Are Cashback Credit Cards Worth It ?

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Most major credit cards offer rewards—but are the rewards you earn significant enough to make applying for the card worthwhile? When used responsibly, a rewards credit card can help you save money on everything from travel bookings to Amazon purchases.

However, not everybody knows how to maximize their credit card rewards, and not everybody knows what a good rewards card can do for them.

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Are our rewards credit cards worth it? In most cases, yes—which is why we’re giving you the information you need to get the most out of your rewards-earning credit cards. In this guide, we’ll go over the following:

What is a rewards credit card?

How do credit card rewards work?

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What is a rewards credit card?

A rewards credit card is exactly what it sounds like: a credit card that rewards you when you use the card to make purchases.

Cashback

Cashback cards are the most straightforward type of rewards card because they use a currency you’re already familiar with: dollars. You earn a percentage of every qualifying purchase back. For example, 3 percent cash back on a $100 purchase would earn you $3 in rewards.

How do credit card rewards work?

Earning rewards is only half the battle. When you’re ready, you can redeem your credit card rewards for money-saving opportunities. Redemption options may include:

• Travel bookings: Save money on flights and hotels or earn enough rewards for a free flight.
• Statement credits: Reduce the amount of money you owe on your credit card.
• Online shopping credits: Reduce the amount you pay at the checkout when you shop with popular online retailers.