I was pleasantly surprised to learn Green Dot reviews the banking landscape daily to provide a better experience for their customers. One thing that I have always been very interested in is learning more about cash back credit cards. While most have heard of these cards, few truly know how to get the most benefit for their dollar. The Green Dot unlimited cash back card is proof positive that a person can spend like normal and save like crazy! Today’s blog will help explain how cash back credit cards work based on my personal experience.
A cash back credit card allows you to get more cash in their account by providing a certain percentage of what was spent. Standard rates of return on purchases are 1 percent, however I read Green Dot reviews that show that their card offers the ability to earn back 3 percent on online and in-app purchases. It’s clear that a good card should help a user cover their expenses, build credit and grow their savings.
The first step in acquiring a cash back credit card is signing up. It’s important to have a strong grasp of spending habits as this will impact the best card for your needs. For instance, Green Dot has certain cards that are linked to Walmart. Frequent Walmart shoppers would benefit from signing up for this card. Sending out multiple applicants for cards can lower a credit score, so it’s suggested that users narrow their focus before applying.
The most important thing to understand about a cash back credit card is the annual percentage rate. An APR is the annual rate of interest on the card. Of course, it’s ideal to pay a balance on time monthly, but it’s important to understand the penalties should their come a time where a credit card holder is behind on payment. Green Dot reviews show that their card provides control over a credit limit as whether a person put down $200 or $5000, their credit limit is equal the amount of the refundable security deposit. You can spend within their credit limit and then pay their balance monthly, just like a regular credit card.
Most cards will allow a user to earn points. However, most cards have a cap on points that can be earned. Reading through Green Dot reviews it shows that there’s unlimited cash back for those who utilize their Green Dot card to shop as they normally would. There are also usually fees associated just to maintain a card. Credit card companies will often look at these cards as offering perks, which require an annual payment just to maintain. Green Dot has no hidden sign-up fees and pays users $50 just for signing up.