Getting a cash back credit card is a good way to make money while spending. But aside from receiving cash back rewards, there are also other ways to earn using cash back credit cards.

1. Using Cash Back Cards as Spending Cards – Once you have determined which cash back card gives more value for the money you spend, transfer all your expenditures to it. Use it whenever you need to purchase something. If you have work-related expenses that are reimbursed by the company, use the card to pay for them. Technically, you can then earn the cash reward for this expenditure without having to pay anything.

2. Using Multiple Cards – There are some specialty cash back cards that give more rewards when you use them in buying a certain product or service. One example of this is the gas card. Even if you already have a credit card, you can still apply for a gas card and use it only when you are buying gas. That way, you can take advantage of the higher reward rate and you get more money back as well. The rest of your purchases would still go to your regular credit card or to other specialty cards where they can earn the highest possible rewards as well.

3. Transferring Debts – To use this method, your cash back card should have 0% interest on balance transfers. If your card does offer 0% interest on such, you can then transfer a certain amount of money to your savings account where it will earn interest. Then, to pay for this transfer, apply for another cash back credit card with 0% for balance transfers. Use this to pay for the first credit card bill. You can actually do this with as many credit cards as possible. It may seem like you are building up your debt but from a larger perspective, you are actually skimming it off. You are safe as long as you pay out all the previous credit card debts with the next one. However, make sure to pay for the last credit card debt using the money you have in your savings account. This way, you are sure to end up with the interest from your savings account and the cash back rewards you earned from all your money transfers.

Still, the most important thing to remember when using cash back credit cards is to always pay your monthly bill on time and in full. Otherwise, the interest you have to pay will just accumulate. In the end, you may end up earning nothing at all – or worse, paying for interest that is larger than the cash rewards you receive.

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