With the arrival of the festive season, do not be surprised if you are flocked by credit card companies trying to attract you with all the latest offers and schemes to draw you into their hold. While you may be left baffled, confused and starry-eyed for a while, shuffle your plastic cards smartly to make the most of these offers and schemes. As the end of the year is approaching, we find ourselves surrounded with the greatest deals, sales and discounts this world was yet to offer, increasing our spending list twice or thrice as much in size. As we find it difficult to strike a balance of sorts in our ever increasing shopping list, some correlation can be achieved by bringing a balance in costs. With redemption points and cash backs towering over the festive bonanza as additional and lucrative benefits, by shuffling smartly between your debit card and credit card, you can save quite a large sum of money.
Cash backs are a promotional tool employed by banks and credit card companies to attract customers. Under this scheme, customers are offered a certain percentage of money back on the total amount of money spent by them during a particular period of time. However, they have a huge list of terms and conditions that are applicable with this scheme, and in order to avail the maximum benefits from this scheme, it is best to keep yourself abreast and well-informed about all these policies and regulations. These offers are usually applicable if you shop only at specific stores, outlets or malls, that too for a stipulated amount of money. Also, you might lose on all your benefits of cash back if your card is simply swiped in the machine of another bank. Read their terms and conditions thoroughly and analyze them before making any decision, so as to avail the maximum benefit from these schemes.
While banks may dvertise about their latest cash back scheme on offer, you must verify with your bank if such a scheme is applicable on the existing card you hold. If yes, then enquire about the terms and conditions applicable under such a scheme. Also, acquire information on the maximum amount of cash back you are entitled to receive under the ongoing offer. This means that no matter how high your spending is, you will still be entitled to the same amount of money as per the bank’s policy. Keep a track on the validity period of these offers, so as to avail the maximum benefits under the stipulated period of time. Always make sure to clarify any doubts on this regard to your bank as sometimes these offers are applicable only to a selected class of card holders. Also, sometimes, cash back can be provided as an optional facility, and in order to avail it, you may be required to fill up an application form in order to sign up for the offer.
While spending may not necessarily be a crime this spending season, shuffle between your debit and credit cards wisely to save money and avail the maximum benefits. Sometimes, banks may offer higher cash bank percentage if you withdraw money from your credit card. However, you must never fall prey to this trick as withdrawing money from your credit card implies higher rates of interest and transaction charges. Therefore in order to avoid from falling into the debt trap of availing personal loans or any other loans to repay the debt on your credit card, make sure you utilize the plastic cash wisely. Thus, while you may not see the hidden expenditure on the face of it, you will actually be burdened with a higher interest amount than what was expected by you. Thus, make use of the cash back tool in a smart manner to enjoy and cut back on cost this festive season.