Cash back as a statement credit or deposit in my account? : r

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 spend, you only get $19.80 back instead of $20.00. So it costs you 20 cents for every thousand …

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

2 weeks from now

reddit.com

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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 …

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2%
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CC Cash Back Bank Deposit Or Statement Credit - Bogleheads.org

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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 …

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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 …

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US Bank Cash+ Redemption Question : R/CreditCards - Reddit

2 weeks from now

As others have said you need a minimum of $25 worth of rewards to redeem as a statement credit, so sometimes it takes me 2 billing cycles to reach that, not a huge deal. I like the card a …

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FAQs about Cash back as a statement credit or deposit in my account? : r Coupon?

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? ...

Can I redeem cash back as a direct deposit?

For example, the Bank of America® Customized Cash Rewards credit card allows you to redeem cash back as a direct deposit, but only if you have a Bank of America checking or savings account. Along with manually requesting a statement credit, check or direct deposit, a number of cards allow you to set up automatic cash back redemption. ...

How does a cash-back reward work on a credit card?

A cash-back reward on a credit card appears as a credit on your statement that decreases your card balance by the amount of your reward. To claim a statement credit, log into your credit card account via the online portal, select the cash-back reward you’d like to redeem, and apply it to your statement. ...

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. ...

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. ...

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. ...