Cash Reward Cards

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An Introduction to Cash Reward Cards

Funds reward cards tend to be rebate credit cards giving people money back after the year. This can be a small or a lot for the way much they have allocated to their card. Cash reward cards are usually provided by a lower interest rate in most cases to those who have excellent credit ratings. These cards might help people save regarding items they may are interested during the year. It is best to just use a credit card when it’s possible to afford to, and always repay the balance so that Interest will not have to be paid. Each month, the statement will show how much is at ones reward account. After the year, the credit card organization will send a check as well as the reward program will start again.

People buy all sorts of things from their cash reward cards. They will purchase new clothing, home furnishings, tvs, or books. Several may even go on holidays. It does not matter what a individual buys with money using their cash reward credit cards. This is a good way to encourage people to use their credit charge cards. If a person has a handful of these cards, they will be able to receive more money after they year. These cards are issued like all other credit card and look the same as well. Some gas companies have prepaid cards that offer money back with regard to gas that is obtained.

Cash reward charge cards can be applied for like every other credit card. Gasoline and also grocery store cards can also be applied for at any time. Obtaining a reward for using ones credit card in the past year can help people repay any debt that they’re going to owe. Cash prize cards are good methods to save some money while buying.

Comments: 60

  1. Joleen February 9, 2013 at 12:34 pm Reply

    Prefer a card that has no interest on balances paid off monthly.

  2. Valentin March 7, 2013 at 3:25 am Reply

    I just got a regular credit card with a a $5,000 credit line that offers cash back percentage rewards. Store card offer no rewards. I’m just afraid that if I drop that store card my credit score would suffer.

  3. Rey April 11, 2013 at 1:25 am Reply

    Right now I have a Citibank mastercard. I would like to get a different citibank cash back rewards card instead. Will they allow me to switch cards without a hard credit pull?

    Basically just close out my current card and move the credit limit to another card without affecting my fico score.

  4. Nickolas April 16, 2013 at 5:32 am Reply

    I don’t make very much. MAybe $1,600 a month. Do you think i would get any cash back with any of these cash back rewards credit cards out there? Especially if i were to use the credit card for EVERYTHING basically? What card would you say is best? Any help would be appreciated.
    Please don’t tell me i don’t need a credit card either. I’ve had one for years already and no problems. It wasn’t a rewards one though. i want rewards if i’m going to use the thing.

  5. Ryan April 28, 2013 at 1:43 am Reply

    I know about the National Bank’s reward card but the offer stops when you reach $30. so I am looking to find other cards so all my annual spending will go through them and earn some cash back.

    In the UK I had three cards which I paid off at the end of the month, therefore earning me the max rewards, stinging the bank at their own game.

    It doesn’t seem to be that easy in NZ as they even charge you a fee for having a card.

  6. Wyatt May 13, 2013 at 1:44 am Reply

    I applied for a student credit card two weeks ago, but I used my boyfriends address to have it sent to his house since I won’t be at my dorm to pick it up until the end of January. I also put down his phone number (he was aware of all this.) Anyway I got denied, which I wasn’t too broken up about, but then it said that my credit score is 475. How can I have a credit score if I’ve NEVER used anything on credit. I’ve never paid a bill, I use a prepaid phone instead. I bought my car with cash off of craiglist. I don’t subscribe to magazines. I don’t do anything. I had a steady job until I graduated high school and now I’m a full time college student. I thought my credit score would be zero. Is 475 very very very bad? The application said I applied for a BankAmericard Cash Rewards Platinum Card. Is that the same as a student credit card? I applied in person at the bank. I just want to build credit and I’m distressed that I have a credit score. For future reference, what credit cards are easier to get? I heard capital one and discover? I don’t have a co signer, my dad has terrible credit and we do not live together. I’m only 18 but I’m responsible and was planning to use it just for gas and pay it off at the end of the month. I want to graduate college with a good credit score and now I’m scared. My main concern, why do I have a credit score of 475 and how bad of a score is that? I don’t have any debt?
    A Hunch:

    Yeah, I understand it’s difficult getting a credit card at 18. I’m not upset at getting denied, its just that it hurt my credit that badly. I’m just confused because I know people in deep 5-6 year debt with credit scores of 475. All I did was apply for one card and I’m in their position. I just don’t understand what this truly means and I’m getting anxious having to wait to call. If it was because of my using my boyfriends address, can I explain and have it taken off?

