what does 5% cash back mean?

[Semidevil]

so my credit card has 5% cash back. Now what does that mean/? does it mean I get 5% off my montly bill? do they send me a check at the end of the month worth 5% of my purcases??

 

[JonTheBaller]

Depends on the company but usually 5% check after a certain period of time and/or a certain accumulation of rewards.

 

[RossMAN]

Which credit card?

 

[Ameesh]

!!! look at the details of the offer that your CC has on their website or call them up and ask them.

 

[Kevin]

Usually annually, semi-annually or quarterly (depends on the card) you'll get a check in the mail that will equal 5% of your total spending on the card...

 

[BrunoPuntzJones]

Doubtful of the 5%

It's probably only at certain stores, and probably limits.

Like 1-10,000 is 1% back
20-50,000 is 2% back
50,000-100,000 is 5% back

nothing over 100k

That's how most tend to be

 

[Yossarian]

I have a Visa that gets me 5% off aviation stuff--I log onto the website, checkmark the purchases that are eligible, then the next month they automatically credit the 5% to my account.

 

[DaveSimmons]

It means that every 14 weeks they send you a box of smoked salmon with a vaule equal to or greater than 5% of your purchases for the previous 14 weeks. Some companies offer subsitiutions of fresh tuna or smelt shipped in dry ice.

 

[Nocturnal]

Paypal gives like 1% of each thing you buy with your debit card back. I've earned multiple cents from my Paypal debit card.

 

[RossMAN]

Every credit card and credit card product pays their % rebates differently.

Until we know WHICH CREDIT CARD, we're just pulling rabbits out of our arses.

 

[DaveSimmons]

> Until we know WHICH CREDIT CARD, we're just pulling rabbits out of our arses.

Penguins have a diet entirely of seafood, so I'm pretty sure Semidevil would have signed up for one of the fish-back cards rather than one offering beef or tofu. But it's true we'd have to RTFM to find out exactly what kind of fish are offered and on what schedule.

 

[RossMAN]

Originally posted by: DaveSimmons
> Until we know WHICH CREDIT CARD, we're just pulling rabbits out of our arses.

Penguins have a diet entirely of seafood, so I'm pretty sure Semidevil would have signed up for one of the fish-back cards rather than one offering beef or tofu. But it's true we'd have to RTFM to find out exactly what kind of fish are offered and on what schedule.

Tell me about it.

How f* difficult is it to RTFM or even *gasp* call your credit card's customer service *gasp* and ask them how the 5% rebate works?

 

[BrunoPuntzJones]

And on top of that, shouldn't he have figured out the card BEFORE he applied for it?

 

[randomlinh]

Originally posted by: Nocturnal
Paypal gives like 1% of each thing you buy with your debit card back. I've earned multiple cents from my Paypal debit card.

don't you only get it back if you use it as a credit card, not debit card? I used it as a debit card thinking that, but was not eligable for the rebate.... it said had to use it as credit (not that it matters much either way, it's just pulling from the paypal account either way). And i have used it as credit, and received my cash back