If you have a Barclaycard, you may be eligible for a hidden cashback deal that the bank is not telling many of its customers about.

I understand that when customers are threatening to cancel their Barclaycard and close it down, they are being offered cashback deals of two to five per cent, lasting three to six months.

Cashback is when you get paid back a proportion of the amount of money that you spend on the card. So, at two per cent cashback, you spend £100 and get £2 back.

So, if you do not really need your Barclaycard, why not call them up, threaten to cancel and see if you are offered it? If that’s a bit too drastic, call them up anyway, tell them you have heard that friends have got this deal and ask them to match it or say you will consider cancelling it.

However, if you have debts and need your Barclaycard, then do not go playing games with it, because having a credit facility in the current market is far more important.