1. What is 1.5% Cash Back?

1.5% cash back is a common credit card reward where you receive 1.5% of your purchase amount back as a credit or statement balance. This is a simple, flat-rate rewards structure used by many credit cards.

2. How Does the Calculator Work?

The calculator uses the cash back formula:

Where:

• \( \text{Amount} \) — Purchase amount in dollars
• \( 0.015 \) — 1.5% cash back rate

Explanation: The calculation simply multiplies your purchase amount by 1.5% (0.015) to determine your cash back reward.

3. Importance of Cash Back Calculation

Details: Understanding your potential cash back helps with financial planning, comparing credit card offers, and maximizing rewards on your purchases.

4. Using the Calculator

Tips: Enter your purchase amount in dollars. The calculator will show you how much cash back you would earn at a 1.5% rate.

5. Frequently Asked Questions (FAQ)

Q1: Is 1.5% cash back good?
A: 1.5% is a solid flat-rate cash back offer, better than many basic cards but less than some category-specific or rotating bonus cards.

Q2: Are there limits to cash back?
A: Some cards have annual maximums or exclude certain purchase categories. Check your card's terms.

Q3: How is cash back paid out?
A: Typically as statement credits, direct deposits, or checks, either monthly or when you reach a minimum amount.

Q4: Does cash back expire?
A: Policies vary, but many cards don't expire rewards as long as your account remains open and in good standing.

Q5: Can I combine with other offers?
A: Often yes - you may still earn cash back when using coupons, discounts, or shopping portal bonuses.