Credit Card Questions & Answers

Related FAQ's & Guides Q. When and how will I receive the cash back I've earned? A. Cash back credit cards vary their means of when and how they make the reward payment. Usually cash back will be paid to the cardholder as a credit to their account or sometimes as a personal cheque. Q. Why is it important to repay my spending in full when earning cash back? A. Primarily because any interest charged - even on the lowest rate credit cards - will outweigh the financial gains of earning cash back. Egg Credit Card: Is it still worth applying? While Egg has clearly lost points in the customer confidence ranks, they are still topping the best buy tables for 0% balance transfers. But is Egg still a bank we can trust in? Does your Reward Credit Card Live Up to its Name? If you've previously been tempted by the lure of point based reward schemes, is your reward credit card earning you a plentitude or a pittance? How do Cash Back Credit Cards Work? Cash back credit cards allow you to earn a percentage of what you spend back as a cash reward.

ONE of the higher paying cash back credit cards on the market is the American Express Platinum credit card, which offers up to 5% cash back to credit card customers.

The American Express Platinum credit card's standard cash back rates are also pretty impressive at up to 3% on all spending.

However, you should remember that cash back rates on credit cards vary between providers and depending upon how much you spend on the card each month. So you should compare cash back credit cards in order to find the best deal for you and your spending.

Cash back credit card offers

As well as the American Express Platinum credit card there are a number of other credit cards offering cash back.

Barclaycard's Platinum Cashback credit card offers 4% cash back on all spending in the first 2 months and then 0.5% cash back until 2010.

Capital One's Cashback with World MasterCard credit card offers 4% cash back in the first 3 months and then 1% cash back thereafter.

Lastly, Egg credit card offers up to 10% cash back with selected retailers through the Egg.com website.

Make the most of your cash back credit card

Credit card cash back levels can vary from one card to another and credit card providers also often launch special offers on cash back rates.

By keeping your eyes peeled you could find a credit card offering a very high cash back level for an introductory period or on certain purchases, which is something to look out for (See the latest cash back credit card deals here).

The higher the cash back level on the card the more you can earn back for spending on the card, but make sure you weigh up all of the factors before you decide.

For example, you need to consider whether a card offering 5% cash back on purchases made from certain retailers is going to benefit you more than a credit card offering a slightly lower cash back level that can be earned on all purchases.

Also, in order to make sure that you make the most of your cash back credit card you should repay the balance in full each month. This is because you can avoid paying interest this way, so any cash back that you earn is pure profit.

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Credit card questions & answers

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