Are cash back credit cards the most dumb deal?
by Author on Friday, July 16th, 2010 | 2 Comments
Whose money is it in the first place.
Big deal, they give you back what they added on originally.
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Depends on how you handle credit. If you carry a balance, then the best bet for you is finding the lowest interest rate possible (and maybe this is what you mean by "added on originally"). If, however, you pay the total balance monthly, then cash back cards make sense. Credit cards only charge the user if they carry a balance.
We use credit cards for most things and don’t carry a balance so we’re using someone else’s money for 30 days and its suprising how quickly the cash back adds up.
So what’s the alternative, use a non-cashback card and don’t get back what the merchants add on? You do that. I’ll stick with my "most dumb deal."