How to earn higher cashbacks with credit card payments
Who does not like earning while spending? This may not sound unrealistic, but it is very much possible with credit cards. Credit card cashback is a rewards initiative wherein cardholders receive a portion of their spending amount back on purchases. This cashback is either applied as a credit to the cardholder’s account or offset against upcoming bills, reducing the overall cost of transactions. When utilising a credit card for a purchase, a specific percentage of the transaction amount is refunded to the cardholder as cashback. The exact percentage is contingent on the card’s terms, conditions, and the nature of the transaction.
Cashback may take the form of a fixed amount or a percentage of the transaction value and could be subject to limitations such as a cap or minimum spending requirement. Optimising cashback rewards requires a strategic approach. Here are some tips to help you increase your cashback rewards.
The first step to cashback success lies in selecting a credit card that aligns with your spending habits. Many credit cards cater to specific categories such as groceries, dining, travel, or fuel. By identifying your most frequent expenses, you can choose a card that offers higher cashback rates in those categories.
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There are several credit cards that provide cashback on routine purchases such as groceries, dining, and utilities. Optimising cashback earnings involves selecting a card tailored to your most frequent spending categories.
Credit cards often collaborate with online retailers or specific e-commerce platforms, offering elevated cashback rates for transactions made on these websites. At the same time,
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