Which Credit Card Company offers the card where they give you back the cents on every purchase?

10-01-2007, 01:39 PM

I saw an ad on tv saying that they give you the cents back on every purchase and deposit it into a savings account. Which company is it?

Hedwig · 10-01-2007, 02:00 PM

I think you're confusing two things here. Some credit cards give you a rebate--a percentage of every purchase you make is refunded. It is usually by a credit on your bill, although I believe some will send a check at the end of the quarter or year.

The only place I know that deposits money into a savings account is the Bank of America check card. This is a debit card, which takes the money from your account. What they do is round the purchase up to the next dollar. So, if your purchase is $12.52, BoA will deduct $13.00 from your account. The additional 48 cents is added to your savings account. It's just a ploy to get you to take money from your checking account and put it in your savings account.

Make sure you put the rounded-up amount in your checkbook and deduct it. Otherwise, you will have less money than you think, and you could end up with overdraft charges.