Cash back cards are great for everyday spending.  I think of it this way, you’re getting cash back or points for money you would have spent regardless.  As long as you pay your credit card bill off in full every month, you’re going to take advantage of these rewards.  As you know, if you pay your bills off in full, you’ll be able to avoid those pesky interest rate charges.

I’m going to show you today on how you can redeem your cash back points and how it all works.  Since all credit cards are different, we are just going to create a fake credit card and show you the points redeeming process will work.

Let’s say you’re applying for a points-based credit card.  A cash back and points based card are different but in the long run, you’re able to redeem it for some sort of cash reward. 

Let’s look at the points based card that I’ve created:

• For every purchase you make at a gas station, supermarket, drugstore = 3 points
• For all other purchases = 1 point

Now, most credit card companies work the same when it comes to points redemption.  You’ll be able to log into your account and see your point total.  Companies like Citi(r) Bank will allow you to use those points for just about anything.  From airline tickets to gift cards, you can get anything. 

Let’s say your spending for a family of 4 looks like this for 3 months:

• Gas purchases ($100/week) for 3 months = $1200 = 3600 points
• Supermarket ($150/week) for 3 months = $1800 = 5400 points
• All other purchases ($50/week) for 3 months = $600 = 600 points

Now, the spending up here looks like any typical family of four.  The points up very quick just doing everyday spending and this doesn’t even include bills.  Adding your bills to your credit card will rack up the points fairly quick as well.  Now, for the total of 3 months, we’re going to have 9600 points.

Most credit card companies vary when it comes to using their points but for example, with one credit card company, you can get a $50 amazon.com gift card for as little as 5,000 points.  So, for all of that spending, you’re able to get almost $100 worth of amazon stuff!

Cash back cards are a fantastic way to get cash back with your spending.  Just be responsible and it’s like getting rewarded just for using your card.

If you’re in the market for a cash back credit card, I created a quick little guide that will tell you exactly how much you’re going to get back on your purchases.  Most credit cards will give you a certain amount of cash back depending on your purchase.  It looks as if you get the most back when you use your card at a gas station, supermarket, or drug store.

Citi CashReturns(SM) MasterCard – 1% cash back on all purchases / 1.2% cash back for first 12 months.

Chase Freedom(SM) Credit Card – 3 points on grocery, gas, convenience and 1 point on other purchases.  For every 5,000 points, you’ll get $50.  Get 5,000 points after your first purchase.

Blue Cash(r) from American Express(r) – 5% cash back on supermarkets, gas, and drugstores.  Get 1% on everything else.

Clear from American Express(r) – Simply get $25 for every $2,500 spent.

Financial Rewards(r) Visa(r) Platinum Plus(r) – For every $100 you spend, you get 1 point.  Every 25 points, you get $2,500.

Discover(r) More(SM) Card – Get 5% cash back in travel, home improvement stores, department, gas, restaurants, and more.  Get 1% back on other.

Total Merrill(SM) Cash Back Visa(r) Card – 1% cash back on virtually everything.

One from American Express(r) – Get 1% cash back on everything.  That 1% goes into a FDIC savings account that will return 2.75% APY as of 10/2/2008.

Welcome to the new FINDcashbackcards.com blog.  Here, you’re going to get daily deals, cash back tips, and information on the best cash back cards on the market.

Some of things you may see are like the following -

Let’s say a 30GB hard drive is on sale.  We will link to the source and from there, we will tell you how much you can potentially save if you use a particular credit card.  Most credit cards vary.  From 1% to as much 20%, you can really take advantage of cash back cards.

Keep following the blog for more details!