Out of the 224 credit cards available in the UK, new research from a finance group reveals that only 13 are still offering cash back on spending (non introductory) compared with 43 in 2005.

The average cash back rate is 0.52%. Instead of leaving card customers high and dry with no means to earn on their spending, the group is urging people looking for a card, to consider those offering reward schemes instead.

Stuart McKeggie, Head of Credit Cards said: "The number of credit cards offering cash back has fallen but there are cards out there offering great reward alternatives.

“Those that shop in Sainsbury's and use the Sainsbury's credit card, for example, can earn the equivalent of 2% cash back, well above the average cash back rate of 0.52%.

“People need to ask themselves what they need from their card and pick the right one for their wallet."

Recently, the retailer increased the 0% introductory period on purchases on its credit cards from three months to ten months and has reduced its typical APR from 16.9% to 15.9%, going against the current trend in the credit card market.