03 Jun

What Does 100% Cashback Mean? (Explained!)

What does 100% Cashback mean?

Many of us wonder what does 100% Cashback mean. It is when you buy something; the business returns you a specific amount. When cashback strategies are introduced, the customer receives money upon purchase.

It is mostly a promotional technique to boost sales and an entity’s presence in the market. The cashback feature is mostly available on cashback credit cards to pay bills and fuel expenses. However, that trend is now changing. Businesses are offering cashback on any article the customer pay to purchase. They also gain rewards points through online shopping.

When a customer uses a credit card, he or she receives a percentage of the amount back as cashback. For example, if a customer spends Rs. 100 at a 2% cashback offer, the customer would receive back Rs. 2.

The cashback is generally paid back on an annual basis. However, some businesses may opt for monthly cashback payments.

What does 100% Cashback mean different to different brands according to the sales aim?

The cashback reward system is transferred to the back, which reduces the customer’s credit card bill. Sometimes the bank converts it into points or a reward system for future offers.

Cashback Misconceptions

Sometimes credit card providers will present a false image of cashback opportunities when you use their credit cards. However, the reality is a small amount return on a huge amount spent. Do your own research and calculations before giving in to misrepresented scenarios.

Credit card companies may sometimes use the spending on lunch or fuel services to increase spending. Monitor your spending to cashback pattern. Overall, if you do wish to use your credit card to increase debt, the cashback offers are not for you.

Some companies may limit the cashback offer to a few products and services. Sometimes this is further restricted to a specific vendor. The companies can also limit the cash you receive after using a cashback promotion. This happens more than you think.

Mostly speaking, the cashback services are for a limited time. Businesses usually aim to achieve some sort of business loyalty from this technique. Get a cashback bonus and rewards points using a debit card on the purchase price from the rewards program.

What does 100% Cashback mean is not true to its colour with the following explanation. After the customer has availed of the initial period of use, the cashback reward and rate diminish simultaneously as the cashback credit card fees increase.

What is Airtel 100% cashback?

The following are the criteria for What does 100% Cashback mean to Airtel: (best cashback offer to earn cashback bonus and extra money)

• The 100% cashback offer is valid on Airtel television and DTH services on payment only.
• The customer will receive up to Rs. 100 on successful transactions against each payment.
• The offer is valid once per every user and subscriber during the ongoing campaign.
• The amount eligible for this offer is set at Rs 300 as the minimum ceiling.
• The offer cannot supplement or club with other offers or payment schedules.
• The promo code can be requested in the Apply Promo code section before processing the final payment. An overlooked missed opportunity will not refund the original amount.
• The 100% Airtel offer is for a limited time.
• A reward will be communicated to the client 24 hours after the transaction has been completed. Before the transmittance of any reward, the criteria shall be double-checked.
• An alternative to receiving cashback is receiving GoldBack. Conditions apply if you have completed the KYC requirement or breached your wallet limit. The GoldBack is three percent of inclusive tax.
• The payment reserves its right to alter terms and conditions or withdraw the offer without properly communicating it to the client.
• Cashback and GoldBack services may be revoked if the establishment of any unlawful, suspicious, or fraudulent transactions. This will also eliminate the eligibility of the customer for future purchases.

What Does 100% Cashback Mean

What is 100 cashback in Paytm?

Following are the criteria for what does 100% Cashback mean to Paytm

• Paytm will provide 100% cashback within a period of two days at the minimum transaction price of Rs. 20. The maximum ceiling for this offer is R.s 500. (see below for credit or debit card)
• The cashback feature applies to the first transaction midst of the ongoing campaign. The campaign is operative in retail stores and auto and taxi rides.
• Paytm also reserves the right to modify and alter policy terms without providing any prior notice to the customer and clients.
• The cashback offer is valid everywhere where Paytm OR code is operative. Mobile numbers also accept Paytm cashback offers.
• Paytm will revoke the offer in case any fraudulent or suspicious transactions are discovered.

Amazon 100% cashback

What does 100% Cashback mean to Amazon? The following criterion answers this question.

• Amazon is offering Pay via Amazon Pay UPI with 100% cashback. However, this offer is only available to a group of selected customers. (see below for credit cards)
• The payment of utility services of electricity, gas, and water bills is available on Amazon.
• This offer does not apply to DTH and mobile prepaid services.
• To set up this offer, tap “Your Bank Account” on the Amazon dashboard. Connect the bank of choice with the Amazon Pay UPI option. Amazon will fetch bank account details instantly and link the payment system. The UPI pin will sync the bank account with the Amazon payment schedule.
• Any other payment method is not acceptable under this option. It will only work if you select UPI under Amazon Pay UPI. Amazon Pay Balance and using debit and cashback credit cards will avail the cashback option.
• The customer will receive cashback within less than three business days of completing the process. Once the payment has been made, the customer will receive a text confirming the cashback payment.
• Amazon Pay Balance will transfer the maximum payback amount of Rs.50 to your account.
• If you are wondering about the eligibility criteria, the offer will be applied to you automatically.

What is meant by flat cashback?

Flat cashback means as is. If a company is promoting its merchandise at a 20% cashback rate, then at the time of purchase, you will receive 20% cash absolutely. The amount will not be less or more than the calculated amount.

However, the terms and conditions of the entity will apply to this offer. Cashback can mean up to, it can be an amount, or it can be flat. It depends on what the business is trying to achieve.

What does 100% Cashback means is different from flat cashback? Flat cashback is a constant set scale of rewards being sent to the customer through bank channels.

Conclusion

Companies are very sly to market cashback techniques as the customer receives the better end of the transaction. But based on technicalities mentioned in terms and services with restricted boundaries of the promotion, this may not be the case.

Before walking into such a scheme, do your due diligence and study the promotion. And, remember, cashback services are not related to tax at any level. They are not taxable income or subject to tax.

When you spend money on your debit card you will earn reward points, which you can then spend. Online shopping is a great way to earn money using your debit card, through participating retailers. There are many deals on debit cards and credit cards, do your research to find the best deal. Check your bank account and credit card companies for any offers to earn money.

Remember a cashback credit card is not free money. Credit card companies make money from your spending. You can get cashback by using your debit card or credit card. Cashback is not free money.