Credit cards are an amazing tool when it comes to financing purchases. They also play a vital role in helping the card holders build their credit and even win some rewards. However, they can harm your financial position if not used carefully.

Some people like to call cashback bonuses “sales with extra steps” and that’s not very far from the truth.

In essence, a cashback bonus is a partnership made between the payment provider and a specific business that, whenever a payment is made through the former, it automatically qualifies the customer for some money back.