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This is just a 21st Century version of a coupon you’d clip from the newspaper. As others have said, not really the main objective of a cash back card.
I have to say, the offers I am seeing from some credit card issuers like Chase are remarkably embarrassing. For example, this one offer for Five Guys burgers is promoting "5% Cash back!". That sounds like a very decent offer, but then when you look at the offer details you will see "$1.50 cash back maximum".
What card do you have from Chase that offers and is promoting a 5% cash back at Five Guys?
More sneaky tricks from credit card companies. They get it all back when you carry balances month to month. Avoid credit card debt.
Well ideally people shouldn't be carrying CC balances month to month. This certainly applies to cash back or other sorts of reward cards where interest accrued (if there is enough of it) will negate any benefit from said reward or bonus.
Only time it makes sense to carry a balance on a reward card is if the thing has a zero percent (0%) interest period. Then long as one pays off any debt racked up before that period expires all is good.
All this being said cash back and some other reward cards often carry higher APR than straight CCs. As you yourself noted the house always wins. Depending upon factors such as credit worthiness and type of CC APR for cash back cards may be three, four, or much more higher than a CC without.
People need to look about and get or use the right cash back CC that suits their purposes.
Citi Double Cash back for instance is a straight 2% back on everything. Other cards have 3% for certain things, 2% for still others and just 1% for rest.
Amex Blue Cash Everyday and Everyday Preferred are great cards if you routinely spend in certain categories.
Key word there was "routinely" to which I'll add "need".
Best use for cash back cards is for spending you'd do anyway, so why not make some money...
Gas, groceries, online sales, travel, whatever rocks your boat.
Cash back is fast becoming the new "points". Some cards rack up points that you can use for cash back, but then you have to consider cost per point. You always want to get dollar (or more) for each point you redeem be it cash, gift card, travel, whatever.
The dollar fifty part, scroll up and read the post
Repeating yourself isn’t answering the question. It’s not clear to me what is embarrassing about it. It’s basically an optional coupon. How is that embarrassing?
I swear to God reading comprehension is at an all time low in this country
Somebody please close this thread
Maybe it’s your complete lack of ability to articulate an argument that makes sense?
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