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What are cash back credit cards?

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20th Nov 2009 by JonB

Many credit cards offer various rewards and incentives for you to use them. The financial institution behind the card makes a great deal of money off of interest when you use the card, so it behooves them to offer incentives for continued use. One of those incentives is the "cash back" program. Though the programs vary widely from card to card, the basic idea remains the same. That is that the card holder gets a certain percentage of the money they spend credited back to them. For example, many credit cards offer cash back when you spend money on gas. If you do indeed spend a lot of money on gas it may be in your best interest to seek out a card with a rewards program like that.

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17th Nov 2009 In Finance 1 Answers | 605 Views
Subjects: credit cards,

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