywall.
-
- Key Features: Award-winning digital bank, spending insights, budgeting tools, Spaces for saving, fee-free international transfers, business accounts available. Emphasises financial control and transparency.
- Average Price: Free for a personal account, with no monthly fees.
- Pros: Comprehensive budgeting features, strong mobile app, excellent customer service, competitive exchange rates for international transactions.
- Cons: No physical branches, some users might prefer a bank with a high street presence.
-
- Key Features: Offers a range of ethical and Sharia-compliant investment funds, allowing individuals to grow their wealth in accordance with their values. Focuses on long-term, responsible investing.
- Average Price: Varies based on chosen fund and investment amount, typically involves annual management charges.
- Pros: Opportunity for long-term wealth growth, diverse range of ethical investment options, reputable global investment firm.
- Cons: Involves investment risk, requires research to choose suitable funds.
-
- Key Features: Connects all your bank accounts, provides spending insights, helps set budgets, tracks subscriptions, and identifies areas for saving. Promotes responsible spending and financial planning.
- Average Price: Free.
- Pros: Comprehensive financial overview, easy-to-use interface, helps identify unnecessary spending.
- Cons: Requires linking bank accounts (some users may have privacy concerns), relies on consistent data input for accuracy.
-
Financial Literacy Books (e.g., The Total Money Makeover by Dave Ramsey)
- Key Features: Provides practical steps and a proven plan for debt elimination, saving, and building wealth. Focuses on fundamental principles of financial discipline.
- Average Price: Varies based on format (paperback, ebook, audiobook), typically £10-£20.
- Pros: Clear, actionable advice, emphasis on debt-free living, provides a solid framework for financial planning.
- Cons: Requires discipline to follow the plan, some advice might be tailored to a US context (though principles are universal).
-
Ethical Savings Accounts (e.g., Gatehouse Bank)
- Key Features: Offers Sharia-compliant savings accounts, which means no interest is earned or paid. Instead, returns are generated through ethical investments in tangible assets.
- Average Price: No fees for standard savings accounts.
- Pros: Fully Sharia-compliant, ethical investment practices, secure savings.
- Cons: Limited range of products compared to conventional banks, returns may vary.
-
Online Courses on Financial Planning (e.g., from Open University)
- Key Features: Structured learning on personal finance, budgeting, saving, and investing. Provides foundational knowledge to manage money wisely and independently.
- Average Price: Varies significantly; some introductory courses are free, while accredited programmes can cost hundreds.
- Pros: Comprehensive knowledge, can lead to recognised qualifications, empowers individuals to make informed financial decisions.
- Cons: Requires time commitment, cost can be a barrier for some paid courses.
Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.
IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.
[ratemypost]
Internetcashback.co.uk Review & First Look
When you first land on Internetcashback.co.uk, you’re immediately presented with a straightforward proposition: find a credit card that gives you rewards. The site focuses heavily on “Credit Cards Rewards,” promoting options like cashback, points, or air miles. It’s slick, with clear calls to action like “See which credit cards you’re eligible for” and “Check eligibility.” The design is clean, professional, and very much in line with what you’d expect from a financial comparison site in the UK.
Initial Impressions and User Interface
The user interface is intuitive. Large headings, benefit-driven subheadings, and concise paragraphs make for an easy read. They highlight features like “Comparing won’t affect your credit score,” which is a common concern for users looking into financial products. The site aims to simplify what can often be a complex decision for many—choosing a credit card. It attempts to guide users through the process by asking for basic information such as income, household details, and personal information to conduct a “soft check.”
The “Soft Check” Mechanism
This “soft check” is a key selling point. It allows users to see which cards they are “likely to get” without leaving a mark on their credit file, which is a legitimate benefit for anyone cautious about multiple hard inquiries impacting their credit score. The explanation of why they need this information (income, address, dependents) is clear, stating it’s to “narrow down your search” and “assess your eligibility.” This level of transparency about data collection is important for user trust.
