A
cashback card is a type of credit or debit card that gives you a small percentage of your purchases back as cash rewards, which you can use to reduce your future expenses or receive as actual money.
Full definition
I'm not a big fan
of cashback cards because of the relatively small rebate % as well as the multitude of conditions attached.
There are a lot of great no - annual -
fee cashback cards available, so there's sure to be one to fit your spending habits.
That equals the best fixed - rate
cashback cards on the market, and they don't offer 10 percent bonus categories.
The downside of
most cashback cards is that you only get their rewards at the end of each billing cycle.
That's better than any
other cashback card on the market, and the card's free to hold since there's no annual fee.
But if you want a
great cashback card that you'll keep in your wallet for years to come, this could be it.
Strategies to maximize cash - back rewards — Most
cashback cards pay about 1 percent in rewards; a couple of cards pay a flat 2 percent.
Besides the travel rewards cards and
cashback cards issued by popular banks, many stores also have their own credit cards and rewards programs.
Many
cashback cards do not have an earning limit, so the more you use the card, the more you will earn.
Whether it's a
double cashback card or any other credit card, there's one more potentially valuable benefit you should think about before you start applying.
If you find a
regular cashback card that earns more rewards, you can always use the cash back you earn toward a cruise.
There are also some good fee - free, near - cash reward cards which come close to
what cashback cards can offer.
You can still take advantage of up to 5 % cashback from certain credit cards if you are looking for a high
percentage cashback card.
There are also many
cashback card issuers that will allow you to redeem for gift cards and make donations to charity.
The number one thing to consider when looking for a
new cashback card is how much you're going to earn.
If you do hit that limit, though, I recommend getting a
second cashback card that offers bonus earning in the same categories.
In general,
cashback cards typically don't offer much in the way of airline - specific benefits or extra perks when you're actually traveling.
So think of this as a 5 - 10 %
cashback card for shopping (bags, clothes, shoes) only.
This is one of the
best cashback cards in the market that can help you save on your meals and your transportation.