There's one major mistake you can make with cash-back credit cards that can end up costing you in the long run.
Cash-back credit cards are pretty easy to use, and that's a big reason why many Americans report having at least one.
Nearly half, 47%, of Americans carry a monthly balance on their credit cards, according to a recent survey of 1,000 credit card users by real estate data companyThat can be a significant expense, especially since the average APR among credit cards that charge interest is 17.14% as of June 2019,And it can be worse if you're using a cash-back card, which is considered a "rewards" credit card because you earn a bonus on your spending.
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