Can You Get Cash Back with a Credit CardPosted on March 16th, 2011 | admin
The answer to the question “Can you get cash back with a credit card?” is yes, you can get cash back from a credit card however to fully answer this question I need to discuss two issues, the first is if you want to withdraw cash at an ATM, you can do that and the second point about getting cash back with a credit card is there’s credit card offers you can apply for that give you cash back rewards.
First I have to talk about withdrawing cash at an ATM on your credit card, if you’re thinking about doing that, do not EVER withdraw cash at an ATM on your credit card because credit card companies have 2 interest rates they apply.
One of the interest rates is based on purchases and the second and MUCH higher interest rate is applied to cash withdrawals. When you make a purchase using your credit card the credit card issuer will charge interest after a certain grace period, meaning the interest does not take effect until a certain number of days after you’ve made your purchase so if you buy an item using your credit card today and then pay your balance in full then you won’t pay any interest however if you withdraw cash at an ATM machine the interest begins accruing at an astronomical interest rate immediately.
Now let’s take a look at the best offer that give you cash back when you apply for these card offers.
Best Cash Back Credit Card for People with Excellent Credit
If you have an excellent credit rating you can take advantage of the Discover® More Card. With this card you earn rewards on all your credit card spending
Here’s what you get when you apply now for the Discover® More® Card credit card offer:
Discover® More® Card
Best Cash Back Credit Card for People with Less Than Perfect Credit
If you’re credit is less then perfect then you’re going likely not going to find a cash back credit card however there’s a prepaid debit card that gives cash back.
The Walmart MoneyCard(SM) Visa® Prepaid Card offer is a debit card that works just like a regular credit card and the really cool thing is this is one of the only prepaid Visa card offers that actually gives you cash back rewards
Walmart MoneyCard(SM) Visa® Prepaid Card
If you need more answers to the question “can you get cash back with a credit card” feel free to ask your questions or if you’ve got another credit card with cash back rewards we’d love to here your thoughts so go ahead and submit your questions, comments and reviews on this blog and one our credit card experts will get back to you.