Focus on Rewards and Spending
The narrative quickly shifts to the types of rewards available: Airmiles cards for travel, Supermarket cards for loyalty points, and Cashback cards for a direct percentage back. This breakdown is helpful for understanding the various avenues of “earning” from credit card usage. However, this entire premise, while seemingly beneficial, operates within a framework that relies on consumers engaging with interest-bearing financial instruments. The constant mention of “rewards” subtly encourages spending, which, if not managed meticulously, can quickly lead to debt from high-interest rates. It’s a classic carrot-and-stick scenario, where the carrot (rewards) is enticing, but the stick (interest) can be financially damaging.
Internetcashback.co.uk Pros & Cons
Alright, let’s break down the advantages and disadvantages of Internetcashback.co.uk, especially when viewed through an ethical lens. This isn’t just about what they say they do, but what their underlying model promotes. Bigjon.co.uk Review
Cons: The Ethical and Financial Pitfalls
The primary concern with Internetcashback.co.uk, and similar platforms, is their promotion of interest-based credit cards. This runs contrary to ethical financial principles that discourage Riba (interest) and the accumulation of debt that often accompanies it.
- Promotion of Riba (Interest): The very foundation of credit cards is lending money with interest. Even if you clear your balance every month, the option to carry a balance and incur interest is inherent. The site even states, “Most rewards cards don’t offer 0% interest on purchases, which means you will be charged interest on any outstanding balance.” This is a stark warning that can easily be overlooked by those chasing rewards.
- Statistic: According to The Money Charity’s UK Personal Debt Statistics (July 2023), the average outstanding credit card debt per household in the UK was £2,207. This figure underscores how common it is for people to carry a balance and thus incur interest.
- Encourages Excessive Spending: The allure of “earning rewards every time you spend” can tempt individuals to spend more than they otherwise would, just to accumulate points or cashback. This often leads to overspending and reliance on credit.
- Example: A user might buy a more expensive item or make unnecessary purchases to reach a “bonus points” threshold, even if they don’t truly need the item.
- High-Interest Rates Can Outweigh Rewards: The site itself acknowledges this, stating, “Unless the rewards you earn are more than the interest you accrue, you will be out of pocket overall.” The reality is, credit card interest rates in the UK can easily range from 20% to 30% APR or even higher. It’s incredibly difficult for cashback (typically 0.5% – 5%) or points to genuinely offset these costs if a balance is carried.
- Data Point: A typical rewards credit card might offer 1-2% cashback. If you spend £1,000 and carry a balance at 25% APR, you’d pay £250 in interest over a year (simplified for illustration), far more than the £10-£20 cashback earned.
- Credit Score Dependency and Debt Cycle Risk: While a soft check is good, the eligibility for these cards still relies on a “good credit rating.” For those with less-than-perfect credit, trying to obtain these cards can lead to rejections, and if successful, they might be offered even higher interest rates, deepening the potential debt trap. The site also cautions against multiple applications impacting one’s credit report.
- Hidden Fees and Complex Terms: The advice to “Check the small print” is crucial but often ignored. Annual fees, foreign transaction fees, and specific spending categories for earning rewards can make the true cost opaque and diminish the perceived benefits.
Pros: Limited and Contextual Advantages
While the ethical concerns are substantial, it’s worth noting the site’s functional benefits from a purely consumer-comparison perspective.
- Soft Credit Check Feature: This is genuinely useful for users who want to explore options without harming their credit score with multiple hard inquiries. It provides a low-risk way to gauge eligibility.
- Comparison Tool: The platform offers a structured way to compare different credit card products side-by-side, potentially saving users time they would spend navigating individual bank websites.
- Information and Education: The site provides explanations on different types of rewards, how APR works, and Section 75 protection. This educational content, while promoting a problematic financial instrument, does inform users about aspects of credit cards.
- Section 75 Protection: Credit cards offer Section 75 protection under the Consumer Credit Act 1974, which means the card provider is jointly liable with the retailer if something goes wrong with a purchase over £100 and up to £30,000. This is a significant consumer protection that debit cards don’t offer.
