The progression of banks in Poland is still growing. Their offer is constantly expanded with new products and bonus systems. However, in this matter there is a constant battle for the customer.
It is known that which outlet will offer the best conditions, will therefore attract more potential consumers. Advertising is also important here, but you have to be aware of the fact that a bank that offers attractive cooperation must somehow inform the customer about it.
One of the ways in which the bank encourages new users to use their services, and thus rewards those who already use them in practice is the so-called Cashback. You can find more about Cashback in this article.
Credit card and refund for purchases – cashback.
To understand the essence of his activity, which is not really complicated, you must be a proud credit card holder. Banks strongly encourage its release, and sometimes even slip it into our hands themselves, without charging any fees for it (theoretically). The whole essence of Cashback is based on the fact that part of the funds that we spend using a credit card is returned to our account. Admittedly, these are not excessive amounts, but a relatively low percentage fixed on the amounts left at payment points. For people who finalize transactions mainly by credit card, this solution seems to be a very good idea, because they still have to make various payments, and by the way from the bank some amounts are transferred to a personal account.
The offers are very different, but most often the amounts of return oscillate around 0.5% – 2%. At least that’s how it looks in theory. In practice, however, it is not so rosy even for those who regularly use credit cards. Banks “protect” themselves against paying larger amounts to the user by introducing various restrictions. The simplest of these is a monthly or annual refund limit for purchases with a credit card. Once it is reached, no commission is charged for the amounts spent, and unfortunately no bonus is given for further transactions.
So how much will such an average bank give us to earn on Cashback?
The situation varies depending on the institution. The maximum refund amount is between PLN 100 – 1000 per month. Another type of offer that banks introduce is counting Cashback for money spent only in specific industries on the market. Most often, the commission is several times higher, because it can amount to several dozen percent of the return for purchases from partners of a given bank, but there is nothing to cheat that we will not earn a fortune on this account. For example, in a given cosmetics store we will get a 10% refund for shopping with a credit card. The offer looks quite decent, but here you should ask yourself how many products we buy from this industry per month?
Is it worth getting into it?
As already mentioned in the text, the bonus system for shopping with a credit card is mainly addressed to people who regularly use this “plastic”. The best option is when it is calculated for necessary transactions such as fuel, groceries, bills. It’s always a nice addition to your household budget, so it’s worth trying out this bonus.