How does cash back rewards work? - Credit Card Rewards FAQ

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Credit Card Applications » Questions » FAQs » Credit Card Rewards » How does cash back rewards work?

How does cash back rewards work?

Answered on | Updated on August 10th, 2017
The content is accurate at the time of publication and is subject to change.

Cash back rewards are the easiest to use and the most straightforward. You simply get a specific percentage back from purchases charged to a cash back credit card. Cash back rewards can be redeemed for statement credits, cash or gift cards. Cash is the most desirable redemption option, but not all issuers offer it. If they do, your cash will be deposited to your bank account or the issuer will send you a check. Redemptions are usually offered in increments like $25, $50, $100 and so on. Your cash back can be deposited to your account (or sent via check) automatically every time a certain amount is reached or you can accrue cash back as long as you wish, whichever option is available or suits you.

Cash back rewards are easy to understand and use, but you should know about possible catches. Your cash back card may have rotating categories that require enrolment, specific shopping categories may have tiered cash back or limits. Always read the rewards program terms to make sure you earn maximum rewards for all your expenses.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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