How a Visa Credit Card Will Give You More Money
Do you need more money? Just get a Visa credit card. Discover cash back benefits and which card you should choose.
Most people use credit cards to spend money, but did you know the right Visa credit card can help you make money?
It sounds like an oxymoron, but there are several ways you can use a credit card to boost your finances.
Not all credit cards are created equal. Some are free to own, while others charge a membership fee. Some offer no benefits aside from their credit services.
The best ones offer cash back rewards that help you earn money on your purchases. You’re already using your Visa credit card, so why not get a little something in return?
Here’s everything you should know about cash back benefits and how to choose the right credit card for your needs:
What is a Cash Back Reward?
It sounds too good to be true, but cash back is exactly what it sounds like. You get cash rewards based on your credit card purchases.
This reward doesn’t require any effort on your part. When you make a qualifying purchase, the credit card company offers you a percentage of that purchase as a reward.
Cash back rewards can vary between credit card provider and the credit cards themselves. Percentages you receive from each purchase can be as much as 5% in many cases.
Many cards offer flat-rate cash back. This means that your cashback percentage remains the same, regardless of what you purchase.
Some cards offer tiered cash back, with different purchases qualifying for different percentages. For example, a Visa credit card may give you 3% on gas purchases and 1% on everything else.
You will find your cash back balance on your monthly credit card statement. In most cases, you can apply your cash back bonus to your statement balance.
Or, you could redeem your rewards for gift cards or other prizes.
Best of all, your cash back reward is tax-free. The IRS considers it a nontaxable rebate on your purchase, so the money is 100% yours.
How to Choose the Best Visa Credit Card for Cash Back Bonuses
If you’re considering a Visa credit card to start earning cash back rewards, a credit card comparison can help you find the best one.
Consider these four factors to choose the best one:
Many credit cards require an annual fee to use. Make sure the cash back benefits will outweigh what you’d pay each year.
Rewards programs can vary between cards. Do you prefer a flat-rate cash back or a tiered model? Or, would you rather have rotating categories that let you capitalize on a specific type of purchase at a certain time each year?
Also, consider if having a statement credit or gift card rewards is more attractive to you.
How much can you earn with a cash-back credit card?
Look at the cash back categories the credit card offers. Then, consider how much you would spend on those categories.
Compare these figures against the annual fee to make sure a card is worth having.
Most credit cards offer benefits outside of cash bonuses, like identity protection, credit monitoring, and concierge services. See which card will give you the most for your money.
Earn Money Today!
Using a cash-back program isn’t going to make you rich, but it can give you a little extra spending money between paydays. Choose your program wisely, and enjoy the benefits for years to come.
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