  7. Etta June 5, 2013 at 3:18 am Reply

    My company is looking to incorporate a rewards system for when our members buy things from retailers with a rewards card that they can scan at the retailer and it will tell us what they bought so that we can credit them the points or cash back. Does anyone know a way to accomplish this or a company or technology that can get this done?

  8. Cleveland June 16, 2013 at 12:24 am Reply

    I just got approved for a Capital One Cash Rewards card with a $300 credit limit. My goal is to build my credit. Right now my credit score is 638 and I am 22, and recently married hoping to work towards excellent credit so home buying, car buying, etc. will be a breeze. I know that there is a certain percentage of credit you shouldn’t go over when using your card, and that all payments should be made on time or early. Can anyone please tell me what that percentage is and offer any other good tips on the steps I should take to continue building my credit?

  9. Ty June 20, 2013 at 1:44 am Reply

    I have excellend credit and I love the cash back rewards of credit cards. Right now I have a discover and get 5% cash back on gax, and 1% on everthing else. Does anyone know of any better credit cards for cash back?

  10. Donita June 25, 2013 at 8:42 pm Reply

    Something for a college student with no credit (first credit card). Something with a relatively low APR, and 0% APR for the first 12 months. Cash rewards are fine. Wouldn’t really use flight/travel points. Prize awards are ok too. Just want something with the lowest possible APR. It would be really good if you could speak from experience, or could offer a few options.
    Thanks for the info. Can anyone suggest a specific credit card, or tell me what a “good” APR is?

  11. Brooks July 10, 2013 at 8:44 pm Reply

    Can I upgrade from Capital One Cash Rewards credit card (average credit) to Capital One Cash Rewards credit card (excellent credit)? Both of them are MasterCard.

  12. Kerry July 19, 2013 at 5:46 am Reply

    I have to do a project for my Personal Finance class where we design a credit card. I have it done, except i dont know what to call the card. It is a rewards card that gives you 5% cash back on groceries and gas. Any ideas?

  13. Wilson July 22, 2013 at 8:43 pm Reply

    I checked my FICO credit score a few years back & it was 710.

    I opened a credit card a year later just to build my credit. I spent the credit limit of $500 & paid off the minimum balance each month & on time. After I repaid the $500, I thought I did enough to raise my score so I closed my credit card (they also wanted an annual fee each year after).
    That was 2 years ago.

    This month I decided to open a credit card with some of the good cash back rewards & I got rejected from Bank of America, Barclays, Chase & Discover! They all said I didn’t have sufficient credit history and or lacking account history with them.

    One of the letters they sent said my Fico score was also 687!

    I eventually got a credit card from Capital One for people with limited credit history, but that only has a $500 limit on it again.

    So what can I do with this card to raise my score as fast as I can to get access to the better credit cards. Also how long will it take?

    It apparently didn’t work in raising my score with my last credit card, how can it now?

  14. Justin August 24, 2013 at 2:13 am Reply

    I want to unlock a reward card that is a chevorlet chevelle ss. I can complete the other rewards on that card, but i dont know who to get 1,000,000 cash in career. Any ideas?

  15. Mauricio August 29, 2013 at 11:58 am Reply

    I received a B of A cash rewards Visa card. Which supermarkets, stores, and gas stations are eligible?

  16. Steven August 29, 2013 at 6:07 pm Reply

    So, for personal cards I have never claimed it on taxes, with a business card do I have to claim the rewards I get back?

    Is there a difference in what you would have to claim on your taxes between cash back, points for gift cards, or miles for travel?

    I am just trying to see if there is a benefit of one type of reward card over the other. A relative of mine uses his business points to get free airplane tickets and said he never needed to claim it on taxes and auditors never asked about it. But someone else said they are all taxable.

  17. Aaron August 29, 2013 at 7:01 pm Reply

    Hi I just signed up for eBay and I currently bidded on an iPad. I have a Visa cash rewards card. How do I put this in my account so if i win it will charge it to the card? Also is th Visa rewards card the same as paypal?

  18. Zachery August 30, 2013 at 7:25 pm Reply

    I was just wondering how much people got from the victoria’s secret reward cards .

  19. Bruna October 3, 2013 at 2:18 am Reply

    I charge everthing and pay my bill in full when it comes. so I might as well have a rewards card. I would like to stick with visa or master card.

  20. Paulita October 28, 2013 at 4:51 pm Reply

    I already applied and got approved and waiting for the card in the mail ?

    Does the cash rewards card gives 1% each time you use it or just once in any new store ?
    Thanks

  21. Lanny October 28, 2013 at 7:37 pm Reply

    I have used my credit card but have not gone over the limit and my closing date is today (02/21/12) so will I have a new credit limit after today or will it stay the same until I pay the balance please help me out its my 1st credit card I have a bank americard cash rewards secured card. Thanks.

