Im confused by the term cashback? I was looking through this website and apparently you get cashback? does that mean free money? lol I What is cashback. Cash back is a perk offered by many credit card companies on some of their rewards credit cards. Cash back refers to earning back a percentage of the money. Want to know what cashback is? On this page we cover everything you need to know, including how it works and how you can start saving money.
What is Cash Back? Share Article on LinkedIn. Rewards based credit card products like cash back are more beneficial to consumers who pay their credit card statement off every month. No it doesn't go on credit file, but lower take home pay reduces affordability. The last thing you should do is charge more than you can afford just to get more cash. Look at chat mag bingo instead as a bonus for the money you would spend regardless of whether you were earning rewards. This last benefit, a monetary amount, is usually known as cashback or cash back reward. Trending Now See our top 10 trending deals.