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What Is Cash Back?

What Is Cash Back?

Submitted by • September 24, 2019

Cash back is a reward incentive program operated by credit card and debit card companies in which a percentage of the amount spent by the card holder is paid back to the card holder. The purpose of this program is to encourage use of the card; thereby the card holder is given benefits such as points, flyer miles or a monetary amount. The monetary benefit is usually known as the cash back. This benefit refunds a small percentage of the amount spent on each purchase or purchases above a certain dollar.

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Voted by ChangoA

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