Does a cash back credit card actually pay money in the long run, or is it just another term for advanced cash? Yes, you can actually get cash back for using a cash back credit card. However, you need to carefully research and investigate all the cards available to ensure that you apply for only the best cash back credit cards. In addition, in order for your cash back profits to not be eaten up by interest charges, it is wisest to pay off your balances every month to maximize the amount of cash back rather than larger amounts of cash paid out in interest charges and account fees.
How Much Cash Will You Actually Get Back?
The actual cash back is usually a percentage of your total purchases for one year or a specified time period. Sometimes there will be an offer to double your cash back percentage over a certain time frame. You will also find other offers for higher percentages for purchases at supermarkets, drugstores and gas stations. The actual percentage of cash back varies from 0.5% to 6.0%, depending on the cash back credit card and their policy on percentage for the type of items purchased.
Interest Paid Versus Amount Of Cash Back
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