What is 'Cash Back'
Cash back can refer to two different kinds of card transactions:
1988 1) An option available to retail consumers when, during a debit card transaction, the customer can request to add an extra amount to the purchase price and receive the added amount in cash. Cash back using debit provides customers a convenient method of obtaining cash when purchasing goods and services without having to make a separate trip to an ATM or bank.
2) A cardholder benefit offered by some credit card companies that pays the cardholder a small percentage of their net expenditures (purchases less refunds). Cash back benefits often provide the cardholder with the opportunity to choose from taking the cash, or using the "points" for purchases, travel (as with miles awards for air travel) or gift cards. Typically, cardholders must reach a certain points level to redeem for cash or other benefits. Some credit cards offer varying levels of cash back depending on the purchase. For example, a cardholder might earn 5% back on gas purchases, 2% on groceries and 1%on all other purchases.
He was as much a risk-taker when it came to his money as he was when he was making decisions in Downing Street. Churchill spent wildly on everything from polo ponies to Havana cigars; between 1908 and 1914 the Churchill household spent an average of £1,160 on wine alone each year—£104,400 ($145,000) in today’s money
Churchill spent most of his life leaping from one cashflow crisis to another
He was born on November 30th 1874