Credit card cash back Calculator is a free online tool that calculates cashback rewards. It is the best cashback calculator to calculates 2 cash back, 2.5, 5, 1.5 percent cash back, 3 percent cash back, 0.5 cashback, money back, discount, business credit card rewards, etc.
This is a great cash back calculator tool to find and calculate credit card rewards and to find the best creditcard reward card deal. This tool is very easy to use and is free
Can you get cash back on a credit card
Cashback credit cards is a form of reward scheme programme, which rather than giving points, you get rewarded with cash, tax-free, every time you spend on the card. Cash is totally flexible, you can spend it on anything and it is easy to compare, so it comes up trumps for almost everyone. You can easily calculate it using cashback calculator.
how to get cashback on a credit card
To use this tool to calculate your cashback reward, enter the purchase amount and the percent cash back. if the reward card has limit, enter the limit value before clicking on cashback calculator to calculate.
Do's and Dont's on cashback calculator
Use your cashback credit card for your normal spending
You have to repay in full every month
You need to sort out debts before going for cashback
Don't use cashback cards to withdraw cash
Don't use the card to set up recurring payments
Avoid balance transfers on a cashback card
The best way to pay off in full each month is via direct debit. It allows the card provider to take a variable monthly amount to correspond with what you owe it .
Some providers deliberately omit the pay off in full option from direct debit forms, as it means they will make less money. If so, just write in pay off in full yourself. The firm should honour it, but call after a week or so and check if the have honoured it.
If you do this, you have succeded in making your credit card a debit card, but one that pays you every time you spend on it. Always make sure you have enough cash in your account to cover the direct debit.
Please try to always stay within your credit limit, else you will pay charges for busting your limit, which can often be around �12 each time or more.
What is cash back
Cash back creditcard reward program is a reward scheme which started out rather simply by offering a flat percentage rate of typically 1 percent of purchases which is rebated back to the customer in the form of a check at the end of each year.
The economics of these offers forced many banks to dilute the real value with tiered earning structures which paid a fraction of 1 percent for purchases below a very high dollar threshold like $2,500 per month.
This structure is common among many of the cash back credit card reward issuers, but there is some notable standouts that shine in terms of generous earning opportunities and simplicity.
For instance some rewards program pays a flat 5 percent on all grocery, gasoline and drug store purchases and a full 1 percent on all other purchases, regardless of spending amount.
But in the case of the simple programs, the bank merely calculates the flat rate against all spending or different rates for certain category purchases and prints the earned amount on each month billing statement. Once the amount reaches $100 the cardholder can call to order a check.
Complex programs can be confusing since the banks rarely show which purchase amounts earned cash back at which tiered rates. A single earned amount is generally reported on statements or is available upon request to their customer service department.
The common thing seems to be the requirement for the cardholder to order their reward check rather than it being automatically mailed, as was the case in previous years.
This requirement generates what is know as breakage in industry parlance and means increased profits when consumers fail to collect their earned rewards.
how do credit cards work
A credit card helps you build good credit history, make convenient payments and meet everyday expenses in your life easily
Understanding how credit cards work can teach you about the benefits of having one over a debit card. Knowing easily how credit cards work provides useful insight on managing your debt more easily and responsibly.
Credit cards offer you a line of credit that can be used to make purchases, balance transfers and/or cash advances and requiring that you pay back the loan amount in the future. When using a credit card, you will need to make at least the minimum payment every month by the due date on the balance. If the full balance for purchases is not paid off, interest charges will be applied. Interest charges will be applied from the date of the transaction for balance transfers and/or cash advances.
This can also be used as discount application for calculating shopping discounts, coupon off, body fat, gross profit, weight loss, love, tax, population increase & decrease, sales profit. Once you know the values, to determine the % is easy .