In summary, while Internetcashback.co.uk offers a convenient comparison service and some useful information, its core offering of interest-based credit cards presents significant ethical and financial risks that far outweigh any perceived benefits of “rewards.”
Understanding the Credit Card Model
The credit card model, as presented by Internetcashback.co.uk, is fundamentally built on deferred payment and, crucially, interest. It’s a system that can be incredibly lucrative for financial institutions but often fraught with peril for consumers if not managed with extreme diligence. Let’s peel back the layers and see how this mechanism truly works.
The Mechanism of Interest (Riba)
At its heart, a credit card is a line of credit. You borrow money from the card issuer to make purchases, and you agree to repay that borrowed amount. The problematic element, from an ethical standpoint, is the interest (Riba) charged on any balance that isn’t paid off in full by the due date. Waterhousebath.co.uk Review
- How it works: When you use a credit card, the bank pays the merchant. You then owe the bank that amount. If you pay the full statement balance before the due date, you generally don’t pay interest on those purchases (this is the “grace period”). However, if you only pay the minimum amount, or any amount less than the full balance, the remaining outstanding balance will be charged interest, usually at a very high Annual Percentage Rate (APR).
- The Trap: The “minimum payment” is often a small percentage of the outstanding balance, designed to keep you in debt longer, thus maximising the interest the bank collects. For example, if you owe £1,000 on a card with a 25% APR and only pay the minimum £25 each month, it could take years to clear the debt and you’d pay significantly more in interest than the original £1,000.
- Real-world scenario: A £2,000 credit card debt at 25% APR with a minimum payment of 2.5% (£50) would take over 10 years to repay and accrue over £2,500 in interest, meaning you’d pay more than double the original debt.
The Allure of Rewards vs. The Cost of Debt
Internetcashback.co.uk heavily promotes the “rewards” aspect: cashback, air miles, loyalty points. These are designed to be an enticing incentive.
- Cashback: A percentage of your spending is returned to you, typically 0.5% to 5%. This sounds like a discount.
- Air Miles/Points: These can be redeemed for flights, upgrades, or merchandise.
- The Illusion of Free Money: The perception is that you’re getting something “for free” just by spending as you normally would. However, this neglects the fundamental cost if a balance is carried. The high APRs on most rewards cards mean that even a small outstanding balance can quickly erode any value gained from the rewards. For instance, if you earn £50 in cashback but pay £150 in interest, you’re still £100 worse off.
Behavioural Economics and Debt
The credit card model also leverages behavioural economics. The ease of “tap and go” payments, the delayed gratification of rewards, and the psychological distance between spending and immediate payment all contribute to a higher propensity to spend.
- Delayed Payment: Not paying immediately for a purchase can make it feel less like “real money” is being spent, leading to less careful consideration of purchases.
- Confirmation Bias: Once a person decides to get a rewards card, they might selectively focus on the benefits (cashback, points) and downplay the risks (high interest, debt).
- The “Use it or Lose it” Mentality: Some rewards schemes encourage spending within certain categories or timeframes to maximise points, leading to unnecessary purchases.
In essence, while Internetcashback.co.uk positions itself as a helpful comparison site, it’s facilitating engagement with a financial product that carries significant ethical and financial risks due to its interest-based structure and inherent tendency to encourage debt.
Ethical Financial Alternatives for the UK Market
Given the ethical reservations surrounding interest-based credit cards and the encouragement of debt, it’s vital to explore financial alternatives that align with principles of fairness, transparency, and responsible money management. The UK market offers a growing number of options that eschew traditional interest models.
Islamic Finance Principles
A cornerstone of ethical finance, Islamic finance operates on principles that prohibit Riba (interest), Gharar (excessive uncertainty or speculation), and Maysir (gambling). Instead, it promotes profit-and-loss sharing, asset-backed transactions, and tangible economic activity. Elixirmedia.co.uk Review
- Mudarabah (Profit-Sharing): A partnership where one party provides capital and the other provides expertise. Profits are shared, and losses are borne by the capital provider unless due to negligence.
