Sunday, December 4, 2011

How do cash back credit card really work?

I want a Chase Freedom credit card because it offers cash back and I tend to be spendy. How does cash back program really work? I mean do you have to spend a certain amount to get cash back or what's the deal?|||Yes, some credit cards you earn points everytime you use it. For every $1 retail, you earn 1 point (balance transfer or direct deposit are not eligible). Sometimes you earn 1% cash back, other credit cards you may earn 5%. Each card works differently. You can only redeem points starting at 2500 points with BOA. To redeem the points for cash, just call their customer service.

When you return the merchandize, the points will be deducted from your account.|||The cashback mentioned in the reward cards is usually the upper limit. The amount of cash that you will earn will always be less than the mentioned limit unless your spending levels with the credit card are very high. So, it will be better to have a reward card with high cashback limit.

Credit card companies have exclusive tie-ups with stores, vendors, filling stations, airlines, courier companies, hotels, resorts, hospitals etc. To get the benefits of rewards the spending has to be done at those very places mentioned in the credit card, otherwise the rewards might not get credited to your account.

Chase Business Rebate Card gives a 3% Cash Back for purchases at restaurants, gas stations, office supply stores, building supply stores, hardware and home improvement stores and 1% Cash Back on all other purchases.

Chase Free Cash Rewards(SM) Visa庐 Card gives a $25 check or a $25 gift card/certificate from participating merchants for every 2,500 points earned. Apply online at:鈥?/a>|||Yes, you can earn up to 3% cash back on purchases. And usually you will need to have made at least $50 in rewards to get cash back. Once you have done that you can request a check to be sent you your house. That's pretty much it. To apply for the Chase Freedom credit card or other cash back credit cards see鈥?/a>

good luck

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