Are Cashback Credit Cards Worth It

Sometimes cashback credit cards seem too good to be true. You earn a cashback reward while you spend using a cashback credit card and who wouldn’t want to earn cashback rewards on the stuff they are paying. To be precise you get a percentage of cashback on the amount you spend. When looking for a credit card, you would be tempted to go for a cashback credit card with a second thought back in your mind that ‘Are Cashback credit cards worth it?’. Not to worry, we are here to help you.

  1. Cashback credit cards are affordable, they do not have high joining and annual membership fees. They are pocket-friendly and one can easily vouch for them by meeting the eligibility requirement. 
  2. You can surely use the cashback earned on your credit card to clear the outstanding amount of your credit card. There are times when you forget to pay your credit card bill or you do not have readily available funds to pay off the credit card bill, then the earned cashback can be used to clear a minimum balance of the due amount depending on how much accumulated cashback you have. Even banks or credit card issuers can forfeit your cashback in favour of a credit card bill on default in payment.
  3. The Cashback rewards are directly credited to your account which makes it hassle-free when it comes to redeeming your rewards. You do not have to worry about the validity period of reward redemption.
  4. Usually, you get cashback on all the spends however there are few cashback credit cards that come with cashback offers only on the specific spend category. You do not earn cashback rewards on each and every spend. So, you need to check on which categories the credit card has cashback rewards and whether it meets your requirement or not.
  5. Another benefit you get on a cashback credit card is that the cashback never expires, you can use them anytime even after years from the date of receiving them.
  6. The earned cashback can also be utilized against any spending just not only in favor of credit card bill payment.

Bottom Line:

Are Cashback credit cards worth it? To answer the question of whether they are worth it or not, it completely depends on the credit cardholder how they use their cashback credit card. You need to see whether cashback credit cards meeting your needs or not, if they are then you can definitely go for it. Cashback credit cards are pocket-friendly and can help in building the credit history. 

To summarise you can earn cashback on all the spending, you can use your cashback to clear your credit card bill, they are directed credited to the bank account, they can be used for further purchases, etc. All in all Cashback credit cards are worth going for. Any credit card can prove to be advantageous if used responsibly and sensibly. Pay your credit card bill on time and you can bear the fruits of it.

Additional Reading – Line Of Credit Vs Credit Card – What’s The Difference

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