Is a cash back credit card right for you?
While the opportunity to earn cash back may sound appealing, cash back credit cards aren’t for everyone. A cash rewards credit card is ideal for you if you:
- Pay your balance in full every month. Paying interest on a cash back credit card can add up quickly. Spending money on interest negates the rewards you’ve earned on your credit card.
- Can responsibly use a credit card often. Earning the maximum amount of cash back rewards means using your credit card as frequently as possible. However, you should spend only what you can afford to pay back and use your income to pay off your credit card balance rather than to make additional purchases.