Chase is boosting its cashback to 2% – though how and where you get it is changing

The new offer is a boost for Chase card holders after the bank restricted its cashback offer in April 2025, limiting it to 1% on groceries, transport and fuel in the UK. Previously, you had been able to earn 1% cashback on most debit card spending worldwide.

Chase is boosting its cashback offer

From Wednesday 1 July (for most customers):

• You'll be able to earn cashback at UK restaurants, cafes and takeaways. Chase says this includes fast food chains and restaurants, such as Nando's, Dishoom and Wagamama, as well as takeaway services Deliveroo, UberEats and Just Eat.

• The cashback rate will rise from 1% to 2%. This will apply to both the existing eligible categories (UK groceries, transport and fuel), and the new ones (UK restaurants, cafes and takeaways).

• You'll be able to earn up to £20 a month total – up from £15 a month. This means you'll be able to earn up to £240 a year in cashback, up from £180 a year.

Both the Chase debit and credit card offer fee-free spending abroad. Chase's debit card is one of our top picks for travel spending and rewards. However, you still won't be able to earn cashback on spending overseas.

The criteria to earn ANY cashback has changed – don't get caught out

Currently, you need to pay in a minimum of £1,500 into either your Chase current or savings account to qualify for 1% cashback the following month. You only have to do this once each month and you can then spend or withdraw the money as you see fit.

But to qualify for cashback under the new scheme, in any given month, you'll need to meet the following criteria in the PREVIOUS calendar month:

• Make 15 or more card transactions or Direct Debit payments. If you have a Chase debit card AND its credit card, the 15 transactions can be split across the two.
  
  Worried you'll struggle to hit 15 transactions? You could use MoneySavingExpert.com founder Martin Lewis' "banana trick" – buying a few low-cost items, such as bananas, in separate transactions to boost your count. Chase has confirmed there's no minimum spend required per transaction.
  
  AND...

• Keep at least £1,000 across one or more Chase savings accounts (this can't just be cash held in your Chase current account).
  
  Chase currently pays 2.25% interest on its standard easy-access savings, but newbies can boost this to 4.5% – one of the highest rates on the market. So if you're new to Chase, the improved cashback and 4.5% savings interest make it a strong option.
  
  If you're an existing Chase user on the standard 2.25% rate, keeping £1,000 with it might mean sacrificing a bit of extra interest you could earn with the very top-paying savings accounts elsewhere – but you might decide this is worth it for the cashback on your spending.

When to meet these conditions depends on when you joined Chase

• Been with Chase for more than 12 months? Meet the conditions in JUNE to qualify for JULY. After that, you'll need to meet the criteria on an ongoing monthly basis to continue earning cashback.

• Within your first year of joining Chase? Meet the conditions in JULY to qualify for AUGUST. Here, you'll get a two-month grace period before the new criteria kicks in. This is how it'll work...
  - May: You get your introductory 1% cashback as normal.
  - June: Your cashback rises to 2%, without you having to meet the new criteria.
  - July: You still get 2% cashback this month, but you also need to meet the new criteria in July to qualify for August. From August onwards, you'll no longer be able to earn ANY cashback without meeting the new qualifying criteria.

From 1 June 2026, Chase will no longer offer its existing 1% introductory cashback deal with no qualifying criteria. The only offer available will be 2% cashback if you meet the eligibility criteria.

This is an improvement on the current cashback offer – but eligibility may prove harder for some

The cashback rate is doubling, the monthly cap on cashback is rising, and you will be able to earn cashback across more spending categories, so Chase's new cashback scheme clearly offers customers a chance to earn more.

But there are now more steps you have to take in order to qualify for the cashback. Making a monthly £1,500 deposit will no longer be enough, and you'll now need to be able to maintain a balance of £1,000 in a savings, as well as making 15 card transactions or Direct Debits.

If you signed up to Chase less than a year ago (and you're still on the introductory cashback offer), you'll now also need to ensure you meet the new eligibility criteria from July onwards to continue earning cashback.

Plus, the move still doesn't restore the flexibility Chase customers had before the April 2025 changes. The new offer remains limited to UK spending within selected categories, rather than applying to most spending worldwide – as is offered by certain travel credit cards.

Chase has a higher cashback cap – but other accounts may suit you better

The £240 a year that will be available through Chase, if you max out the cashback each month, is one of the strongest direct cashback offers currently available.

But it won't be the best option for everyone. Other bank accounts offer lower annual cashback caps, but pay cashback on bills paid by Direct Debit, rather than everyday card spending. For example:

• Zopa Biscuit newbies can earn 4% cashback (which it recently boosted from its usual 2%) – up to a cap of £80 a year (there's no monthly cap) – on Direct Debits paid from the account for a year.

• Santander Edge customers can earn 1% cashback on selected bills paid by Direct Debit – capped at £10 a month, so £120 a year (though the account has a £3 monthly fee). Edge customers can also currently get a £30 Amazon voucher when applying via our link, in addition to the £180 switching bonus currently available.

You can also earn up to 5% cashback (maximum £125) with the top reward credit cards.