There are many benefits of using a cashback credit card. Perhaps the most obvious benefit is that you can earn cash back on your purchases. This can be a great way to save money, especially if you use your card for a lot of your spending. Another benefit is that you can use your cash back rewards to pay for things like travel or statement credits. This can be a great way to save money on expenses that you would otherwise have to pay for out of pocket. Cashback credit cards can help you build up your credit history and improve your credit score. This can be helpful if you’re looking to take out a loan or get a mortgage in the future.
Table of Contents
How to select a best Cashback Credit Card?
When it comes to choosing the best cashback credit card, there are a few things you need to take into consideration. First, you need to make sure that the card you choose offers cashback on the purchases you make most often. For example, if you spend a lot of money on groceries, you’ll want a card that offers cashback on groceries. Secondly, you need to make sure that the card offers a good cashback percentage. The higher the percentage, the more cashback you’ll earn. Finally, you need to make sure that the card has a low interest rate and no annual fee. By taking all of these factors into consideration, you’ll be sure to find the best cashback credit card for your needs.
10 Benifits Of Cashback Credit Cards
There are plenty of reasons to use a cashback credit card. Here are just 10 of the many benefits:
- You can get cash back on all of your purchases, not just specific items or at specific stores.
- You can usually get a higher percentage of cash back on certain categories of purchases, like gas or groceries.
- You can use your cash back to pay down your credit card balance, or for other expenses.
- There are often sign-up bonuses for new cardholders, which can give you a nice boost of cash back.
- You can earn rewards points in addition to cash back, which can be used for travel, merchandise, or gift cards.
- Some cards offer extended warranties on purchased items, or purchase protection in case of theft or damage.
- Cash back cards can help you stay on budget by giving you a tangible way to track your spending.
- Many cards have no annual fee, so you can keep more of your cash back.
- You can often get additional cards for family members at no additional cost, so everyone can earn cash back on their purchases.
- And of course, using a cashback credit card is a great way to save money on your everyday spending.
Why use a Cashback Credit Card?
There are many reasons to use a cashback credit card. Perhaps the most obvious reason is to get cash back on your purchases. But there are other benefits as well. For example, cashback cards often have higher rewards rates than other types of credit cards. This means you can earn more cash back on your everyday spending.In addition, cashback cards can help you save money on interest.
Many cashback cards offer 0% intro APR periods, which can help you save money on interest if you carry a balance. And some cashback cards offer special financing deals on specific categories of purchases, like gas or groceries.So if you’re looking for a credit card that offers both cash back rewards and savings on interest, a cashback credit card is a great option.
Top 10 Cashback Credit Card Companies in India
There are a few things to consider when looking for the best cashback credit card in India. The first is the type of card you are looking for. There are two main types of cashback credit cards: those that offer a fixed rate of cashback, and those that offer a tiered system.
The second thing to consider is the amount of cashback you are hoping to earn. The best cashback credit cards will offer high rates of cashback, so you can earn a significant amount of money back on your purchases. Finally, you will want to consider the fees and interest rates associated with the card. The best cashback credit cards will have low fees and interest rates, so you can keep more of your hard-earned money in your pocket.
Here are the top 10 companies providing cashback credit cards in India:
- SBI Card
- HDFC Bank
- Axis Bank
- ICICI Bank
- American Express
- Standard Chartered
- Kotak Mahindra Bank
- IndusInd Bank
5 Reason to buy a Cashback Credit Card
Credit cards offer consumers a number of advantages over other forms of payment, such as cash or debit cards. Here are five reasons to use a credit card:
- Credit cards offer convenience. They can be used to make purchases both online and in-person. Credit cards also offer rewards and perks, such as cash back or points that can be redeemed for travel.
- Credit cards can help you build your credit history. Using a credit card and making timely payments can help you build a positive credit history, which can make it easier to get approved for loans or credit in the future.
- Credit cards offer protection. When you use a credit card, you are protected against fraud and other financial risks. For example, if you make a purchase with a credit card and the item is defective, you can dispute the charge with your credit card company and get a refund.
- Credit cards can help you save money. Many credit cards offer interest-free periods on purchases, which can help you save money on interest charges. Additionally, many credit cards offer rewards, such as cash back or points that can be redeemed for travel, which can help you save money on your purchases.
- Credit cards can give you peace of mind. Knowing that you have a source of financial backup can give you peace of mind in case of an emergency. For example, if you lose your job or have a medical emergency, you can use your credit card to cover your expenses until you are back on your feet.
Credit cards can be a great way to manage your finances and make purchases, but they can also be a major financial burden if not used wisely. If you are considering using a credit card, be sure to do your research and understand all of the terms and conditions before signing up. Once you have a credit card, be sure to keep track of your spending and make payments on time to avoid interest and late fees. When used wisely, credit cards can be a helpful tool in managing your finances.