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Cash back credit cards

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soxfaininfl
Frequent Contributor

Cash back credit cards

Hi Everyone,


Which cashback credit cards actually allow you to deposit the cash you earn into your checking account instead of just a statement credit? I know the Apple Card has this option. 

 

Thanks,

 

Soxfaninfl









15 REPLIES 15
Anonymous
Not applicable

Re: Cash back credit cards

Depends on the card.  

 

WF is point redemptions

Disco is DD 

BBVA is SC

BOA is SC

Amex is SC 

Chase is DD

Citi is DD

Uber is DD

USB is DD if you open an account to txfr it into otherwise it's redemption 

Message 2 of 16
HeavenOhio
Senior Contributor

Re: Cash back credit cards

Some banks offer both options. You can do either statement credit or bank account deposit with Chase.

Message 3 of 16
coldfusion
Community Leader
Mega Contributor

Re: Cash back credit cards


@Anonymous wrote:

Depends on the card.  

 

 

BOA is SC

 


BoA Cash Rewards lets you choose between redeeming the cash into a checking or savings account, statement credit, or they'll send you a check if you're willing to wait 2 weeks. 

 

BoA Premium Rewards will let you redeem points as cash at $0.01/point into checking/savings or as a statement credit, with a 2,500 point mininum redemption. 

(3/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 4 of 16
Anonymous
Not applicable

Re: Cash back credit cards


@coldfusion wrote:

@Anonymous wrote:

Depends on the card.  

 

 

BOA is SC

 


BoA Cash Rewards lets you choose between redeeming the cash into a checking or savings account, statement credit, or they'll send you a check if you're willing to wait 2 weeks. 

 

BoA Premium Rewards will let you redeem points as cash at $0.01/point into checking/savings or as a statement credit, with a 2,500 point mininum redemption. 


If you open an account with them.  Otherwise the most convenient is just shift it into a SC. 

 

CR doesn't have a minimum and a large % of their cards are in that mold other than PR.

Message 5 of 16
JNA1
Valued Contributor

Re: Cash back credit cards

Discover is DD or SC. The Discover IT card is the best cash back card on the market for the first year, IMO. With the Cashback match bonus for the first year, you can get up to $600 in 10% cash back (5% categories x 2) and unlimited 2% (1% x 2) for the first year.

I’m on pace to earn $1300+ for stuff I was going to buy anyway this year.
Our credit card journey started 3/2018

Hover over cards to see limits and usage. Total CL - $584,600. Cash Back and SUBs earned as of 9/1/22- $15292.65
CU Memberships

Goal Cards:

Message 6 of 16
Bestman79
Contributor

Re: Cash back credit cards

PPCB MC deposits into your PayPal acct, then you can transfer to checking.
TCL=$534.9K
Message 7 of 16
JNA1
Valued Contributor

Re: Cash back credit cards

I guess I look it at cash back differently that some people - but I prefer to use it as statement credit. Let’s say I have $1000 worth of CB built up - I prefer to use the card to either buy what I want to spend the $1000 CB and then use the CB to pay off the card on OR use the card to buy $1000 worth of things I am already going to spend money on, and pull the $1000 I was going to use to buy those things out of my bank account.

Doing it that way then gets me cash back on that on that $1000 cash back.
Our credit card journey started 3/2018

Hover over cards to see limits and usage. Total CL - $584,600. Cash Back and SUBs earned as of 9/1/22- $15292.65
CU Memberships

Goal Cards:

Message 8 of 16
Anonymous
Not applicable

Re: Cash back credit cards

Honestly I prefer statement credit. It's just easier. One step - redeem. 

Message 9 of 16
SouthJamaica
Mega Contributor

Re: Cash back credit cards


@soxfaininfl wrote:

Hi Everyone,


Which cashback credit cards actually allow you to deposit the cash you earn into your checking account instead of just a statement credit? I know the Apple Card has this option. 

 

Thanks,

 

Soxfaninfl


Most give you that option.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 10 of 16
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