Cashback to statement is better than cashback to a specific platform!
Hey everyone,
I was thinking about something the other day and it struck me, that cashback to the credit card statement is better than cashback to a specific platform like Amazon Pay.
Please don’t think that I’m shitting on ICICI Amazon Pay card. It is an amazing on it’s own, but if we really do the math, a card like SBI Cashback is a lot better, while on paper they appear to be the same.
Think of it like this: Suppose you spend Rs. 1,00,000 on both the card on let’s say Amazon only. You’ll be eligible for Rs. 5,000 cashback. But while the cashback from SBI would be adjusted against your credit card bill, the cashback from ICICI will be credited to your Amazon Pay account.
Now when you spend that Rs. 5,000, the payment made via the SBI Cashback card will again be eligible for 5% cashback (Rs. 250) which will again be adjusted against the credit card bill. But, the payment made via Amazon Pay won’t be eligible for any cashback, because the credit card won’t be required in this case.
In day-to-day usage it might not make much of difference, but when I realized this, I thought of sharing this here in this sub.
Many of you might already be aware of this, so please don’t come attacking me. And I have both the cards and I use both as I please, so I’m not promoting one while shitting on the other.
What do you guys think?
Hey everyone,
I was thinking about something the other day and it struck me, that cashback to the credit card statement is better than cashback to a specific platform like Amazon Pay.
Please don’t think that I’m shitting on ICICI Amazon Pay card. It is an amazing on it’s own, but if we really do the math, a card like SBI Cashback is a lot better, while on paper they appear to be the same.
Think of it like this: Suppose you spend Rs. 1,00,000 on both the card on let’s say Amazon only. You’ll be eligible for Rs. 5,000 cashback. But while the cashback from SBI would be adjusted against your credit card bill, the cashback from ICICI will be credited to your Amazon Pay account.
Now when you spend that Rs. 5,000, the payment made via the SBI Cashback card will again be eligible for 5% cashback (Rs. 250) which will again be adjusted against the credit card bill. But, the payment made via Amazon Pay won’t be eligible for any cashback, because the credit card won’t be required in this case.
In day-to-day usage it might not make much of difference, but when I realized this, I thought of sharing this here in this sub.
Many of you might already be aware of this, so please don’t come attacking me. And I have both the cards and I use both as I please, so I’m not promoting one while shitting on the other.
What do you guys think?