The next time you go to the store, and use your credit card, you may want to think about getting rebates when swiping your card. Whenever I head into a store, what I find what a lot of people do is simply swipe their card that has no rewards on it at all. You pay the bill, and you get nothing. Great! This is what the credit card companies want you to do, it’s one less reward that they have to give out.
What is a cash back card?
A cash back card is a credit card, but you’re going to get rewarded based on the card that you applied for. For example, say you spend a lot of money on clothing, and grocery shopping each, and every month. You’ll want to find a card that rewards you in those categories. What you’ll find out is that a lot of cards will reward you in everything, but a lot in one category.
For example, let me show you how one card works. Let’s say that your card gives you 3 back on groceries, clothing, and gas. Every time you spend your card at those establishments, you’re going to either get 3 of your money back, or potentially 3 times the points. It will all depend how your card works, but what you’re going to find out is that it works the same way in the end regardless.
What should I look out for?
There are a few things that I would look out for when you apply for a card, or you start to do your hunting. The first one is fees. A good card isn’t going to have an annual fee. If it has an annual fee, the only way it’s going to be worth it is if you spend an insane amount of money each and every month, but I highly doubt it. The only ones that generally take advantage of these deals are the ones the work for big corporations, or spend $50,000+ a month. If you fall into that category, then don’t worry about fees!
Next, make sure that you get the right rewards. You want to make sure that you can get the most out of every dollar that you spent. This is why you should compare at least 5 different cards. You wouldn’t go out, and purchase a house without looking, would you? The same is going to go with anything in life. Always make sure you know what you’re getting, and make sure you know what kind of rewards that you’re going to get yourself into.
Even in a down economy, and a good one, there will always be reward cards. The banks will always compete, and they will get you to do anything to sign up for a card. Get out there, and start doing your homework. As long as you know what you want, and look at a few cards that are of interest of you, you’re going to find that you can start getting rebates on a lot of things that you purchase.
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