- Musharakah (Joint Venture): A partnership where all parties contribute capital and expertise, sharing profits and losses.
- Murabaha (Cost-Plus Financing): Not a loan, but a sale. The bank buys an asset and sells it to the customer at a pre-agreed mark-up. This avoids interest by structuring it as a trade.
- Takaful (Islamic Insurance): A cooperative system where participants contribute to a fund to provide mutual financial aid in case of loss, rather than paying premiums to a conventional insurer with investment in impermissible assets.
Sharia-Compliant Banks in the UK
The UK is a leading hub for Islamic finance in the West, with several dedicated Sharia-compliant banks. These institutions offer a range of products that are free from Riba and adhere to ethical investment guidelines.
- Gatehouse Bank: One of the most prominent, offering Sharia-compliant home finance (Home Purchase Plans, similar to Murabaha), savings accounts (which offer expected profit rates rather than interest), and ethical investment products. Their savings accounts invest in tangible, ethical assets, and the returns are shared with depositors.
- Focus: Property finance, savings, and commercial real estate.
- Transparency: Clearly outlines their Sharia Supervisory Board and their investment principles.
- Al Rayan Bank: Historically the largest Islamic bank in the UK, offering a full range of personal and business banking products, including Sharia-compliant mortgages (Home Purchase Plans), savings accounts, and business finance.
- Focus: Retail and business banking, with a wide array of products.
- Community Engagement: Often involved in community initiatives that promote ethical finance.
Building Wealth Ethically
Instead of relying on credit card rewards, which can be a slippery slope into debt, focus on sustainable wealth-building strategies.
- Ethical Investment Funds: Many fund managers now offer ethical or Sharia-compliant funds. These funds screen out investments in industries like alcohol, tobacco, gambling, conventional finance, and armaments.
- Example: Funds that invest in renewable energy, sustainable agriculture, ethical technology, or healthcare.
- Platforms: Check out platforms like Hargreaves Lansdown or Fidelity for their range of ethical investment options. Always verify their specific Sharia compliance if that’s a requirement.
- Budgeting and Saving Apps: Tools like Monzo, Starling Bank, or Yolt (mentioned previously) are invaluable for tracking spending, setting savings goals, and building financial discipline without relying on credit.
- Benefit: They give you real-time insights into your finances, helping you to live within your means and allocate funds effectively.
- Entrepreneurship and Honest Trade: Focus on generating income through legitimate business ventures and honest trade, where profit is earned through effort and value creation, rather than through interest or speculative practices.
- Guidance: Seek advice from organisations like the British Business Bank for support and resources for small businesses.
By actively choosing these ethical alternatives, individuals can manage their finances responsibly, avoid the pitfalls of debt, and ensure their financial activities align with their values. This approach prioritises long-term financial well-being and moral integrity over short-term “rewards” that often come with significant hidden costs.
How to Avoid Unethical Financial Products
Navigating the modern financial landscape can feel like walking through a minefield, especially when trying to adhere to ethical principles. Many seemingly convenient products, like the credit cards promoted by Internetcashback.co.uk, come with inherent structures that can lead to debt and interest. Here’s a practical guide on how to steer clear of these pitfalls.
Understanding the Core Issues: Interest (Riba) and Debt
The biggest red flags in conventional finance are products that involve Riba (interest) and those that encourage irresponsible debt. Emagicstudios.co.uk Review
- Interest-Based Products: This includes most conventional loans, credit cards, mortgages, and even some savings accounts where the bank pays interest. The issue is that money is being lent or borrowed purely for a return on the principal, without direct connection to tangible assets or shared risk.
- Action: Always scrutinise how returns are generated on savings and how repayments are structured on borrowing. If it’s a fixed percentage on a principal amount, it’s likely interest.
