Lamarr and Anthiel received a patent in 1941, but the enormous significance of their invention was not realized until decades later. It was first implemented on naval ships during the Cuban Missile Crisis and subsequently emerged in numerous military applications.
Cash back credit card reward programs started out rather simply, offering a flat percentage rate (typically 1 percent of purchases) rebated back to the customer in the form of a check at the end of the year or a statement credit.
For instance, if you buy $15 worth of groceries and ask for $20 in cash back, the cashier will charge $35 to your debit card and give you $20 in cash. Each store may have a limit on how much cash back you can get. However, you can just go to another store and get more cash back. Note that the cash back will fall under the debit cardâs daily purchase limit, which is usually much higher than the daily ATM withdrawal limit.