Cashback vs. Rewards Credit Cards! (Which is Better?)

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What's the difference between cashback and rewards credit cards?
Cashback credit cards are a great choice, but so are rewards cards. So how do you know which is better? It's simple Which credit card gives the highest cash value for every dollar spent? If your rewards card gives you 100,000 points for spending $10,000 and a $150 Hotel room can be redeemed for 100,000 points, then you'd be getting 1.5% back from the actual cash value (which is better than a 1% cashback card). Simply do the math yourself to find out if cashback cards are better or worse than rewards/points cards.
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[@HonestFinance]

Enjoy the video! Comment below if you have any questions, thanks :)

[@mikeyoung7640]

One of my pet peeves is. You can just use your credit card as a debit card. Just pay your credit card bill off as soon as a statement. I never have once gotten a credit card fee. The only time I have is when I accidentally do the cash advance through the TD app. I paid off every week I don’t pay it off every month. I don’t wait for the 21 days. I wait as soon as my credit card pending statement is done so I can pay it off. Sometimes I even paid up before it even send me the bill to the TD app

[@Gash3d]

This channel is a blessing

[@TheForexApostle]

Thanks for explaining the both areas in a very understandable way :)

[@HonestFinance]

You’re welcome. Thanks for watching

[@jfjoubertquebec]

Super!

[@mrpricklypear22]

@Honest Finance , you kind of covered it when you discussed points vs cash back for best value, but when in the state of rising inflation (like now), is there a strategy to best utilize your rewards? For example, if you decide to save your rewards, are you losing money due to rising costs and interest?

[@HonestFinance]

Honestly , I’d just use the points whenever they’ll benefit you the most. Don’t worry about inflation and your credit cards rewards. Inflation is causing you to lose everywhere and there’s not much you can do to fight it other than make more money, pay off debt and invest

[@dominimontrose5867]

Thank you honestly! These videos has been helping me more than you know ….my question is how do I know what my current credit score is ?

[@HonestFinance]

Check experians website or credit karma. They have free ways of looking at your score. Your credit cards might have the feature as well