Dec 27, 2021
What could be better than spending some money, and receiving a percentage of it back to spend on something else? Not much.
The best way to earn “cash” is by using credit cards with cashback rewards. Credit cards with benefits help you save money as you spend it. But such cards often come with a significant annual fee, and the only way to justify this fee is to use the card in a way that helps you maximize your benefits. If not sure how to do that, keep reading for some basic pointers on how to get the most out of your cashback credit card!
Know the details
Before you apply for a cashback credit card, read the fine print to understand the terms and conditions for collecting rewards. Some credit cards pay cashback solely on online shopping. While some cards require you to do all of your shopping from selected stores in order to earn the benefits, others may specify a minimum amount of money that you must spend within a month in order to reap the benefits. This will help you find a card that offers significant cashback benefits that suit your lifestyle and spending habits.
Earn the welcome bonus
Most cashback credit cards offer a welcome bonus that help you get a head start on earning rewards. So do your research to ensure you’re choosing the best cashback card with a solid sign-up bonus and with minimum spending requirements that you can easily fulfill.
Shop and spend smartly
Avoid using a debit card or cash if your transaction is eligible for cashback on your credit card. Also, consider your card's online and offline shopping benefits. If it gives cashback for online purchases, try to do the majority of your purchases online instead of going to the physical store. If your card provides additional benefits on fuel refills, make sure you use it every time you visit the petrol pump. Using your card religiously and smartly will help you earn more rewards.
Understand your spending pattern
Earning additional cashback might become more convenient if you analyze and comprehend your spending habits. If you are a compulsive shopper, seek a card that provides the most incentives for purchasing at retail stores and brands. If you spend a lot of money on groceries and utility bills, pick a credit card that offers more rewards in these categories. However, some cards limit your monthly cashback. Hence rather than choosing them, choose the ones with no benefit cap so that you can earn as much as feasible.
Enjoy promotional offers
Make sure to take advantage of the promotional offers. As a result, explore the market for some of the most promising and lucrative cashback deals. After you've considered all of your options, choose the card that works best for you. If you already have a card, keep an eye out for seasonal discounts and deals, especially during half-yearly and annual promotions, and plan to do the majority of your shopping at that time. This will help you earn and enjoy more rewards.
Pay your bills
Cashback credit cards have various advantages. However, you should only use them if you are confident that you can pay your bills on time since credit cards come with high interest rates. If you do not pay your bills in full each month, you will most likely wind up paying more in interest than you might have earned in cashback. Consider your monthly budget and spend accordingly.
Cashback credit cards are a great way to get rewards based on your spending habits. At BanqMart, we help you to find the best credit so you can maximize your benefits. Contact one of our experts today to learn more.
Having a good credit score is essential for obtaining financial services in the UAE. It is a three-digit value assigned to individuals based on their financial activities, such as debt repayment schedule, number of active loans, and on-time or delayed bill payments. A good credit score can help you get loans and credit cards at reasonable interest rates and with a higher credit limit.
Mar 27, 2023To mark International Women's Day, here are five financial empowerment tips for women, as well as some credit card offers available in the UAE that can help them reach their financial goals.
Mar 9, 2023Are you tired of spending money without getting anything in return? With the right credit card, you can start earning cashback on all of your purchases. Cashback credit cards are all the rage in UAE and have become a budgeting essential for UAE customers. These credit cards not only offer you money back on every purchase, but they also provide additional benefits such as loyalty points, discounts, coupons, etc.
Feb 28, 2023The debt-to-burden ratio assesses the proportion of your monthly income that goes towards paying your expenses (including loans and credit card installments). Banks use this measure to determine your loan and credit card eligibility based on your current obligations and ability to repay them.
Feb 23, 2023There's no better place to celebrate Valentine's Day than in Dubai, where you can express your love in some of the most romantic and unique ways.
Feb 13, 2023UAE is a bustling country that never sleeps, and having a car can be a game-changer when it comes to getting around. With the high cost of living in UAE, not everyone can afford to purchase a car outright, and this is where car loans come in handy. Car loans are a popular option in UAE as they provide an easy and convenient way to finance your dream car. In this comprehensive guide, we'll take a closer look at car loans in the UAE, including the types, processes, and tips for choosing the right one for you.
