How to Choose the best cashback and rewards credit card

Choosing the best cashback and rewards credit card depends on your lifestyle, spending habits, and financial goals. Here’s a quick guide to help you pick the right one:

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1. Analyze Your Spending Habits

• Groceries, fuel, online shopping, travel, dining, bills – where do you spend the most?

• Choose a card that gives higher cashback or rewards on those categories.

2. Compare Cashback vs. Rewards

• Cashback cards: Offer direct statement credit (e.g., 5% cashback on groceries).

• Rewards cards: Offer points redeemable for travel, vouchers, or merchandise.

If you prefer simplicity, go for cashback. If you travel or shop often, rewards might be more valuable.

3. Check Annual Fees & Charges

• Some cards are lifetime free, others waive fees based on spending.

• Make sure the benefits outweigh the fee.

4. Sign-Up Bonuses

• Look for welcome bonuses, like extra cashback or reward points after hitting a spend milestone in the first 90 days.

5. Redemption Options

• Are cashback and points easy to redeem?

• Can you use them for statement credit, flight bookings, gift cards, etc.?

6. Other Perks

• Fuel surcharge waiver, lounge access, EMI conversion, insurance, etc.

• Choose perks that match your lifestyle.

7. Interest Rates & Fine Print

• Know the interest rate and hidden charges like late fees, foreign transaction fees, or redemption limits.

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