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The Benefits Of Cash Back Credit Cards

By Eva Norlyk Smith, Ph.D.
May 22, 2009
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It is said that there is no such thing as a free lunch, but cash back credit cards come pretty close to fitting the bill. These cards, which pay you a percentage rebate on the money you spend on the card, can earn you enough money during the course of a year to pay for a month’s worth of free lunches or even a weekend get-away for you and your family.

If you use a cash back credit card for most of your purchases and routine expenditures, you can accumulate several hundreds of dollars in savings over the course of a year. Not bad pay for doing nothing other than simply using your card.

A cash back credit card typically will offer a 5% cash back on purchases at supermarkets, drug stores, and gas stations and 1% on all other purchases. However, there are numerous variations on the specifics of these programs, so it pays off to do your homework to make sure you get the best possible card for your needs.

A cash back credit card is an option to consider only if you pay your credit card balance in full every month. If you keep a balance on your card, look instead for cards that offer the lowest interest rate.




5 ways to maximize cash-back rewards - Cash-back cards are often advertised as a low-fuss rewards option, yet fine print can dilute your rewards. Follow these five tips to boost your card's benefits.

What's the best way to redeem cash back? - Ready to redeem your rewards? Most cash-back credit cards offer an array of redemption methods, and it can take some legwork to find the one that offers the most bang for your buck

Card-Linked Offers: An Easier Route to Rewards? - If you love discounts and deals, take note: Issuers and retailers are experimenting with card-linked offers to more seamlessly reward consumers



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