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      August 14, 2020

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The Benefits of Cash Back Credit Cards

 

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The Benefits of Cash Back Credit Cards

With cash back credit cards you receive something for nothing - that sounds like a pretty good deal right? Cash back credit cards give you a bonus for spending money. Cash back credit cards gained popularity after airlines offered cards with “bonus miles.” Now, most credit cards offer some type of reward program - often in the form of a cash back bonus. We all have to spend money on bills, groceries, gas and other essentials. By using a cash back credit card with these purchases, you are receiving money back for items you are already spending money on.

Cash back credit cards work best for those that pay off their balance in full each month. By doing this, you will not pay any interest on your purchases (which is often high with cash back cards) while receiving all the benefits of your rewards. You are essentially getting free money.

Most cards offer anywhere from 1%-5% cash back rewards, depending on what you are purchasing. That is like going to a store and getting 5% off with every purchase. On average, most users receive about 3% back on each purchase. Often, many users get credit cards for their family members to optimize earnings. If you and the members of your household use cash back credit cards on all your purchases, it would add up to a significant amount over the course of the year. Many businesses can also use cash back credit cards and can reap the same benefits and savings each month as well.

There are many benefits to receiving cash back every month. If the rewards come back as a statement credit, then you have reduced credit card bills each month. Other cards send your reward in the mail and can use it to spend it on whatever you want - this could be your vacation or entertainment money. You might feel you have the freedom to use your cash back rewards on items you wouldn’t ordinarily purchase with your hard earned money.

Credit card users have been down recently and many companies have been offering great rewards for new users. There are many different options out there to choose from. You can find one that best supports your spending habits.

Cash back credit cards are one of the best types of credit cards to choose because you earn a portion of the money you spend back and you have the freedom to choose to do what you want with the bonus cash. They are easy to use they offer many benefits to consumers that research and select credit cards that fit their lifestyle. The savings can be significant and costly charges can be avoided if the consumer makes payments promptly and in full each month.

The pandemic cured my fear of credit cards - and helped me net over $150 in cash-back rewards

After getting out of a minimum-payment cycle she'd been stuck in for years, the author swore off credit cards - until COVID-19 changed her mind.

Published:  Wed, 12 Aug 2020 13:12:00 GMT



The Best Cash-Back Credit Cards, According to Experts

The concept of a cash-back credit card is fairly simple. As Erin Lowry, the author of the personal-finance book Broke Millennial, puts it: "If you make a purchase for $100 and it's a 5 percent ...

Published:  Wed, 05 Aug 2020 15:51:00 GMT



Why I'm Joining Millions Of Americans In Canceling My Airline Credit Card

Moe than 40% of Millennial and 30% of all respondents say they have canceled a travel rewards credit card during COVID-19.

Published:  Thu, 13 Aug 2020 17:21:00 GMT



Better Together: The Best Points-Boosting Credit Card Groupings for Under $100 Per Year

Sometimes two (or three) is better than one. While some enjoy the simplicity of just having one go-to credit card, those who don't mind a little complexity can amplify their point earnings by adding ...

Published:  Thu, 13 Aug 2020 04:13:00 GMT



Best credit cards for back to school shopping

CNBC Select analyzed a variety of credit cards that can help you optimize back-to-school shopping for electronics, supplies, clothing, groceries and more.

Published:  Sun, 09 Aug 2020 11:00:00 GMT



Online bank HMBradley has a new cash-back card with customizable rewards, but you need a corresponding deposit account to apply

You'll earn up to 3% cash back, based on where you spend the most each month. Just keep in mind you need an HMBradley account.

Published:  Wed, 12 Aug 2020 11:28:00 GMT



4 Wallets That Can Help Protect Your Credit Cards From Getting Hacked

Few pieces of personal information are as valuable, literally, as your bank and credit card accounts. You can keep them safe online by using a strong password on your bank's website, but your physical ...

Published:  Wed, 12 Aug 2020 10:26:00 GMT



Best airline credit cards for August 2020

For those who love racking up airline miles with their favorite carrier and wish they could take some of the hassles out of flying, airline credit cards are enticing. These cobranded cards -- offered ...

Published:  Tue, 11 Aug 2020 06:22:00 GMT



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