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Cashback Credit Card
Maximise savings effortlessly with our feature-packed cashback credit card!Cashback credit cards reward your everyday purchases by offering a percentage of your spending back as cash. Enjoy benefits like complimentary lounge access, fuel surcharge waivers and dining discounts.With no annual fee, these cards help you save money effortlessly while managing your finances.
Lifetime free card
Unlimited reward points
Other offersWhat is a Cashback Credit Card?
A cashback credit card is a great way to earn money back on your everyday purchases. Every time you use your card for eligible transactions, a percentage of what you spend is returned to you as cash rewards. These rewards can usually be redeemed as statement credits, direct deposits or even checks, making them versatile and easy to use.The main appeal of cashback credit cards is their simplicity. Unlike other reward programs that give you points or miles which might have restrictions, cashback is straightforward. You get money back that you can use however you like — whether it's paying off your credit card bill, saving up or spending on something special.Different cashback cards offer various earning rates. Some give a flat rate on all purchases, while others offer higher rates in specific categories like groceries, dining, gas or online shopping. There are even cards with rotating categories that change every few months, letting you earn more cashback on those categories for a limited time.When choosing a cashback credit card, consider the annual fee, interest rates and other terms. Some cards don't have an annual fee, which makes them even more appealing. Others might offer higher cashback rates but come with an annual fee.In a nutshell, a cashback credit card is a fantastic way to get rewarded for your everyday spending, providing flexibility and ease of use and helping you save or offset expenses effortlessly.
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Benefits of Cashback Credit Card
Cashback on all transactions:
Earn a percentage back on every purchase, from daily essentials to major expenditures. This feature ensures that you get cashback on credit card payments on a wide range of spending categories, making it easier to accumulate rewards effortlessly.
No annual fee:
Many cashback credit cards come with no annual fee, ensuring that your cashback earnings are not diminished by membership costs. This feature maximises the financial benefits of the card and makes it a cost-effective choice for all users.
Complimentary lounge access:
Enjoy access to airport lounges, providing a luxurious start or relaxation during your travels. Most cashback credit cards offer a limited number of complimentary visits per year, enhancing your travel experience without additional costs.
EMI options:
Convert significant purchases into manageable monthly instalments with low or zero interest rates. This feature helps you maintain financial flexibility while earning cashback rewards on your spending.
Fuel surcharge waiver:
Save money on fuel purchases with the benefit of a fuel surcharge waiver at petrol stations nationwide. This perk is particularly advantageous for frequent drivers or those with extensive commutes.
Additional perks:
Depending on the card issuer, you may enjoy additional benefits such as travel insurance, purchase protection and extended warranties on purchases made using the card.
Dining delights
Benefit from special offers and higher cashback rates when dining out. Whether you prefer fine dining experiences or casual meals, cashback credit cards enhance your culinary adventures with savings on every bill.
How to Redeem Cashback Rewards?
- Automatic credit to your Account: Many cashback credit cards automatically apply your cashback earnings to your statement balance.
- Statement credit redemption: Apply accumulated cashback towards your next credit card bill, reducing your outstanding balance.
- Bank account transfer: Some cards allow you to transfer your cashback directly to a linked bank account for added flexibility.
- Gift cards or merchandise: Convert cashback rewards into gift cards for popular retailers or choose items from a rewards catalogue.
- Travel rewards accumulation: Save cashback rewards for travel-related redemptions such as flights or hotel stays, enhancing your travel experiences.
- Direct purchase offsets: Certain cards allow you to use cashback rewards directly for purchases at select merchants, offering immediate value on your spending.
Fees & Charges for Cashback Credit Card
| Fee type & Charges | |
|---|---|
| Joining Fee | ₹0 |
| Annual Fee | ₹0 |
| Renewal Fee | ₹0 |
| Late Payment Fee | Up to ₹1,000* |
| Cash Advance Fee | 2.5% of the amount withdrawn (min ₹500) |
| Over Limit Fee | ₹500 per instance |
| Foreign Currency Mark-up | 3.5% of transaction amount |
| Card Replacement Fee | ₹100 |
| Cheque Bounce Fee | ₹500 per instance |
| Statement Request Fee | ₹100 for statements older than 6 months |
| EMI Foreclosure Fee | ₹500 per instance |
| Late Payment Fee varies based on the outstanding amount: | Up to ₹500: ₹100 / ₹501 to ₹5,000: ₹500 / ₹5,001 to ₹10,000: ₹750 / Above ₹10,000: ₹1,000Note: All fees are subject to applicable taxes |
How to Apply for a Cashback Credit Card?
- Compare different cashback credit card offers to identify the best fit for your spending habits and financial goals.
- Review the eligibility criteria specified by the card issuer to ensure you meet the requirements before applying.
- Gather essential documents such as proof of identity, address, and income to support your application.
- Visit the bank's official website and navigate to the credit card section to complete the online application form accurately.
- Upload or submit required documents as per the bank's instructions to facilitate the application review process.
- Wait for the bank to verify your application details and conduct necessary credit checks to assess your eligibility.
Eligibility & Documents Required for Cashback Credit Card
Eligibility Criteria
Age: 21-60 years
Income: Minimum income as per bank norms
Credit Score: Good credit score
Employment: Salaried with a stable income
Nationality: Indian resident
Documents Required
KYC Documents: PAN card, Aadhaar, passport
Salary slips, Income Tax Returns (ITR), Form 16 (if applicable)
Proof of Income: Salary slips, Income Tax Returns (ITR), Form 16 (if applicable)
Bank Statements: Last 3-6 months
This table provides a clear and concise overview of the eligibility criteria and the documents required to apply for a lifetime free credit card.
FAQs for Cashback Credit Card
A cashback credit card offers a percentage return of your spending as cash, providing you with financial benefits on your purchases, plus cashback on credit card payment allows you to earn rewards on your repayments and enjoy even more financial flexibility.
To repay a cash advance on your credit card, include the amount in your regular monthly payment or make an extra payment online towards the cash advance.
The best cashback credit cards vary based on your spending patterns. Look for cards offering high cashback percentages on categories where you spend the most, along with low or no annual fees and additional perks aligned with your lifestyle.
Cashback credit cards can be worthwhile if you pay off your balance in full each month to avoid interest charges and choose a card that complements your spending habits. They enable you to earn rewards on purchases you would make anyway, making them a valuable financial tool.
To obtain a cashback credit card, begin by researching available offers and comparing them online. Check your credit score to gauge your likelihood of approval, then apply through the bank’s website or in person at a branch. Provide all necessary documentation to complete the application process effectively.
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