Cash Back question

[Anonymous]

So I am rebuilding credit and just git an amazon prime rewards visa for $3000

My insanely newb question is, How does cash back work?

its 5%, but is that taken off my bill, converted to points to redeeem, mailed to me by check, credited to a future purchase?

Thanks,

Brew

[Anonymous]

https://www.chase.com/personal/credit-cards/amazon/redeem-rewards

[HeavenOhio]

You'll receive your points when your statement is issued, but you can start to track them as transactions post to your account.

You can redeem your points on Amazon after your statement cuts. If you have at least 2,000 points ($20 worth of points), you can also redeem them either as a statement credit or as a deposit into your bank account. The statement credit / bank deposit is a better deal as you don't get 5% back on Amazon purchases paid for with points.

[marty56]

Sams has the worst policy that reminds me of the old company script days.

They send you a check that can only be cashed at Sams Club.

[Anonymous]

It's the same for Costco. Just make sure you cash it instead of using it against new purchases at the register, this way you'll get cash back on the new purchases as well.