Credit Card Cashback

  Written By: Chip Rudolph ~ 8/21/2023

Many people live paycheck to paycheck or on a very tight budget. Here are tips on ways to save money when there is no spare money to save. Because of illness, homelessness, worldwide strife, or financial difficulties, saving money is sometimes impossible. The following are some suggestions.

Please note that credit cards are not meant for you to live beyond your means. They are a form of payment that:

• is efficient
• keeps records in one place
• saves time when shopping
• allows a variety of protections

Credit card companies use many offers to attract customers. One of those methods is the CASHBACK program. These programs offer cash back for shopping with their credit card company. Percentages for cashback earnings range from 1% to 10%. Some are in rotating categories while others are all the time. In some cases, the customer may even choose the categories. It can be quite lucrative.

Cardholders need to take the following precautions for these programs to work beneficially.

• Do not spend more than you can afford.
• Pay monthly on time.
• Statement balances must be paid in full.

If you are going to pay late or not pay in full, the interest and late charges will defeat the whole purpose of these programs.

As you shop, the cashback for that shopping accumulates. If the benefit is saved all year, there is a substantial amount available depending on your shopping habits. These rewards can be received in a variety of methods. The following are a few of the choices:

• Check sent to Cardholder.
• Deposit made to Cardholder’s Bank Account.
• Credit issued on the Credit Card Statement.
• Gift Card Purchases.

There are many possibilities and choices for these programs. It can be a nice cushion during tight times. It can be a lifesaver when other sources are not available.

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