Credit Card Rewards: Cash back vs statement credit? : r/Frugal

The mathematically correct answer is cash back as you can ear rewards on the cash rewards again. But in realist it doesn't matter. For example. Let's say your card has a 1% reward. If you spend $10,000, you would get $100 as statement credit. End of story.

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

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Does It Personally Matter If You Get Cashback As A Statement Credit …

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On other cards sometimes I apply the cash back as a credit and other times as a direct deposit. ... that only works out to about 0.25% extra before you’d need to pay that money for your credit …

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Cash Back Vs. Statement Credit: Understanding The Difference

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Most times, your card gives you pointsfor your purchases. These points may be acquired at $1 per point, or extra points may be awarded to specific categories. Points can be redeemed for a number of offers. Sometimes it is for goods or services from affiliate partners. Other times it may be for travel benefits like flights, or hotel credits, free ni...

financialfreedom.guru

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

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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 …

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Cash Back Vs Statement Credit: Does It Make A Difference?

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If you have a Sapphire card, those are not very good redemption options. However, if it were the Citi Double Cash, that would make a difference. You get 1% at the time the transaction posts, …

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Cashback Vs. Rewards Credit Cards: Which Is Right For You?

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If you’re renting in Canada, use Chexy to pay rent and bills with your credit card and earn elevated rewards – especially if you have a credit card that earns up to 4% back in recurring …

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Should You Go For A Rewards Or Cash Back Credit Card? | Money.ca

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Overall, the annual fees for cash back and rewards cards are comparable, ranging from $0 for basic no-frills cards, to $120 or $150 on average for higher-end cards, to $500+ for truly …

money.ca

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How To Handle Cashback As Statement Credit : R/ynab - Reddit

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For example, I pay $100 for groceries on my credit card. So $100 moves from my groceries budget and becomes available for payment on my credit card. However, I then cash in $25 in …

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FAQs about Credit Card Rewards: Cash back vs statement credit? : r/Frugal Coupon?

Do credit cards give cash back rewards?

If you’ve ever received cash back rewards on a credit card, they might come in the form of a statement credit. Instead of giving you rewards or money directly, credit card companies may offer to add the amount back to your account balance. ...

What is a cash-back credit card?

Cash-back credit cards are a smart way to earn rewards on everyday spending and can provide a tangible return in the form of cash that can be used for future purchases or even to help pay off your credit card balance. These cards could be considered the most flexible option because cash can be spent on anything. ...

What happens if I return a credit card?

When this happens, the returned amount will be added back to your card account balance as a statement credit. 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. ...

How does a credit card statement credit work?

That statement credit is then applied to the next $250 in purchases you charge to your card after receiving the bonus. Many rewards credit cards will let you redeem your points, miles or cash back rewards as statement credits toward different purchases. ...

Are rewards points better than cash back?

In the battle between rewards points vs cash back there is no clear winner for the best regular earn rates. Since both types of cards can feature accelerated earn categories, you need to assess where exactly you spend your money to figure out which card will be the biggest earner for you. ...

Do credit cards offer rewards?

As you research credit cards, you’ll find that they typically offer rewards in two ways: cash back or rewards points. With cash-back cards, it’s relatively easy to understand how to earn and redeem rewards. ...