- Encouragement of Debt: Products designed to make borrowing easy or to incentivise spending you don’t have. Buy Now, Pay Later (BNPL) schemes, while sometimes interest-free if paid on time, can easily lead to overspending and subsequent interest/fees if payments are missed.
- Action: Prioritise cash-based transactions. If you can’t afford something now, save for it.
Practical Steps to Avoid Unethical Products
-
Educate Yourself on Ethical Finance:
- Resources: There are many online resources, books, and seminars available that explain Islamic finance and ethical investing principles. Start with reputable sources like the Islamic Finance Council UK (UKIFC) or academic institutions offering courses on the subject.
- Key Concepts: Learn about Riba, Gharar, Maysir, and ethical investment screening criteria. Knowing these terms will help you identify problematic products.
-
Choose Sharia-Compliant Institutions:
- Banks: In the UK, banks like Gatehouse Bank and Al Rayan Bank offer a full suite of personal and business banking services that adhere to Sharia principles. They offer accounts, financing, and investments structured to avoid interest.
- Financial Advisers: Seek out independent financial advisers who specialise in ethical or Islamic finance. They can guide you towards suitable products and strategies.
-
Prioritise Saving Over Borrowing:
- Emergency Fund: Build a robust emergency fund (3-6 months of living expenses) in a Sharia-compliant savings account. This reduces the need for loans or credit cards in unexpected situations.
- Goals-Based Saving: Instead of financing large purchases (like cars or holidays) with credit, save up for them. This instils financial discipline and ensures you own assets outright without debt.
- Example: Instead of a car loan, use a “Musharakah-based” financing option from an Islamic bank where you gradually buy shares in the car until you own it fully, or simply save up and buy it outright.
-
Adopt a Cash-First Mentality:
- Debit Cards: Use debit cards for everyday spending, as these draw directly from your own funds.
- Budgeting: Implement strict budgeting. Apps like Monzo or Starling Bank (with their “pots” or “spaces” features) can help you allocate funds and track spending in real-time, preventing overspending.
- Avoid “Rewards” that Require Debt: Be wary of any “cashback” or “points” scheme attached to credit. True financial strength comes from managing your own money wisely, not from accumulating small percentages back on debt.
-
Review Existing Financial Products: Kme.co.uk Review
- Audit Your Accounts: Regularly review your bank statements, loans, and investments. Identify any products where you are paying or receiving interest.
- Seek Alternatives: If you have conventional loans or credit card debt, research Sharia-compliant refinancing options or focus on aggressive debt repayment strategies. Consolidate high-interest debt with a zero-interest personal loan (if one exists and fits ethical criteria) or through a structured repayment plan.
By taking a proactive approach and prioritising knowledge, ethical institutions, and disciplined saving, you can build a strong financial foundation that aligns with your values and protects you from the pitfalls of conventional, interest-based finance.
Internetcashback.co.uk Alternatives
When it comes to managing your money ethically and effectively, moving away from interest-based credit cards is a smart first step. While Internetcashback.co.uk focuses on a model that can lead to debt, there are numerous ethical alternatives in the UK that prioritise sound financial practices, savings, and responsible spending. These options don’t just avoid Riba; they empower you to take control of your finances without the allure of unsustainable “rewards.”
1. Digital Banks for Smart Budgeting
These banks offer a modern, app-first approach to banking, focusing on spending insights, budgeting tools, and real-time notifications, which are far more beneficial than cashback for fostering financial discipline.
-
- Key Features: Instant spending notifications, categorised spending, budgeting tools for setting limits, “Pots” for saving specific goals, fee-free spending abroad. It’s designed to give you a clear, real-time picture of your money.
- Why it’s better: Encourages conscious spending and saving, preventing debt accumulation. You know exactly where your money goes.
- Pricing: Standard account is free.
-
Starling Bank: Ssp.co.uk Review
- Key Features: Similar to Monzo, with excellent spending insights, “Spaces” for saving, interest on current account balances (though one should clarify their Sharia-compliance for this aspect if it’s a concern, often it’s on positive balances and thus not Riba in the strict sense for the user), and strong customer service. Also offers business accounts.
