I have to admit that I own a credit card. Most folks are owned by their card but I am fortunate in that I have been able to pay mine off in full every month for the past 14 years. I have a reward card that gives me points for using the card and I can cash those points in for cash. I recently di that and received $387.00 back. I know the credit card company has to hate me.
For the majority of folks offering cash back is not a money making scheme for the consumer but a gimmick to get you to go into debt faster. After all I can afford to give you 1% back if I charge you 18.9% interest plus late fees. Some cards charge you just to carry them around. What kind of deal is that?
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