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Cashback vs. rewards credit cards: Which one suits you best?

The article from Moneycontrol discusses the differences between cashback and rewards credit cards to help consumers decide which type best suits their spending habits and financial goals. Cashback credit cards offer a percentage of money back on purchases, providing a straightforward benefit where the cash can be used for statement credits, direct deposits, or other rewards. These are particularly beneficial for those who prefer simplicity and direct financial returns. On the other hand, rewards credit cards offer points, miles, or other perks which can be redeemed for travel, merchandise, or exclusive experiences, appealing to those who value luxury or specific rewards over cash. The choice depends on individual lifestyle; cashback cards are ideal for everyday spenders looking for tangible savings, while rewards cards cater to those who might benefit from travel or want to leverage points for high-value redemptions. The article advises considering one's spending patterns, the value of rewards versus cashback, and the terms and conditions of each card before making a decision.

Read the Full moneycontrol.com Article at:
[ https://www.moneycontrol.com/news/business/personal-finance/cashback-vs-rewards-credit-cards-which-one-suits-you-best-12889991.html ]