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Credit cards are issued after an account has been approved by the credit provider, after which cardholders can use it to make purchases at merchants accepting that card. When a purchase is made, the credit card user agrees to pay the card issuer. The card holder indicates his/her consent to pay, by signing a receipt with a record of the card details and indicating the amount to be paid or by entering a Personal identification number (PIN).

Also, many merchants now accept verbal authorizations via telephone and electronic authorization using the Internet, known as a ‘Card/Cardholder Not Present’ (CNP) transaction. Cash Back Credit Cards are used to make purchases accordingly. It like a virtual cash planner where one can use a certain amount of cash he/she wants to use.

Then after the usage you g et a 1 or 2 % of cash back. Every time you use your Cash Back Credit Card, a part of your spends come back to you, as money. And you can get back your money. No Card gives you this kind of value. The ‘Cash Back’ will be credited to your Cash Back Credit Card Statement every month.

Where a card issuer operates such a cashback scheme, card holders typically receive between 0.5% and 2% of their net expenditure (purchases minus refunds) as an annual rebate, which is either credited to the credit card account or paid to the card holder separately, for example by check. Or some banks pay you that cash back in the form of rewards like air miles, travel coupons etc.

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