Eli5 What is meant by cashback on credit cards?

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Eli5 What is meant by cashback on credit cards?

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Usually that term is used to indicate that a card gives the card holder a rebate on all spending or certain classes of spending in the form of cash. So if you spend $50.00 the card might accrue $0.50 or $1.00 or some similar amount in reward credit that you earn at the end of the month.

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