Today, credit card utilization has significantly increased in India, primarily due to the several perks and benefits they offer. Out of various credit cards accessible in the market, RBL Bank credit cards are making substantial strides with their exciting rewards system and cashback offers. In this discussion, we will break down the two prime benefits of RBL credit card reward points and cashback on credit cards to identify which offers the best value.
Reward Points vs. Cashback: What’s the Difference?
Reward points are a particular form of currency that RBL Bank offers to its customers. These can be redeemed for a variety of products, services, and discounts. RBL credit card reward points can be particularly beneficial for frequent shoppers, allowing them to maximize savings. On the other hand, cashback is a percentage of the amount spent on the card, which is credited back to the user’s account. Therefore, if you often shop or venture out, reward points can serve as a lucrative option. However, if you prefer simplicity and require some amount back immediately, cashback proves to be more effective.
RBL Credit Card Reward Points:
RBL credit cards come loaded with attractive reward point schemes. With each transaction, you earn reward points which accumulate over time and can be redeemed for an extensive range of products/services like flights, hotels, lifestyle products, and more. Some RBL credit cards also offer accelerated reward points on specific spending categories like dining, groceries, and international transactions. The utility of these reward points is primarily determined by one’s lifestyle and spending habits.
Cashback on RBL Credit Cards:
If you value immediate returns, RBL’s cashback credit cards offer a percentage of cashback on all eligible transactions, directly crediting it to your account. This reduction in your next bill can provide immediate gratification, especially if you are a heavy spender. Also, there are no expiry constraints, unlike reward points, and no tension of tracking points’ validity. Depending on your expenditure-type, some cards also provide higher cashback rates.
Best Value: Reward Points or Cashback?
While both reward points and cashbacks encourage card utilization, choosing one ultimately comes down to individual preference. However, it is essential to understand the real value behind each benefit to maximize return on spend.
If you are a high spender and do not mind going through reward catalogs for redemptions, earning reward points might bring better value. On the other hand, if you prefer a straightforward and instant benefit, then cashback is the way to go.
RBL Co-branded Credit Cards with Bajaj Finserv:
Recognizing the benefits of both worlds, the co-branded credit cards offered by Bajaj Finserv RBL Bank and Bajaj Finserv DBS Bank are an excellent choice. These offer not only reward points and cashback but also host a myriad of other features.
Bajaj Finserv RBL Bank credit card provides a best-in-class rewards program with accelerated rewards on specific categories. Reward points can be redeemed for a vast collection of products and e-vouchers. The card also offers credit card cashback on all your utility bill payments, making it a comprehensive package.
Additional Info: The Download Bajaj Finserv App offers seamless access to a wide range of financial services. To ensure a smooth experience, it’s important to review the terms and conditions and check device compatibility before using the app.
Applying for Bajaj Finserv RBL Co-branded Credit Card:
The application process for the Bajaj Finserv RBL Bank Credit Card is simple and hassle-free. You can apply online through the Bajaj Finserv website or offline by visiting the nearest Bajaj Finserv or RBL Bank branch.
Final Thoughts:
Both RBL credit card reward points and cashback offer their unique advantages. However, co-branded cards like Bajaj Finserv RBL Bank Credit Card provide the best of both worlds, making them an attractive option for many.
So, whether you prefer reward points or cashback, make sure to choose a card that aligns with your spending habits for optimal advantages. Lastly, always remember that rewards and cashback can serve as great perks, but optimizing your credit usage responsibly should be your primary goal.
