There are plenty of other cash back credit cards to consider, though. You can start your search with WalletHub’s editors’ picks for the best cash back credit cards on the market. It’s good to compare multiple options before submitting an application, to ensure that you get the most bang for your buck.
The First Progress Platinum Elite Mastercard® Secured Credit Card
To get a First Progress cash advance, first off, you have to make sure you've got a PIN. If you don't have one, call them at 866-706-5543 to request one.
If you've got that part down, you can just go to any ATM that accepts Mastercard and withdraw cash. Keep in mind, the cash advance fees are super high, and the interest piles on right from the start. Only use it if it's an emergency!… read full answer
The First Progress Platinum Elite Mastercard® Secured Credit Card reports to the credit bureaus monthly, within days after the end of a cardholder’s monthly billing period. First Progress Platinum Elite reports the card’s credit limit, account balance, payment history, and more to all three of the major credit bureaus: TransUnion, Equifax, and Experian. First Progress may use a specific credit bureau more than another, depending on the applicant’s home state, and other factors.… read full answer
Once First Progress Platinum Elite reports your account information to a credit bureau, it may take a few days before the updates appear on your credit report. New First Progress Platinum Elite cardholders may not see any new credit account info on their credit report for one or two billing periods after getting a card.
Cash back is a benefit that gets you a discount for certain purchases. In the context of credit cards, cash back is a type of credit card rewards. You can earn cash back through signup bonuses for meeting certain spending requirements, or through ongoing rewards, as a percentage of the amount spent on qualifying purchases. Some credit cards also offer cash back anniversary bonuses in the form of statement credit for qualifying purchases.… read full answer
Cash back credit cards make for a great addition to anyone’s wallet because they provide a straightforward earning and redemption mechanism in a currency that cannot be devalued by a credit card company. The best cash back credit cards tend to be those that keep things simple by providing attractive flat earning rates across all purchases, or those that offer higher rates in your biggest spending categories. Cash back credit card rewards can usually be redeemed for statement credits, bank account deposits or paper checks, depending on the credit card company.
Other types of cash back
Some also think of getting cash from a credit card's credit line, like withdrawing cash from an ATM, as cash back. This type of transaction is considered a cash advance and should be avoided. Cash advances are extremely expensive transactions that are subject to fees and a cash advance APR that applies immediately, with no grace period.
Aside from credit card rewards and cash advances, cash back could also refer to money that you get at a store register when you’re checking out. But you can pretty much only do this when using a debit card to pay. The money is added to your purchase amount and debited from your bank account. Some stores have a limit on the amount too and not every store will let you do it.
Some car dealerships offer “cash back” when you’re buying a car, too. It’s basically just a rebate on the car. You can usually get it as a check or as a discount on your down payment.
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