Cash Back Vs. Travel: How to Choose Credit Card Rewards
Credit cards are everyday partners in meeting expenses and financial obligations. However, one must know that there are several types of credit cards in the market. Based on your interests and needs, you should choose a credit card in India. Credit card comparison is essential for choosing the right credit card in India. For example, if you are a movie buff, choose a credit card that offers movie tickets as rewards. Among all types of credit cards, travel and cashback credit cards have a huge following. Read on to know more about travel and cashback credit cards in India.
Understanding cash back credit cards
As the name suggests, a cashback credit card offers real money as a reward. For credit card transactions, you will get some money back in form of cash backs. Many people prefer cash back credit cards as they ask for low maintenance charges. Many cash-back credit cards do not charge a hefty annual fee or processing charge. You may or may not get cashback for every credit card transaction. However, you will get a significant amount of money as cashback in a billing cycle. Also, any other type of rewards like air miles or movie tickets will not be offered by a cashback credit card.
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Understanding travel credit cards
Instead of offering a cashback, a travel credit card offers air miles, hotel booking coupons, etc. You can get various perks via a travel credit card in India. Every reward offered by a travel credit card will be related to tourism, accommodation, or transportation. Many credit card users also rely on co-branded credit cards for air miles or hotel bookings. Co-branded credit cards are offered for a particular airline or a group of hotels. You can only use a co-branded credit card for facilities from a partner brand. Travel buffs can save a lot by using travel credit cards for daily expenses. As you use your credit card limit on a travel credit card, you will get rewards.
Comparing cash back and travel credit cards
Many people are confused between a cashback and a travel credit card. Well, you have to choose a credit card based on your spending habits. Choosing a credit card depends on your needs and financial habits. Travel and cashback credit cards have their benefits and rewards. A credit card will help you in a better way if you choose it according to your requirements. Don’t go for a travel credit card if you aren’t a frequent flyer as your air miles will be wasted.
You need to compare the best rewards credit card India to choose the right one. If you make many online purchases in a month, go for a cashback credit card. A cashback credit card is also perfect for making purchases for a wedding, anniversary, birthday, or any other event. During an event, you have to buy several things. A cashback credit card will help you get some of your money back when making purchases.
Travel credit cards in India are preferred by travel buffs and frequent flyers. Travel credit cards offer air miles and airport lounge access to frequent flyers. However, you may not get a cashback after booking a flight ticket with a travel credit card. Instead, you will get some air miles or other airline benefits. Travel credit cards are also preferred by businessmen that travel to new cities at regular intervals. Many travel credit cards offer discounts on hotel bookings in new cities. It can help businessmen reduce their accommodation costs when traveling to a new city. You can get in touch with your credit card issuer to know more about the perks of travel and cashback cards.
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Choosing travel or cashback credit card
Once you have decided between a travel and a cashback credit card, you need to choose the right issuer. One should choose a reliable bank in India for a cashback or travel credit card. A reliable credit card issuer will offer excellent customer support and listen to your issues. Also, a reliable credit card issuer maintains regular communication with the customers. Apart from reputation and customer service, you also need to consider the associated charges before choosing a travel or cash-back credit card.
You need to consider the annual fee, processing fee, late payment fee, and other types of charges before choosing a credit card in India. You also have to consider the interest charges before choosing a travel or cash back credit card in India. Make sure the issuer offers an interest-free period for the payment of credit card bills. Don’t fall for a credit card offers rewards but charges more interest. Be it a travel credit card or a cashback credit card, make sure you choose a reliable credit card issuer. Choose the best rewards credit card India in 2024!