- Why it’s better: Provides robust tools to manage income and expenses, promoting financial literacy and control.
- Pricing: Personal account is free.
2. Ethical and Sharia-Compliant Savings & Investments
Instead of earning small percentages back on spending, focus on growing your wealth through ethical means.
-
- Key Features: Offers Sharia-compliant savings accounts, including Fixed Term Deposit Accounts and Easy Access Accounts. Funds are invested ethically, and returns are generated through profit-sharing, not interest. Also provides Sharia-compliant home financing (Home Purchase Plans).
- Why it’s better: Provides a genuine ethical alternative to conventional interest-bearing savings, allowing you to save money in line with your principles.
- Pricing: No fees for savings accounts; returns vary based on deposit product.
-
- Key Features: The UK’s oldest and largest Islamic bank, offering a comprehensive range of Sharia-compliant personal and business banking services, including savings accounts (fixed term, notice, instant access) and home finance.
- Why it’s better: A well-established institution offering a full suite of services that adhere strictly to Islamic finance principles.
- Pricing: No fees for savings accounts; returns vary.
-
Ethical Investment Platforms (e.g., Vanguard Ethical Funds)
- Key Features: Platforms like Vanguard offer various ethical funds that screen out companies involved in fossil fuels, armaments, tobacco, gambling, and other problematic sectors. While not always strictly Sharia-compliant in every detail without further screening, they align with broader ethical investing principles.
- Why it’s better: Allows you to invest for long-term growth in companies that meet certain ethical criteria, promoting responsible capitalism.
- Pricing: Fund fees and platform fees apply, varying by fund and platform.
3. Financial Education and Debt Management Resources
Knowledge is power. Investing in your financial literacy is far more valuable than any credit card reward. Linenstore.co.uk Review
-
- Key Features: A comprehensive, free resource for all things personal finance in the UK. Offers guides on budgeting, saving, debt management, and finding the best deals on non-interest-based products like energy or mobile tariffs. Run by Martin Lewis.
- Why it’s better: Provides unbiased, practical advice to save money and avoid debt, empowering consumers to make smart financial choices independently.
- Pricing: Free.
-
- Key Features: A leading UK debt charity offering free, confidential debt advice and practical solutions. If you find yourself in financial difficulty, they can help you create a sustainable debt management plan.
- Why it’s better: Provides crucial support for those struggling with debt, helping them navigate complex financial situations without falling further into the interest trap.
- Pricing: Free advice.
By focusing on these alternatives, you can build a robust and ethical financial strategy that promotes long-term stability and aligns with responsible values, far outweighing the superficial benefits offered by interest-based credit cards.
How to Cancel Internetcashback.co.uk Subscription
It’s important to clarify that Internetcashback.co.uk is a comparison website and, based on the provided text, does not appear to offer a direct subscription service that you would need to cancel. Their model is to connect users with third-party credit card providers. Therefore, there isn’t a “subscription” to cancel with Internetcashback.co.uk itself.
Understanding Internetcashback.co.uk’s Role
Internetcashback.co.uk acts as an intermediary. They gather your information (income, household details, personal data) to perform a “soft check” and then present you with credit card offers from various financial institutions. Once you click through and apply for a credit card, your relationship is primarily with the credit card provider (e.g., a bank like Barclays, HSBC, etc.), not with Internetcashback.co.uk. Purelypolish.co.uk Review
What You Might Be Looking to “Cancel”
If you’ve interacted with Internetcashback.co.uk, you might be thinking of one of the following scenarios:
-
You applied for a credit card through their link and now want to cancel the credit card application:
- Action: You would need to contact the specific credit card provider directly. Each bank will have its own application cancellation process. This usually involves calling their customer service line as soon as possible after applying. Note that once an application is processed and the card issued, it becomes a cancellation of the card account, not just an application.
-
You are receiving marketing emails from Internetcashback.co.uk:
- Action: Look for an “unsubscribe” link at the bottom of any email you receive from them. Clicking this link should remove you from their mailing list. This is standard practice under GDPR (General Data Protection Regulation) in the UK.
