How do cash back reward cards work?

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How do cash back reward cards work?

Postby bisbicos » Thu Apr 26, 2012 12:44 am

The majority of my reward cards offer points. I understand how they work and how to redeem them. My question is, I have a BofA gas rebate card which issues me 5% of my gas purchases every month. What happens if I pay off my bill in full before the month is over?

Example: this month I carried a balance of $1846. When the new statement came in. The total was $1846 - 5.43 as my gas rebate. Total of 1840.57.

If my balance was 0 would the rebate be credited to my account. Or would BofA mail a check?
Credit Cards
American Express: Fidelity Rewards (2% cash back) 9.5k
Discover: Discover More (5% rotating categories) 12k
Mastercard: Chase Freedom (5% rotating categories) 4.6k
Visa: Citi Forward (5x pts on restaurants) 15.7k
Citi Dividend (5% rotating categories) 5.6
Capital One Journey (1.25% cash back) 1.25k
BofA AAA (5% on gas) 2.5k
PenFed Platinum Rewards (5% on gas 3% groceries) 7.5k

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Location: Virginia

Postby JCarter » Thu Apr 26, 2012 1:30 am

Account credit.

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