Cashback and reward programs offered by banks, credit cards, and retail stores can be powerful tools to enhance your savings. When used wisely, these programs provide you with benefits that add up over time without extra spending.
Vizzve Finance guides you on how to leverage these programs effectively to boost your savings.
Understanding Cashback and Reward Programs
Cashback: A percentage of your purchase amount returned to you as cash or statement credit.
Reward Points: Points earned on spending that can be redeemed for products, discounts, or travel.
Tips to Maximize Cashback and Rewards
1. Choose the Right Cards and Programs
Select credit/debit cards that offer the best cashback or rewards on your frequent purchases.
2. Use Cards for Everyday Expenses
Pay bills, groceries, fuel, and utilities with your cashback card to earn consistently.
3. Pay Full and On Time
Avoid interest charges by clearing dues fully every month.
4. Combine Offers
Stack cashback offers with bank discounts or coupon codes for bigger savings.
5. Redeem Points Wisely
Convert points into vouchers or cashbacks that add the most value.
6. Track Expiry Dates
Use rewards before they expire to avoid losing benefits.
Common Mistakes to Avoid
Overspending just to earn rewards.
Ignoring annual fees or charges on reward cards.
Not reading terms and conditions.
How Vizzve Finance Helps You Save Smartly
Vizzve Finance offers financial tools to manage spending and repayment, ensuring your cashback and rewards translate into real savings without debt.
FAQs
Q1. Are cashback rewards taxable?
Typically, cashback on personal spending is not taxable.
Q2. Can I use multiple cashback cards?
Yes, but managing them carefully is essential to avoid missed payments.
Q3. How long do reward points last?
Expiry varies, usually between 6 months to 3 years.
Q4. Does Vizzve Finance provide cashback offers?
We offer partnership benefits and support smart financial choices.
Published on : 10th August
Published by : SMITA
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