How much do you spend per month on a credit card? What if some of that value came back to you? This is already true, who have signed up for cashback credit cards – but the product requires a lot of care. Cashback credit cards allow you to get back a percentage of your spending on that card. Accumulate cash or credit each time you use the card when traveling, fueling, purchasing various products or services, restaurants, hotels, among many others. If you spend a lot of money on a certain type of expense, you will save a lot of money using a credit card with cashback on this type of spending.
HOW DO CASHBACK PROGRAMS WORK?
A credit card with a cashback program acts as an incentive to the customer for frequent use of the credit card and, at the same time, to ensure that debts are paid on time. Through these types of programs, you can earn back a percentage of your credit card expenses, which you can take advantage of in the form of cash or other privileges offered by each credit card issuer.
This type of credit card may also have advantages such as the accumulation of air miles or points, as well as the possibility of having discounts with partners. It is important to realize that the more you spend, the more money you will receive in cashback. In order to maximize the amount returned in the following month, it is preferable to use this type of credit card for high value purchases. Always be aware of the limits imposed by the cards. For this reason, you should always pay attention to the services you hire and what conditions are necessary to obtain the maximum benefits.
4 CASH BACK CREDIT CARDS
Nubank is one of the credit cards most loved by young people. The fintech valued at US $ 10 billion offers a free digital account – NuConta, which yields more than savings and a credit card with no annual fee under the MasterCard banner with several benefits.
HOW IT WORKS?
The Nubank card is free, but fintech has the option of paying to have Rewards, a loyalty program that generates points that are worth money, literally – you use the points to “delete” accounts from your invoice. Each real spent is equivalent to one point.
These points can be used to clear expenses from partner services, such as Netflix, iFood, Evino, Amazon or streaming music services, from the invoice.
Banco Original, which is a traditional institution, offers your credit card without an Original International fee, under the Mastercard banner. It offers Original Cashback, which is the possibility to earn cash back on both debit and credit. The bank offers four credit card options, but only Original International does not charge an annual fee. All others – Original Gold, Original Platinum and Original Black charge an annual fee.
The Original International credit card offers a return of 0.15%, with expenses up to R $ 999.99, and 0.3%, with expenses starting from R $ 2,000.
The Pan Meliuz credit card comes from a partnership between Banco Pan and the startup Méliuz, which offers free discount coupons at online stores and returns part of the cash purchases directly to the bank account through cashback.
HOW IT WORKS?
Through the Pan Meliuz card, you get a return of 0.8% on all purchases. In addition, at the same time, cashback accumulated on purchases at more than 1,600 establishments registered in Méliuz. In this case, the return percentage varies depending on the store. However, the amount can only be withdrawn from the bank account after accumulating at least R $ 20.
The extra bonus appears on your Méliuz statement within 15 days of tracking the purchase and is confirmed after the cashback is released by the partner store. The benefit can be revoked upon prior notice, 90 days in advance. After payment of the invoice, the amounts are confirmed on the statement.
HOW IT WORKS?
Visa Gold International credit card with NFC technology for payment by approach. Relationship with the company is digital via application. It is possible to have a band (bracelet) that works as a card.
Mastercard Platinum International credit card. You recover 3.5% of the value of payments made at Ipiranga service stations (including am / pm stores) and 1% of total purchases made outside the chain (except in the service station and convenience stores of other brands). There is also a 5% discount when filling the tank with payments made through the Abastece Ai app. The discount is cumulative to the 3.5% cashback in the Ipiranga chain.
ARE CASH BACK CREDIT CARDS ARE WORTH
In reality, it depends on your needs. If you do not spend large amounts on your credit card and do not have any advantageous points program in accumulating miles, it may be interesting to earn money in the form of cashback.
However, if your income is higher and you prefer to earn miles, opt for cards that offer more benefits. For example, a Mastercard Black. In this case, in combination with a subscription to the Smiles Program, it may be more worthwhile.
RECOMMENDATION FROM THE SPECIALIST
Generally, a cashback credit card is worthwhile for those who are used to paying a high bill. As each company has a rule for returning part of the money, you must be aware of the conditions and your monthly expenses, so you will be able to do the math and see if the product is interesting for you”, says financial advisor”.
Another recommendation from the specialist is that you never increase your credit card consumption just to get more money back. Spending should be very well thought out as the product can give the false idea that you have more money than you actually have. You may even have credit available now to buy whatever you want, but in a few days you will need to have the money to pay that bill.
The credit card is one of the products that most get financially involved. The interest on the revolving card – when you pay only part of the invoice and the rest goes into the account for the following month – is very high, usually three digits. Even on cool fintechs like Nubank you can pay a fee of more than 300% per year, depending on the case.