Calculator: Are you paying for your cash-back rewards?


At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Figuring out your cash-back rewards can be tricky, with 1 percent being offered on some purchases and 3 percent being offered on others. But it gets even tougher to figure out if you are the one paying for all those rewards. While cash-back rewards credit cards are best for those who are paying off their balances every month, there may be times when one carries a balance.

Grab your most recent cash-back rewards credit card statement. By filling in the information below, you’ll be able to calculate if you are paying for your own rewards and how much you are earning, or losing, each month.

If your card offers more than one cash-back reward percentage, click the + sign to add in more spending categories.

Calculator: Are you paying for your cash-back rewards?

Find out if you are actually paying for your credit card's cash-back rewards in interest. Using last month's bill, fill in the information below. If your rewards credit card offers more than one spending category* reward, click the plus button to add in another cash-back percentage and how much you spent in that category.

Did you carry a balance from last month? If so, how much? $
How much did you charge this month? $
* Spending category 1 $
What was your % Cash Back? %
What did you spend on everything else? $
What was your % cash back? %
How much did you pay off? $
Interest rate on credit card %


Monthly balance
How much will you pay in interest?
Cash back earned this month
How much $ did you gain / lose?
Did you pay for your rewards?
*A spending category is an area where you receive cash-back rewards for spending. This could be dining out, gas, grocery shopping, etc. Certain cards offer different cash-back percentages depending on the category.

Stay up-to-date with the industry’s top news and strategies for earning cash back. Check out Bankrate’s cash back catalog for everything you need to know to earn the most out of every swipe.