Mark Carolin

Posts Tagged ‘Rebate Program’

There are many cash back rebate credit cards out there that pay you 5% back (at least for a while) on your gas purchases. There is a way you can turn that 5% card into a 30 percent card by using a simple strategy.

First step is to get a cash back rebate gas card. There are many that you can find. Some are issued by the gas station companies themselves and others are by the big bands. You can find them easily by searching for gas rebate credit card or cash back gas credit card in Google.

As I mentioned you will find two types, those issued by gas companies like Shell or Exxon and those issued by banks or financial companies like Chase or Discover. Usually you will find that the gas company cards will have higher rebate amounts for longer periods than the cards issued by banks.

When you have your cash back or rebate card then it is time to implement the other part of the strategy. The strategy consists of combining two different rebate offers to create a larger one. To do this we will use a customer loyalty rebate.

A customer loyalty rebate, is a rebate program that pays you for staying a regular customer of the gas company that you designate. For example, if you pick Exxon, then you will be rewarded for doing all your gas shopping at Exxon.

You will have to pick one brand or one gas company so you want to use the same gas company you have a rebate card from if you have a gas company issued card. If you have an Exxon credit card, then you want to use Exxon for the customer loyalty rebate.

The customer loyalty rebate works like this. You register with the rebate company and tell them the gas company you will be using. Then you save your gas purchase receipts each month. When you accumulate $100 in receipts you will send them into the rebate company. Soon you will get back a $25 prepaid Visa Card.

You spend $100 on gas and get back $25 from the rebate company. That is a 25 percent rebate. Now, if you paid for the gas purchases with your rebate gas credit card, you will be getting your 5 percent rebate for that.

You are getting a 25 percent rebate from the customer loyalty rebate program and you are getting a 5 percent rebate from the credit card. That means that you are effectively giving yourself a 30 percent cash back rebate by combining the two programs. That is how you turn a 5 percent rebate program into a 30 percent rebate program.

Let’s take a look at several cash back reward credit cards.

One of the highest rated by a consumer services firm is an American Express cash back reward credit card. Designed for those with at least good, but preferably excellent credit, the cash back reward on these credit cards is exceptional.

Through this card’s rebate program, the cardholder will earn a varying cash award, depending on how much is spent in the past year. Purchases that are considered every day buys, such as at gas stations, grocery stores and
pharmacies, earn five percent back. Other purchases earn the cardholder one and one half percent rebate. The limit on the cash back reward for this particular credit card is $50,000 each year.

Common benefits of its other credit cards are included in this cash back reward program. These include a buyer’s assurance plan, a plan for purchase protection and travel accident insurance up to $100,000.

These cash back reward credit cards have no annual fee, with a six month zero percent introductory rate, not only for balance transfers but for all purchases with the credit cards as well. As long as the initial loan whose balance is
transferred remains unpaid the interest rate paid on its balance after the introductory period has run out is a low 4.99 percent.

The rate on purchases subsequent to the introductory period on this cash back reward credit card is 12.74 percent at this writing, although it is variable. While you can get a cash advance with this credit card, the rate on that
transaction is a hefty 22.74 percent. The payment grace period is 20 days.

Another of the excellent cash back reward credit cards is a Visa. This offer is for those who have very good credit. With this cash back reward credit card the cardholder earns a point for each dollar used for a purchase. The first purchase
using the card gives the cardholder 1000 bonus points. The accrual of 2500 points with this cash back reward credit card means a $25 gift certificate or check from the cardholders choice of retailer or merchant. With this card you can earn up to 60,000 points for the year.

This card’s zero percent introductory interest rate lasts for one year, on both balance transfers and purchases. The card has no annual fee. One of the things that make this one of the best cash back reward credit cards its additional
benefits such as insurance on auto rentals, its extended purchase warranties, and its travel accident insurance coverage of up to $500,000.