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How to Take Advantage of a Cash Back Credit Card




A credit card doesn’t only give you the opportunity to build credit while making everyday purchases—it can offer cash back rewards, travel benefits, points, and even gas advantages. These features are a great way to earn money or receive discounts whenever you spend money. Let’s dive into some cash back advantages, which offer simplicity and flexibility. Perks of a cash back credit card:

  • Earn money every time you make purchases
  • Simple statement cash back credit
  • No worries about timing for points redemption

How do cash back rewards work?

It’s simple. Cash back credit cards have a set percentage (typically 1- 2%) that gets paid back when you make purchases. The cash is usually deposited into your checking account or received as a statement credit. With the Santander® Ultimate Cash Back® credit card, there’s a promotional rate of 3% cash back for the first 12 months.* That means if you spend $500 on groceries per month, you’ll earn $15 each month, which adds up to $180 of cash back by the end of the first year. It’s a smart way to earn money on everyday purchases. More easy ways to earn cash back:

  • Add your cash back credit card to your digital wallet, so you can conveniently access your card from your phone at any time for online purchases and in-store purchases.
  • Set up recurring payments so that you can automatically pay bills and earn cash back without an effort.
  • Use your card to pay for everyday essentials to earn cash back on your daily spending.

Where can you get cash back?

For the Santander® Ultimate Cash Back® credit card you get a higher reward rate for up to $20,000 for the first 12 months. This is an opportunity to earn more for big ticket items, like renovations, if you’re planning on redoing your home. After one year or when up to $20,000 in purchases have been made, all other purchases will have 1.5% cash back. Keep in mind that qualified purchases fall into certain categories—balance transfers and cash advance transactions do not earn cash back. Any purchase with the Santander® Ultimate Cash Back® credit card earns cash back, so your everyday shopping could earn you cash back. Some examples of purchase categories include:

  • Restaurants
  • Gas stations
  • Grocery stores
  • Select travel and transit services
  • Select streaming services
  • Drug stores
  • Home improvement stores
  • Fitness clubs
  • Live entertainment

What to know about transferring credit card balances

If you have a balance with another credit card and are looking for some relief from your credit card payment, transferring your balance to another credit card with a 0% introductory Annual Percentage Rate (APR) on balance transfers can help temporarily. It gives you time to plan your finances and pay it off without the recurring interest. This is how the Santander® Ultimate Cash Back® credit card handles transferred balances:


Santander® Ultimate Cash Back® Card

  • 0% introductory APR for 12 billing cycles on balance transfers made within 90 days of account opening.
  • 0% introductory APR for 12 billing cycles on purchases.*

This means that your transferred balance from other credit cards within first 90 days of account opening or new purchases made within one year of account opening will not incur interest charges in the first 12 months if you make at least the minimum due payment during this period, making it easier to manage debt. Additionally, the Santander® Ultimate Cash Back® credit card has:

  • No annual fees* so you don’t have to worry about annual payments.
  • No foreign transaction fees* so that you can use your card internationally.
  • No returned payment fees* if you forget to add funds to your account and your payment bounces.
  • No cash advance fees* in case you need cash on hand.

If you’re interested in these features and the advantages that cash back has to offer, we invite you to learn more about the Santander® Ultimate Cash Back® credit card.


*0% introductory Annual Percentage Rate (APR) for 12 billing cycles on Balance Transfers made within 90 days of opening your account and 0% Introductory APR for 12 billing cycles on Purchases. After the introductory period, a variable APR for Balance Transfers and Purchases from 17.73% to 26.86% based on the Prime Rate and your creditworthiness. Cash advance APR of 28.38%. Rates effective as of 10/01/2022. Rates are subject to change and may vary based on the Prime Rate in effect on the date of application. The Balance Transfer fee is the greater of 3% of the amount transferred or $10. There is no grace period on Balance Transfers because interest accrues from the date of the transaction. This means that, unless your Purchase APR is at an introductory or promotional 0% APR, you will pay interest on new Purchases from the date made if you do not pay all balances, including the promotional Balance Transfer, in full by the payment due date appearing on your statement. Balance Transfers may not be used to pay off or pay down any account issued by Santander Bank, N.A. Balance Transfers must be payable to another institution’s credit card balances that accept our electronic payments. Loss of any introductory or promotional rate, if any, may apply indefinitely to your account if you miss or make a late payment or otherwise default. There are no Annual, Cash Advance, Foreign Transaction, or Returned Payment fees. Finance charges still apply. Each time we do not receive the Minimum Payment Due in full by the Payment Due Date, we will charge you a Late Fee of $25 for the first late fee in a 6-month period and a $35 fee for each late payment until there are 6 consecutive months with no late payments. However, we will never charge a Late Payment Fee exceeding the Minimum Payment Due that is late. For the first 12 months after account opening, you earn 3% cash back on new net retail purchases (qualifying purchases less credits, returns, and adjustments) until you have spent $20,000 USD or equivalent. Otherwise, you earn 1.5% cash back on new net retail purchases. Cash back can be redeemed for statement credit, gift cards, electronic certificates, or merchandise. Cash back cannot be earned on balance transfers, cash advances, purchases of money orders and other cash equivalents, purchases made by or for a business purpose, fees, interest charges, unauthorized / fraudulent transactions, and certain other charges. Cash back balance does not expire for accounts in good standing. Other terms and conditions apply. Credit card accounts are subject to approval.