Cash Back Credit Cards: Good or Bad Idea?

I really have to hand it to credit card companies when they make cash back sound like it's a great reward. Getting cash back from purchases makes it sound like you're getting money back and actually saving on the items you bought. Is it real? It's kind of like winning some sort of prize.

It's true that cards give you cash back, but the cash back is just barely 1% of what you spent. When I get a promise of free money, I want it to be actually more than just 1%! Getting cash back makes it sound like everything that you buy you will be getting money back, but that isn't the case. You only get cash back on some purchases. Those companies that promise that they 'do' give you cash back on every purpose will just squeeze off the tiniest bit on each transaction. If you want to know the truth, read the terms. We are in such a hurry getting free credit, we tend to be a little careless sometimes.

This is one tactic that gets people to sign up for the card. Everything always 'sounds' good, but in the real world it's far from what they hyped it up to be. The best thing to do if you have to have a credit card(personally, I think we'd all do better without one-unless we have the income of Donald Trump and have a card that has no limit) is to check out many different credit card companies and read the fine print.

Maybe you will be able to find a cash back card that has a higher percent return on your purchases, not many limits, and quick deposits every time you make a purchase with your card. Another thing you have to take under consideration is your credit rating. It has to be really good. Some credit card companies help people with low credit ratings, all it takes is surfing the net to find out. It's always a good think to check the Better Business Bureau, also. As on the Today Show on NBC one morning, there are many 'new' credit card companies out there pretending to be a company just to get your social security number.

So basically, it's up to you if a cash back credit card will be good enough for you. Just look at many different companies, and try to find ones that have at least 3% cash back, with not many limits. If your credit is bad, find one that will help you get back on track to having good credit.