by: Peter Kenny

How good would it feel if every time you spent money you got some back? Well thats what most credit card companies are offering you at the moment, as the big credit card companys battle out the customers can only benefit, most credit card companies offer an incentive when you open an account, including 0% on balances and purchases for the first 6 or 9 months, which is great but know they are offering Cash Back.

Cash Back works by offering customers money back (typical rate of 0.5% -1%) every time they make a purchase using their credit card, this money is usually put into your account at the end of every month, how good will that make you feel knowing every time you bring your plastic friend out he is making you money.

There are some great offers by credit card companies including American Express Blue Credit Card, they have a great introductory offer of 2% cash back for the first three months, then the rate reduces to 1% this is a great offer from American Express, you could really cash in with this offer. A typical example with American Express Blue credit card, say you spend 1,500 a month with cash back you will receive 30 for the first three months then 15 for every other month.

>Other credit card companies getting in on the act include Halifax, Egg, Stanley Morgan and Alliance and Leicester they all offer Cash Back, at a typical rate of 0.5% -1% the only requirement is you spend a certain amount throughout the year.

The only think to watch out for is make sure you pay off your balance when you receive your statement, if you dont you will lose all the Cash Back money that you have earned, and youll be charge more interest and end up paying back a lot more, so you really have to watch that what youre spending every month you can cover.

As with all credit cards when youre applying for one make sure you read it carefully, I know we always look for the great benefits that they offer us, but remember a lot of these offers only last for an introductory period, so make sure you check the interest rate as after the first 6 or 9 months you could see it jumping up dramatically, so what could have started out as a great offer turns out to be a nightmare, and leave you in debt for years.