What is a cash-back credit card?

A cash-back credit card is a type of credit card offered by banks and other lenders that give you a reward based on the amount of money you spend. These cards allow you to earn back a portion of the money you spend, but they typically come with an annual fee and higher interest rate than other types of credit cards. In Illinois, cash-back credit cards are regulated under the Credit Card Law. This law requires all lending institutions to disclose all fees and interest rates associated with their credit card products. Furthermore, lenders must provide consumers with the option to opt-in to any cash-back reward offers and provide clear information about the rewards and spending requirements. Cash-back credit cards are a great way to get rewards while using a credit card. However, it is important to remember that cash-back credit cards typically come with higher fees and interest rates than other types of credit cards. Therefore, it is important to read the fine print and understand all of the costs associated with the card before applying.

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What is a cash-back credit card?

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