personal-finance
Cashback Rewards
Percentage of purchases returned as cash or credit
Also known as: cash back rewards, cashback program, cash rewards
What You Need to Know
Cashback rewards are incentives offered by credit cards where a percentage of purchase amounts is returned to the cardholder as cash, statement credit, or points. Typical cashback rates range from 1-5%, with higher rates often applying to specific categories like groceries, gas, or dining.
Sources & References
This information is sourced from authoritative government and academic institutions:
- consumerfinance.gov
https://www.consumerfinance.gov/ask-cfpb/what-is-a-cash-back-credit-card-en-1997/
Related Calculators & Tools
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