Santander Edge Credit Card review
- Representative example:
- When you spend £1,200 at a purchase rate of 23.9% (variable) p.a. with a fee of £3 per month, your representative rate is 29.8% APR (variable).
- Foreign transaction charge
- 0%
- Earn rate
- 2p per £1 spent
- Interest-free each billing period
- Up to 56 days
Our verdict
Find out how to boost your cashback with this new credit card from SantanderHigh street bank Santander has added another personal credit card to its roster in 2024 - the Santander Edge. The big selling point of this card is the market-leading cashback, which is 2% on purchases in year 1 and 1% in year 2 and beyond. The maximum cashback amount you can earn is capped at £15 per month, which equates to £180 per year.
Unusually for one of the big high street banks, there are no fees for purchases made overseas, so you can use the Santander Edge to spend abroad and boost your cashback without incurring any extra charges. (Though you will still be charged a cash transaction fee of 3% - and a minimum of £3 - if you withdraw cash from an ATM abroad, the same as if you took money out in the UK.)
You can also add 3 additional cardholders to really help max out your cashback. However, they will need to be close family members who live at the same address as you, and you’ll still be responsible for meeting any payments on those additional cards.
One of the downsides of the Santander Edge credit card is that you need to be a Santander current account customer to apply for one. So, if you don’t already bank with Santander and don’t want to open a current account with them, this credit card is not for you.
There’s also a £3 per month fee to bear in mind (totalling £36 for the year), as well as the drop in cashback from 2% to 1% after the first year of having the card. However, the maximum monthly cashback you can get does remain the same at £15 - it just means you’ll have to spend £1,500 a month to earn £15 from year 2 onwards, compared to £750 a month in year 1.
The Santander Edge is not a 0% balance transfer card. If that’s what you’re after, there are different cards available from Santander and other providers that cater for that.
Pros
-
Get 2% cashback on purchases in the first year
-
Earn up to £15 per month cashback
-
No foreign exchange fees on purchases overseas
-
Add 3 additional cardholders
Cons
-
Exclusively for Santander current account holders
-
Cashback drops from 2% to 1% after the first year
-
Fee of £3 per month
Details
Product Overview
| Issuer | Santander |
| Network | Mastercard |
| Annual/monthly fees | £3 per month |
| Balance transfers | 23.9% |
| Balance transfer fee | 3% (min. £5) |
| Purchases | 23.9% |
| Purchases interest-free period | Up to 56 days |
| Cash advances | 29.9% |
| Minimum credit limit | £500 |
| Maximum credit limit | Subject to status |
| Additional cards available | 3 |
| Additional Rewards Info | Sign up for Santander Boosts to receive cashback, vouchers, offers and prize draws from selected retailers. Customer must be signed up to online and mobile banking to qualify. |
| Cashback details | 2% after £1 of monthly spend. 1% after £1 of monthly spend. Maximum of £15 cashback paid per month. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit. |
| Potential costs | 4.2 ★★★★★ |
| Doing its job | 4.8 ★★★★★ |
| Extras | 4.1 ★★★★★ |
| Overall Finder Score | 4.5 ★★★★★ |
Fees and charges
| Minimum monthly payment | 1% or £5 (whichever is greater) or the total of any interest, default fees and charges plus 1% of the outstanding balance plus any arrears. |
| Annual/monthly fees | £3 per month |
| Balance transfer fee | 3% (min. £5) |
| Foreign usage charge (EU) | 0% |
| Foreign usage charge (rest of world) | 0% |
| Cash advance fee | 3% (min. £3) |
| Late payment fee | £12 |
| Duplicate statement fee | £0 |
| Exceeding limit fee | £12 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application Requirements
| Minimum Age | 18 |
| Minimum income | £10,500 |
| Residency | UK Resident |
| Availability | Available to existing customers |
Santander Edge credit card features
- App. Use Santander’s mobile banking to manage your credit card.