May 24, 2023A personal loan in the UAE is a type of unsecured loan that can be obtained without any collateral or guarantor requirement. It is a popular financing option for individuals who need funds for various personal reasons such as weddings, higher education, international trips, starting a new business, and debt consolidation.
May 11, 2023Are you struggling to decide between renting and buying a property in the UAE? Do you find it challenging to determine which path is right for your financial future? Well, you're not alone! Many people face the same problem when it comes to making this decision. The UAE is an expensive country, and property prices can be sky-high. Moreover, the rental market is incredibly competitive, making it tough to find affordable housing. As a result, many people find themselves in a bind, unable to determine which path is best for them.
May 5, 2023Have you ever wondered why some people always seem to have enough money while others struggle to make ends meet? The answer lies in how they manage their expenses. Learning how to manage expenses is crucial, especially if you are living in the UAE, one of the most expensive countries in the world. In this blog post, we will discuss why it is important to learn how to manage expenses in the UAE and how you can do it.
Apr 28, 2023Credit cards have become an integral part of our daily lives, especially in the UAE, where cashless transactions are widely accepted. They offer various benefits, including reward points, cashback offers, discounts on shopping, and easy access to credit. However, applying for a credit card can be a daunting task, especially for first-time users. In this blog post, we will provide a complete guide to successfully applying for a credit card and receiving approval in the UAE.
Mar 30, 2023Having a good credit score is essential for obtaining financial services in the UAE. It is a three-digit value assigned to individuals based on their financial activities, such as debt repayment schedule, number of active loans, and on-time or delayed bill payments. A good credit score can help you get loans and credit cards at reasonable interest rates and with a higher credit limit.
Mar 27, 2023To mark International Women's Day, here are five financial empowerment tips for women, as well as some credit card offers available in the UAE that can help them reach their financial goals.
Mar 9, 2023Are you tired of spending money without getting anything in return? With the right credit card, you can start earning cashback on all of your purchases. Cashback credit cards are all the rage in UAE and have become a budgeting essential for UAE customers. These credit cards not only offer you money back on every purchase, but they also provide additional benefits such as loyalty points, discounts, coupons, etc.
Feb 28, 2023The debt-to-burden ratio assesses the proportion of your monthly income that goes towards paying your expenses (including loans and credit card installments). Banks use this measure to determine your loan and credit card eligibility based on your current obligations and ability to repay them.
Feb 23, 2023There's no better place to celebrate Valentine's Day than in Dubai, where you can express your love in some of the most romantic and unique ways.
Feb 13, 2023UAE is a bustling country that never sleeps, and having a car can be a game-changer when it comes to getting around. With the high cost of living in UAE, not everyone can afford to purchase a car outright, and this is where car loans come in handy. Car loans are a popular option in UAE as they provide an easy and convenient way to finance your dream car. In this comprehensive guide, we'll take a closer look at car loans in the UAE, including the types, processes, and tips for choosing the right one for you.
May 24, 2023A personal loan in the UAE is a type of unsecured loan that can be obtained without any collateral or guarantor requirement. It is a popular financing option for individuals who need funds for various personal reasons such as weddings, higher education, international trips, starting a new business, and debt consolidation.
May 11, 2023Are you struggling to decide between renting and buying a property in the UAE? Do you find it challenging to determine which path is right for your financial future? Well, you're not alone! Many people face the same problem when it comes to making this decision. The UAE is an expensive country, and property prices can be sky-high. Moreover, the rental market is incredibly competitive, making it tough to find affordable housing. As a result, many people find themselves in a bind, unable to determine which path is best for them.
May 5, 2023Have you ever wondered why some people always seem to have enough money while others struggle to make ends meet? The answer lies in how they manage their expenses. Learning how to manage expenses is crucial, especially if you are living in the UAE, one of the most expensive countries in the world. In this blog post, we will discuss why it is important to learn how to manage expenses in the UAE and how you can do it.
Apr 28, 2023Credit cards have become an integral part of our daily lives, especially in the UAE, where cashless transactions are widely accepted. They offer various benefits, including reward points, cashback offers, discounts on shopping, and easy access to credit. However, applying for a credit card can be a daunting task, especially for first-time users. In this blog post, we will provide a complete guide to successfully applying for a credit card and receiving approval in the UAE.
Mar 30, 2023