Does it personally matter if you get cashback as a statement credit …

I’m not talking about coupons, discounts, or rebates. Those all “save” you money. I’m talking specifically a credit card issuer depositing cash into your bank account. Look at the Credit Card Competition Act of 2022. It’s specifically going after “swipe” fees, which will kill credit card …

2%
OFF

CC Cash Back Bank Deposit Or Statement Credit - Bogleheads.org

2 weeks from now

Jul 11, 2022 · If I take the "cash back" as a statement credit, my net credit card amount due is just $980, and so my cash back is 2% of $980, or $19.60. But if I take the "cash back" as a bank …

bogleheads.org

98%
OFF

Cash Back As A Statement Credit Or Deposit In My Account?

2 weeks from now

This is correct. If you use "statement credit" as your redemption option with Citi Double Cash, you effectively get 1.98% cashback instead of 2%. That means for every thousand dollars you …

reddit.com

$0.01
OFF

What Is Cash Back And How Does Cash Back Work? - Discover

2 weeks from now

Dec 4, 2024 · Each Mile is equal to $0.01. Starting at 1 Mile you can apply Miles as credit to your account to pay for all or part of your statement, for cash as an electronic deposit to your bank …

discover.com

$15000
OFF

Credit Card Rewards: Cash Back Vs Statement Credit? : R/Frugal

2 weeks from now

John elects to get statement credit. He has a bank account balance of $15,000. He spends $10,000 on his credit card this month and gets a bill for $9,900. He writes a check for $9,900 …

reddit.com

$150
OFF

How Does Cash Back Work? – Forbes Advisor

2 weeks from now

Dec 17, 2024 · Bonus Cash Back: Earn $150 Cash Back in the form of a statement credit when you spend $1,000 within the first 90 days after account opening Credit Score ranges are …

forbes.com

FAQs about Does it personally matter if you get cashback as a statement credit … Coupon?

How do you use cash back on a credit card?

One of the simplest ways to use your cash back is by applying it as a statement credit. This directly reduces your credit card bill, saving you money. Direct deposit. Many cards let you transfer cash back directly into a bank account. ...

Do credit cards offer cash back?

Many credit cards offer cash back, with statement credit as one way to redeem your rewards. If you redeem this way, the redemption amount should post to your account as a statement credit that decreases your card balance. But keep in mind that not every credit card offers the same ways to receive or redeem cash back. ...

Can you use cash back as a statement credit?

For example, if you were to spend $1,000 with a card that offers 1.5 percent cash back on every purchase, you’d earn $15 in cash back rewards. If you were to redeem this cash back as a statement credit, your balance would decrease by $15 to $985. It’s important to understand, though, that statement credits are not usually considered payments. ...

What is cash back credit card?

But what is cash back? Cash back is a type of reward from a participating credit card, debit card, or app that allows you to earn a percentage back in the form of cash on eligible purchases. Some cash back credit cards offer a standard percentage of cash back on all purchases. ...

What are cash back rewards?

Cash back rewards typically give cash back for a certain percent of the purchase amount, based on the spending category. You can redeem your cash back rewards in different ways, such as a statement credit. Many credit cards come with rewards programs like cash back that encourage you to use your card on everyday purchases. But what is cash back? ...

How do I know if my credit card has cash back?

Your monthly credit card statement will typically show how much cash back you earned and what was awarded to you in the last 30 days. Be sure to read the card issuer’s terms thoroughly to understand how and when cash back is awarded. The Citi Double Cash® Card is an example of a card that may not pay your cash back all at one time. ...