Cashback credit cards have been in place to help you maximise your savings. These are cards wherein the section of your spending you make using the credit card will be refunded back to you.
So, cashback credit cards and rewards credit cards are reasonably different. Using a rewards credit card, you accumulate reward points for all spending made. The reward points can later be redeemed for vouchers, discounts, or cash.
Nevertheless, in the case of Money back credit card, it is generally for some specific transactions that the cashback offers are available. In many cases, cashback credit cards also feature a minimum spending requirement to earn a cashback.
Applying For A Cashback Credit Card
If you intend to apply for a cashback credit card, then Bajaj MARKETS is the preferred avenue for your requirements. Let us take a look at the steps to be followed to go about with the same.
- Visit the Bajaj MARKETS website
- Go to the website’s credit card section
- Here, you’d come across a range of cashback credit cards that are available over the website. You can go with the one that is ideally suited to your requirements.
- Next, click the ‘Apply now’ button and fill out the application form.
- After attaching the relevant documents, fill up the application form.
- That’s about it! You have now applied for a cashback credit card successfully.
Documents Required And Eligibility Criteria For Cashback Credit Card
When applying for a Money back credit card at Bajaj MARKETS, the documents required and the eligibility, as mentioned below, are minimal and reasonably relaxed.
Eligibility Criteria
The applicant should be an Indian citizen aged between 25-65.
Documentation
- A copy of your proof of identity – Driving License, Passport, PAN, or Aadhar card
- A copy of your proof of address – Voter ID, Passport, Aadhar, Ration card
- A copy of your proof of income – Salary Slip or Latest IT returns
It may be possible that there is a slight difference in the criteria as mentioned here, based on the card that you apply for.
Benefits And Features That A Cashback Credit Card Brings Alongside:
Cashback credit cards’ benefits and features are one of the key reasons they are popular. A few of the top among them have been mentioned below.
- Cash Rewards
The operating concept of cashback credit card is to earn cashback when you pay credit card bills. This implies that a credit card holder will receive a section of their expenditure as a cash reward for all eligible spending. So, to a reasonable extent, the burden of holding a credit card is reduced.
- Annual Fees are Null or Low
A range of cashback credit cards are available that do not charge an annual fee or their annual fee is low. In a few cases, annual fees charged over the credit card are waived off when one reaches a particular spending milestone.
- Welcome Bonuses
The most frequent cashback credit card offers nowadays are welcome and sign-up bonuses. As per the terms of these cards, cashback may be provided as soon as the card is issued. Alternately, within a certain number of days following activation, if a milestone of expenditure is achieved, then cashback is given.
- Shopping Perks
In many cases, cashback credit cards are in a partnership with retail merchants or eCommerce websites. This gives rise to several attractive shopping perks. For instance, cashback or discounts may be more on a few of the transactions.
The Procedure For Choosing The Best Cashback Credit Card
When you want your cashback credit card to merge with your requirements seamlessly, it helps to be meticulous in the selection. The following tips help make an enlightened choice:
- Initially, one should be sure that it is a cashback credit card that one wants to go for.
- There are different types of cashback credit cards, but one has to select the one that suits one’s requirements. The cashback credit cards are variable bonus cashback cards, fixed-bonus cashback cards, and flat-rate cashback cards.
- Now, among the options available at one’s disposal, one should go for the one where maximum benefits are available but at the lowest cost. For instance, if one gets a credit card free, one should go for it. Attractive options are available at Bajaj MARKETS.
Most people choose to go for cashback credit cards because these are the type of cards that work the best for them. If they don’t dine out much, rewards credit cards will have a limited utility for them. Then, the joining fees of cashback credit cards are also reasonably subsidised compared to other credit cards. You may even get a credit card free. Similarly, even as these cards might have no introductory APRs, the value of their rewards stays constant.
Conclusion
Credit cards have become part and parcel of people’s everyday lives. People’s expenses increase by the day. But, alongside, their spending capacity is also growing.
If you have already applied for a credit card, you will likely be looking for the application status. A credit card application can, nowadays, be easily tracked and checked. In many cases, this can be accomplished by logging on to the issuing bank’s website.
But, alternate methods of checking credit card application status are also available. These are primarily offline methods, and the top among them include contacting the bank over their customer care number or visiting one of the bank’s branches.
