May 20, 2024

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Maximising Cash Back: Insider Tips for Rewarding Credit Cards

3 min read

Credit cards are significant financial tools providing many benefits that suit your needs and lifestyle. Getting cashback is one of the perks received with some credit cards. Receiving cashback means you get a percentage of your qualifying purchase returned to you as a reward. But every card has a different redemption option, and you can get the cashback as a statement credit. You can use that to get gift cards, transfer them directly into your bank account as cash, or even use them for purchases with some particular retailers. 

Review the section below to understand how to maximize your cash-back rewards from the Flipkart Axis Bank credit card and make the most of it. Get higher benefits from your card if you only know how to implement these tips and get the maximum rewards. 

Top Tips for Maximising Your Credit Card’s Cash Back Reward 

Don’t be limited by whatever cash back you receive. Instead, learn how you can maximize it. Implement the points below to get the most out of the credit card’s cash-back reward.

Find a Suitable Credit Card

One of the best ways of maximizing cash back is picking a card that aligns with your financial goals and is suitable for your needs. Consider which categories you spend the most in and whether you travel or shop online. These things will help you decide which card you need and what kind of cashback you prioritize the most.

Don’t Overspend to Earn More Rewards

Get rewards whenever you spend more than your requirement, but you should not overspend deliberately to get a lot of cashback. Spending may be required, but you cannot eliminate positive gains and accrue debt, late payment fees, and interest charges. You should never spend more than you naturally would and then get your rewards on it.

Active the Reward Categories Manually

Some credit cards may have rotating reward features where you must manually activate the rewards you want every quarter. You may miss out on high cash-back rates if you forget to activate it.

Earn a Welcome Bonus

Cash back cards, such as the Flipkart Axis Bank credit card, offer a welcome bonus when you spend a specific amount within a fixed time frame. It is a good way of getting higher cash-back earnings if you are not overspending to reach it.

Pay Off Your Statement Balance Completely Each Month

You may accrue a small debt if you spend consistently for your needs. In that case, ensure that you pay off your dues on time each month to avoid paying expensive charges. That will cut into your cash-back rewards and may not make it as beneficial.

How to Redeem My Cash Back?

You can redeem your cash-back reward using the Flipkart Axis Bank credit card. At the same time, it depends a lot on the kind of card you are using and your issuer. However, below are some common ways of redeeming your cash.

  • For purchasing from select merchants, such as Amazon
  • A statement credit
  • A gift card
  • A direct deposit linked with a bank account

The best option is to redeem your cash back as a direct deposit or statement credit. You can increase your bank account balance by getting it as a deposit and reduce your credit card bill by having it there. Your credit card will consider one reward point as a single cent when redeeming the cash reward, but it also varies depending on your card and issuer. 

Conclusion

A cash-back credit card is a great addition to your wallet, and you can use it to make any purchase. You will get cash rewards for every eligible purchase made, but you need to also avoid overspending at any point. You can maximize your cash-back rewards by following the tips above and using the credit card app to track your rewards. 

Ensure that you start by picking a card that meets your lifestyle and needs. Not every person spends the same thing, so you can check what your expenses generally involve and then pick the card that caters to those purchases. Get the most rewards that way and use them however you want.

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