What is a cash-back credit card?

A cash-back credit card is a type of credit card that provides cash rewards to the cardholder when they use the card to make purchases. The rewards are typically in the form of cash back, which is usually credited to the cardholder’s account. The amount of cash-back rewards will depend on the type of card and the type of purchase; some cards even offer a higher percentage of cash-back on certain items. In Florida, cash-back credit cards are regulated by the state’s Credit Card Law, which mandates that cardholders must be informed of the fees associated with using the card, as well as the interest rates associated with the card. As with all credit cards, cash-back credit cards must also be reported to the three major credit bureaus. This helps ensure the cardholder is able to maintain a good credit score. Cash-back credit cards also enable cardholders to build a reserve of money for future purchases, helping them avoid going into debt.

Related FAQs

What is a penalty interest rate on a credit card?
Are there any rules or regulations that apply to credit card companies?
How do I choose the best credit card for my needs?
How do I choose a credit card company?
What is a credit card annual fee?
What are the different kinds of credit card fraud?
What is a minimum payment on a credit card?
How do I determine the credit limit for my credit card?
What kind of protection do I have if I'm a victim of identity theft?
How do I close a credit card account?

What is a cash-back credit card?

Related FAQs

Related Blog Posts