Choosing a credit card with cashback – what do I need to pay attention to?
Banking services today are not limited to simply providing a credit card with a certain amount of money. Banks attract clients not only by tempting and favorable conditions on the provision of funds, but also by an additional incentive – cashback, that is, cash rebates. We find out what points of the offer to pay attention to in order to get the maximum benefit.
What are the advantages?
The main advantage of credit cards with cashback is the ability to get a certain percentage of cash back on the amount spent by the client, for example, in a supermarket, at a gas station or on a trip.
The source of the cashback payment is an agreement between the buyer’s credit card issuing bank and the seller of the product. This is why the amount of cashback for companies – partners of the issuing bank and other participants in the program may differ for the same buyer’s payment card.
The conditions for the provision of credit cards from banks differ, so you can choose the most convenient for yourself. In some financial institutions you can even get a card with a cashback on the day of application.
How to get one?
The usual conditions for obtaining a credit card are:
- Availability of a certain verified permanent income from the client or movable and/or immovable property registered in the name of the borrower;
- The guarantee of one or two individuals;
- Positive credit history.
Until now, a frequent condition for obtaining a credit card is the personal presence of the client at a bank branch for preliminary registration of documents and at the final stage – when obtaining the credit card. However, there are more and more offers to apply for a credit card online.
What are the differences between the cards?
The main differences of credit cards with cashback are:
- The size of the interest rate, both on the loan provided and on the The size of the cashback rate;
- The cost of servicing the card;
- Types of extra bonuses: free minutes on your mobile carrier’s network, extra miles for flights, or discounts on purchases.
Decide which cashback credit card bonuses are best for you, and shop around to earn cash back. Then you’ll not only find it convenient to use your credit card, you’ll also find it profitable!