Cashback Credit Cards
Most credit cards offer some kind of rewards program, but fewer rewards are more enticing than cold hard cash. Enter the Cashback card.
Cashback credit cards offer a lot more flexibility as far as rewards are concerned. Instead of having to keep track of rewards points which could expire after a specified period of time, the rewards of a cashback credit card are simply credited to your account or paid through a cheque or a voucher.
| Credit Card | Card Details | Annual Fee | Interest Rate p.a. | Cash Advance Rate p.a. | Balance Transfer Rate p.a. | Interest Free Days | |
|---|---|---|---|---|---|---|---|
 Citibank BP Card | 5% off petrol at BP. 0.5% cashback for every other purchase made on the card. | $79 | 20.89% | 20.89% | 1.90% p.a. for 12 months | Up to 55 days |  More Info |
Cashback cards are similar to other rewards cards in that you accrue points each time you make a purchase. The amount of the rebate or reward depends on the amount of your spending, the terms of the cash rebate program, and your account status.
Cashback credit cards generally vary in the benefits that they offer. Some don’t just give you rewards as cash rebates but also give you the opportunity to get other perks like vouchers, discounts on dining, entertainment, travel expenses and even frequent flyer miles.
Most cashback credit cards offer a 1% back on all kinds of purchases, and around 2 to 5% back on some purchases which fall under specified categories. There are also some cashback credit cards that offer a tiered cashback program. This type of cashback program usually offers a higher percentage of cashback when you spend a certain amount of money in a specified period of time. This means that the higher you spend on your card, the more money you are able to earn back.
Overall, cashback credit cards offer a great way of receiving rewards for the purchases you make. If you usually spend a lot, getting a cashback credit card would be an excellent way for you to recoup some of your hard earned cash on each purchase you make.