Maximizing our money is something we all aspire to, but few of us achieve. In times when we must watch over our budget, stretching our dollar as much as we can is essential. But sometimes saving extra money seems impossible.
However, there are several techniques we can use to offset our daily expenses. One of them is taking advantage of an expense or a purchase. Yes, you read that right.
Stores and restaurants loyalty programs are an alternative that allow us to earn points for purchases or receive free products. The same principle applies to cash rewards credit cards, which offer a certain percentage for every dollar spent, thereby putting a bit of cash back in your wallet. These types of cards can even work as a tool to balance your finances. By using the card for your monthly expenses, you earn cash rewards that can be used in the future to purchase items, cover unforeseen expenses, or take a trip.
What is a cash rewards credit card and how does it work?
It’s a card that allows you to receive cash rewards on all eligible purchases. When you make a purchase, you receive a certain percentage for every dollar spent — and this translates into cash.
How can I redeem it?
The cash rewards earned may be transferred to your deposit account to save it for later use, or you can use it to pay your credit card balance. One of the advantages of this type of reward is that it has no expiration date and there is no limit on the amount that can be earned, provided that the account remains open and current. For example, Popular’s Visa Cash Rewards allows you to earn 1.5% cash rewards for every $1 in eligible purchases.
What do you need to do to apply for a Visa Cash Rewards with us?
- You must be a resident of Puerto Rico
- Be 21 years or older. If you are under 21, you must provide evidence of emancipation or marriage
- Have an email address
- Have your Social Security number on hand
Remember that credit products are subject to credit approval. Certain restrictions and conditions apply. For details, go to https://www.popular.com/en/cards/.
Visit https://www.popular.com/en/cards/cash-rewards/ to learn more about all the benefits a cash rewards credit card offers. To apply, go to the “Products” section in the Mi Banco Mobile app, call 1-888-724-3653, or visit your nearest branch.