How Cash Rewards Credit Cards Work
So you’re still paying with cash for most things, huh? It’s time to wake up and smell the dollar bills – you’re missing out on some serious rewards. Using a cash rewards credit card for your daily spending is one of the easiest ways to earn money back just for buying the things you normally would. Think of it as a discount on everything you buy. By ditching cash and using the right card, you can earn hundreds of dollars a year in cash back to spend on whatever you want. The money is yours to keep – no points or miles to redeem, just cold hard cash deposited straight into your account. Keep reading to find out why you need to stop paying with cash and start earning cash back today. The money you’re leaving on the table will shock you.
Top Benefits of Using a Cash Rewards Credit Card
Cash back credit cards give you money back for the purchases you make every day. Here’s how these cards work:
How Much Cash Back Can You Earn?
The amount of cash back you earn depends on the type of card you have. Many offer 1-2% on all purchases, while some provide higher rates for certain bonus categories like dining, travel, or gas. The more you spend, the more you earn.
Redeeming Your Cash Back
Once you’ve earned enough cash back, you can redeem it for statement credits to offset charges on your bill, gift cards to your favorite stores, or cash via check or direct deposit. Many cards have no minimum redemption amount, so you can redeem whenever you want.
Double Cash Back Promotions
To attract new cardholders, issuers frequently run promotions offering double cash back for a limited time, usually 6-12 months. This allows you to earn cash back twice as fast. Be on the lookout for these lucrative deals and take advantage of them when you can.
Additional Benefits
The best cash back cards provide other useful benefits like no annual fee, fraud protection, extended warranties, and travel insurance. Some also offer sign-up bonuses worth $100-$500 cash back if you meet a minimum spend requirement within the first 3 months.
Using a cash back credit card for your daily purchases is an easy way to earn money back without changing your spending habits. Over time, the cash back you earn can really add up and pay for things like a nice dinner, tickets to a show, or even a vacation. Why pay with cash when you can get paid to pay with credit?
The Best Cash Back Credit Cards of 2023
Using a cash rewards credit card is one of the easiest ways to earn money back on the things you buy every day. Here are the top benefits of ditching cash and using a rewards card instead:
Earn Cash Back on Purchases
With most cash back cards, you earn a percentage of your purchases back in the form of cash rebates. The more you spend, the more you earn. Some popular cards offer 2-5% back at restaurants, gas stations, grocery stores, and other places you frequent. Over time, those small percentages can add up to hundreds per year in cash back.
Redeem Your Rewards Easily
Cash back is simple to redeem. You can get statement credits, gift cards, or direct deposits into your bank account. Some cards let you redeem as soon as you earn $25. The flexibility and instant gratification of cash back is appealing to many.
Special Bonuses and Promotions
Many cash back cards offer sign-up bonuses like $150 back if you spend $500 in the first 3 months. They also run special promotions throughout the year with bonus rebate rates at certain stores or for certain types of purchases. With a little savvy spending, you can maximize these time-limited offers.
Fraud Protection and Extended Warranties
Cash back cards provide the same fraud liability and purchase protections as regular credit cards. Things like $0 fraud liability, extended warranties, price matching, and return guarantees give you confidence and security when shopping.
Using a cash rewards card for your daily spending is an easy way to earn money for the things you’re already buying. The cash back and other benefits add up over time and are an effortless way to save hundreds per year. Why not earn while you spend?