Chase is boosting its cashback to 2% and expanding where you can earn it – though you'll need to jump through more hoops to get it

You'll be able to earn more cashback on spending

From this summer, Chase is making the following improvements to its cashback offer – though exactly when you can benefit depends on when you joined Chase:

• You'll be able to earn cashback on spending at most UK restaurants, cafes and takeaways. These new categories include independent and chain restaurants and cafes. Restaurants or cafes that are owned and operated by a venue are likely to be excluded. It also includes takeaways from restaurants and delivery services.

• 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.

But you'll need to jump through more hoops to earn the cashback

Currently, you need to meet the following criteria in the previous calendar month:

• Pay in a minimum of £1,500 into either your Chase current or savings account. You only have to do this once each month and you can then spend or withdraw the money as you see fit.

Under the new scheme, 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.
  
  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).

When you can earn the boosted cashback depends on when you joined Chase

• Been with Chase for more than 12 months? You can earn 2% cashback in JULY if you meet the criteria above in JUNE. 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? You can earn 2% cashback in AUGUST if you meet the criteria in JULY. From 1 June 2026, Chase will no longer offer its existing 1% introductory cashback deal with no qualifying criteria. If you're currently in your first year with Chase, 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.
  - August onwards: You'll no longer be able to earn ANY cashback without meeting the new qualifying 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, such as making 15 card transactions or Direct Debits.

A monthly £1,500 deposit will no longer be enough, as you'll need to be able to keep a minimum balance of £1,000 in Chase savings across the whole month.

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 April 2025 when it restricted its cashback offer 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 – as is offered by certain travel credit cards.

Chase has a high 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.