The reason why people choose to have credit cards is to gain financial stability. However, there are many people who use credit cards not just to enjoy the credit limit but also the benefits that they offer. Credit cards come with multiple benefits such as Rewards, cashback, travel benefits, etc. The simplest form of the benefits provided by credit cards is cashback and Cashback Credit Cards are the tools that you provide the same. A credit card with cashback earns you cashback on all your spending and allows you to save a percentage of what you spend every time you make a purchase.
Cashback credit cards provide you cashback on all you spend but most of them come with accelerated cashback offers on Selected categories that can be your travel, entertainment, or anything. In this article prepared by the experts at Banking of India, we are going to provide the list of the best credit cards that would help you to save your hard-earned money on purchases and expenses that you would make using the credit card.
Best Cashback Credit Cards
With lots of options available when it comes to having the best cashback credit cards it has become difficult for people to choose the right one and one that offers the maximum benefits.
HDFC Bank Millennia Credit Card
On-boarding benefits
1,000 cashpoints as a newest member.
Rewards Rate
5% cashback at selected online merchant partners and 1% cashback on rest transactions (except fuel and other governmental transactions)
Joining Fees
Rs 1000 +taxes
AU Bank Altura Credit Card
Welcome Benefits
5% cashback on their credit card if they are able to spend INR 2500 within the 60 days of issuance.
Rewards Rate
E-vouchers from all the partner brands and merchandise from AU Bank Catalogue, flight ticket reservations and DTH recharges.
Joining Fees
Rs 199 (Plus applicable Taxes)
Standard Chartered Smart Credit Card
On-boarding Benefits
Membership of Amazon prime, MMT, Swiggy, Times Prime Smart comes along with HDFC Club Bank Diners Privilege Credit Card.
Reward Points
On every purchase of 150 INR there would be total 4 reward points.
Joining Fees
Rs 1000 + fees
Standard Chartered Super Value Titanium Credit Card
On-boarding Benefits
1,000 cashpoints as a newest member.
Reward Points
5% cashback at selected online merchant partners and 1% cashback on rest transactions (except fuel and other governmental transactions)
Joining Fees
Rs 750 + Taxes
Perks of Cashback Credit Cars
For individuals who aim to save more cash using credit cards then cashbacks might be the right option. With these cards, you earn cashback every time you spend using the credit card and this cashback gets credited directly to your card. Here are some key perks why you must consider cashback credit cards.
- A cashback credit card allows you to save 20% or even more on all your spending. You save every time you spend and this cashback gets credited straight to your bank account.
- The redemption of cashback is very easy and hassle-free just like reward points as it is automatically credited to your account. Moreover, you get the independence to use your cashback wherever you want.
- Most of the cashbacks are affordable for everyone as they come with low or no annual fee and some of them are lifetime free as well.
How to Choose the right Cashback Credit Card?
Who in this world doesn’t want his/her money saved? The best option you have to do the same is to get a cashback credit card. But again, since there are multiple options in the market. Don’t worry!!
The very first thing you need to understand before finalizing the cashback credit card is your shopping habits. Just understand your spending habits. Just categorize where you spend more. For instance, if you order food frequently from Zomato, or Swiggy then go for a card that offers cashback on these food delivery partners. So just take time and analyze it carefully.
How to Apply for Cashback Credit Cards?
Just like any other credit card, there are multiple ways to apply for Cashback Credit Card. You can apply online as well as offline for the same. To apply online for the cashback credit card, you have to visit the card issuer’s official website and fill out the application form there.
For individuals who don’t prefer to apply online, they can visit the nearest branch with all the required documents. Whichever mode suits you just apply for the cashback credit that meets all your needs and requirements.
Closing words
A credit card offering with a cashback benefit can be helpful in multiple ways. The only thing you need to do is just choose the card as per your needs. As most of the cards in the credit card market offer cashback, it is essential to understand the categories and spending behavior. You should also compare the cards on the basis of major aspects such as travel, movies, dining, fuel benefits, etc. So if you are well aware of your spending habits and found the right cashback credit card then just go for it.
However, if you have any confusion related to Cashback credit cards then feel free to ask us in the comments section below.
Frequently asked questions related to Cashback Credit Cards
If you are looking to earn rewards instantly on your purchases then cashback credit cards would be a great choice as you get cashback instantly in your account.
When your credit card makes a transaction, you earn a percentage of the transaction in the form of cashback.
Cashbacks are provided on the transactions you do with your credit card therefore you spend more cashback will be rewarded to you.
Yes, non-Amazon Prime members can also get a cashback of 3% on Amazon using the Amazon ICICI Credit Card.