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How to Earn Cashback Effortlessly on Daily Expenses

Cashback means you get back a percentage of what you spend on a purchase or transaction. It’s a useful perk since you get some money returned, but many people ignore it because the amounts often seem small.

However, the way cashback is perceived is changing, all thanks to Cashback Credit Card options. A cashback credit card is a specialised offering that combines the conventional benefits of a card with valuable cashback, making your daily spending far more rewarding than before.

What are the Cashback Credit Card Benefits

The Cashback Credit Card offers cashback on various transactions, including:

  • Everyday expenses,
  • UPI payments,
  • Transactions done via the mobile banking application
  • Utility bill payments, and more.

The cashback percentage you earn varies depending on the card variant and on the type and value of each transaction. Therefore, review these aspects before applying for a Cashback Credit Card with any bank. Ideally, the higher the cashback percentage, the better.

For example, IDFC FIRST Bank’s Hello Cashback and FIRST EARN offers 5% cashback on transactions across various categories. Plus, you can enjoy 1% cashback on UPI spends and up to 6% cashback on travel spends, such as hotel and flight bookings done using the IDFC FIRST Bank mobile banking application. Now you can see why we said this is cashback you can’t overlook.

However, note that all cashback rewards are subject to terms and conditions. So, it’s important to read them carefully before signing up. These details are clearly stated across all banking materials, both digital and printed, so reviewing them before applying is essential.

How to Maximise Cashback Credit Card Benefits

  • Pay online for all your daily expenses:

Whether you are heading to the local market to get fresh vegetables and fruits or taking a cab to get to commute, pay online for all of them. You will earn attractive cashback on everyday spends, adding up to significant savings. Another advantage is that it helps you systematically track your spending.

  • Check for UPI cashback:

Today, most of the payments and transactions you make are routed through one UPI. A pop-up appears after some transactions, but it’s often overlooked because people assume it contains nothing noteworthy. However, consider opening it. It will take only a few seconds and may include a valuable cashback or discount offer.

  • Pay utility bills with your card:

Utility bills, such as electricity, water, and gas, are expenses you need to pay each month. Consider using your instant credit card to pay and skip long payment lines while completing transactions in seconds and potentially earning cashback. You can also automate these bill payments via the mobile banking app to ensure you never miss the due date.

  • Use the card to pay the insurance premium:

Insurance premiums, whether for health, vehicle, travel, or home, are required to be paid either periodically or as a lump sum. Making use of your credit card for these premium payments can help you earn cashback while maintaining financial discipline. However, do check the cashback policy of the issuer to check whether any categories are excluded.

Cashback Credit Card Application

By now, it’s clear that Cashback Credit Cards are far more rewarding than you might have thought. So, if you haven’t applied for it, go for it now.

The great advantage is that many banks offer the Cashback Credit Card as an Instant Credit Card. In simple terms, you need to complete steps like applying online, entering basic details and completing your video KYC to apply for it. Upon successful approval, the bank will issue your credit card immediately. If it is an FD-backed credit card, you can open and link your FD instantly digitally.

This means no long waiting time to enjoy the card benefits.

Summing It Up

Cashback may seem like a small benefit, but it isn’t when you realise how much it can add up each month and contribute to your savings. Cashback Credit Card options are now available.

As the name suggests, the key feature of these credit cards is the valuable cashback they offer to you. You can earn cashback on your everyday spends, UPI transactions, utility bills, and Insurance premium payments, depending on the card you choose.