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How to Use Cash Back Credit Card Points

Sep 16, 2008
If you already have a cash back credit card or you're looking to get one, you're probably wondering how the cash back system works or if you have a card in your hand, you're probably curious on how you can redeem your cash back points and what can you get with them.

Read the fine print - The first thing you're going to want to do before you even apply or if you have a card already, you're going to want to read the terms and conditions. You're going to want to know how many points you're going to get per dollar. You'll find with some cards that you'll get more points at say, at gas station than if you spent that same dollar at a grocery store. Make sure you know how many points you're going to get when you use your card. This way, you'll have a good idea on how many points you're going to get per transaction.

Learn what you can get - Every credit card company is different when it comes to redeeming your credit card points. Some companies allow you to get a statement credit while some may only allow you to purchase particular items. Since most companies are pretty good when it comes to rewards, you'll want to make sure you can get the most out of your rewards when you redeem them. You won't want to rack up a bunch of points and find out you can't get anything in return that's worth any value.

Know how to redeem your points - When it comes to redeeming your credit card points, you're going to have to know how to redeem your points. Depending on the company and how you receive your statement, you'll be able to tell how many points you have in your cash back balance. From there, you'll either have to select options in order to tell the credit card companies what you want to do with your credit card points. As mentioned previously, you can either get a statement credit, which most people tend to do or you may take those points and redeem them for gift cards, clothing, electronics, etc. It's all up to you.

Know the golden rule - Everyone knows that when you do have a credit card, you're going to have to be aware of the fine print because the companies sometimes like to screw you over with little things that won't allow you to redeem your points. When I say you should know the golden rule, what I mean by this is that you should be aware of all the rules including if there are any expirations. Some people will apply for a cash back card and find that there are expiration dates on their points. Because of this, they find it's hard to build up enough points to use those points. Make sure that you card has no expiration points when you do apply for a card.

Cash back cards are a great card to carry when you want to make the most out of your purchases. Make sure you pay your card off in full every time and you can get the full effect of a cash back card.
About the Author
Find the best cash back card and more of Tom's work at FINDcashbackcards.
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