Egg is reviving its cashback credit card for new customers on Tuesday, which gives you almost 1% back on everything you spend.

The Egg Money card, as it's known, also offers a refund if you buy an item on the plastic, and later find a retailer selling it for less.

It pays 1% cashback, but the catch is the card comes with a 1 monthly fee, which eats into any cashback earned.

Nevertheless, our research shows it is still the second-best cashback card available. The best is the American Express Platinum card, yet that is not always accepted.

Existing Egg Money cardholders earn a straight 1% cashback, and get the price promise, without any fee.

Cashback perks

For every 100 spent on Egg Money, new and existing cardholders receive 1 back, up to 200 per year.

With the new customer fee incorporated, someone spending 15,000 a year will make a 138 profit, equivalent to 0.92% cashback. On a 5,000 spend, the profit is 38, equivalent to 0.76% cashback.

The Amex Platinum pays 5% cashback for the first three months (maximum 100), then up to 1.5%.

With all cashback cards, you MUST pay them off every month otherwise interest costs will dwarf the rewards.

Price Promise

Egg Money cardholders can claim a refund if they buy an item for over 50, then find it cheaper within 30 days, within a 30-mile radius. They will get the difference between the two prices, though online purchases are excluded.

You can claim up to four items per year, capped at an annual 375 refund.

This is particularly useful during the festive period, where prices commonly fall fast after Christmas.

Dan Plant, money analyst, says: "It's great to see the return of Egg Money, especially as the cashback card arena has lost its oomph lately.

"However, the addition of a cashback-snaffling 1 monthly charge is a shame.

"The real boon is that it's a Mastercard, meaning anyone who uses the top-pick American Express cashback card can now get this as a back-up where retailers don't accept Amex.

"Once Christmas hits, the price promise is a handy weapon too, allowing you to keep costs as low as possible."

Further reading/Key link

Earn while you spend: Top Cashback cards, Cashback websites

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