Having a credit card with rewards is a good way to earn money on your everyday expenditures. The great thing about cashback rewards is that they give you some value for money, and it’s easier to understand how much you’re saving. In this article, they’re going to talk about some of the best benefits of choosing a 3% cash back credit card compared to other cards on the market.
Earn 3% Cash Back Immediately
One of the most attractive benefits of a 3% cashback card is that you can begin earning cashback immediately. Unlike some rewards cards that only allow you to earn points or miles at certain times and dates, with a 3% cashback card, your rewards will be applied as soon as you make a purchase. There are no minimum purchase requirements or limits on how much money can be earned.
This means that if your card has an introductory offer for $120 in statement credits over the first six months, those credits will be available as soon as your account is activated. This flexibility makes it easy to use the rewards when needed without having to wait for them.
With SoFi professionals, “Earn up to 3% cash back rewards for one year (with direct deposit) to save, invest, or pay down debt.”
Redeem your cash back as a statement credit, check, or have the cash deposited into your bank account
- Redeem your cash back as a statement credit. You’ll receive a statement credit for the amount of your cashback earnings, which you can use to make purchases from the issuer’s network of merchants.
- Redeem your cash back as a check. Some cards will pay you in the form of a paper check that you can deposit into your bank account or even have mailed to you in the mail.
- Has it been deposited directly into your bank account? Some cards allow you to elect to have all or part of your cashback earnings deposited directly into a checking or savings account at any time during the year that follows each calendar year in which you earned them (or during any calendar month).
Free online access to your FICO Score
When you open a new card, it’s important to know how your FICO score will be affected. The FICO score is a three-digit number that predicts the likelihood that you will pay back the money you borrow from lenders. It’s calculated by looking at the information in your credit report, which includes public records like tax liens and bankruptcies.
If you have a high FICO score (between 760 and 850), you are more likely to get approved for a loan and get lower interest rates on loans than people with lower scores (below 700).
Travel and emergency assistance services
Let’s talk about the benefits of choosing travel and emergency assistance services. This card has 24/7 travel assistance services, which means you can reach out to them when you get into trouble (or if you need some help planning a trip).
Undoubtedly, choosing a credit card with a cashback program can be a smart financial move. The key is to choose the right card for your needs and understand how it works so you can get the most out of it.