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Usually, you get reward points and discounts for spending more with credit cards. But in cashback credit cards, you get cashback with every spend on e-commerce websites.
Peeti teels Ajay every time she shops with her credit card, she receives cashback. recently when Prreti bought an iPhone 14 with her credit card, the online price was 67,000 rupees, but she got it for 64,000 rupees with a cashback of 3,000 rupees on the card.
An excited Ajay also wants a credit card that gives cash back. But what is a cashback credit card?
In such credit cards, the company provides cashback on every purchase made by the cardholder. That’s why these cards are called cashback credit cards. Usually, you get reward points and discounts for spending more with credit cards. But in cashback credit cards, you get cashback with every spend on e-commerce websites.
Credit card companies collaborate with e-commerce companies to attract more customers with cashback offers. And due to this, the shopping websites get more buyers. It’s a win-win situation for both Credit card and e-commerce companies.
Often they collaborate and launch a co-branded card. When you shop for brands or on platforms associated with the card, you get cashback offers. Like Amazon, you get cashback offers on shopping on Flipkart, Myntra, Zomato, etc. So even if you don’t spend much through your credit card, you still get discounts in the form of cashback with every shopping, every order.
Cashback is the simplest form of benefit that comes with these credit cards. Spend money and get cashback on it. No need to wait for rewards or vouchers.
Now, Let’s discuss crucial point.
How do you choose a credit card for yourself? Which cashback credit card would be the best for you?
You should first evaluate your monthly expenses. You should also notice where you spend the most.
Generally, people spend the most on essentials like ration, fuel, restaurants, shopping, travel, and utility bills of electricity, water and gas.
You can choose cashback offer credit cards based on these categories
For instance, if you shop a lot online and you have the Amazon Pay ICICI Credit Card, Flipkart Axis Bank Credit Card, and Myntra Kotak Credit Card you can get these cashback offers ranging from 1.25% to 5% on every order.
Let’s talk about other cards. SBI, Axis Bank, and HDFC have cards in this category as well. Starting with SBI Credit Card you can get 5% cashback on all types of online spending and 1% cashback on offline spending with this card .
If you make digital payments through GooglePay, you can consider the Axis Bank Ace Credit Card. Here, you get 5% cashback on payments made via Google Pay for bills of electricity, internet, gas, DTH, mobile recharge, etc. You also get 4% cashback on Swiggy, Zomato orders or Ola cab bookings. Apart from all these, you also get 2% cashback on other types of expenses.
The Airtel Axis Bank Credit Card provides a hefty 25% cashback for paying bills for Airtel mobile, broadband, WiFi, and DTH bills through the Airtel Thanks app. Additionally, you’ll get 10% cashback for shopping on grocery delivery apps like Swiggy, Zomato, and BigBasket. Along with these offers, you also get 1% cashback on other numerous expenses.
With HDFC Millennia Credit Card, you get 5% cashback on various apps including Amazon, Myntra, Flipkart, BookMyShow, and Uber. You also get 1% cashback on other types of expenses. This way, you can save big every time you make small daily shopping transactions. Except for Amazon Pay ICICI Credit Card, you have to pay annual fees for all other cards. The annual fees range from 499 rupees and can go up to 1,000 rupees. If you spend a certain fixed amount annually, this annual fee will also be waived off. Hope you’ve understood the complete story of cashback credit cards now. Get a credit card according to your needs and do savings-oriented shopping.