With most credit card cash-back rebate programs, the dollar value of a cardholder's purchases is converted into a certain number of points. For example, someone might earn two points for every dollar spent on credit card purchases. The points are then converted into cash reward values. For example, someone who earns 1,000 points might be eligible to receive $25 back. Some cash-back rebates have expiration dates (for example, three to five years after they are earned) after which they are no longer available. Some credit card companies have a limit on the rewards that can be earned annually. Credit card companies are free to set their own cash-back rebate program terms and change them with adequate notice to cardholders.
We would like your feedback on this Personal Finance Frequently Asked Question.
