A cash back credit card is one that provides rewards against the purchases that you make from your card. You can accumulate these rewards as points, cents or miles and redeem the same as statement credit or cheque or deposit in your account. Below are few best benefits of holding a cash back credit card in 2017-
1.Ease of use:
A cash back credit card comes with an easy instruction and is not complex to understand and use for any purchase that you make. Knowing the rate of return on your credit card, you can easily calculate the cash back that you can expect after any purchase.
2.Swiping your card at Sponsored outlets:
There are various best brands that would be affiliated with you credit card and if you choose to buy any product from those specific brand would be able to receive more cash back on each transaction.
3.Swiping your card for specific transactions:
Knowing the best offers from various sectors of the market like, travel, hotel, education, e-commerce, you can expedite the earnings on you cash back cards. For example, if you are offered 3% percent cash back in garments and 7% cash back on restaurants. Using your cash back card at restaurants would make a big difference in your total earnings.
4.Ease of redemption:
The available cash back on your credit card can be redeemed easily by statement credit, cheque deposit, or a direct deposit in your account electronically. So, the process of redemption is quite easy and doesn’t take much time to get executed.
5.The Sign-up bonus:
Most credit cards offer a signup bonus if you make the specified amount of purchase within a specific number of days. The amount is usually credit with few months after the account opening.
6. Long Term utilization window:
The cash back points credited to your account can be utilized today or after six months. Once added to your account, it generally has a longer expiry conditions and so provides more flexibility to the customers to use the cash back points whenever there is a need or accumulate more points and get a higher return in future.
7. No limitation on earnings:
Generally. there are no limitation on cash back earrings and therefore the more you purchase using your credit card, the more cash back you get. Holding a high limit in your credit can give you more opportunities to earn greater points each month.
8. No transaction limit required for cash back:
Most cash back credit cards do not impose any pre-defined transaction limit to offer reward points and so you can earn even with your smallest transaction of the day. As, the cash back are either offered as a flat amount or a percentage of transaction amount, your opportunity to earn point is not restricted as all.
9. No limit on the transaction type:
Be it a treat at a restaurant or a travel on a holiday, the cash back credit card makes sure that you earn without actually working about “where to use?”, it adds to your wallet irrespective of the spending you have done on your credit card.
10. Other Miscellaneous benefits:
Most cash back credit cards comes with various protection plans like Purchase Protection, Price Protection, Zero Liability Protection, Return Protection and Extended Warranty Protection. These protection plans are important in case of an unexpected event of loss or damage. Having these plans on your cash back credit cards makes your card more safer to use and maintain for longer term.