NEWS & ADVICE : CREDIT CARDS
Are cash-back credit cards a real good deal?
By Ankit Sharma
Print    Email    RSS   

Some of the pitfalls of the cash-back credit cards are:

Cash-back offers are available with minimum purchase limit. For instance, HDFC Bank Business Gold Credit Card gives only 1 per cent cash back on domestic air tickets and utilities bill payments, for a minimum expenditure of Rs 7,500. Similarly, HDFC's value Plus Credit Card which gives 5 per cent cash-back on money spent on hospitals, medical stores and booking of railway tickets. Moreover, it comes with the condition that cash-back will only be valid if the outstanding amount on the current statement of the customer is higher than Rs 10,000.

In order to protect the bank's interest, the bank usually puts a cap on maximum monthly amount that can be claimed in the form of cash-back. This helps banks to estimate their claim liability well in advance. The cap can either be in terms of maximum money that can be claimed or number of transactions on which one can claim cash-back.

Moreover, cash-back cards are not free. Banks often charge some amount of joining fees. In, many cases, banks pitch their customer by saying that there are no annual fees or joining fees for the card but then in reality it might not be the same. Some charges can be waived off if one spends a minimum sum within a stipulated time.

One cannot even club cash-back offers given by different merchants from which the card has tie-ups. For instance, if one has a credit card, which has tie-ups with vendors providing two offers like 10% cash-back on movie tickets and one ticket free for every two movie ticket purchased during a particular month. Here, one can only avail one of the two offers.

Cash-backs don't happen immediately. Usually, it takes up to 20-30 days for the cash-back money to reflect in the card statement.


Page    | 123 |  
(Comments Posted : 3) Post Your Comments
1. Welcome to Thomas Credit Firm, I am an international business man and Lender that has offered Loans to so various individual and firms in Europe, Asia, Africa and other parts of the world. We give out our Loan for a interest rate of 2% per annul for a minimum of 100.00 to a maximum of 100,000,000.00 rubles, dollars, pounds, euros, etc. The maximum loan term we can offer is 30 Years at fixed interest rate.
Available Loans
* Personal Loans (Secure and Unsecured)
* Business Loans (Secure and Unsecured)
* Combination Loan (Secure and unsecured)
* Consolidation Loan (Secure and unsecured)
* Mortgage Loans (Secure and unsecured)

Interested candidates should please contact us today for your online quick and easy loan without collateral deposits. Email: thomascreditfirm@gmail.com

Sincerely,
Thomas Dawson (Posted: Jul 9, 2015)
2. i am also using stand chart manhattan platinum credit card which gives casn back on supermarket purchase, its good. www.trekbook.in
mahesh (Posted: Apr 20, 2014)
3. Standard Chartered Bank also provides one more cash back card. It is Manhattan Platinum Credit Card.
It gives 5% cash back for shopping at all supermarkets and retails stores if the min. purchase is Rs. 100. Maximum Cash back per transaction is Rs. 200 and max. cash back per month is Rs. 500.
There is no joining fee and no annual fee for the first year. After first year they will charge Rs. 999.
I am using this credit card since last three year very happily.
gireesh kumar punjot (Posted: Jan 30, 2013)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #5
Safety tips to use plastic money online
Electronic fund transfers- making life...
Spoiled credit history? - Get a secured...
Must have add-ons for luxury car insurance


Hotel: CaℒL Giℛℒ In Panchkula 09876983081...
Good Morning, i forgot my FCMB Account Number and...
Radhey@09646870399 @Escoℛts In#Chandigarh...
Radhey@09646870399 @Escoℛt In#Chandigarh...

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive