Cashback shopping in simple words you get a percentage of the amount spent is paid back by the company.
What is cashback?
You can withdraw cash after making a purchase.
The benefit offered by credit card companies that pay the cardholder a small percentage in cash for each purchase. Cashback may also refer to the act of requesting cash from a merchant transaction which provides buyers a physical cash in hand at the time of purchase.
A facility offered by some retailers, customers may withdraw cash when making a debit card purchase. Cashback applicable on credit as well as debit cards, more popular on credit cards.
Cashback and Discount is not same
Discount is given instantaneously before the bill or invoice is generated. Cashback gets reflected in the monthly statement of a card to the cardholder as credit.
When cashback credited to buyers
Usually at the end of each billing cycle.
Suppose you have to buy a phone that is $500. If there is 15% discount on the phone. You would pay 85% of its price, which is $425 and the discount would be $75.
In a case of cashback, you pay the full amount when you buy the phone. The bank will credit $75 for this purchase to your credit card’s statement, which is due after the purchase.
You might like to read: About Freebies
These are programs rewards their customers for shopping using their website. Usually, you will find all offers and links to the product page and reward will be added after you complete the purchase.
A cashback website runs by a team that works as a middleman. A type of reward website that pays its members percentage of earning.
eBates – Best for international customer where you see all major international brands.
Reward for free drinks – From best companies for cashback and sometimes free offers based on food & drinks.
Indian cashback websites – Indian cashback websites are listed here. Go for some of the best cashback sites in India.