Is learning about cash back credit cards a good or bad idea?
At first glance, getting a credit card that offers cash back on all purchases seems like a no-brainer. Who wouldn't want to earn cash back on everything they buy? However, before diving in, it's important to consider the fine print.
While some cards do offer cash back, it's typically a low percentage - usually around 1%. Additionally, cash back is often capped per transaction and there may be overall limits on the amount you can earn. It's important to carefully read the terms and agreements before signing up for a cash back credit card.
If you're someone who makes a lot of purchases each month, a cash back credit card may seem like a great option. However, it's important to keep in mind that not all purchases will earn cash back, and your credit rating may be taken into consideration before being approved for a card. It's important to research different credit card companies to find one that fits your needs, with a high cash back percentage and few limits on what you can earn.
Ultimately, whether or not a cash back credit card is a good idea depends on your credit rating and spending habits. If you have a high credit rating, a card with a high cash back percentage and minimal restrictions could be a great option. On the other hand, if you have a low credit rating, it may be wiser to consider a credit card that can help you rebuild your credit.