Showing posts from August, 2015

Credit Card Cash Back

Mathematics. I’m not a genius, so MIT (Massachusetts Institute of Technology) did not have to worry about my application for admission, when I was a university student. Banks know that math is my weak point.That is why they try to sell me credit cards with the ‘cash back’ option.Now let’s see how it works. I don’t have any cash on me, so I use a credit card.Translation: I’m broke, so I will live on credit until payday, or until somebody buys my book Sweetness. There’s always a catch, or punishment.Credit is not free like the sun and moon.There are interest charges.Now this is where I get stuck.Where is the cash back coming from? Is the cash back the same amount as the interest on the credit card balance? If the interest is, let’s say 23%, will the cash back be the same percentage?No, delete question because I think the cash back is based on buying. I must keep buying on credit to increase the chances of cash back.How about the interest?I can see it sitting quietly behind the door licking it…