Cashback rewards are currently the most popular type of credit card, having originated in the late 1980s with the Discover card. These cards offer users a percentage of their spent amount back as cash, which can be redeemed for various purposes. Unlike travel rewards, cashback allows users to effectively lower their balance by receiving 'free' money. While cashback occurs after purchases are processed, it differs from debit spending as it does not provide immediate rewards. With potential earnings in the hundreds or thousands annually, finding the right cashback card is beneficial for cardholders.
The most popular credit card type right now is undoubtedly the cashback card, rewarding users with a percentage of their purchases back as cash across every transaction.
A cash-back credit card is a type of card that gives you a reward value percentage on every purchase you make, which can be redeemed for credits or deposits.
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