Cash Back Credit Card – How Does It Work?

August 10, 2010 by  Filed under: Credit 

Anyone that has a credit card should have one that does work for them.  It should be a convenience and rewarding at the same time.  If there is no reward for using it, we might as well just use a debit card.  Although, if we can get something out of it, it may be worth using.

Today, credit cards can be very beneficial and very rewarding.  There are cards that allow you to redeem your points for gift cards, get you free flights, have high credit limits and ones that give you cash back for every purchase you make.

Have you ever heard of a cash back credit card?  If not, these are my favorite because I find their rewards the most beneficial.  How do they work, and why are they so nice to have?  Continue reading below to find out!

When you get a cash back credit card, you will want to take a good look at the rewards you get.  You will find that some will give you more money back on certain purchases that you make.  So, for example, if you have this card, it may give you 5% back on your gas purchases and 2% on everything else.  Although, you may find that it gives you 10% back on all online purchases while 1% back on everything else.

It is important to see what you get your money back on that way you can take full advantage of the rewards!  So, once you find out what you get money back on, you will want to use it just like any other credit card at the store.  Once you use it, it will show up on your statement online what you bought and how much you spent.  And then at the end of the month, once you’ve paid your bill you will get redeemed some money.  This amount is determined by how much you spent, and what you bought.  Once you have enough money in your account, you will be able to cash it in, or get gift cards!

Cash back cards are great!  There is nothing better than saving money on every single purchase you make!  This can add up to thousands each year!  For example, if you spent $5,000 on your credit card this year, and your cash back is 2%, you will get back $100!  Any money that we get back should be taken!

Find the best Cash Back Credit Cards at FindCashBackCards.com, as well as more of my work.

Article Source:

http://EzineArticles.com/?expert=Tom_Tessin

Tom Tessin - EzineArticles Expert Author

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