Explorer

Benefits And Drawbacks Of Cashback Credit Cards: What You Need To Know | Paisa Live

Credit card usage in India is growing, with cashback credit cards gaining popularity for their rewards on everyday purchases. These cards offer a percentage of your spending back as cash, effectively reducing your bill. For example, a 5% cashback on a ₹1000 purchase returns ₹50. Higher cashback rates may apply to specific categories like groceries or fuel. However, carrying a balance on these cards can lead to high interest charges that may outweigh the cashback benefits. Additionally, some cards come with annual fees, which may be waived if a spending threshold is met. To fully benefit from cashback cards, it's crucial to pay off your balance each month and manage spending within your budget to avoid late fees and protect your credit score.

Personal Finance Videos

Discover How You Can Pay Toll Tax Using Your Vehicle Number Plate | Paisa Live
Discover How You Can Pay Toll Tax Using Your Vehicle Number Plate | Paisa Live

New Reels

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

RG Kar Protest To End? After Surprise Visit, Mamata Banerjee To Meet Junior Doctors To Resolve Impasse
RG Kar Protest To End? After Surprise Visit, Mamata Banerjee To Meet Junior Doctors To Resolve Impasse
Ahead Of Assembly Polls In Maharashtra, Mahayuti Leaders Queue To Join Sharad Pawar's NCP
Ahead Of Assembly Polls In Maharashtra, Mahayuti Leaders Queue To Join Sharad Pawar's NCP
Taj Mahal's Iconic Dome Leaking, Garden Flooded After Heavy Rain Batters Agra; ASI Inspects Site
Taj Mahal's Iconic Dome Leaking, Garden Flooded After Heavy Rain Batters Agra; ASI Inspects Site
UP: 3 Storeyed-Building Collapses In Meerut; Over 10 People Trapped Under Rubble
UP: 3 Storeyed-Building Collapses In Meerut; Over 10 People Trapped Under Rubble
Advertisement
ABP Premium

Videos

Arvind Kejriwal's Post-Bail Visit, Delhi CM to Offer Prayers at Hanuman Temple TodayJ&K Assembly Elections: PM Modi To Address Mega Rally In Doda Today | ABP NewsJ&K News: Two Soldiers Martyred in Fierce Encounter with Militants in Kishtwar | ABP NewsJ&K News: Security Forces Take Down 3 Militants in Major Operation In Baramulla | ABP News

Photo Gallery

Embed widget