In the twenty-first century, people have excellent tools that help save the family budget. In this case, even the usual things can be optimized so that they will generate income. One of these tools is cash back credit cards. Cashback allows you to earn by spending your own money. A lot of users have already met and appreciated this awesome feature of Visa or Mastercard credit cards.
What is the Cash Back Credit Card?
Competition in the banking services market forces banks to use new methods that make payment cards even more functional. Many banks issue loan cards with a cash back, which are suitable for different purposes and needs. Some return a small part of all purchases, others — larger amounts in special categories, and others allow the cardholder to choose the conditions of return. If you found yourself in the uncomfortable situation of lacking money online loan option can be interesting for you.
Peculiarities of Cards with Cash Back
Cashback meaning is a refund of a part of the amount from your purchases back to the card account, as has been mentioned above. It can act on all types of spending, on certain categories of them, or on the card’s partners. With Visa cash back credit cards you can significantly save on purchases in supermarkets, dinners in cafes, at gas stations, as well as online stores websites. Is it worth to say that this is an awesome opportunity to buy more? Just imagine that from this moment you won’t have to hesitate if to do some buying because now the price is your friend. The refund of money will also help you to plan your expenses and gain profit of them with security.
How Loan Cash Back Cards Differ?
Paying with a credit card you receive a certain percentage of bonuses to your bonus account or actually some sum of money — cashback, thus the bank encourages its customers to get the most from the cooperation with it. Of course, the financial institution gains significant benefits, but nevertheless, customer can redeem from 1% to 5% of the purchase amount. If you still do not get cash back when making payments in retail outlets and online stores, then it’s high time to provide yourself with a credit card with a refund possibility and stop to worry about the value of the desired thing.
You should be aware that there are two different types of cards with a refund possibility transaction. They vary in the rebate cash procedure and can have variable and fixed rates respectively. We’ll try to explain to you in plain words what it means.
|Variable Rates||Fixed Rate|
|The peculiarity of this type of cards is that the bank offers you a money refund, of course, but the percentage from the purchase will differ. What does it mean? You will be provided with the list of categories in which you can get a cash back and the rates of it will vary for every one of them. So, read the agreement carefully not to have deceived expectations later. For example, the Citibank clients are earning rebates for grocery purchases — 6% and for bill payments 2%.||This kind of cards with a cash back provided is perfect for those who don’t want to dig in the complicated schemes. The only thing you have to know that you are guaranteed a cash refund each time you use your card, even if the product is already with a discount. Though, the rate is fixed but it can be lower than the one that is suggested in the first type of cards described. it is worth to mention UnionBank, it pays back 1.5% rebates cash for all purchases has the best conditions of the cash backs with a fixed rate in the Philippines.|
Fees for the Use
Aren’t these cards cool? Of course, they are. Still, you have to be prepared to pay some fee for the use. Each month of the taking benefits from a bank loyalty program will cost you approximately PHP 208-PHP 291. Also, don’t forget about an interest rate which can go up to 3,5%. These things are important to remember and to be in touch. Anyway, if you use your card frequently enough all these fees won’t be crucial for you and hardly cause substantial inconvenience in your financial situation. Speaking of the finances, there’s a great possibility to get a personal loan from Binixo without much hassle and in the fastest time. All the information about our company is provided.
You have to Know This
The important information for the cardholders with credit cards with a cashback Philippines:
- How long to wait for a reward?
The cash back card refund procedure is ordinary as follows: in the current month, you are making the payment with a card for various goods and services in a cashless way. Next month you will earn rebates cash provided by the bank’s tariffs, and it can be considered both from all purchases and from purchases of certain goods, for example, only when making payments at gas stations, cafes or pharmacies. A cashback rate from any purchases is usually 1%.
- How much to spend to get rebates?
To receive the desired money refunds you are obliged to have the specified level of expenses in the spending categories. Otherwise, you won’t get any cashback or it will be lower than you’ve expected. That is why try to be precise and control your card account. First of all, this is for your best benefit, stability, and prosperity. You do this also by means of appropriate mobile phones apps.
- Be sure to remember!
Note that if you overrated the maximum you cannot hope for the money amount difference. The customer has the right only for the indicated in the agreement financial transaction rebates. Although, you will be able to gain rebates points once again in the following month. Typically, the highest possible amount of refunds is PHP 1000.
- Which transactions are not paid back?
Application for a loan card with a refund of money you have to be careful while signing the agreement. Read it very attentively because there the spending categories are stated. These can be online shopping, goods list or receipt cashback. If you use your card for other purchases, for example, you won’t receive any reward.
Credit cards with the possibility of cash back are the most interesting and most importantly advantageous offer from banks today, primarily because they promise to pay back from 1 to 6% of the amount spent back to the card account. Almost every bank offers a cash back card with its own conditions for earning a refund and its limitations. The choice is very large and all lovers of social shopping should definitely get the best cash back credit cards the Philippines and save on spending money. Don’t be afraid to make your life easier and put in it colors!