Cash Back Vs Reward Points: Which One Is Better?

Bangalore: No doubt, credit cards have tremendously changed the way we live. However, it’s better to carry some extra bunch of cash every time you step out of the house, with due caution. Using credit card to make high transactions has proved to be more useful, than cash and carry. Because, you have the proof of transaction on which you can always rely upon. Apart from these benefits, credit cards also comfort the cardholder by providing benefits in form or rewards or cash back. Most people many people are consumed as to, which card is beneficial for them. Before taking a look at other advantages, let’s look at the advantages of Cash Back and Reward Points, listed by Bankbazaar.

Rewards Scheme

Reward schemes are one of the oldest forms of credit card benefit that is offered. The amount that is rewards on your credit card depends upon the type of card you have. Usually, gold, platinum and privileged cased get more reward points than just normal credit card. Like for instance, when you make a spending of Rs.150, you will get 1 point on the normal credit card. But whereas, if you spend the same amount from a platinum credit card you will be rewarded with 2 or 3 points on your expenditure.

Cash Back Scheme

At the time of inflation where prices of all the products are rising and haunting the common people, the only option left is to cut down on expenses and choose cash back on credit cards. That is because, cash back credit cards will enable the card holder to by earning free cash whenever he makes a purchase. Infact, through this, you can also help your credit card ratings.

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