NEWS & ADVICE : CREDIT CARDS
Make more out of your credit card with ‘Cash Rewards’
By Ankit Sharma
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Using an appropriate cash back credit card, you can save on each of these expenses, as shown in table 2 below:

Savings using cash back credit cards#

Card Offers

Monthly Expenses

Savings (in Rs.)

2 % Cashback : Air ticket

25000

500

3 % Cashback : Utility Bill Payments

8000

240

Surcharge waiver : Rail tickets

8000

144

Surcharge waiver : Petrol

6000

150

 

45000

1034

                                         Table 2

# The above figures are hypothetical expense estimates.

From the table above we find that travel by air and railways both constitute major expenses. The air travel expenses are as much as 51% of the total monthly expenses. On basis of this, one should analyse the monthly and recurrently expenses and choose a card that offers maximum value (in form of cash rewards) on your spendings.

It is important to note that cash rewards are not the same as cash. When a card company entitles you to cash rewards, it is not extending liquid cash in hand or in you bank account. The cash rewards are credited in the ‘card account' and can be adjusted against the future payments on the card.

 


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