))
All That You Need To Know About Cashback Credit Cards.
Manage episode 331315127 series 3359270
Content provided by Dinesh Sharma. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dinesh Sharma or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Earn cash in your account every time you shop with your credit card. Sounds too good to be true, right? That's precisely how a cashback credit card works. With that said, there are certain nuances to be followed while picking up the right one that works for you. Here, in this guide, we have rounded up the key details that you should know while choosing cashback credit cards.
Click on this link to know more about the cashback credit cards: https://cardinsider.quora.com/Everything-You-Need-To-Know-About-a-Cashback-Credit-Card
What are cashback credit cards?
Cashback offers are one of the most popular offers right now. Online consumers are well-aware of how cashback works. Digital wallets, food delivery apps, ecommerce portals all offer cashback offers to entice customers to spend and shop more.
How do cashback credit cards work?
Every time you use the card, a percentage of the amount you spend is credited to your account in the form of cashback. For instance, if your card gives you 1% cashback, then you earn Rs. 10 for every Rs. 1000 spent.
Which transactions qualify for cashback offers?
It depends on the card type you choose. Today, the majority of cashback credit cards offer cashbacks for all kinds of expenditures like shopping online, in-store purchases, dining, travel, fuel, lifestyle purchases, utility bill payments and more.
Types of Cashback Credit Cards
Cashback credit cards can be classified into different tiers, based on how much cashback they offer:
- Some cards offer a fixed percentage as cashback, irrespective of how much you spend and where you spend.
- Some cards offer tiered cashback depending on the total amount you spend using the card in a year. To give an example, you earn 1% cashback if you spend less than Rs. 1 lakh annually and 2% cashback when you spend more than that. Be extra careful when choosing this type of cashback credit card, as you could end up spending more than you usually would, to earn the extra cashback.
- Other cards offer different rates of cashback, depending on where you spend. For example, you could earn 3% for fuels, 2% on dining out, 1% on online purchases and so on.
26 episodes
Share
