BANKING AFFAIRS

Detailed explanation-1: -It’s normally a feature of credit cards, but some current accounts also offer cashback. Cashback is often offered on specific purchases, such as fuel or for bills. But many providers now offer cashback on anything you buy.

Detailed explanation-2: -Credit card cash back rewards are bonuses provided to credit card customers when they use their cards to make purchases. Cash back rewards can take the form of dollars or points-with points typically redeemable on an online marketplace operated by the card issuer. Cash back rewards operate on a percentage basis.

Detailed explanation-3: -Credit cards are more convenient and secure compared to carrying cash. As long as you can pay your bill in full then a credit card is a logical and desirable alternative to cash for in-person purchases and a necessary tool for online transactions. When you want additional warranty or purchase protection.

Detailed explanation-4: -It may be noted that if you are using a credit card then you are spending the credit card’s money until you pay credit card bills at the end of the month. When you lose the debit card, you lose cash immediately from your bank account.