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How cashback is calculated on a credit card

How cashback is calculated on a credit card

CrimeaPRESS reports:

Cashback is a reward that the owner of a credit card receives monthly for actively using the credit limit. The more non-cash purchases and payments, the greater the bonus that is returned to your account at the end of the month.

Credit card with cashback allows you to earn additional income. It’s convenient to track profitable promotions in the bank’s app. The amount of the reward depends on the category of purchases, the type of credit card and the place of purchase (if the seller participates in the bank’s affiliate program, the percentage is higher).

Each month the borrower chooses one of the following options:

  • four expense items for which 5% of the amount spent will be charged;

  • three types of spending with 5% + 1% cashback on all purchases.

It is important to think in advance about which categories will have the most expenses: cafes and restaurants, electronics, clothing and shoes, education and others. You will not be able to change the selected categories in the current month.

Additionally, you can get up to 100% in a random category (including on your favorite brands and marketplaces) — just spin the super cashback drum.

Cashback is not returned on purchases paid using a QR code through the Fast Payment System (FPS). The reward is accrued until the 10th of the next month: for credit card expenses in April, the partial refund will be calculated until May 10.

It is convenient to control the cashback amount in online banking or a mobile application. The accrued reward can be transferred to your account and spent on something necessary or pleasant.

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How can a credit card owner earn cashback?

The following recommendations should be followed:

  • every month choose your favorite categories from the list offered by the bank;

  • track promotions and special offers from the bank and partners.

It is important to carefully study the terms of the contract and understand the mechanics of calculating remuneration. The thoughtless pursuit of cashback is fraught with unplanned expenses for credit card owners. It is necessary to control expenses and spend only the amount that can be deposited into the account without compromising the budget.

How to get a credit card with profitable cashback

  1. Apply online or at a bank branch.

  2. Wait for approval — the decision is known within two minutes.

  3. Sign the contract.

  4. Receive and activate the card.

Credit cards are intended for citizens of the Russian Federation over 21 years of age. The borrower must have a regular income of 10,000 rubles after taxes, as well as a continuous work experience of at least three months.

A passport is required for registration. Borrowers who receive salaries and other income into an account in another financial organization can additionally provide a certificate of income and tax amounts of an individual or a certificate in the form of a bank. In this case, you can count on a higher limit.

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