What are cash rebate credit cards?

Woman Makes Money From Credit Card Cash RebatesCredit cards can be used to earn rewards for just using the card. There are credit cards out there that reward you with airline miles or points for using them. Cash back card options give users rewards in the form of cash. Cash rebate cards are a good choice if you use credit cards often. If you are going to use it, you might as well be rewarded for doing so.

Reward yourself now! Find a cash rebate credit card by using the free credit card chaser tool at the top of the page!

Credit cards have many uses as financial tools. Some people save them just for emergencies, and some people have an “emergency” need for new shoes every other day. Credit card scan be used:

  • To help or hurt your credit rating
  • Online
  • To buy just about anything you want

How do cash rebate cards work?

Cash rebate cards reward customers with what is called “cash back” on purchases. Typically, the credit card company pays back a percentage on the total amount charged on the credit card every month. Cash back rewards are only given once for every purchase, so your rewards will not increase if you continue to carry the balance for a purchase on a credit card month after month.

How much cash back can be earned?

Each reward program will have different percentages that can be earned. Typically, cash back percentages will be from 1% to 5%. Therefore, a $100 purchase can earn a user from $1 to $5 back.

The amount given back by the company will also be determined by how much is spent. Periods of high credit card use, such as around the holiday season, will garner much more cash back than other times of the year. Cash rebate cards really start to create large reward amounts with high use or high-dollar items.

Also, as the credit card companies continue to up the rewards in an effort to attract customers, some cards offer a one-time high-dollar bonus for signing up.

Are there any fees?

Fees are one way that credit card companies make a profit, so most cash rebate credit cards have similar fees to traditional credit cards. They might have annual fees, a sign-up fee, or fees for certain transactions such as balance transfers and cash advances.

They will certainly have late fees, over-the-limit fees and an interest rate, just like traditional credit cards. Recent legislation from the Credit CARD Act of 2009 has limited the amount of fees a credit card company can charge. Credit card companies also have to be upfront about all the fees associated with a particular credit card plan. Understanding all of the fees associated with any credit card is necessary to use the card without getting into financial debt.

Are there any exclusions?

As in anything, some restrictions will apply. Each reward program will have its own limits and exclusions that should be compared before you sign up for the card. Common limits or exclusions could be a maximum annual cash-back amount, restrictions on purchases or a set length of time that a percentage of cash back can be earned.

For instance, you might only get cash back for gas purchases and nothing else. Alternatively, you might get 3% cash back for the first month, and then the percentage falls to 1%. The fine details of the offers need to be read and fully understood before you sign up for any credit card.

How do I know if the credit card company figured my cash back correctly?

Unfortunately, most credit card companies do not provide an itemized list of customer rewards on a monthly credit card bill. It is common complaint, according to an article on Smart Money.com. It is not a complaint that is likely to be addressed anytime soon by government legislation. However, the article continues, most credit card companies will go over the rewards earned if a customer calls in to request it

Where can I compare cash rebate credit cards?

A good way to get the best deal in just about anything related to money is to comparison shop. Researching the fees, interest rates and terms are the best way to find the best credit card to fit your needs. A credit card comparison website, such as this one, provides all pertinent information about the cards as well as links to apply to the right one for you.

Remember, knowledge is power, and in this instance, power equates to a whole lot of cash back!

Use your knowledge to get the best cash rebate credit cards! Research multiple cards by using the free credit card finder at the top of the page now!

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Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!