Monday, August 18, 2008

Finding A 5% Cash Back Credit Card

Category: Finance, Credit.

With so many scams out there and businesses trying to pull the wool over consumer s eyes, it seems impossible to believe that a credit card would really offer to pay 5% cash back just for making purchases with the card.



Several of the best cash back credit cards are really giving their customers 5% cash back rewards- and you just might be able to take advantage of these special deals. Nonetheless, it is true. Beating the Competition. One of the answers they have come up with is to offer cash back credit cards. With so many credit cards out there, credit card companies are in a bind to find a way to draw more customers in. With these credit cards, you earn money back for every purchase you make.


All of this fierce battling is perfect for the consumer, who can take advantage of the resulting deals. As cash back credit cards rise in popularity, credit card companies are once again at the drawing table looking for a way to bring customers their way. One of these great deals is the increase in credit card companies willing to provide cardholders with 5% cash back. These cards also offer 1% cash back on all other purchases. In addition, this cash back reward is earned from making everyday purchases, such as those made at drugstores, and grocery stores, gas stations. Finding a 5% Cash Back Credit Card. Some credit cards offering this special deal are Citi Dividend Platinum Select MasterCard and the Blue Cash Card from American Express.


The best cash back credit cards provide the 5% cash back reward. Whether you are an individual or a small business, you can find a great cash back credit card. The Downside. The Advanta Platinum with Rewards and American Express OPEN: The Small Business Network are two great cash back credit cards for business owners. There is one downside to the 5% cash back bonus offered by certain cash back credit cards. This is not because the credit card company has excluded them.


Certain major stores, such as Sam s Club and Wal- Mart, do not earn the 5% rebate. Rather, it is because these stores have not coded their items as grocery, or pharmacy, gas. Therefore, you will need to go to major drug stores, and gas stations, grocery stores to take advantage of the special 5% incentive. Therefore, the credit card company has no way to properly track the items. Otherwise, you will only earn 1% cash back. Credit card companies are able to offer the great incentives of these cash back credit cards for many reasons. The Mindset of the Credit Card Company.


First of all, they are willing to pay out a little extra in order to grab a larger portion of the consumer market. Therefore, they are counting on you setting the plastic aside when you visit drug stores, and grocery stores, gas stations. Secondly, American spending habits have traditionally been to use a check or cash for everyday necessities, health, such as food, and home purchases. The trend for credit card usage is, changing, however. Retailers are assisting in this trend by providing incentives for using credit cards, such as fast moving self- service aisles that accept only credit cards. More and more, consumers are using their credit cards for everyday purchases. So, if you are able to pay your credit card balance at the end of the month and if you make sure to use your cash back credit card for all of your purchases, particularly the everyday ones, you will be sure to start earning money back in no time!

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