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Common Frequently Asked Questions About Cashback Credit Cards, Answered!

Here's Your Guide to Cashback Credit Card!

By Kirti BhargavPublished 2 years ago 3 min read
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In the credit market, you will find a wide range of credit cards. Among all types of credit cards, cashback credit card is one type that you can go for. It is common to have questions while applying for a credit card and you should definitely ask questions in order to make an informed decision. In this article, all the first-time credit card applicants can find useful cashback credit cards FAQs. Cashback credit cards are exactly like other types of credit cards with few differences while it helps credit score and financial stability like any other credit card would do.

Here Are The Cashback Credit Cards FAQs:

Q1. What is a cashback credit card?

The reward benefit on cashback credit cards revolves around the cashback on the transactions. You earn about 1%-6% cashback on the cashback credit cards on the transactions. On payment of the joining fee, you get the welcome benefit of a bonus of cashback on a few cash-back credit cards. You get to enjoy the shopping, travel, movies, and dining benefits on these credit cards.

Q2. How do they Work?

On a specific transaction or on every transaction made using cashback credit card lets you earn a percentage of cashback. The earned cashback is directly credited to the credit cardholder and can be used to make further transactions.

Q3. Does cashback earned on a cashback credit card expire?

No, the cashback earned on the cashback credit card does not expire. This is the benefit you get with this type of credit card as compared to reward point-based credit cards. Reward points have a validity period during which you can redeem them while on cashback you do not have such a stipulated time period. Also, you do not have to worry about the redemption on these credit cards since they are directly credited to the account.

Q4. Are credit cards with cashback worth it?

For first-time credit card users, they are the best type of credit card to go for as they are the most affordable credit card. You can get cashback credit cards at zero joining and annual fees and enjoy the shopping, travel, movies, and dining benefits. This is why they also fall under lifetime free credit cards.

Q5. How to maximize cash back benefits on cashback credit cards?

To maximize the cashback benefits on these credit cards you can avail of the welcome and milestone spending offers that let you earn the bonus cash back. Also, before applying for a credit card analyze your spending habits. If they are aligned with the cashback program then you can apply for the credit card that suits your profile best. Use the credit card for those transactions that let you earn cashback.

Q6. Which credit card pays the most cash back?

Among the best cash back credit cards, you can apply for the below-mentioned cashback credit card that pays the most cashback:

  • HDFC Bank Millennia credit card
  • Standard Chartered Super Value Titanium credit card
  • RBL Bank Edition credit card
  • Amazon Pay ICICI Bank credit card
  • Flipkart Axis Bank credit card

Bottom Line

We hope that the above-mentioned FAQs might have helped in clearing out the queries regarding the cashback credit cards. You will not be disappointed in vouching for a cashback credit card. The best thing about these credit cards is that they are pocket-friendly and still let you enjoy the shopping, travel, movie, and dining benefits. They are a complete package to go for. Also, you do not have to worry about the redemption process as the cashback earned on these credit cards will be directly credited to your account. To enjoy the endless benefits you need to keep in mind to clear the credit card dues timely and keep the Credit utilization low. Those who do not have a credit score can easily avail of the cashback credit card on satisfying the other eligibility requirements. To start off with the credit journey the cashback credit cards are the best as they are lifetime free credit cards and are most rewarding.

Comment down if you have any other questions regarding the cashback credit cards we would love to answer so that you can be well-informed before making any decision. Also, if you are already a cashback credit cardholder and have any doubt feel free to mention it we would do our best to help you in the best possible way.

personal finance
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About the Creator

Kirti Bhargav

Financial Content Writer at Cardinsider.com

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