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What is a Cashback Bonus?

I’ve been reading about Credit Cards and how they’re offering Cash Back Bonus, like get 5% Cashback Bonus but I don’t really know what that means.

I read about one where you get a $50 cash reward for any purchase within a month your account is open but it’s in this $50 Cashback Bonus.

What is Cashback Bonus with a credit card?

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This entry was posted on Sunday, November 27th, 2011 at 12:53 pm and is filed under Cashback Credit Cards. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Comments »

  1. Comment by cantarloca — November 27, 2011 @ 1:24 pm

    it means you get 5% in cash back to you for every dollar you spend using the credit card. they sometimes have stipulations on what the money is being spent on. usually you get a check once a year or so.

  2. Comment by Cold — November 27, 2011 @ 1:29 pm

    Lets say Chase is offering a card with
    5% cash back on quarterly bonuses
    and $50 sign in bonus.

    For the $50 bonus, you need to spend a certain amount in 2 or 3 months.
    That amount might be $500.
    After you spend the $500 you will see a statement credit for $50 after 30 days on your statement.

    5% cash back on quarterly purchases.
    That means that if they are giving you 5% for gas, you get 5% cash back.
    Ex: Spend $100 a month in gas, you get $5 back
    There are quarterly maximums on the cash back you can get
    Any more questions, just ask..

  3. Comment by StephenWeinstein — November 27, 2011 @ 1:51 pm

    A 5% cashback bonus means that they give you $5 back for every $100 that you spend on certain things.

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