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Credit Cards
Credit cards that offer cash rebates on your
purchases come with a bewildering variety
of terms and conditions. It pays to shop
around and compare. A given card may offer:
- a flat rebate percentage
- a rebate percentage that increases with your
total annual spending
- a rebate percentage that varies by category
of merchant or type of purchase
- a cap on total annual dollars rebated.
To maximize your rebates, it may be necessary
to carry several different cards and pay
close attention to when and where you use
them. Additionally, stay alert to changes
in the terms, conditions, and options associated
with each card that you already own.For example,
you might have two cards:
- Card A offers a flat rebate percentage on
all purchases, with no annual cap.
- Card B has a higher rebate percentage on
a few select categories of merchants, the
same percentage as Card A on all others,
and a cap on annual rebate dollars.
Accordingly, use Card B only
where it earns
the higher rebate percentage,
and Card A
elsewhere. When you reach the
annual rewards
cap on Card B, then use Card
A exclusively
for the rest of the year. |
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