The Bank Cash Back card is undoubtedly one of the preferred credit cards in the US because it provides their clients with rewards in terms of cash back in every purchase they make. It has several advantages which will really make your everyday life easier. What does the card really provide its users with? First, there's the actual cash back credit card which lets its users have instant cash on their card whenever they make a purchase. This card gives out reward points, much like the conventional credit cards but with better and more convenient options for their users. And then there are also other options which their clients can avail depending on what their needs are.
For those who prefer getting their rewards from the bank, the cards which come in the US Bank Cash Back category come with statements which allow their clients to earn and use rewards even without having to make a single purchase. It is actually a great option especially if you don't have that much cash at hand. Another option that their clients can take advantage of is the annual fee-free category. It may seem less useful compared to the cash back category but if you're going to use your card more frequently, the annual fee-free statement credit card will be more beneficial to you.
Now let's talk about how this works. If you're going to earn cash back with the US Bank Cash Back category every time you make a purchase, then you need to make sure that you make purchases within the credit score categories which the bank has set up for their clients. These credit score categories are as follows: Preferred Rewards, Standard Rewards, All Other Rewards, and No Annual Fee. These credit scores are to be seen as the “standard” for credit score, which are used by financial institutions and other lending companies to evaluate your capacity as a borrower as well as your capacity as a seller. It plays a big role in the US Bank Cash Back program. It shows the earning capacity of the account holder.
There are various types of rewards that can be earned with the US Bank Cash Back cards. Some of these rewards are as follows: gas rewards, movie passes, air miles, and the like. They earn reward points which can be later redeemed for cash back or merchandise and the like. To be able to redeem reward points, one needs to have a US Bank checking account which is linked to a US Bank Debit Card. This is to facilitate the cash back transactions.
Aside from earning rewards, cardholders must also know the “terms and conditions”. This is very important so that they won't get into trouble in the future. One of these conditions is regarding the earning capability of cardholders. It is stated in the terms and conditions that cardholders must earn at least 5% more than the amount of the reward that they get. The earning capability varies from card to card and depends on the banking institution that the cardholders have. One can earn cash back only up to the limit that is stated in their terms and conditions.
Another condition is about the purchases made with the Chase Card. Cardholders are required to abide with all the rules and regulations of Chase because it is an authorized bankcard of Chase bank. Cardholders must know that they are limited to cash rewards for purchases made with the Chase cards. There are also certain terms and conditions which they need to know about the usage of the card. One of these is about the usage of the card to meet expenses and emergency requirements such as travel, medical, car rental, entertainment, and others.
With the US Bank cash back program, cardholders must learn how to use the perks of their card wisely. They should know how to maximize the use of the rewards and the benefit that comes with it. In addition, cardholders must be aware that they may not avail of the benefits completely and the card will be rendered useless if they do not follow the rules and regulations. By being knowledgeable about the program, cardholders can use it more efficiently and can earn cash back more effectively.
With the use of credit cards, cardholders must know about the eligibility requirements. If they have a good payment history with their current creditors, Chase would not require them to undergo credit check. Otherwise, the cardholders must obtain approval for Chase through the normal means first. After getting approval, cardholders must start using the rewards and the program. One thing cardholders must remember is that they must not spend more than their intended spending to ensure the maximum benefits of Chase. In addition, they must learn to become more responsible in using their credit cards so that they will earn cash back and not get into trouble with their creditors.