If you’re already spending money buying groceries, getting gas and filling prescriptions, you might as well be getting something back by using a cash back credit card. There are plenty of tips on how to become more efficient when doing the mundane tasks. However, our favorite is getting paid for the drudgery in the form of the rewards offered by a cash back credit card.
Cash back credit cards are a great tool for consumers who want to get rewarded for their everyday expenses. By using a cash back rewards card, you can potentially earn a 5 percent rate of return from all the charges you made during a specified time period. Those expenses at your favorite coffee provider, gas purveyor, grocery store, pharmacy and utility companies can end up handsomely rewarding you in the long run.
Cash Back Credit Card Rewards Options
There are plenty of options for cash back reward credit cards. Discover was one of the first credit card issuers to offer this type of incentive. Originally backed by Sears, when their cash back credit card rewards program first launched, the rate of return was a meek 1 percent. Since that time, Visa and Master Card have developed similar types of credit card incentive programs to entice consumers to sign on the dotted line. Discover Card now offers at least a 5 percent rebate in order to be competitive. Despite the percentage of cash back incentive they offer, all credit card companies cap the limit to control the expenses associated with the program.
If you are looking for a way to make money you’re spending on daily things, signing up for a cash back reward card is a smart idea. The next time you need to use your plastic to pay for a car repair, your child’s braces or any other day-to-day activity, you will be earn dollars while making sense.