Cash Back Credit Cards

Wow, Cash Back Credit Cards!!

by Marlene Marcelloni, Windsor Ontario, Canada

Isn’t this great a Credit Card that gives me money back every time I shop. Cash Back Credit Cards. It just sounds too good to be true.

Well, there are some Credit Cards that really do give you cash back, but usually it is only 1%. Hey, free money is free money, right. Well maybe.

If you charge everything and make a lot of purchases each month this looks like a good deal for you. However, you need to know that they don’t give you cash back on every purchase. Even if they claim to give you cash back on every purchase, the Credit Card company has a strict limit on the amount they will give back to you.

One needs to read the little itty bitty tiny print on the form that you sign, and you will see the limits in the terms and agreement paragraph.

The deal sounds really great in theory, but if they give back 1% on a limited amount of your purchase and their interest rate and annual fees are higher than other cards, well you see where I’m going.

Although some Credit Card companies offer these cash back deal to people with low credit rating to help them rebuild their credit. "American Express" has been a favorite. They may pay more, but they are reestablishing their credit.

If you have good credit and pay your card off every month then this can be a good deal for you. There are some companies that offer 3% cash back and impose very few limits for those with a high credit rate, but remember, read the fine print before signing and research all your options. Sometimes theses great offers are not what they appear to be.