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Make Money From Cashback Credit Cards

Introduction To Cashback Credit Cards

Another way to make money from credit cards is by applying for, and using, a cashback credit card. A cashback credit card is basically a credit card that rewards you for spending money on the card. Many credit card companies offer cashback credit cards as an incentive for people to firstly use their card (in preference to other available credit cards) and secondly to spend more money than they usually would using the credit card (and eventually be unable to keep up with the credit card payments, which means the credit card company will be able to charge you high rates of interest).

Cashback credit cards have been available for a few years now, and many people have welcomed their introduction because it allows you to earn money whilst you spend. It is very similar to the credit cards and store point cards which offer you points in relation to the amount of money that you spend. For example, the food superstore Sainsburys has a Nectar card which enables you to earn Nectar points every time you spend a certain amount of money in their store. These points are transferable and can be used to purchase gift vouchers, holidays, etc. This is just how cashback credit cards work - the more money you spend on the card, the more money you will earn back.

How Much Money Can I Earn From Cashback Credit Cards

With cashback credit cards the rate of cashback isn't amazing, it is usually at around 2.5%. This means that if you spend '100 on the credit card, you will receive '2.50 cashback. Even though this isn't going to make you rich, you must remember that the 2.5% cashback would simply be 0% cashback if you weren't using a cashback credit card - so this should really be seen as easy money. If you were to spend around '1000 a month on your credit card, by the end of the year you would have received '300 cashback (presuming it was a 2.5% cashback rate), which is a nice amount of money - perfect for using at times like Christmas, when the finances are usually a little strained.

People will argue that cashback credit cards are a waste of time, and that you wont gain much benefit from using them, and that you could eventually end up in financial problems. This is of course true if you aren't sensible with your card; you must remember to pay off any spending on the card in full when required. You must also remember not so spend thousands every week just because you will be earning cashback - the rate of cashback is only a low amount, so don't go spending money just for the sake of it. Simply use the credit card for your usual spending, and then at the end of the year you will have amassed a nice little amount of cashback.

How Can I Make More Money With My Credit Cards

You might be disappointed to hear that you will only be earning around 2.5% cashback on your credit card, and would like to know of other ways of making money with your card. If so, then you will probably be interested to read about making money from applying to credit cards, and also the article on credit card stoozing. By combining those two techniques, and by using cashback credit cards, you should easily be able to make a nice amount of money by using your credit card. Make sure you read everything through carefully and take care when using your credit cards though.

Why You Should Use A Cashback Credit Card

Remember that if you aren't currently using a cashback credit card for your spending, you wont actually be earning any money - which is a wasted opportunity. Apply for a cashback credit card today and start getting paid to spend money.

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