What are some creative ways to utilize your cash back credit cards

Cash back credit cards are a great way to earn extra spending money on various purchases. These types of credit cards can be used to pay monthly bills or to make an occasional big ticket purchase. Earning a cash back reward is a great way to save money without having to put money in the back. Spending cash back rewards can be done in a variety of creative ways.

Amazon Payment

Purchases on Amazon can now be made partially or fully with the cash back rewards that are earned on a Discover Card. This is a great way to buy a new camera or to reduce the price for an item. A user who has a $100 cash back reward balance on their Discover Card can reduce a $400 item to $300. Lowering the cost of an item means that less needs to be charged or paid with a debit card.

Buy Groceries
Monthly purchases on a cash back credit card may total $50 or more per month. This means the reward can be cashed in every three to four months to use for pay for a month’s worth of groceries. If a coupon is used to lower the price of various grocery items, then the cash back reward can go much further.

College Textbooks

Taking out a loan to for college tuition may not include the purchase of textbooks. Anyone that is short on funds at the start of the semester can use their cash back reward to buy textbooks. One thing to keep in mind is textbooks can cost up to $100 or more.

Medical Bills

Individuals who are required to pay a co-pay when visiting a doctor or dentist may choose to use a cash back reward from a credit card. This is a great way to avoid taking money out of savings or checking to make the payment. Make sure to see if the cash back reward can be transferred to a bank account. Most cash back rewards are mailed out a check that needs to be deposited.

Home Improvements

The amount of a cash back reward on a credit card may cover the cost of replacing a window, replace a section of gutter or any other small home improvements. Materials, such as caulk, nails, paint, brushes, and other items, can easily be paid with the amount received from a cash back reward. This will mean there is extra money available to spend on other improvements.

Give to Charity

Charities of all types are eager to receive funds. If a cash back reward is not needed, then it can be donated to a local charity. One benefit of donating to charity is that the amount is tax deductible.