Check the rewards enlisted. If your credit card is providing reward points rather than a cash back, or a very less amount as cash back, then it’s a complete worthless deal for you. This reward points will allow you to purchase at a specific store with different protocols defining what you can buy and not buy. Some of the other cash backs provide good cash deal but, provides a very short time to redeem it.
Slow Credit Accumulation. Some credit cards provide you a cash back reward which allows you to build up the reward very slowly. Which means logically you have to spend a lot of money (in credit) to get your reward that you can enjoy only after a long time. In many cases, credit card charges extra money as well, which ultimately would not yield a worthwhile reward.
Check for the Limitations on Cash Back. Some banks restrict the amount of cash back that is how much ever you spend; the highest amount of cash back you can avail is set by your bank. Supposedly your bank provides 5 percent of cash back and the highest amount it can provide for cash back is Rs.500 and you spent Rs.25,000 for a washing machine through your credit card, the bank will allow only Rs.500 as a cash back and not 5 percent.
Check for the Limitations on Transaction. Almost all of the banks have set up a minimum spending value of Rs.500 to Rs.1,000 to get a cash back . But this amount may vary category wise for utility bills and retail outlet bills. Spending anything below this limit would not fetch a cash back so before selecting your credit card, consider all these criteria’s to grab the best banker which provides you the best facility on your credit cards.
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