Getting Cash Back For Using Your Credit Card

Getting Cash Back For Using Your Credit Card

I don't care what anyone says, the notion of getting a few percentage points worth of the cash you spend on your credit card back every month is a great idea and something I think is one of the more customer friendly things that credit card companies have developed in a long time.  I know that it does my heart good to see that 3% or 4% come back to me at the end of every month and it also makes paying my bill just a little bit easier.  To some people the idea of getting $800 back if you used your credit card for $20,000 in purchases in a month may not seem like a lot, and in reality it probably is not a whole lot of money compared to what you spent, but it is the idea of getting cash back from your credit card company that sits so well with me.  I am certain that is what the credit card companies were thinking when they developed the plan in the first place.

I used to do a lot of business with credit card companies so I know that, as rich as credit card companies can seem, not all credit card companies work in gold plated buildings with pure silver door handles.  Being a credit card company is tough work and sometimes the profit margins can be in the low single digits.  So when a company decides to give you back a little of what you spent that can be a big deal for them, especially if you are the kind of customer who pays their bill in full every month.  Credit card companies count on you paying in monthly installments and having to pay their interest and service charges.  If you ever wanted to know the secret to upsetting the credit card companies that secret is to pay your bill in full each month.  Man they hate that!

---

Orignal From: Getting Cash Back For Using Your Credit Card