Earn Money with a Cashback Credit Card

1
Earn Money with a Cashback Credit Card
Credit cards arent just a handy borrowing tool.
Some of them can make you hundreds of pounds a
year. Essentially, with a cashback credit card,
you get paid to spend.
2
Here are the some question including on your
cashback reward card

• What is a cashback credit card?

• Should i get a cashback credit card?

• How to get the most from a cashback card?

• Cashback vs rewards

• Will i be accepted for a cashback card?

3
What is a Cashback Credit Card?
A cashback credit card is a specific type of
credit card designed to encourage you to spend by
offering you rewards. For every pound that you
spend on these credit cards the credit card
company will give you money back. The best cards
pay back around 5 of your spending for the first
three months, but most of the cards average a
cashback rate of 0.5 to 1.5 on all purchases in
the long term.
4
Why the Free Money?
The credit card companies arent giving you money
for nothing. Theyre hoping that youll spend on
their cashback credit card to earn some money but
then not clear your balance in full. Then they
can then pocket far more in interest than you
will ever earn in cashback.
5
Should I Get a Cashback Credit Card?
Get a cashback credit card if

• You can repay your credit card balance in full
  each month.

• You prefer the flexibility of cashback rather
  than earning points on a potentially more
  rewarding rewards card.

Dont get a cashback credit card if

• You are planning some big purchases and will not
  be able to clear your balance in full. Go for a
  0 purchase card instead.

• You are paying interest on existing credit card
  debt. Youll save far more money if you move your
  existing credit card debt to a 0 balance
  transfer card than you could make by spending
  more on a cashback card.

6
A cashback credit card is another type of rewards
card except it offers the simplicity of cold,
hard cash rather than rewards points. But that
doesnt mean it is always the best option.
If you fly a lot, a credit card linked to an
airline rewards program could end up being more
useful than a cashback credit card.
Also, if you are particularly loyal to one
supermarket brand their reward credit card could
be more beneficial for you.
You can compare the pound value of rewards cards
against how much your spending habits would net
you with a cashback card by using our comparison
tool.
7
Will I Be Accepted for a Cashback Card?
As with other credit cards the best cashback
deals tend to be reserved for people with the
best credit records, but if your credit rating
isnt perfect you could still be accepted for a
card with a slightly lower rate of cashback.
Dont just apply at random until you are accepted
though, the more times you are rejected the less
chance you have of getting a card as the failed
applications count against you on your credit
record.
8
How to Get the Most from your Cashback Card
Know Your Card
Dont Go Over Your Limit
Different cards offer different cashback rates.
Some offer a high introductory rate that falls
away after a few months, while others offer
higher rates of cashback on certain forms of
spending. So make sure you get the card that best
matches your shopping habits.
Most cards charge a penalty if you breach your
credit limit, so go over a it few times and
youll have paid more in fees than you will earn
in cashback.
Dont Withdraw Cash
Dont Apply for Multiple Cards
It can be tempting once the introductory cashback
period has ended on one credit card to apply for
another rather than settle for the lower
long-term cashback rate. But numerous credit card
applications can damage your credit rating and
you may find yourself failing to get credit as a
result.
Not only will any cash withdrawals you make be
exempt from cashback, youll also start paying
interest on the withdrawal from the minute the
money is in your hands. The interest may be so
large as to cancel out your cashback returns.
9
Get more money on your cashback reward card, in
any purchase you buy online. Use one for all of
your spending (where possible) and you could
pocket hundreds of pounds a year.
For More Information Visit us at
www.pandacashback.com