  22. Galen December 17, 2013 at 8:20 am Reply

    I received a BofA cash rewards card in 2011, it had a 3x cash back on gas 2X on groceries an 1X on everything else. Apparently that promotion ended and I wanted it back, so i asked for it and they said ok, I assumed it would be put back on the card, also the card had a $12,000 limit on it. I received a card in the mail a few weeks later with a different number, So I called and the rep said they gave me a new card with the 3,2,1 on it forever but they had to split my credit line on each card so now I have two cards with a $6,000 limit on it. The rep said if I wanted one card back with $12,000 limit I would need to do a new credit check and see if I would get approved for a line increase.

    What should I do?
    thanks for the responses so far but , i know the promotion hasn’t ended, they told me it was no longer on the other card so I am not sure why it was even taken off.

    Also there are no fees and I don’t pay any interest because I pay of the cards on time.

    Any accountants or finance pros around to help at all?

  23. Allen December 23, 2013 at 6:18 am Reply

    If I open a $6,000 secured visa credit card and use it more than three years and no payment delay or bankruptcy, then is it possible to get $5,000 or $10,000 credit limit mastercard? I prefer cash reward mastercard.

  24. Bryan December 23, 2013 at 11:50 pm Reply

    I have one credit card (AMEX) that I just applied for about 2 months ago.. I applied for it since it gave a very high (5%) cash back reward once you reached a minimum ($6,500) I just realized that my earlier interpretation of the cash back rewards policy was wrong. You need to meet the $6,500 minimum annually not just for the entire length of the account. I am thinking of opening another cash back reward card (still shopping around but leaning towards Discover) and then closing my AMEX. I have a very good credit score and would like to know if this will hurt my credit score?

  25. Hisako January 28, 2014 at 1:27 pm Reply

    so I have a cash rewards card from bank of america. hotel charged my card 9000. Now they are going to reverse that charge because i want it put on my american express. will i still get the 1% cash back $90 or not? I think i wont. But does the bank check if the amount put on the card is from the same merchant or do they just treat credits put on the card differently?

  26. Dagmar February 1, 2014 at 7:54 pm Reply

    I like getting piecemeal advice here, but I’d rather have some resource that puts it all in one place. Something that compares or rates the rebate credit cards. Any suggestions?

  27. Willie February 2, 2014 at 1:04 pm Reply

    When you have a rewards or cash back credit card do you need to hold a balance on the card for a certain amount of time before they give you the “points” for that purchase?

    for example if i spend 500 on the card and pay it all of the same month will i still recieve the points for that purchase or do i need to wait until the following month to gain the points and then pay off the card?

  28. Kerry February 2, 2014 at 9:02 pm Reply

    I don’t understand what their cash reward program is. I know that I have a reward cash of $25, because of what i spent last month. How do I use the money?

  29. Willena February 11, 2014 at 11:10 am Reply

    I use my American Express Blue for everything and do not carry a balance but when I go back to school, I want to pay my rent with it, but they do not accept American Express. They only accept Visa, MasterCard, or Discover, so I have been looking for cash back cards. Unfortunately none of them really give as much cash back as my Amex Blue Cash. What are your favorite cash back cards with the Visa, Mastercard, or Discover logo?

  30. Cleveland February 11, 2014 at 8:47 pm Reply

    My capital one CASH credit card has a full 1% cash-back with no limit (unlike the other guys that offer 3% but max-out at $12 a month), plus I get 25% annual bonus on the cash-back I accumalated that year.

    Capital One has no foreign transaction fee if i travel. The other guys charge 3% on EVERY transaction.

    My Capital One CASH Visa card is also excellent for fighting unauthorized charges against Pay Pal / eBay if you ever need to reverse a charge (God help you if you have Discover card)
    Discover card claims to give 1% cash-back, but that’s only after you spend around $5000 in one year, then anything over that $5000 is 1% cash-back; however, the “clock” resets every year and yo uwon’t get 1% cash-back the following year until yo uspend that $5,000.

    Discover really only gives 0.25% cash-back.

    This is why Capital One rocks.

  31. Larry February 20, 2014 at 11:01 pm Reply

    I was just wondering what rewards card you all think is best, without considering APR because I never carry a balance. I have one of those chase flexable ones but I think I can do better

  32. Lucia February 21, 2014 at 1:56 am Reply

    I see a bunch of credit cards that have a rewards system, but you get points that you can spend only within their online shopping store. Are the prices still the same as if you bought the product through the actual company? Also how is shipping usually done, does the credit card company get you with that? Are points worth it, or should I just go with a cash back card?

