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Earning cash back on your regular spending is a fantastic benefit. When credit cardholders try to maximize the amount of money they receive, they have a nearly endless choice of credit cards to apply for. Among these cash back reward credit cards are those that offer fixed reward rates on all spending, as opposed to those that offer varying rewards depending on the category of merchants, and even the time of year. Although these varying reward rates can be attractive, there are distinct advantages to earning rewards year round at a fixed rate.

Cardholders frequently choose to earn cash back rewards instead of loyalty points because of the simplicity and flexibility that cash offers.

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Some comparison websites and lenders are offering customers ‘soft’ credit searches when applying for loans and credit cards. These promise to not leave a footprint on your credit rating but how do they work? And are they reliable?

Whenever you make an application for a credit card or loan it leaves a mark on your credit score.

Applications typically make up about 10 per cent of your credit score so making a large number of applications can have a negative impact on your rating.

James Jones of credit reference agency Experian says: ‘Every application that is made leaves a footprint on your credit report. If youre making a lot of applications in a short space of time then this can have a negative impact on your score.’

However, some comparison sites and lenders have introduced a ‘soft’ check feature to give customers an indication if they’re likely to get accepted for a product.

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