5 Easy Ways to Earn Cash Back on Your Credit Card

Are you applying for your first credit card? Or you might not know much about cashback that you can earn rewards when you use your credit card. Read on to learn more about how you can earn cashback after you sign up for a credit card that has this reward system in place for people.

What is Cashback?

Have you ever heard of cashback? Credit card companies offer cashback when you sign up for one of those rewards credit cards they have.

You can earn a certain percentage of the money you use on your credit card. Of course, specific credit cards will give you the chance to earn more money back when you buy with their card whenever you are enrolled during promotions or purchasing items on their online shopping portal.

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How Does Cashback Work?

Have you ever used a cashback rewards credit card? You can receive certain cash back percentages when you shop at certain stores, restaurants, grocery stores, and other stores that your credit card offers special cashback on.

It is important to always research the types of cashback rewards that certain credit card companies offer you as well as store credit cards. You never know how much you will save by using these types of cards in stores you usually frequent each week or month.

However, despite how awesome this sounds, there is always a catch.

Sometimes there is a limit to how much you can receive cashback when you buy items during specific promotions or quarterly rewards programs. This means that you might get an offer of 5% cashback at a certain grocery store, but there could be a quarterly limit that only allows you to earn $1,500.

You should always read all the terms and conditions that come with your card because it will save you from using your credit card after your promotion is over.

It might not be in your best interest to always use your credit card after the promotions are over.

Plus, you can find out all the other rewards that your specific program offers you that might not always be in big, bold letters. Sometimes they hide those in the terms and conditions portion, so always be aware of what kind of rewards are available to you.

Top 5 Retailers Offering 5% Cashback?

Have you wondered which retailer offers 5% cashback? Those who regularly go to one store or more stores can take advantage of this special offer.

This can make you earn more money than using other credit cards that don’t offer this type of cashback card you are using. Here are the top 5 retailers that offer 5% cashback for certain credit cards:

• Amazon

• Walmart

• Target

• Lowe’s

• Kohl’s

Amazon and Walmart

Certain Discover credit cards, including the Discover it Cash Back are currently offering a 5 percent cash back for Target, Walmart, and Amazon from October to December only.

However, like most special offers such as this, there is a limit of using the cashback until you reach $1,500. You can still get a 1% cashback on other items you purchase at other places during this time as well.

Target

Another alternative is getting Target REDcard since this card is offered for Target customers. You can get a 5% cashback when you purchase items in the store or on their website.

This means you can use the other Discover credit cards for Walmart or Amazon to take advantage of earning up to $1,500 with the 5% cashback.

Lowe’s

Lowe’s also has its own credit card that you can apply to receive the 5% cashback. Although, the difference with this card is that you can get 5% off on the day you purchase your items in the store. You also get a special bonus of $30 off your first purchase with the store card, but you can only take advantage of this offer one time.

The downside with Lowe’s Advantage Credit Card is the high APR that’s 26.99% APR, which means you will have a high-interest rate. However, a lot of store cards are like this, which means you should always keep up with your monthly bills.

Kohl’s

Do you shop at Kohl’s a lot? Kohl’s has a lot of great clothes, bedding, jewelry, and more than a lot of shoppers like to buy.

For Kohl’s, if you want to receive a 5% cashback, it’s a little different than the usual ones. Instead of the percentage, you get $5 for every 100 points you earn, which is called the Rewards Cash.

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Does Cashback Expire?

Cashback rewards don’t usually expire, but it really depends on the type of rewards credit card that you chose. Some don’t have any expiration dates at all when it comes to cashback rewards. However, the downside to Kohl’s store card is that the Rewards Cash will expire in 30 days after you receive the $5 or more.

Therefore, if you like getting this type of reward, you might want to take advantage of it right away.

Tips to Maximize Cashback

Choosing the right credit card that has any type of cashback reward can be beneficial in maximizing the amount of cashback you receive from a store, restaurant, or online purchase, any other place that you use your credit card.

Regular credit cards might not have any cashback specialties that will have you earning more money each time you purchase an item at a store.

Picking the right type of rewards card according to the expenses on your current credit card statement is essential in maximizing your cashback rewards since some of them have higher cashback rewards than others. You can also use your credit card to pay off your monthly bills since some of them might allow you to earn money according to your spending habits.

Also, using your credit card for everyday expenses such as gas, grocery store visits, and any other daily purchases can add up those cashback earnings.

You can still earn a lot of money by either by purchasing items at a retail store that offers 5% cashback or even any place that will give you 1% cashback since it adds up over time.

Of course, you can also receive sign-up bonuses when you choose some rewards credit cards. These can add up to high amounts of money such as $1,500 when you receive 100,000 points or so.

This can add up eventually into allowing you to buy things you wouldn’t be able to afford otherwise. However, when you take advantage of these sign-up bonuses, you should always make sure to pay off your whole monthly bill.

SUMMARY

If you go to any of the five retail stores above, getting a store card or a credit card that offers 5% cashback will allow you to earn money as you buy.

So, why not take advantage of this feature by applying for one of these types of credit cards today?

You can earn money as you buy your usual purchases getting groceries, personal items, or other products at these retail stores that can add up for saving money for Christmas presents or a special gift for yourself.