In this episode we pull apart five cards advertising up to 10% cashback — Krak, Nexo, Wirex, Plutus and Bybit — to see what those headline rates actually cost you.

We're not recommending any of them; this is a discussion of where the numbers fall apart once you read the tiers.

• Krak (Kraken) — up to 2%: the only card here with real EMI protection, but 2% needs £50k parked on the platform. The one that's arguably "boring but legitimate."
• Nexo — up to 2%: spend against your crypto without selling it. Clever idea, but the top rate is paid in NEXO and UK users earn nothing.
• Wirex — up to 8%: three plans, nine tiers, and a 7.5-million-token lockup for the headline rate. Paid in WXT.
• Plutus — up to 9%: perks that refund your subscriptions, buried under a level system you'd "need to be a mathematician" to follow — and ~£4,000 of PLU to unlock the top rate.
• Bybit — up to 10%: requires up to $500m of trading volume in 30 days… for a reward capped at 600 USDT. The biggest number pays the least.
• The real lesson: every big rate hides one of three catches — pay a subscription, buy their coin, or park a fortune with them. And no card here is FSCS-protected.

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Jan: https://www.linkedin.com/in/jan-watermann/

Jonny: http://www.linkedin.com/in/jonny-pease

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