- Control. Freeze and unfreeze your card if you think it’s lost or stolen
- Protect. Block certain transactions such as gambling, online, international and contactless, should you wish to
- Contactless. Pay for purchases of up to £100 using contactless
- Mastercard. This credit card is a Mastercard, which is accepted in more than 100 million places worldwide
- Cashback. Earn 2% cashback on purchases in year 1 and 1% in year 2 onwards, up to a maximum of £15 per month
The Santander Edge Credit Card is issued on the Mastercard network, so it's accepted at more than 50 million merchant locations across more than 210 countries and territories.
Repayment options
You can make manual repayments through Santander's app by logging in to your online banking or over the phone (0800 912 3123). Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) or losing any promotional rates as a result.
You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
| Minimum amount | Fixed amount | Fixed percentage | Full amount |
|---|---|---|---|
How to apply for the Santander Edge credit card
If you're an existing Santander customer and you've compared cards and settled on the Santander Edge Credit Card, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you'll need to make the process as straightforward as possible.
Who is eligible?
To apply for a Santander Edge credit card, you’ll need to:
- Have a Santander personal UK current account.
- Be aged 18 or over.
- Have an income of £10,500+ per year.
- Live in the UK permanently.
- Not already have a Santander Edge credit card.
Santander customer reviews
Santander fared well in the Finder Credit Card Customer Satisfaction Awards 2024, with 91% of its credit card customers saying they’d recommend Santander to a friend.
One customer commented: “It is accepted everywhere that I shop and offers rewards on grocery shopping and fuel.”
Another customer said: “Great for using abroad – no fees, good exchange rate.”
Key takeaway: Is the Santander Edge credit card any good?
This card is really designed for existing Santander banking customers who want to earn cashback from their everyday purchases. If this sounds like you and you can pay off your balance in full every month (so the interest charges don’t outweigh your cashback amount), then this credit card is worth a look.
If this card is not for you, compare others in our full guide.
How does it compare with other cards for overseas spending?
Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Moneyfacts.
Frequently asked questions
What credit limit will I get with the Santander Edge Credit Card?
If Santander offers you this deal, it will specify a personalised credit limit based on Santander's assessment of your situation. The minimum limit offered on this card is £500, and Santander does not specify a maximum. Once you've had the card for a while and shown Santander you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the Santander Edge Credit Card?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Santander Edge Credit Card is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250 and you'll incur a fee of £7.50.
The interest rate on this part of your balance will be 29.9% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
What is the minimum payment on the Santander Edge Credit Card?
Each month, you must pay at least 1% of your balance at that point or £5.00 – whichever of the 2 figures is greater. So if you had, say, £450.00 outstanding, you'd pay £5.00, and if you had £2,000.00 outstanding, you'd pay £20.00.
Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money, which can lead to persistent debt.
Can I request an additional Santander Edge Credit Card?
Yes, in fact, you can request up to 3 more. There's no fee for additional cards. Plus, with additional cards, you could earn cashback at a faster rate. Bear in mind that card debt accrued by additional cardholders is the sole responsibility of the account holder – not the additional cardholder.
What purchases can I earn cashback on?
You can earn cashback on your everyday spending, excluding the following: gambling, including internet gambling and buying lottery tickets; buying foreign currency or travellers’ cheques; withdrawing cash from a cash machine or over the counter at a bank; balance transfers and money transfers; Direct Debits and standing orders.
Can I add additional cardholders?
Yes, you can add 3 additional cardholders. They must be close family members who live at the same address as you. If the additional cardholder isn’t a Santander customer, then Santander may ask for their ID. Remember, you’ll still be responsible for the use of and payments on the additional cards.
Can I use the card abroad?
Yes, you can use the Santander Edge credit card for spending abroad and you’ll earn cashback on those purchases. You also won’t be charged any foreign transaction fee on your overseas spending. But if you withdraw cash from an overseas ATM, you will incur a cash transaction fee of 3% (min. £3), the same as if you took out money on the card in the UK.
Finder credit card scores
Our experts score travel credit cards to determine their value against similar products on the market. We look at a number of important factors, like the cost for non-sterling transactions, any caveats or restrictions related to using your card overseas, travel-related perks/benefits, plus the potential costs involved with running the card both in the short and longer term.
You can read more about our scoring criteria on our credit card methodology page.
Your reviews
