Learn more about cash back credit cards: good or bad idea?
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Getting a cash back credit card always seems like a good idea. What could be better than getting a refund for all purchases made with your credit card? Sounds too good to be true, right?
Well, there are cards that give you free money, but they usually only cost about 1.5 cents.But free money is free money, right? Well, sometimes.
If you want to buy a lot of things in a month, this type of credit card is probably right for you. However, please note that you will not receive cash back for every purchase you make. Even though they claim to refund you for every purchase, you only get a certain amount per transaction.The company also sets a strict cap on the amount it refunds to its customers. If you read the fine print on the signed form, you will see a paragraph with restrictions in the terms and conditions and contracts.
This is another opportunity for these companies to attract new customers. It's a good credit card and sounds good in theory, but before they give it to you they have to check your credit score.
Research different credit card companies to find out what they offer.You'll be surprised to find a cash back credit card that offers exactly what you need and want, with a high cash back rate, few payback limits, and instant cash deposits on every purchase you make with the card.
Although these credit cards seem like a good thing, some companies also require excellent credit. However, some credit card companies offer these cards to people with low credit scores to help them rebuild their credit. Check all options.
What should your decision be?If you have good credit, this card is a good option for you. Research different card companies: Some cards offer up to 3% cash back and have very low limits. However, if your credit is bad, you can find a credit card that will help you rebuild your credit.