What does Cash back mean?
Cash back is a system used in the credit card industry. It is basically a rewards program with the aim to make purchases and other types of transactions more viable and more attractive; cash back returns a percentage of the whole sum a client spends on his or her credit card during a predetermined time period. This period is typically a month or in some cases it is calculated quarterly (the period being a quarter year).
The cash back program is really effective if the consumer normally pays his or her credit card bill on time and in full, every month. This means that the customer gets a higher discount on every product bought in the specific time period with his or her credit card.