  33. Florance February 21, 2014 at 5:08 am Reply

    I’m looking for a credit card that has no monthly payments but can still give me some rewards. Preferable airplane miles.

  34. Hung February 21, 2014 at 5:08 am Reply

    I am interesed in switching to one of these card types but really am not sure which is best for me. I do moderate spending with my card (mostly large sums; gifts, bills etc.) and pay it off completely every month.

  35. Billie February 21, 2014 at 5:43 am Reply

    I have had a credit card through Bank of America- no cash rewards. Recently I applied and was accepted for my first cash rewards credit card.If I pay my credit card bill off online in advance (before receiving the actual bill) will I receive any points to my cash rewards? Or do I have to wait to receive the bill to be eligible for cash rewards? (Hopefully I am making sense)

  36. Joelle February 21, 2014 at 3:27 pm Reply

    I currentlt have the Chase Freedom card that recently took away the 3% cash back on the top 3 categories.
    I never carry a balance and always pay in full and charge a TON of stuff on my card…. I have heard that the American Express Blue might be good… any ideas?

  37. Ngoc February 21, 2014 at 3:27 pm Reply

    I have accumulated a measurable amount of “cash rewards” on my Journey Capitol One credit card. What in the heck am i suppose to do with it? How do I use it? I guess I just don’t get it…
    Wow, that was easy. Now I only owe them 100 dollars instead of 300!!!
    Simple. Thank you. 🙂

  38. Omer February 21, 2014 at 6:42 pm Reply

    How do rewards credit cards work as opposed to regular credit cards? Do we still pay off the balance each month on rewards/cash back cards?

  39. Tessie February 21, 2014 at 11:30 pm Reply

    I have a rather large expense coming up (~$6,000), & I would like to know how a balance transfer will affect my personal situation. I pay all my cards in-full, but with this large expense coming up, I would like to execute my first balance transfer, without having to empty my Savings account.

    Game plan:

    – Use my 2% cash-back card to pay for the $6,000 purchase. ($120 cash back)
    – Transfer the balance to another cash back card offering 2.99% for the life of the transfer.
    – Take $3,000 out of my savings & pay down 50% of the balance.
    – Make large monthly payments on the balance for 3-6 months, until I have paid it off.

    My problem is this: The card I am transferring the balance to, is my favorite & most used card. Offering 5% cash on gas, 5% airline, 2% grocery, & 1.25% everywhere else. I would like to continue using the card after I transfer the balance.

    My question is this: If I continue to use my card, & pay off NEW purchases of gas & grocery in-full, will I be assessed the regular finance charge APR of 13.99% because my balance is not “$0” at the end of the month?

    My ideas are these:

    1. If my assumption above is correct, I can continue to use the card & paying off the new balance without penalty. As long as I continue making the minimum payments on the balance transfer side of the statement as well.

    Example: $3,000 balance @ 2.99% with a minimum payment of 2% of the balance. 2% of balance = $60 + ~$7.50 in interest = $67.50. New gas & grocery purchases = $500. If I make a MINIMUM payment of $567.50, I will not be assessed any interest @ 13.99%, only the $7.50 on my 2.99% transfer, correct?

    2 If my assumption above is NOT correct, I would have to pay down the balance transfer card to $0, transfer the balance, & not use it at ALL until the balance transfer was paid off. This way the only interest I would pay would be the 2.99%, correct?

    Like I said, I’m a newbie to balance transfers, so if there are other options or if my ideas are way off, please feel free to enlighten me 😉

  40. Mira February 21, 2014 at 11:31 pm Reply

    I’m about to do some house renovation, and I’ll spend about $20,000 in materials. I was thinking I should get a rewards credit card of some type and earn something.

    Does anyone have suggestions? I probably won’t fly anywhere, so I was looking for other rewards. Or, would I earn enough points to fly my family of four someplace?

    Thanks!

  41. Kasha February 22, 2014 at 2:32 am Reply

    So I got a rewards card, but don’t have a credit card and I know that ur intrest rate goes up but if u never get a credit card, would it be a good idea to use it all the time?

  42. Hershel February 22, 2014 at 2:32 am Reply

    i got approved for one from bank of america, i already have the debit card with them so i dont really understand what this card is for.. is it a credit card?

