The rebate rate on a rebate card is the percentage rate that you can earn rewards using the card. A rebate card is a reward card that is similar to a frequent-flier-miles card. The two types of rebate cards are cash rebate and brand-specific rebate cards. For example, a rebate card company may rebate you $1 in cash or credit for every $100 in new purchases you make with your card. This is a rebate rate of 1%. Most cards allow a yearly maximum to the amount of cash or credit they will rebate you.