What is a cash-back credit card?

A cash-back credit card is a type of credit card that provides rewards to the user in the form of a cash rebate. The amount of the rebate is typically based on the amount of money spent on the card. The cash-back rate varies depending on the credit card provider but typically ranges from 1-5%. In Delaware, the cash-back rate must be clearly displayed on the credit card application and the terms of the cash-back must be provided in writing by the credit card issuer. Many cash-back credit cards also come with additional benefits such as travel rewards, purchase protections, and discounts on select goods and services. Typically, the more you spend, the higher the cash-back rate you will receive. However, it is important to note that cash-back credit cards often come with higher interest rates than traditional credit cards and this can increase the cost of carrying a balance on your card. Additionally, it is important to pay close attention to fees such as annual fees, late payments fees, and foreign transaction fees, as these can significantly reduce the amount of cash-back received.

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What is a cash-back credit card?

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