Chase user? Your cashback is doubling to 2% – but there are new hoops to jump through NOW to get it

Chase's cashback criteria has changed

Previously, to qualify for cashback with Chase, you had to pay a minimum of £1,500 into either your Chase current or savings account once per month. You could then spend or withdraw the money as you liked.

As of Monday 1 June, that minimum monthly pay-in requirement no longer applies. Instead, you'll need to meet the new criteria below in each calendar month, in order to qualify for cashback in the following 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. (Note that standing orders, refunds, bank transfers and other transactions don't count towards these transactions.)
  
  AND...

• Keep at least £1,000 across one or more Chase savings accounts continuously (this can't just be cash held in your Chase current account). Your balance needs to be £1,000 or more "each day for the entire calendar month", according to Chase's terms and conditions.

When the new criteria kicks in depends on when you joined Chase

Here are the key dates:

• Been with Chase for more than 12 months? You need to meet the criteria from Monday 1 June to start earning 2% cashback in July. After that, you'll need to meet the criteria on an ongoing monthly basis to continue earning cashback.

• Still in your first year with Chase? June is a grace period, but you'll need to meet the criteria from Wednesday 1 July to keep earning the 2% cashback in August. As of Monday 1 June, Chase is no longer offering its previous 1% introductory cashback deal with no qualifying criteria. This means...
  
  - In June: You can earn 2% cashback without having to meet the new criteria.
  - In July: You'll still get 2% cashback in July, but you also need to meet the new criteria in July to qualify for August.
  - From August: You'll no longer be able to earn ANY cashback without meeting the new qualifying criteria.

Qualify and you can earn more cashback than before

Though you now need to jump through more hoops to qualify, Chase has also improved its offer:

1. You'll be able to earn cashback on spending at most UK restaurants, cafes and takeaways (as well as on UK groceries, transport and fuel). The 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.

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

3. You'll be able to earn up to £20 a month in 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.

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, 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.

Check if other cashback accounts might 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.