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What credit card has the highest cash back?

The best cash back credit card is the Blue Cash Preferred® Card from American Express because it offers lots of bonus cash back rewards. The Amex Blue Cash Preferred Card gives 6% cash back on eligible U.S. streaming services, plus 6% cash back on up to $6,000 spent at U.S. supermarkets each year.

What are credit reward points?

Credit Card Reward Points are the points that you can collect following every purchase that you make using your credit card. The value of reward points will vary depending on your card variant and the purchase you make. For example, HDFC MoneyBack Credit Card offers 2 reward points for every Rs. 150 spend and 4 reward points per Rs. 150 for ...

Are credit card rewards taxable income?

Whether credit card rewards are taxable depends on how you earned them. If you received cash or miles, for instance, for simply opening an account, you might have to pay taxes on the amount. Here's why: You didn't have to earn the rewards by spending your own money. So, in effect, it's considered taxable income by the IRS.

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