Cashback is a reward where credit cards return a percentage of your spending as cash, statement credit, or check. Standard cashback cards offer 1-2% on all purchases; category cards offer 3-5% on specific categories (gas, groceries, dining). Top cards: Citi Double Cash (2% on everything), Chase Freedom Unlimited (1.5%), Wells Fargo Active Cash (2%). Cashback is best for spenders who don't travel — points programs typically offer higher value per dollar but require strategic redemption. Always pay your statement balance in full each month; cashback worth 2% is worthless if you're paying 22% APR on revolving debt.
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Cashback
August 22, 2026 · Aditya Gupta
Personal Finance
Related terms
ACH Transfer
ACH (Automated Clearing House) transfers move money electronically between US bank accounts via the ACH network — direct…
Adjustable-Rate Mortgage
An adjustable-rate mortgage (ARM) starts with a fixed introductory rate (typically 5, 7, or 10 years), then adjusts…
Auto Loan
An auto loan finances a vehicle purchase, with the car serving as collateral. Standard terms run 36-84 months;…
Automatic Bill Pay
Automatic bill pay is a service that pulls funds from your account on a scheduled date to pay…
Balance Transfer
A balance transfer moves credit card debt from a high-interest card to a card offering a 0% promotional…
Bank Run
A bank run occurs when many depositors simultaneously withdraw their funds, fearing the bank will fail. Banks operate…
