What is cashback?

A cashback is a kind of a perk that is provided to cardholders by credit and debit card companies. Its most importantly, as its name suggests means getting a percentage of your cash invested, back to you. These cashbacks are provided to the holder for branded companies which includes groceries, recharges, transport tickets, movie shows, clothing, accessories and many more. These credit card companies have tie ups with other certain brands which helps the customers to avail amazing offers on different cards.

These cashbacks are offered to you via bank statements, which means that you can get this cash back into your credit card balance. Or as gift cards which are of different brands and can be used to purchase the customers liked items from the brand. Or can also be sent to donation charities. There are other options too, to use these cashbacks. Even though it is said the bigger the amount of money you spend the higher will be the cashback, it is very important to consider ones allowances and the need of the product you are planning on spending your hard earned money on.

Before availing a cashback it is very important to choose the correct card. Different credit cards have different offers and schemes available on them and sometimes better than the other making it very important to compare and put forward your purchase.

What are the Benefits and drawbacks of cashback?

There can be many advantages and disadvantages to a cashback some of which are stated below.

• Cashback helps you with easing your finances, provides you with fun interesting rewards on spending on an item and not only this but encourages you to invest and trust a particular company. One can also earn more cash than they have already spent by spreading the word around about a particular offer and by using referral codes.

It also benefits the card companies as well as the companies from where the items are being purchased because the card company has a larger number of users spending from their credit card which indeed is always profitable for them, not only this but it does help in increasing marketing as well as the show value of a particular product.

• The drawbacks of cashback would be that the deals provided on a particular card are not always the best deals available in the market and the lack of not having a card with a better deal would be the customer’s loss.

Some cashback websites also charge a heavy fee from the user making it lose more than their earning which is a loss for the consumer. Often users come across fake websites which can not only steal your cashback but also copy your card details and commit frauds.

What is a discount?

The dictionary meaning of a discount is the deduction of a significant volume of percentage of money from the buyers purchase, from the selling price of the product.

Even though discount has many other meanings, here we talk about the discount that is offered to customers on valuable products. Discount is provided on the selling price and is a very useful and effective way to increase sales and spread the popularity of products.

Companies come up with a fixed percentage of discounts on products, products like clothes, groceries, makeup, body care items, utensils and mostly everything available in the market. 

To calculate the amount of money off in a discount our great ancestors have invented a formula which helps is calculate the exact amount that needs to be paid:

(Discount%/100) multiplied by the selling price of the product.

What are the benefits and drawbacks of a discount?

There can be many advantages and disadvantages to a discount some of which are stated below.

• Discounts helps a cutomer increase their horizon by trying various new brands. Not only does it help you increase you horizon but also helps you with choosing one store which becomes your favourite and offers customer discounts too.

Discounts are considered to be one of the quickest way to up the sales of a brand, because who does not like a good discount right? Customers who have never visited a certain brand for whichever reason are more likely to be attracted to a brand offering a good discount. Not only does it help with increasing the sales but also helps in clearing out products from the stores which are not required anymore.

• The biggest disadvantage of a discount is that it does not let you gain the amount of profit which was actually expected. It also does not help in building a loyal customer base as the customer is only attracted to the discount and not the art of the product the seller is selling.

Discounts also makes the seller question the product, the quality and authenticity of the product and themselves in the whole.

Where to find the best cashback offers and discounts?

The best cashback offers and the best discount offers are available to the customers on the following websites.

1. CouponDunia
2. Pennyful
3. TopCashback.in
4. GoPaisa
5. CashKaro
6. PaisaWapas.com
7. Baggout.com

Please find your best deals on these websites to save money and get great goods and services.