ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Cash Reward Credit Cards - Getting Paid to Spend

Updated on January 27, 2020
Nicoartz profile image

I have done a lot of SEO content writing for websites; thus, I have done a ton of research about loans, credit cards, and consolidation.

Cash Back From Credit Cards
Cash Back From Credit Cards | Source

Cash Reward Credit Cards - Getting Paid to Spend

If you’re in two minds of whether to buy that expensive dress or not, don’t worry because cash rebate credit cards actually pay you to spend. You can purchase items at grocery stores, drugstores, restaurants, auto-pay to manage bills, travel and vacations and in return these credit cards give you cashback. It’s almost an impetus to spend!

Rebate Percentage and Who is it Best for?

The rebate percentage offered is different depending on the credit card company. However, in general, the rate ranges from 0.5% to even 2%. Also, the rebate percentage applies to a certain range of purchases made. For example, there are slots such as 0 to 2000 dollars, 2000 to 4000, 4000 to 6000 and so on.

Credit cards that offer a rebate provide a great way to shop and earn too. However, this only helps if you have been regular at paying off your outstanding balances. Every month, all accumulated balances need to be paid off in full. Else the entire scheme fails. Instead, you might end up accumulating even more debt.

Qualifying for Cash Rebate Credit Cards

Usually, credit card companies offer cash rebates to people who have a good credit history and always pay on time. Also, if the credit history of a person is weak, then chances are the default interest rate will be very high. Nevertheless, it is best to go for a card with a 0% APR. That way, at least purchases are not subject to interest rates.

Types of Cash Back Credit Cards

There are several types of cashback credit cards:

  • The ones that accumulate reward points
  • Frequent flyer miles
  • Subsidies on petrol and gas

Cashback vs. Cash Rebate Credit Card

Nevertheless, please keep in mind that a cashback credit card is different from a cash rebate credit card. In case you’re wondering, a cashback credit card is one that can either accumulate reward points for shopping, frequent flyer miles or even subsidies on gasoline, etc. However, a cash rebate credit card is one that only gives you cashback. Therefore, it is different from a cashback card.

Automatic Cash Rebate Credit Card

Sometimes you may need to ask for the cash rebate from the credit card and in some cases, the company automatically credits the amount to your account. However, this depends on the policy of the credit card company.

Tracking it Online

Cash rebate credit cards come with a handy feature – of being able to track cash accumulated online. This makes it easy to know how much you’ve spent and how much you’ve earned as a result.

Paying your bills gets so much easier with an online facility. No more rushing to the bank! If needed, you may entrust a person to manage your account apart from any additional cards you may have got. Any theft of the card needs to be reported to the credit card company immediately. Soon after, the card will be blocked by the bank to prevent any further usage. Most credit card companies have a fraud detection system in place – let's say your card account is encountering unusually high purchases. The bank might suspect fraudulent transactions. Therefore, they will typically contact you to confirm if you have performed these transactions or not.

Therefore, safety features are always built into these credit cards thus enabling customers to shop hassle-free and smoothly.

Use it Responsibly

A cash rebate credit card can often tempt a person into spending more. After all, that’s what credit card companies want – you to spend more. Therefore, while using cash rebate credit cards, be sure to exercise caution and use them judiciously.

Who are Cashback and Cash Rebate Cards for?

Cashback and Cash Rebate cards are for everyone who needs access to a line of credit. As the world continues to move towards digital transactions and democratizing currency, fewer and fewer people are using cash to pay for goods. Credit cards are essential to building long-term credit to allow expanded purchasing power in the future, given that they’re used responsibly. There is typically no difference between a card that pays Cashback and those that provide zero-return. If you’re going to be making purchases on your credit card, there is no reason NOT to choose a Cashback or Cash Rebate card. You’ll be missing out on free money!

Final Thoughts

If used irresponsibly, any Credit Card (cashback, cash rebate, or standard) can have a long-term impact that could hurt your ability to borrow or (more likely) result in extremely high-interest rates when opening a new line of credit. On the flip side, they can be very good if they are used wisely. The evil or good of things are not in the cards themselves, but rather in how you choose to use them. Quick example, I use the auto-pay system for most of my bills. Everything will go onto the credit card. I will then basically have one bill to pay by the end of the month. I will then pay that credit card in full, thus avoiding any interest charges. The credit card gives me points for every dollar spent. So, I very easily and quickly accumulate points. These points can then be cashed in for actual cash, or if I choose gift cards (amazon, home depot, etc.). So, you can see how quickly I can make money just from using credit cards.

This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.

© 2020 Jason Nicolosi

Comments

    0 of 8192 characters used
    Post Comment
    • Nicoartz profile imageAUTHOR

      Jason Nicolosi 

      2 months ago from AZ

      Alyssa, thank you so much for taking the time to read my article and comment. I really appreciate the positive feedback.

    • Alyssa Nichol profile image

      Alyssa 

      2 months ago from Ohio

      This is very informative and you give great tips! I like your idea of auto-pay for bills and then paying the one credit card bill at the end of the month.. basically, getting paid to pay bills -- brilliant idea!

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://maven.io/company/pages/privacy

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
    ClickscoThis is a data management platform studying reader behavior (Privacy Policy)