The cash back amount is calculated based on the purchase amount and the cash back percentage. If there is a limit to the cash back amount, then we take the lesser of the calculated cash back amount and the limit.
A cash back limit can be entered in the advanced section of the calculator.
Cash back amount = Purchase amount × Cash back percentage
When it comes to credit cards, there are a lot of different options out there. Some offer rewards points, some offer low interest rates, and some offer cash back. So, which one is the best option for you? It really depends on your spending habits and what you value most in a credit card. If you're someone who likes to get rewarded for your spending, then a rewards points credit card might be the best option for you. But if you're someone who carries a balance from month to month, then a low interest rate credit card might be the better choice.
And if you're looking for a simple way to earn money back on your everyday purchases, then a cash back credit card is probably the way to go.
Cash back credit cards are becoming increasingly popular these days as more and more people are looking for ways to save money. With a cash back credit card, you can earn a percentage of cash back on every purchase you make. For example, let's say you have a cash back credit card that offers 1% cash back on all purchases. That means that for every $100 you spend, you'll earn $1 in cash back.
There are also some cards that offer higher percentages of cash back on specific categories of purchases such as gas or groceries. And some even offer bonus cash back on certain types of purchases made during certain times of the year.
Some cards tie their cash back rewards to specific categories of purchases. For example, you might get 5% cash back on gas and 3% cash back on groceries, but only 1% on everything else. This can be a good option if you spend a lot in specific categories (and as long as those categories don't change too often).
Finally, some cards offer rotating category bonuses, where the categories change every few months (usually quarterly). This can be a good option if you want more flexibility in your rewards, but it's important to make sure you know what the current bonus categories are before you make a purchase.
Cash back percentages usually range from 1% to 5% of the total spending, and depends on the card issuer and the type of credit card you have.
Usually cash back credit cards will have a total cash back limit, such as $1,500.
The great thing about cash back is that it's essentially free money. You're not paying anything extra in order to earn it - it's simply money that's being returned to you based on your spending habits. And unlike rewards points, which can sometimes be difficult to redeem, cash back can be used however you want - there's no need to worry about finding flights or hotels that fit within your points budget. You can use it to pay down debt, save for a rainy day fund, or even just treat yourself to something nice!
If you're thinking about signing up for a cash back credit card, there are a few things to keep in mind.
First, make sure you understand how the program works and what kinds of purchases qualify for cash back rewards. Some cards have limits on how much cash back you can earn per purchase or per statement period - so it's important to know these details before signing up.
Second, remember that not all cards offer the same percentage of cash back across all categories - so if there's something specific you tend to spend a lot of money on (like gas or groceries), make sure to find a card that offers bonus rewards in those categories.
Finally, keep an eye out for any annual fees associated with the card - while most don't have any fees at all, some do charge an annual fee in exchange for higher rewards rates or other perks like travel insurance or extended warranty coverage.
This calculator helps you determine the amount of cash back you'll receive on a purchase.
The calculator will show you the total cash back amount, the final price you pay after the cash back, and the total amount saved.