- Centurion Member
- Posts: 532
- Joined: Thu Jan 17, 2013 7:20 pm
- Location: United States
Cash back cards are a pretty simple concept. Instead of acquiring points or miles for purchases, you just get cold hard cash back. So if your card gives you 3% cash back on gas, and you spend $500 on gas in a month, then you get back $15. How you get the money back depends on the card. Some are issued as statement credits while others transfer the money to a linked savings or credit account. So my Bank of America Cash Rewards card is linked to my Bank of America savings account and I see the money that way. Finally, if there is no linked savings/checking account, some allow you to redeem with prepaid Visa/MC gift cards.
Discover pioneered the cash back card back in the 80's but nowadays, everybody has some version of one.
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)