Tips for Earning Cash Back Rewards from Your Credit Card

When it comes to earning rewards for using a credit card, what can be better and simpler than getting cash back rewards? Compared to a travel-rewards credit card, a cash back rewards credit card lets you decide how you want to use your rewards instead of possibly being stuck applying points in those travel company loyalty programs.

Most cash back rewards credit cards give you cash back rewards on all eligible purchases. Every day expenses like trips to the grocery store, online shopping, utility bills, and recurring payments for gym memberships and the like, add up and are a great way to earn cash back rewards.

How can you responsibly use a cash back rewards credit card so that it makes sense for your lifestyle? Here are some best practices for using your cash back rewards credit card according to

Avoid adding new debt: Commit to paying off your balance in full and on time each month to avoid expensive interest or late fees. Accumulating interest and late fees offsets the cash you’re earning from your credit card. Also, determine if there is a service fee charged by the merchant or third-party payment platform for using a credit card. You need to decide if the extra fees are worth using the credit card in the first place.

Don’t overspend: You should always keep a budget. Whenever your spending starts to exceed the money you have available for a month, you’re inviting potential complications into your life. Sticking to a budget can help you from being blinded by the desire to rack up cash bac rewards. Does making a purchase that puts you $500 over budget, to earn $10 in cash back rewards, make sense?

Share your card wisely: An authorized user of your credit card can add to the cash back rewards. Make sure they are on the same spending plan and that they adhere to your budget. Keep track of their purchases.

Monitor your rewards: Do your cash back rewards expire? Is there a maximum to the amount of cash back rewards you can earn? Make sure. The RBFCU World Cash Back Mastercard® credit card never puts a cap on rewards and they never expire. You can cash them out and use them whenever you need, or just apply them as a statement credit.

Information in this article is general in nature and for your consideration, not as financial advice. Please contact your own financial professionals regarding your specific needs before taking any action based upon this information.

Membership eligibility is required. Credit cards are subject to credit approval. Rates and terms subject to change; other restrictions may apply. Contact the Consumer Lending Center for complete details.

Cash back rewards are an enhancement to the RBFCU World Cash Back and Business Select Mastercard credit cards and may be discontinued at any time. Program availability, rates and terms are subject to change. The Cash Back rewards program pays a reward for each qualified purchase completed with your Card. ATM withdrawals, Balance Transfers, Cash Advances, finance charges, fees and any other non-purchase transactions do not qualify for rewards. The cash back rewards are redeemable online, and payment of the reward may be made by direct deposit or as a statement credit. Cash rewards are forfeited if your Card is closed before redemption. We reserve the right to disqualify transactions that are not usual or customary and are apparently structured or intended to abuse the program. Abuse of the program may result in loss of rewards and Card privileges. We may add to, change, or delete any of the terms of this program or discontinue this program at any time at our sole and absolute discretion.