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Some Credit Cards Give Cash Back To Customers

Choose Credit Card Carefully, Read Fine Print

POSTED: 2:56 pm EDT May 8, 2008
UPDATED: 5:36 pm EDT May 8, 2008

Gas prices are sky high, but a Murrysville man has found a way to take the sting filling his gas tank.

Len Bach said, "I look at it like I'm getting a much better price per gallon ultimately and it comes back to me in the form of cash."

Bach is talking about his BP VISA credit card.

It gives Bach 5 percent back on all his gas purchases and that can add up.

Bach said, "I probably spend $400 a month on gas, that's $4,800 a year."

And that means he back $240 a year in cash.

Bach said, "I usually call them which is easy. You get a live person, tell them 'send me a check' and within 8 days I have the money."

BP isn't the only credit card to give cash back.

The CITI professional cash card gives 3 percent cash back when it's used at restaurants. Plus one percent cash back on all other purchases.

And Discover's More card gives a 5 percent cash back bonus in categories that change four times a year. So if you charged $10,000 on a card that gives 5 percent back, you'd get $500 in cash.

These cards make the most sense for people who pay off their entire credit card balance each month.

Also, read the fine print before signing up.

On many credit cards the cash back reward doesn't kick in until a certain amount is charged on the card.



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