Make Money With A Cash Back Credit Card
Below is a MRR and PLR article in category Finance -> subcategory Credit.
Make Money with a Cash Back Credit Card
Overview
If you consistently pay your credit card balance in full each month, avoiding interest charges, a cash back credit card could be a smart choice. Designed for those who don’t pay interest, these cards offer rewards through annual cash back.
Benefits of Using a Cash Back Credit Card
Cash back credit cards can be a great way to earn as you spend, returning a percentage of every pound you spend. Typically, this ranges from 0.5% to 2%, depending on the lender's generosity. It's crucial to pay off your credit card balance in full each month, as this is the key to benefiting from a cash back card.
Who Should Avoid Cash Back Credit Cards?
If you tend to carry a balance, a cash back credit card might not be ideal. The interest charges can outweigh any cash back you earn, since these cards often have higher APRs.
Is a Cash Back Credit Card Right for You?
For those who avoid interest charges, each pound spent on the card can earn you a little back. If you pay your balance in full monthly, switching to a cash back card can be a rewarding choice.
Important Consideration
Avoid transferring balances from your old credit card to a cash back card. Payments will apply to the transferred amount first, causing interest to accrue on new purchases. This could result in higher costs than the cash back rewards you earn.
Recommended Cash Back Credit Cards
Some of the best deals currently include:
- Amex Blue Cash Back Card
- Amex Platinum
- First Trust Bank Cards
If you maintain a clear balance each month, a cash back credit card can help you save even more, particularly during sales. Make your purchases work for you and earn while you spend!
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