How Does Cash Back Work?

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How Does Cash Back Work?
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What is Cash Back and How Does Cash Back Work?
Cash back is a perk offered by many credit card
companies on some of their rewards credit cards.
Cash back refers to earning back a percentage of
the money you spend on your credit card. Some
cards offer the opportunity to earn even more
cash back on purchases made by enrolling in
quarterly promotions or shopping through their
virtual shopping portals.
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One of the easiest ways to spend smarter is by
using a cash back credit card for everyday
purchases, 
Instead of using cash, or a debit card, which
typically offers little-to-zero rewards, opt for
using a credit card that offers cash back perks.
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There is often a limit or cap on how much cash
back you can earn on purchases through promotions
or quarterly rewards programs.
For example, your card may let you activate 5
cash back at gas stations up to 1,500 for the
quarter and provide 1 cash back on all other
purchases. Be sure to read the terms and
conditions to fully understand (and take
advantage of) your cards cash back rewards
program.
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How to Redeem Cash Back
Cash back can be redeemed in a number of ways
Bank Deposit cash back you have earned into your
checking or savings account. Some cards may allow
you to cash out your balance without needing to
earn a minimum amount. Be sure to read your terms
and conditions to understand your redemption
thresholds.
Statement Credit You can often apply your cash
back to your current credit card balance.
Gift Cards Some credit card companies allow you
to get additional value by redeeming your cash
back for gift cards or eCertificates for popular
merchants.
Charitable Donations Some credit card companies
allow you to donate some or all of your cash back
to a charity of your choosing.
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As Always, Be Responsible
Cash back is not to be misinterpreted as an
incentive to spend too much. Look at it instead
as a bonus for the money you would spend
regardless of whether you were earning rewards. 
(The last thing you should do is charge more than
you can afford just to get more cash back.)
If you overspend and fall into debt, you risk
running up interest charges that could wipe out
the perks of rewards.
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Be sure to pay your credit card bills on time,
every time. And pay as much as you can to avoid
interest charges.
More tips to earn money on your reward card
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