Barclaycard has called time on its partnership with American Express meaning that almost 500,000 loyal customers will lose out on its 1% credit card cashback deal.
The Amex card will be replaced by a Visa card offering a much less desirable 0.5% cashback.
These cards were given to existing Barclaycard customers many years ago. They will automatically be given the new Visa.
A Barclaycard spokesperson said: "As a result of regulatory developments in Europe, American Express is discontinuing its network licensing arrangements. As the Barclaycard Cashback card is issued as part of one of these, it is being withdrawn."
There's talk of rival banks following suit, such as Lloyds, but we'll just have to wait.
Should you switch to a new cashback credit card altogether in the meantime? Let's take a look at the competition.
Asda Cashback Credit Card
You can also get 10% cashback when you take out selected Asda Money insurance products using the card.
As soon as you have £2.50 in cashback you can download or print a voucher to spend in Asda stores or leave it to let it build up on the card.
The card also offers fee-free transactions on foreign currency from Asda Travel Money, 12 months 0% on balance transfers (3% fee) and six months' interest-free on all George.com purchases of £200 or more.
The card comes with a representative APR of 19.9%.
Asda Cashback Plus Credit Card
The Asda Cashback Plus Credit Card pays a juicier 2% cashback on all Asda spends, 1% cashback elsewhere and 10% cashback on Asda Money insurance products.
Again as soon as you have £2.50 in cashback you can download or print a voucher to spend in Asda stores or leave it to let it build up on the card.
The card also offers fee-free transactions on foreign currency from Asda Travel Money, 15 months 0% on balance transfers (3% fee) and six months' interest-free on all George.com purchases of £200 or more.
However, the card attracts a £3 monthly fee, so you'll need to make sure you can earn enough to make the card worthwhile.
The representative APR for this card is also 19.9%.
American Express Platinum Cashback Everyday Credit Card
Despite the negative press, Amex cards are still among the best out there.
With the American Express Platinum Cashback Everyday Card, you'll still get 5% cashback in the first three months up to a maximum of £100 – in other words you'll need to spend £2,000 during that period to get the top amount.
After that you will earn a tiered rate of cashback depending on how much you spend. You'll get 0.5% on the first £5,000 and 1% on all sums above that.
There's still no annual fee on the card, however, and the APR remains 22.9%.
American Express Platinum Cashback Credit Card
The American Express Platinum Cashback card pays 5% cashback in the first three months up to a slightly higher maximum of £125.
You could get a flat cashback rate of 1.25% on all of your spending after that and Amex pays 1% cashback on the first £10,000 worth of spending each year.
Note you'll need to spend a hefty £10,000 in the previous year to qualify for this rate and 1.25% for anything over £10,000.
There is also a £25 annual fee to take into account, and the APR is 28.2%.
Nationwide Select Credit Card
Elsewhere, the Nationwide Select Credit Card offers a flat rate of 0.5% cashback on all purchases made in sterling.
On top of that you can get 0% on purchases for 12 months, free 0% on balance transfers for 12 months and unlimited commission-free purchases abroad.
The card has a representative APR of 15.9%.
Santander 123 Credit Card
The Santander 123 Credit Card pays 1% cashback on supermarket spending (up to £300), 2% in department stores (up to £150 a month) and 3% on petrol or train fares (up to £100 a month). The amount of cashback you can earn each month is capped at £9.
On top of all that the card also boasts a 23-month 0% period on spending. And there's a 23-month 0% period on balance transfers as well if you need it, with no transfer fee.
There is a £36 yearly fee, though.
NatWest/RBS Reward Credit Card
It pays 1% cashback on all spending at supermarkets (0.5% at their petrol stations), while you'll also get at least 1% at MyRewards partner retailers (including the likes of Ernest Jones, BP and New Look). You get 0.5% cashback everywhere else when you shop at home and abroad.
On top of that you'll earn 10% in rewards (up to £25) when you spend online at Zara, TopShop, ASOS and more. The offer is only available during June 2017. The representative APR is 23.7% and the card has an annual fee of £24, but you can get it free if you have the Reward, Reward Silver, Reward Platinum or Reward Black current account.
Making the most of cashback cards
To make the most of your cashback card, put as much of your spending on it as you possibly can but always clear the balance at the end of the month. Setting up a direct debit payment to do this is the easiest way to make sure you don't have to pay any interest charges.
As with any credit card, using it will give you the legal protection offered by Section 75 of the Consumer Credit Act 1974.
In addition, never use these credit cards to withdraw cash. The charges are horrendous and your withdrawals won't qualify for cashback. Balance transfers also aren't eligible for cashback.
If you'd prefer rewards to cash, such as Nectar points or Avios, a reward credit card is a better option.