Where can I use my cash back?

Where can I use cash back?

Depending on the credit card that you carry, you can use your cashback in many forms. From being able to redeem your cashback as a deposit in your bank account to that of redeeming for hotel vouchers, it’s all possible given the type of credit card you possess. For example, some credit cards automatically apply your cashback to your statement balance but have no other ways of redeeming it. Other reward cards, however, allow you to be able to use your cashback rewards at hotels, on flight tickets, and on merchandise. 

How do I know where I can use my cash back?

You can find out where you can use your cashback by referring to your card’s site or its terms and conditions. A simple phone call to your card’s customer service will also tell you of the different redemption methods possible with your cashback.

Should I save or spend my cash back?

The answer to this question greatly varies with the type of rewards program that your credit card offers. Cashback may expire on some credit cards within a certain time frame whereas on other cards your rewards may never expire. If your cashback expires within a time frame set before you’re able to reach your goal, it’s wiser to use the rewards. To determine whether or not your credit card has a cashback program that expires, take a look at your cardholder’s agreement.

Is cash back worth it?

Having a credit card that offers cashback is better than having a credit card that doesn’t. Cashback programs reward you a certain percentage of your purchases while allowing you the convenience to shop with a credit card. With many reward cards having no annual fee, there’s no hidden cost associated with receiving cashback. In short, it’s worth it if it’s not costing you anything and you want more money in your pocket.