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Cash Back/Rebate Credit Cards:
Cash Back credit cards give you cash or rebate incentives every time you use the card. The amount given is usually a percentage of your total purchases. Cash back credit cards should be considered by those who tend to pay off their entire balance every month, and therefore would not realize the benefits offered by low interest rate cards. Cash back credit cards are always hard to beat, but others may favour a rewards program offering goods and services in place of cash. The card you choose will depend upon your particular needs and lifestyle.
Always keep in mind that cashback credit cards generally have a higher interest rate than other credit cards on the market and if you do carry a balance on your credit card the interest you will be charged often outweighs any rewards that are offered and you could save more money by switching to a cheaper credit card - see 0% credit card deals
All the reward credit cards be they cash back or points based work in a similar way. For every pound you spend on the card (generally excluding balance transfers) you will earn a certain proportion of that spend as cashback or points.
