Friday, December 17, 2010

Cash Back Rewards Cards - Will Credit Or Debit Cash Back Card Work Best For You?

Cash Back Rewards Cards - Will Credit Or Debit Cash Back Card Work Best For You?

By Ven North

Yes, you heard me right! Since a few years back there are on the financial marketplace both credit and debit cash back card options! And if you are looking to make the most of your money, then getting one or more of the cash back rewards cards, credit or debit, certainly makes sense. Just which ones to pick? I'll go into two possible scenarios why picking a debit cash rewards card might work better for you. Two scenarios are: first, you shun credit cards as you have previously gotten into trouble using them before, and second, you might have bad credit rating.

Do you shun credit cards?

If purchasing with credit cards got you in trouble before, then a debit card with cash back might be a better option for you. You may be sick and tired of paying exorbitant late payment fees, and being switched to super high "penalty" interest rates for being late with a payment or two. You might have gotten out of credit card debt and cut up some plastic, promising to yourself never to fall for a credit card again?

I understand. You are doing the right thing. You are showing responsibility by saying "no" to over spending, and "yes" to living within your means. There is a certain peace in knowing that you have no credit card debt. You can feel special like that. Not many people in this country can say that they have no credit card debt.

Well, if you are like that, you can now celebrate to know that you can continue to be responsible with your finances, continue to use a debit card instead of credit, and still earn cash rewards, just like your friends with their massive credit card debts!

Has your credit card application been declined?

You may, for one reason or the other, been declined a credit card application. But there is hope! You can still get a debit cash back card! To get a debit cash back card, just make sure that the issuing bank has branches near you, then just walk in with your information, some cash to fund the debit card, and you could be the newest proud owner of the debit cash back card. This is a brand new trend, by the way. The bank will still check your credit rating but your credit rating does not have to be stellar to be qualified for a debit cash rewards card.

Finally, let us remove one confusion regarding debit cash back cards. With debit cards, getting cash back used to mean going to the grocery store, paying with the debit card, and requesting $20, $40, or more "cash back". Well the new "cash back" is not the same! With a debit cash reward card, you will now be credited the actual money back into your checking account. Getting "cash back" will not mean taking the cash out of the account!

See here how you can get your new cash back debit card.

For additional info on credit and debit cash back rewards cards, visit

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