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CASH back is usually paid out monthly, quarterly or annually. The way it is paid to you will either be as a credit to your credit card account or as a personal cheque.
Monthly or quarterly cash back payments tend to be as an account credit, while annual payments can be either as an account credit or as a personal cheque.
Cash back payments are made in the following way by these cards:
American Express Platinum – credited to the account annually
Barclaycard Platinum Cashback – credited to the account monthly
Egg credit card – cash back credited to the account instantly with the transaction, or the discount will be applied by the merchant before purchase
i24 credit card – cash back paid annually via a personal cheque
If you have a cash back credit card you need to check the small print from your credit card provider to determine when and how you will receive the cash back from your spending.
The times and payment methods for cash back can vary from one card provider to another, and it is therefore important that you find out how the card works when you open your account so that you know how and when to expect your rewards.
Cash back is an effective way of making something back from your spending
A cash back credit card is an effective way of making a little something back off your card provider.
You can earn cash back simply for making purchases on your card, and remember the level of cash back awarded can vary from one provider to another, so it is important to compare the different cash back credit cards.
Also, it’s important to make sure that you repay your balance in full each month on any reward credit card. Using a cash back card like a debit card rather than a credit card will keep your cash back earnings as free money; otherwise the interest you are charged will counteract any cash back that you might earn from your spending.
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