Cashback Credit Cards
It's possible to earn up to 1% money back on all your spending, or even 2% for an introductory period with cashback credit cards.
Cash back is a loyalty scheme that rewards customers when they use their credit card to make purchases. You will receive a cashback percentage of your purchase amount each time you use your card which is usually totalled up and paid to you as an annual lump sum.
If you pay your credit card balance off in full each month and pay nothing in interest charges, the advantage of using a cash back credit card is that everything you buy is a little cheaper as cashback is effectively a discount on all spending.
For instance if you spend $400 a month on a card offering 1% money back you would earn a $48 reward each year.
However in order to really benefit from this type of reward scheme you need to pay off your card balance in full and on time each month or you'll risk paying interest and the charges will outweigh the cashback gain.
The easiest way to ensure payments are made in full and on time is to set up your payment by direct debit.
Compare and find the right card for you
United Kingdom: www.creditsearcher.co.uk
United States of America: www.cardratings.com