Get Money Back For Using Your Credit Card

By: Sue Hunt

Cash Back credit cards are a great idea. There are a lot of different reward systems available today for credit cards, but by far the best reward you can get for using a credit card is to have a bit of the money you spend returned to you - in the form of money, too. When looking at a credit card to get, try looking for one with a cash back reward system. There are a lot of these out there, and to help you sort out the mes, here are a few things you may want to remember when looking to make sure you get the best deal you can:

Cash Back return rate - look at the rate of returns that the cash back system offers. Usually, the amount of money you get back is based on a percentage of the amount spent on purchases using the credit card, or on a certain amount of points that are earned whenever you use the card, that can be converted to cash. The higher the rate, the better the amount you get in return. Find a cash rebate system that gives you the most value for your expenditures. Also look at the method by which the cash rebates are given - is it given as additional credit on the card? Will a check or actual physical money be sent? Basically, what will you have to do to get your rebates? Pick a credit card provider whose rebate system will be convenient for you.

How do you earn the points for return? - this is a pertinent question. Obviously, you have to make purchases using the credit card to earn the points you'll need to get a cash back rebate. It doesnt stop there, however. Look at the point system being used by the credit card provider. Some providers, for example, give a direct percentage back from amounts spent on purchases made though the card. Others, however, also offer a point earning system where a certain number of points can be traded in for money. In the case of a point accumulation system, look at the rates being offered and make sure you get the best one to suit your needs. Some, for example, give money rebates in direct proportion to the amounts spent, while others give higher rates when more points are accumulated, for those who want to think long-term for their rebates. Also check to see if the points in the credit card's rebate system have an expiratin date, or if the points stay active as long as the card does too. These factors have to be considered when looking for a credit card with a good rebate cash back system. Balance the point system's requirements with your personal spending habits and make sure they match. After all, if you're the type of person who only uses a credit card in emergencies, a card with a high rate of rebate but that requires you to spend a lot every month will be useless. On the other hand if you're a shopaholic with a good credit record, such a system would be perfect...

Additional rewards - aside from cash rebates, some credit card providers offer added features withtheir card's rebate systems. Look for one that fits your needs. Some examples are airline miles rebates or hotel rebates, for those of you who travel a lot. Then there are gasoline and grocery rebates, for general consumers. These are just afew of the more common examples. If the card's rebate system is not only convertible to cash, but can be applied to things that you will generally find useful, it's a very convenient bonus to watch out for.

Credit Card Rates - aside from the cash back system of the credit card, look at the main features of the credit card; make sure you get one with a reasonable interest rate and a credit limit that will suit your personal spending habits. Also look for additional fees that may be involved with the card's upkeep - annual fees and the like. Some credit card providers also give interest free introductory periods, usually covering 6 months to a year, wherein any purchases made with the credit card don't incur any interest. Cash back systems are all well and good, but make sure that the rest of the card fits you, and has features that will give you the most for your money.

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