With more and more people going for online shopping and cash back, a number of banks have decided to market their credit card on cash back portals. While the benefit of receiving cash back on purchases made using the credit card is already there, now the customers have on additional advantage: they can get their first cash back from a portal itself if they buy a credit card from one of the banks listed on it.
The cash back credit cards available on the cash back portals have the same advantages as those bought from elsewhere. They are usually issued to people with impressive credit history only and their use can make the customer eligible for cash back and rebates as usual.
- Before going for a credit card, however, a consumer should check the following:
- He should check what percentage of the amount spent is given as cash back. Some banks have different cash back slabs for different amounts of expenditure. For example, they may give you a cash back of 2 percent only on all your shopping up to one hundred pounds and increase it to five pounds in case you spend anywhere between a hundred to two hundred pounds.
- He should check whether some types of spending will fetch them more cash back than other types (for example, a bank may offer you more cash back if you buy a mobile from a mobile shop and less if you buy a pizza)
- Whether the bank imposes restrictions as to the places of shopping should also be checked.
- The annual charge of the credit card usage is another important thing.
- The last but not the least:
the cash back payment method. Whether the cash back is credited directly in to the account of the customer or he is offered rebate coupons for the next purchase should also be verified by him.
Basically there is no difference between the credit cards on cash back portals and those offered by banks directly. A bank may promote the same card on a portal and on its own website. The benefit of availing it from a cash back portal is that one gets additional benefit in the form of cash back which the portal has to offer.
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Source: www.articledashboard.com
