There are credit cards out there - particularly those offering a $100 cash back bonus when you spend $500 within the first three months - that can save you at least $100 on just one purchase. Granted, you generally need good-to-excellent credit to get approved for such a card, but if you can there's an opportunity to put a big dent in the cost of that big-ticket item you've been saving up for.
Let's say you're getting ready to purchase a flat-screen for $600, and let's say that you already have the money to do so. You can put the TV on your debit card or pay in the cash, and the deal is done. You've got a new TV, life is good, etc.
Now, let's say you're getting ready to purchase that same flat-screen, and you've still got the money for it (folks, do NOT buy a flat-screen TV with a credit card if you can't pay it back immediately). But imagine you could get the same TV for $100 less, plus earn a minimum of $5 in cash back, for a cool $105 total? You would probably take this second option, because you're smart and you can do math.
Well, $100 cash back cards make this "dream" a reality by offering up a free Benjamin (in the form a statement credit, cash or gift card) when you spend a certain amount on your new card (generally $500-to-$1000) in a specific amount of time, often within the first three months of your account opening.
The most savvy credit card users have been taking advantage of these credit card signup bonuses for years. But with so many big-ticket items starting right around that average threshold amount - again, usually $500 - you can essentially save $100 with one swipe. If you have the credit and you plan accordingly, it's really that simple.
Check out our list of $100 cash back credit cards to determine which cash back credit card work best for you, both in the short-term and over the long haul. And again, ONLY swipe your card for that big-ticket purchase if you're positive you can pay it back quickly.
