Getting the most out of Cash Back Credit Cards

How many credit cards do you have? How many does one person need? Most people have maybe three or four credit cards but many have a wallet full of credit cards that do not help them. One way to have credit cards help you is to have a credit card that allows you to spend and then get a reward at some other point in time so you can spend again. A very good way to help build your credit and to get some money back from the credit card companies is to have one of these credit cards that reward you with a rebate check of money for certain purchases. Several credit card companies will give you a percentage of your purchases as money back to you at the end of the year. The best thing to do with that check is to of course go back and buy a few more items using that same credit card and then also using the rebate check toward that purchase.

One shouldn’t forget to pay off the most that you can to avoid extra charges on that credit card. A good credit history is important to keep and paying only the minimum amount required each month only just gets you deeper in debt. Be sure to read your statement from the credit card company to see how the cash back program works. A well known program that allows for one, two and three percent on goods purchased is American Express from the Costco store. Every time that you use your American Express card at that store, you receive the three percent back as a check. The same with the one and two percent that you spend on traveling and other stuff that you need. The check comes attached to your statement and you tear it off and cash it in at the checkout.

Some people want to do more with these rebate checks, like pay off some of that credit card bill. You have to read the rules as usually that is not allowed. I think it makes a pleasant surprise when it finally comes in the mail. Everyone is different when it comes to credit cards but these cash back cards are good incentive to buying the things you want and need and also getting something in return. Why would you use anything else? The way to get the most out of these cash back credit cards is to use them for your airline trips or hotel stays and you can get back a higher percentage at the end of the year or on your anniversary of receiving the credit card.

The credit card companies are hoping that you don’t pay them off and have a zero balance. A good one two punch would be to buy that trip back home to visit relatives and then purchase items with only that card while on that visit and then pay off that balance after getting home! I suppose that is only a dream for some people but it would give you excellent credit, an extra check of money and help you to set some goals in life. First, read and adhere to all of the credit card company’s rules so that your cash and credit can go a long way.