How Much Cash Back Will You Receive

There are many factors that will go into how much cash back you will earn with your credit card.  The most obvious ones are how much money you spend and how much money  you spend in the card’s bonus categories, if applicable.

You can see that not every cash back credit card will give the same cashback percentage rate.  Most cards will list at least a basic outline of their cashback reward program in their details bullet list.

What some people may not realize is that not everyone will qualify for the same cashback rates.  Like your interest rate, you only qualify for the best cashback rates if you have a good credit score.

If your credit history is not great, you may not qualify for the best cash back credit cards.  You might still get approved for a cash back credit card with a lower cashback rate.  After paying your bill on time for a while, it is often worth calling your card issuer to request a cashback increase or apr decrease.

To get a ballpark figure of how much cash back you can receive, find a suitable cashback credit card and check the card terms & conditions.  Take note of both the regular cashback rates and the cashback rates for specific spending categories.  Also take into consideration annual cashback limits and any introductory periods.  Then compare this with approximately how much you spend annually.

Remember that you can change your spending habits to use your cashback credit card more often instead of cash or debit card.  Just don’t charge more than you can afford to pay off or our interest charges will eat up any cashback you receive.