-
You are concerned about the data you provided to Internetcashback.co.uk:
- Action: Under GDPR, you have the right to request access to your data, rectification of inaccurate data, or erasure of your data. You would need to contact Internetcashback.co.uk directly, likely via a “Contact Us” section or a dedicated data protection officer email, to make such a request. They are legally obliged to respond to such requests. Look for their privacy policy on their website for details on how to exercise your data rights.
Key Takeaway
Since Internetcashback.co.uk is a comparison service, not a product provider, the concept of cancelling a “subscription” with them doesn’t directly apply. Your focus should be on managing any actual credit card accounts you may have opened as a result of using their service, or managing your data privacy preferences. Nsno.co.uk Review
Internetcashback.co.uk Pricing
Internetcashback.co.uk, as a credit card comparison website, doesn’t have “pricing” in the traditional sense that a customer would pay for a subscription or a service. Instead, its business model is likely based on affiliate marketing. This means they earn revenue when users click through their links and successfully apply for a credit card with one of their partner financial institutions.
How Their Business Model Works
- Affiliate Commissions: When you click on a credit card offer on Internetcashback.co.uk and subsequently get approved for that card, the credit card provider pays Internetcashback.co.uk a commission. This is a common and legitimate business model for comparison websites across various industries (e.g., insurance, energy, travel).
- No Direct Customer Cost: This means that, for the end-user, there is no direct fee or charge for using the Internetcashback.co.uk platform to compare credit cards. The service is “free” to the consumer.
- Impact on Recommendations: While comparison sites generally aim to show you the “best” deals, it’s always worth remembering that their revenue model might influence which products are promoted most prominently. They typically have agreements with a range of providers, and the specific commission structure can sometimes affect ranking. However, reputable comparison sites in the UK are also regulated to ensure transparency and fairness in their comparisons.
What “Pricing” Information You Will Find on the Site
Although Internetcashback.co.uk itself doesn’t charge users, it provides crucial “pricing” information about the credit cards it compares. This is where the real financial implications lie for the user. The site explicitly mentions:
- Annual Fees: “Reward credit cards usually charge an annual fee, especially those that offer the most rewards.” This is a direct cost to the cardholder, irrespective of how much they spend or if they carry a balance. These fees can range from zero to hundreds of pounds per year.
- Interest Rates (APR): “Most rewards cards don’t offer 0% interest on purchases, which means you will be charged interest on any outstanding balance.” The Annual Percentage Rate (APR) is the true cost of borrowing if you don’t pay your balance in full each month. These rates are typically high for credit cards, often 20% to 30% or more.
- Other Potential Charges: While not explicitly detailed on the homepage, credit cards can also have fees for:
- Late payments
- Cash advances (often with immediate interest accrual)
- Exceeding credit limits
- Foreign transactions
Key Takeaway on “Pricing”
Internetcashback.co.uk itself is a free-to-use comparison tool. The “pricing” concerns for the consumer arise from the terms and conditions of the credit cards they ultimately apply for. It is critical for users to thoroughly understand the fees, interest rates, and other charges associated with any credit card before applying, as these are the true financial costs that can quickly outweigh any perceived “rewards.” From an ethical perspective, the implicit “cost” is the engagement with an interest-based financial system, which is fundamentally problematic.
FAQ
What is Internetcashback.co.uk?
Internetcashback.co.uk is a UK-based comparison website that helps users find and compare various types of credit cards, primarily focusing on reward credit cards that offer cashback, points, or air miles.
Is Internetcashback.co.uk a legitimate website?
Yes, Internetcashback.co.uk appears to be a legitimate comparison website operating within the UK financial services sector, acting as an intermediary to connect users with credit card providers. Fizzit.co.uk Review
Does Internetcashback.co.uk offer its own credit cards?
No, Internetcashback.co.uk does not offer its own credit cards. It is a comparison platform that directs users to credit card products offered by various third-party financial institutions.
