Credit Card Cashback: Whenever we use a credit card for any bill or shopping, then later we have to pay back its money. Banks give us cashback facility on many cards. Whenever you make a payment at a grocery store or a bill, some cashback card gives you direct benefits on that. Apart from this, you also get more benefits on many brands like Amazon, Flipkart, or Zomato.
What is cashback credit card
A cashback credit card is a type of credit card. You can use it for your daily expenses. Using this, when you buy any item, you get some money back. This money is returned in the form of cashback.
By the name of cashback credit card itself, you can know that it is a credit card where you can get some cashback or rewards after every payment. Using this card, you can save your money as well as get additional rewards.
You can use this card even if you do not pay with any credit card. If you spend more than Rs 2 lakh annually, then you do not have to pay the annual fee. You will get the benefit of this card if you spend up to Rs 17,000 on online shopping and groceries every month.
How to choose the right cashback card
To get the benefit of this card, it is very important to select the right card first. You have to choose the card based on the way you want to spend the money. You’ll also get more value back with cashback on all purchases on all card types. You can also get the best deals with higher profits by choosing the right card.
You should check where you are paying the most every month before buying such a card. Suppose you spend more money on online shopping, then select the card on which you will get the benefit on shopping.
Many credit card companies give you points in the form of cashback or rewards. You also get higher rewards on some cards. It all depends on which company’s card you have.
Choose between rewards or cashback
You get rewards and cashback whenever you use the credit card. You must first understand the difference between these. Cashback simply means direct benefit, that is, it comes immediately to your account. Whereas, you get the reward after a while. You have to collect these points first, after that you can use it. You should take any card according to your need.
Take these precautions
While selecting any card, you should keep in mind that what are the terms and conditions of the card company? The rules of each company are different, in this case you should check them thoroughly before applying. You should make sure that the credit card you are looking for is compatible or not.
You should compare cards on the basis of annual fee, cashback rate, bonus category etc. If you use your credit card smartly, you can earn cashback and rewards for additional spends. Come, let us know which company’s card gives the maximum benefits.
Cashback sbi credit card
On this you will have to pay an annual fee of Rs 999. Whereas you get 5% cashback on online spends and 1% cashback on offline spends. If you spend more than 2 lakh rupees in 1 year, then you will have to pay the annual fee.
Axis Bank Ace Credit Card
You will have to pay an annual fee of Rs 499 on this card. At the same time, if you use Google Pay for utility bill payment, then you get 5 percent cashback. Apart from this, 2% cashback is available on all spends. The annual fee is waived off on spending more than Rs 2 lakh.
Amazon Pay ICICI Credit Card
You do not have to pay any annual fee on this company’s card. With this card, you get 5% cashback on Amazon for Prime members and 3% for non-Prime members. At the same time, 1 percent profit is available on the rest of the transactions.
Airtel Axis Bank Credit Card
The annual fee for this is Rs 500. As soon as you take the card of this company, you also get an Amazon e-voucher of Rs.500. Apart from this, 25% cashback is available on Airtel Mobile, Broadband, WiFi and DTH bill payments through the Airtel Thanks app. If you pay the utility bill, then you get a benefit of 10 percent.
Along with this, you also get many other benefits. If you spend more than Rs 2 lakh in a year, then the annual fee is waived off.
HDFC Millennia Credit Card
The customer of this card gets 1000 cash points as a welcome benefit. Whereas, 5% cashback is available on Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber and Zomato.
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