Everyone loves free money. At the same time, we’ve all been cautioned that there’s no such thing as a free lunch. So, naturally, the words “cash back” make a lot of people skeptical. Earning money by spending money might seem too good to be true, but Fizz makes it a simple reality by offering cash back at places you love to shop - both around campus and online. But what exactly is cash back? And how does it work? And how can you get it? Let’s take a closer look.

Let’s define cash back

Cash back is a type of reward offered by many card companies. You can earn cash back when you use a Fizz card or a credit card just by spending money on things you normally spend money on. Depending on the card you’re using and the store or merchant you’re using it for, your cash back rate can vary substantially. Some cards offer a flat amount of cash back on all your purchases, usually around 1%. Other cards, like Fizz, offer higher cash back rates (even up to 100%) at specific stores.

Once you understand where you can earn cash back, it’s easy to understand how it works. Simply put, the cash back percentage you earn is how much of any purchase you’ll get back from your card company. You can think of it as a percentage discount.

Here’s an example. Let’s say you have a credit card that offers 2% cash back and you use it to make a $100 purchase at a store. The credit card company then refunds 2% of the purchase amount ($2) to you as cash back. So, you effectively only pay $98 for your $100 purchase. Card companies usually pay for cash back with the interchange fees they receive from merchants.

The main difference between cash back and a normal discount is that with cash back, you get money back after you’ve made the purchase - instead of having the purchase price discounted upfront. However, the end result is the same. Cash back saves you money on things that you already spend money on, without costing you anything.

Why is Fizz cash back special?

Student credit cards and normal credit cards have lots of shortcomings, especially when compared with Fizz. When it comes to cash back, things are no different.

Normal credit cards often charge fees if you want access to cash back perks. Fizz, on the other hand, is completely free. Lots of normal credit cards, particularly student credit cards, offer 0% or 1% cash back. Fizz, on the other hand, offers up to 25% cash back around campus! That means that you can pay 25% less at places you already love to go - instead of settling for 1% cash back with a normal student credit card, which is barely enough to notice. And while some credit cards make redeeming cash back a hassle, Fizz makes it easy, allowing you to deposit your cash back directly into your connected bank account.

Fizz cash back flashes

You shouldn’t expect normal credit cards to go out of their way to reward you. Fizz is different yet again. With Fizz, you’ll also have access to some awesome cash back flashes around campus. Fizz regularly runs offers of 50%, 75%, even 100% cash back at hot spots around campus. We notify all our cardholders about these flashes as soon as they happen, making it easy to take advantage of them. Cash back flashes aren’t offered by any other card out there. Consider them a little reward for building your credit the smart way.

The bottom line

Fizz cash back is easy to understand and use. It’s also unparalleled when you put it up against other credit cards and student cards. While most cards offer 0% to 3% cash back on purchases, Fizz offers up to 25% on a daily basis, with flashes that range up to 75% and even 100%. If you’re looking to not just build credit but earn cash back from your everyday spending, there’s simply no better option than Fizz.