What is Cash Back on a Debit Card?
If you’ve ever wondered what is cash back on a debit card, you’re not alone. Many consumers have a similar question. You may be wondering, too, if cash back is worth having on your debit card. After all, it’s not as much fun to receive the money as it is to get it, and it’s not always easy to find out just how much cash back you can earn on your card. This article will discuss why cash back on a debit card is worth having.
In a word, yes. It’s worth mentioning that some purchases don’t qualify for cash back. Most credit card issuers and card networks have regulations governing cash back. For example, Visa Core Rules restrict cash back transactions to $200 in most of the world. Your issuing bank might set a lower limit. The latest information comes from the 2022 Chargeback Field Report, which surveyed 400 merchants.
While credit cards tend to receive more attention, cashback debit cards are more popular than you might think. These cards allow you to earn money on purchases made every day. Unlike credit cards, they have no fees, so you can actually use them to pay off debt. If you want to take advantage of cashback on a debit card, it may be a good idea to look for one that gives you the most rewards.