How does Internetcashback.co.uk make money?
Internetcashback.co.uk likely makes money through affiliate commissions. When a user clicks on a credit card offer on their site and successfully applies for that card with a partner provider, Internetcashback.co.uk receives a fee from the provider.
Do I have to pay to use Internetcashback.co.uk?
No, using Internetcashback.co.uk to compare credit cards is free for the user.
Will using Internetcashback.co.uk affect my credit score?
Internetcashback.co.uk claims to use a “soft check” on your credit record to assess eligibility, which should not impact your credit score. A hard credit check, which can temporarily affect your score, typically only occurs when you formally apply for a credit card directly with a provider.
What kind of credit cards can I find on Internetcashback.co.uk?
You can find various types of credit cards, including cashback credit cards, air miles cards, supermarket loyalty cards, balance transfer credit cards, credit building cards, and 0% interest credit cards. Ecashback.co.uk Review
Are reward credit cards recommended from an ethical perspective?
Generally, reward credit cards are not recommended from an ethical financial perspective due to their underlying interest (Riba) model, which can lead to debt and often encourages excessive spending, outweighing any perceived benefits from rewards.
What are the main risks of using a reward credit card?
The main risks include incurring high interest rates if you don’t clear your balance every month, being tempted to overspend to gain rewards, and annual fees potentially outweighing the value of the rewards earned.
What information does Internetcashback.co.uk require for eligibility checks?
They require information about your income (employment status, start date, annual income), household details (address, homeowner status, rent/mortgage payments), and personal information (name, date of birth, contact details, number of dependents).
How accurate are the eligibility results from Internetcashback.co.uk?
While their “soft check” aims to provide an accurate indication of eligibility, it is not a guarantee of approval. The final decision rests with the credit card provider after a full application.
Can I get a reward credit card with bad credit?
According to the website, getting a reward credit card is “tough” if your credit rating is poor, as these cards are generally intended for those with fair to good credit ratings. Online-bathrooms.co.uk Review
Do credit card rewards expire?
Yes, for some cards, points or air miles may expire after a few years or if the account is closed or inactive. It’s crucial to check the specific terms and conditions of each card.
What is Section 75 protection mentioned on the site?
Section 75 of the Consumer Credit Act 1974 provides consumer protection. If you purchase goods or services costing between £100 and £30,000 using a credit card, the card provider is jointly liable with the retailer if something goes wrong (e.g., goods are faulty or the company goes bust).
What are ethical alternatives to credit cards for building financial discipline?
Ethical alternatives include using digital banks with strong budgeting tools (e.g., Monzo, Starling Bank), opening Sharia-compliant savings accounts (e.g., Gatehouse Bank, Al Rayan Bank), and focusing on saving for purchases rather than using credit.
How can I stop receiving emails from Internetcashback.co.uk?
You should look for an “unsubscribe” link at the bottom of any marketing emails you receive from them and click it to remove yourself from their mailing list.
Does Internetcashback.co.uk offer financial advice?
No, the website explicitly states that “The information provided does not constitute financial advice.” They recommend contacting an independent financial advisor if you are unsure about a financial product. Heathrow-airport-guide.co.uk Review
What is the difference between a rewards card and a cashback card?
A rewards card is a broad term for credit cards offering various rewards like points or air miles. A cashback card is a specific type of rewards card that gives you back a percentage of your spending as cash, which is typically credited back to your account.
How can I ensure I manage a credit card responsibly if I choose to get one?
To manage a credit card responsibly, always aim to clear your outstanding balance in full each month to avoid interest charges, use it for everyday spending you can afford, and choose a card whose rewards truly benefit you and outweigh any annual fees.
Where can I find Sharia-compliant financial products in the UK?
You can find Sharia-compliant financial products at dedicated Islamic banks in the UK such as Gatehouse Bank and Al Rayan Bank. Many conventional platforms also offer ethical or Sharia-compliant investment funds that can be researched further.
Leave a Reply