Should You Get A Cashback Credit Card?
If you’re looking for credit cards, the sheer amount available to you might be a bit overwhelming. From cards that give you airline miles to gas discounts to points that you can claim for any number of rewards, the choices are endless. And if you’re trying to choose one of the dozens of credit cards available out there, you may find yourself unable to make a decision.
To help you narrow the choices down, answer this question: do the words “free money” sound good to you? If so, then the cashback credit card is worth a look. Simply put, cashback credit cards give you a certain percentage of your purchases back, typically ranging from 1% to 5%. So if you spent P1,000 on your card, you could earn P10 – P50 back, essentially giving you an instant discount.
But maybe you’re not sure if cashback credit cards are the right card for you. To help you determine if a cashback credit card is for you, answer the four questions below.
1. Do you prefer instant bonuses?
For the practical credit card user, cashback credit cards offer instant rebates on purchased goods. If you want to save money easily rather than earning rewards, then cashback credit cards are for you.
Every time you shop, the Security Bank Complete Cashback Card gives you guaranteed cashback on all your purchases, up to a maximum of P1,000 monthly, which is automatically credited to your account from month to month. No need to worry or make any calls to claim your cashback. Now that’s saving while you spend.
2. What types of things do you buy with your credit card?
Do you use your card mostly for everyday purchases? If so, then a cashback credit card is the way to go. People who use a credit card for everyday purchases, like groceries, gas, or dining out, will benefit more from cashback credit cards than from any other type of credit card.”
So if you use your card for a little bit of everything, you’ll get the maximum rewards if you use cashback credit cards instead of other types of reward cards. On the whole, you can earn the highest rewards percentages for specific categories when you get a cashback credit card.
You can even go a step further by choosing a cashback credit card that gives you higher cashback on the things you spend on the most. When designing the Complete Cashback Card, Security Bank did some research on the spending habits of their customers and tailor-fit the categories accordingly, giving the following rewards:
5% for groceries
4% for gas
3% for utilities
2% for dining
1% for shopping
With the Security Bank Complete Cashback Card, you can use your card to buy whatever you need, and rest assured knowing you’ll be rewarded no matter what.
3. How much do you put on your credit card?
Worried that you’ll have to spend a minimum amount just to earn rewards? That may be true for some credit cards, but not for the Security Bank Complete Cashback Card. No matter how much you spend monthly, be it P10,000 or P100,000, you’ll earn cashback for all your purchases. This makes it perfect for the regular consumer who needs to use a credit card for everyday purchases but still wants to earn cash back without worrying about a required minimum spend.
For no-frills credit card users who won’t be charging extremely high amounts to their credit cards, the Security Bank Complete Cashback Card offers guaranteed rewards for whatever amount you spend, up to a maximum of P1,000 monthly. So you can use your cashback credit card like you normally would, without having to purchase needless items and spend extra money just to meet a minimum to get cash back.
4. Do you pay off your whole balance every month?
If your answer is a resounding “Yes!”, then a cashback credit card will let you save money every time you spend. Responsible credit card owners who pay their balances in full every month can maximize the rewards they earn from their cashback, because not having to pay interest on your balances means you get to keep all the cashback you earn. And with a card that lets you earn up to P1,000 a month in cashback rewards, that’s P12,000 a year you can earn and put towards your spending!
When you pay off your credit card balance in full, you’ll get the most bang for your buck when you get a cashback credit card as compared to other rewards cards. And the Security Bank Complete Cashback Credit Card, with its stellar features and unbeatable cashback rates for the categories you spend on the most, will give you the best rewards out of any cashback card in the Philippine market today.