Business

Cash Back: What Is It and How Does It Work?

Cash back credit cards have grown in popularity throughout the middle east. Now, credit cardholders can earn money back on their purchases, but how do they work?

This short guide will discuss everything you need to know about cashback. What is it? Where can you get cashback credit cards from? how do whales sleep?

What Is a Cash Back?

Cash back is an incentive program that rewards the credit card holder with money back from qualifying purchases. The cardholder received a percentage of the money back that they have just paid for the product. Cash back cards continue to grow in popularity throughout the UAE and have become highly sought-after. Your cash back rewards can be received in different ways. For example, you can apply the sum of money towards your credit card bill. Or, you can receive it as a bank account deposit or check.

Research has shown that credit cards are highly popular throughout the UAE. It has been said that UAE residents are the biggest credit card customers in the Middle East. So, if you own a credit card and it doesn’t give you cash back, you could be missing out on many cash rewards.

Where Can You Get a Cash Back Credit Card?

There are a wide range of cash back credit cards available. So, how do you know you are choosing the right one? The best place to start is by looking at the cash back percentage each one offers. However, don’t be pulled in by the highest rate you see. This is because other credit card providers may offer a lower percentage but also a long list of other benefits that come with it. Take a look at this cash back card from Simplylife as an example. Not only do they offer cash back on spending as low as AED 1000, but they also offer a whole host of other benefits such as free cinema tickets.

It is always best to shop around before you make your decision. Use the internet to your advantage as there is a range of reviews out there surrounding the different cards available. You can gain some valuable advice that will help you choose the best credit card provider for you.

How Does It Work?

Whenever you use your credit card to make a purchase, you will be rewarded with a percentage back. As briefly discussed, this percentage will vary between providers. The rate can also differ depending on what product you purchase. For example, specific categories are deemed the most rewarding for cash back, and some of these include supermarkets, transport and utility bills, to name a few.

You should be aware that every cash back card offered in the UAE will come with a list of terms and conditions attached. If you want to make the most out of your rewards and gain as much cash back as possible, you should pay close attention to them. Try using price comparison sites to help you find the best cash back card for you.

Related Articles

Back to top button