Shop, Save, Repeat: The Best Cash Back Credit Cards in India Unveiled

Different types of credit cards provide different benefits to their holders. Many people get fuel credit cards, allowing the cardholders to save significantly on fuel spending. Many people, on the other hand, apply for cashback cards. These are popular credit cards because the benefits and rewards of this card are straightforward. The best Cash back credit cards in India will allow cardholders to earn a small percentage of cashback on their overall spending.

Later on, this cashback amount is forwarded to the credit card statement. On spending Rs. 1000 on a cashback card that provides 6% cashback, you will get Rs. 60 as cashback. This amount is then credited to the monthly credit card statement. In this post, we will talk about cash back credit cards in India and how you can benefit from them.

What Are The Best Cash Back Credit Cards In India?

Following are the best Cash Back Credit Cards you can apply for:

• HDFC Millenia Credit Card
• Amazon Pay ICICI Bank Credit Card
• Cashback SBI Credit Card.
• Flipkart Axis Bank Credit Card

What Is a Cash Back Credit Card?

A Cashback Credit Card offers users a refund whenever people spend money on the applicable cashback expense. It is one popular reason why many people have started online shopping and using credit cards for offline shopping at cash counters.

Depending on the banks, you can enjoy different credit card rewards. For instance, some credit cards provide a flat percentage back, whereas other types of cards provide a higher cashback percentage based on your purchase. It is all based on what you want and the type of cashback you prefer. In simple words, cashbacks are the best way to save some percentage and get back your money. You can also win reward points instead of cashback.

How Does Cash Back Credit Cards Work?

Generally, when your credit card is eligible for a cashback while shopping on eCommerce, you will get a small percentage of your amount back. Cashback is an ideal deal done between credit card firms and online businesses. For every transaction, the retailers pay a percentage of money to the credit card firm. The bank then shares a small portion of the earnings with its customers. The cashback differs based on the credit card you are using.

Cashback rewards generally differ based on the purchasing type. For instance, you can earn about three percent on gas or petrol purchases, 2% on groceries, and one percent of cashback on other types of purchases.

What Are The Different Types Of Cashback Cards?

Cashback credit cards are of several types, such as:

• Payment Cashback Cards: Paytm credit cards are provided by SBI and HDFC Cards.
• Shopping Cashback Cards: Shopping cards are the most popular as they provide remarkable deals. These types of cards are Axis Flipkart Card and ICICI Amazon Pay Card.

Cashback cards are amongst the most preferred cards since shopping is essential for all families and individuals.

Are Cashback Credit Cards Right For Me?

If you are amongst those who repay their credit card bills on time, then cashback credit cards will be the best way to get rewards on your regular bill payments. However, if you generally fail to repay the credit card bills, the interest charged on the outstanding amount will be higher than the earnings you will make through this card.

What Are The Things To Consider Before Choosing Cashback Credit Cards?

Consider the following things before applying for cashback credit cards:

Consider The Annual Fees

Like regular credit cards, cashback cards also come with annual fees. Ensure to consider this factor before applying. If you only spend roughly a few hundred rupees on your card, then the cashback amount you get is wiped out by the yearly fees.

Learn About Eligible Transaction For Cashback

Before applying for the cashback credit card, you must learn about the approved merchants to determine whether the card matches your spending pattern. For instance, if the credit card provides cashback only on gas or petrol, but you do not have a two-wheeler or four-wheeler, then that particular card will not be best for you.

Do Not Spend Than Usual

You may be tempted to spend more to earn more cashback. It can be a slippery slope and lead to credit card debts.

Maximum Cashback

Most cards put a full stop on the maximum cashback amount a card owner will get in a month. Consider the maximum cashback because you will get a fixed amount even if you spend a lot.

Conclusion: Best Cash Back Credit Cards

You must know these essential things about cashback credit cards before applying for them. Consider your spending habits and how much you generally spend in a month to determine the best cashback credit card. If you like to shop a lot, then the Axis Flipkart card may be your top-notch option.

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