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Cashback: what it is and how it works. Read our article and get answers to the main questions.
In times of crisis, people had to look for ways to save money and even earn extra money.
A practice that has attracted attention in recent months and has gained more followers in the financial sector is cashback.
Therefore, financial institutions that do not offer this advantage to their customers end up falling behind.
Customers, in turn, who are not earning cashback are certainly missing out on the opportunity to earn money.
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Follow this post and learn more about cashback, what it is and how it works, plus, see how to start earning cash back.
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What is cashback and how does it work?
Cashback, translated, is the same as “money back”. It is a cash rewards program administered by credit card companies.
In this program, the customer earns a percentage of the value of purchases back in cash.
The percentage that the customer earns in cashback depends on each financial institution, some of them pay up to 50% of the purchase value.
In other words, the customer can earn up to half the amount spent on a purchase back.
Although it is more difficult, it is possible to find actions that allow the customer to earn up to 100% in cash back.
Many credit cards have a fixed cashback program, others take advantage of special periods.
For example, during the Paralympics, Bitz, Bradesco's digital wallet, was paying cashback for purchases paid with your card one day after Brazil won a medal.
The interesting thing about this campaign is that purchases had to be worth more than R$$30.00, that is, a considerable amount.
Furthermore, the percentage was great and Brazil won a lot of medals in the Paralympics, so it was possible to earn some extra money.
One advantage of cashback is that you get money back even if you bought things at promotional prices.
In this case, the customer saves money and also earns money.
Do you still have any doubts about how advantageous this program is?
Cashback: what is it and how does it work? Purpose
Large companies have joined this program with the aim of building loyalty among their users and becoming the primary credit card for consumers.
In addition, the idea is also to encourage customers to make purchases, and as a result, move their accounts and use more of the institution's services.
The idea was certainly very successful, as both parties benefit, especially credit card users.
How to earn cashback?
By the way, there are two main ways to earn cashback. Firstly, using credit, debit, virtual or prepaid cards from banks that pay cashback.
Among the best credit cards to earn cashback, we find:
Simply open an account with some of these banks, or all of them, as long as they don't charge an annual fee, and start enjoying the benefits of cashback.
The second option to earn money back is to register on cashback platforms.
Currently, we find 4 main ones on the market, namely: Méliuz, Mooba, Ame and Beblue.
However, all of these benefits program platforms already have their own credit card.
Therefore, it is easier to apply for the card and start earning money back on purchases made with it.
Oh! It's worth mentioning again that you can earn money back by paying with a debit, virtual, prepaid and credit card.
Therefore, even if you have a negative credit rating, you can request a debit or prepaid card, transfer money to your account and start paying for your purchases with it.
As a result, you will see a lot of money coming back to your account. The more you use, the more you will earn, for sure.
The advantage of paying with these card options is that you don't have to go into debt, so the benefit is much greater compared to a credit card.
So now that you know more about cashback: what it is and how it works, evaluate which is the best option for you, open an account and request your card.
Once you do this, you'll soon be earning cash back and purchasing items with exclusive promotions.
In addition to receiving money, you also receive cashback in credits. The time it takes for the cashback amount to be available depends on each institution.
In some cases, they fall instantly, in others, it can take up to 20 days.
However, in some institutions it is only possible to redeem the amount after a certain amount has been accumulated.
Cashback: what it is and how it works / Summary
Finally, it became very clear how advantageous this practice is, not only for users, but for institutions as well.
Therefore, select the best options for you, for example, a card that has no annual fee and pays a higher percentage of cashback and discounts from partners.
You will certainly find many interesting options, some of which were even mentioned in the text.
So, start now earn money back on all your purchases!
Read also: “Your Cashback Guide to Always Win”
