24th July 2017 - 3 min read
Cash Back Credit Cards give you rebates in the form of cash. Rather than provide points and other credit card rewards, Cash Back Credit Cards calculate the total value of your monthly spend and then give you back some of this in the form of cash. While they work like rebates, Cash Back Credit Cards only return cash and not rewards, which often come in the form of discounts for other products that you may not want. This way you don’t waste any points so you can get more actual savings on your Cash Back Credit Card spending.
How Do Cash Back Credit Cards Work?
Most Cash Back Credit Cards give a percentage value or rate from 1% to 5% for their Cash Back rewards. So if you use your Cash Back Credit Card to buy an RM100 item, you get the 5% value of this purchase back in cash for a total of RM5. This means the item now costs RM95. This Cash Back is usually paid at the end of your credit card statement cycle.
Is There a Maximum Cash Back? Do I Need to Spend a Minimum Amount?
There are limitations and requirements to Cash Back Credit Cards that include the following:
What Else Do I Need to Know?
Which Cash Back Credit Card Should I Get?
If you are interested in applying for a Cash Back Credit Card, bookmark RinggitPlus.com! Over the next few weeks we will be sharing our in-depth reviews of the best Cash Back Credit Cards for Malaysians.
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