Cashback
Cashback is a financial incentive provided by retailers or credit card companies that rewards customers for their purchases. When you buy something, a percentage of the amount spent is returned to you, either as cash or as a credit toward future purchases. For example, if you spend $100 with a cashback offer of 5%, you would receive $5 back. This program encourages spending and customer loyalty, allowing consumers to save money over time. Cashback can be offered through specific promotions or as a standard feature of some credit cards and loyalty programs.
Additional Insights
-
Cashback is a reward system offered by credit cards, retailers, or online platforms where a percentage of money spent on purchases is returned to the buyer as cash or credit. For example, if you spend $100 on a purchase with a 2% cashback offer, you receive $2 back. This incentive encourages spending and loyalty, making it appealing for consumers. Cashback can be accumulated and redeemed periodically, enhancing savings on future purchases. It's important to understand the terms and conditions, such as minimum spending requirements or expiration dates, to maximize the benefits.