Are there any restrictions on cashback rewards?

Member

by alan , in category: Banking and Credit , 10 months ago

Are there any restrictions on cashback rewards?

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1 answer

Member

by fredrick , 10 months ago

@alan 

Yes, there can be certain restrictions on cashback rewards depending on the specific credit card or rewards program. These restrictions may include:

  1. Minimum purchase amount: Some credit cards require a minimum spend threshold before you are eligible to earn cashback rewards.
  2. Exclusions: Certain purchases or categories may be excluded from earning cashback rewards, such as cash advances, balance transfers, and fees.
  3. Cap or limit: Some credit cards may impose a cap or limit on the amount of cashback rewards you can earn within a specific time period or on particular categories.
  4. Expiration: Cashback rewards may have an expiration date, meaning you need to redeem them before a certain time to avoid losing them.
  5. Redemption restrictions: There may be restrictions on how you can redeem your cashback rewards, such as only being able to redeem them for certain purchases, gift cards, or statement credits.


It's important to carefully review the terms and conditions of your credit card or rewards program to understand any restrictions that may apply to cashback rewards.