Finance Assistance

Each week you probably receive cash-back card offers in the mail. If you’re in the market for a cash-back card, follow these steps before making a choice:

Check the terms.
Before you sign up for a card, see how much cash you can get back and if you are required to shop at specific stores to redeem rewards. You can compare offers at www.bankrate.com and www.cardratings.com.

Mind the print.
Take a look at the card’s terms and conditions in the contract. There typically are nasty late-payment penalties as well as short grace periods and high default rates. Also, you often have to request your rewards—card companies typically do not automatically send you a check or gift certificate or credit your account.

Know the system.
Find out how many points you must earn to get $ 1 back. Many cards use confusing points systems. For example, 5 reward points for every dollar spent may not necessarily mean 5% cash back.

Check the payments.
Some cards only provide a gift card or gift certificate rather than a check. Go for the cards that let you pick the way you’ll receive your reward.

Check the dates.
Be sure to figure out when your annual rebate limit lacks in and when your points expire. Some cards base this on the calendar year while others count one year from the date you were approved for the card.

Watch the tricks.
Some cards offer a high rebate during a short introductory time period and then switch to a much lower one.

Read the inserts.
Card issues can change the cash-back agreement at any time. After you sign up, be sure to read the inserts in bills so you know whether the card is still a good deal or whether it’s time to switch.