Can You Do Cash Back on a Credit Card?
Depends on Your Card Type
– Not all credit cards allow cash back; check your card’s features.
Cash Back on Purchases
– Many cards offer rewards as a percentage of your spending.
Cash Advance Option
– You can withdraw cash, but it comes with high fees and interest.
Redeeming Cash Back
– Cashback rewards can be applied as a statement credit, direct deposit, or gift card.
Cash Advances Cost More
– Unlike cashback rewards, cash advances have high interest rates and fees.
Limits May Apply
– Some cards cap the amount of cashback you can earn or withdraw.
Check Your Card’s Terms
– Read your credit card’s policy to understand cashback options and fees.
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