  43. Ping February 22, 2014 at 5:04 am Reply

    My dad pays for my credit card… is it possible for me to take out money from my bank account using my credit card?

  44. Edelmira February 22, 2014 at 5:05 am Reply

    does anybody know where you can be 100% approved for a credit card with bad credit and without me sending them money or them giving me a limit of $300 and after the bla bla bla charges only have $50 left?

  45. Scotty February 22, 2014 at 5:11 am Reply

    Umm, for the card do u pay with cash or they charge it onto your card and you pay on the bill? HELP

  46. Lindsay February 22, 2014 at 5:11 am Reply

    My credit card company sent a letter saying I’m eligible for cash back and rewards. The cash back is 1% on all purchases, in my case that will amount to almost nothing. To find out the rewards I have to register. Is it worth the trouble? Aren’t there a lot of hidden charges? Isn’t this going to be a spam magnet? Thanks for any help.

  47. Doreatha February 22, 2014 at 7:22 am Reply

    I want to know if this CC is good card to apply for and is it easy to get? All help is greatly appreciated!

  48. Johnette February 25, 2014 at 12:54 pm Reply

    Hi, my wife and I were considering getting a new credit card and I was looking online at different options. We already have a credit card most of our purchases go on to acquire points so I was thinking about getting card that offered the best cash rewards (or points redeemable for cash) upon signing up.

    Which one do you think is the best and why? I found a bunch of these type of cards for the states but am having problems locating such a card for residents of Canada.

    All opinions welcome!
    Is there a special link for Canadians to apply for the Chase Reward card? I found one link but I think it is the US one because it only gives a spot to enter your state not your province.

  49. Mario March 13, 2014 at 8:35 pm Reply

    hi im just wondering if there is any credit card that gives reward points or cash back or whatever…. that can redempt for public transportation?
    i live in SF/Bay area and the BART cost everyday is expensive. i want to get some sort of reward on that, does anyone know??????
    thankss

  50. Lekisha March 13, 2014 at 11:20 pm Reply

    ok so you know the new Borders Rewards card? well i’m trying to request credit on my card at bordersrewards.com and it keeps saying that the transaction date is invalid when thats what it says on my recipt. If you have requested credit could you tell me how you wrote in the date?

  51. Antwan March 13, 2014 at 11:20 pm Reply

    I am looking for a rewards credit cards to choose from. Where can I go?

  52. Cortney March 13, 2014 at 11:20 pm Reply

    It seems to be a gift card for a mall or something, but I don’t know what for!

  53. Eleonor March 13, 2014 at 11:21 pm Reply

    My fiance and I are starting to make purchases for our wedding, and we have heard of people getting a credit card to make the wedding purchases and getting some kind of reward, cash back, bonus, or free airline miles.

    Has anyone heard of this? Where should I look or how should I search to find out which one to go with? Thanks for your help!

    🙂
    We are paying off anything we charge on credit cards as soon as the bill comes, so we are actually paying for EVERYTHING out of pocket.

  54. Antione March 13, 2014 at 11:21 pm Reply

    what is deffrence between student credit card and secured card?

  55. Angelic March 13, 2014 at 11:22 pm Reply

    What exactly is a secured credit card?

  56. Megan April 8, 2014 at 2:55 pm Reply

    What credit cards have the best rewards regarding either cash, hotel points, or airline points? Most bang for you buck?
    Also no hidden fees regarding the reward plan.

  57. Royce April 8, 2014 at 7:45 pm Reply

    which one is the best for a student who sometimes want to buy stuff online??

  58. Heriberto April 9, 2014 at 2:29 pm Reply

    So this is my 4th year in college (in a 5 year program) who just got approved for that cash rewards platinum plus via card. I plan on using it ONLY for emergencies. I do have a job with a month salary of about $600.00 and I do pay $250 rent. I also pay my own phone bill. I have my parents to help me out but they helped me too much in life and I feel bad taking money from them because they’re not made out of money and they’re mildly struggling them self. So, I just wanted to open an emergency credit card. I wanted it as a just in case situation. The maximum I can use is $800.00 which I definitely don’t need all that. What do you think? What if I don’t use it at all? Will they charge me if I don’t use it?

  59. Virginia April 22, 2014 at 7:55 pm Reply

    Hey i was thinking of getting this card and I was wondering if anyone who has this card already could give me a list of the kind of rewards they offer at how many points? So like ____ Points allows you to redeem _____. THanks

  60. Robin May 11, 2014 at 7:04 pm Reply

    anyone know of a credit card when you have bad credit?

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