Credit Insights
How I picked the right Credit Card: Cashback vs miles vs points
One card, three choices, cashback Credit Card vs travel miles card vs points card.
Key insights
Decoded the terms around cashback vs miles vs points Credit Cards to understand which suited my lifestyle.
Analysed three months of expenses on food delivery, online shopping, and subscriptions to identify spending patterns.
Learned that there is no one-size-fits-all solution; the right card depends on personal spending habits.
There comes a time in every 20-something’s life when you unlock a new level of adulthood, and for me, it was picking my first-ever Credit Card. Between cashback, travel miles, and reward points, the choices were endless.
But hey, instead of stressing, I decided to dig deeper to understand which one suits my lifestyle the best. I’ve done the deep dive, so you don’t have to, and found out which card makes sense according to your lifestyle and your wallet. Let’s break it down.
Here's why I wanted a Credit Card
It all started with a random ad I saw that said: “If you’re not using a rewards-based Credit Card, you’re missing out on free money.”
Wait, some free money just for spending money smartly? Yes, please.
Plus:
- I was already shopping online.
- And getting a card felt like a superpower move in my adulting journey.
- Those cool perks people talk about? I wanted a slice of that.
After researching more, here’s what I found out.
Step 2: Reading the terms & conditions
For the very first time, I didn't skip and read those terms and conditions. Turns out:
- Some cashback cards had specific monthly caps.
- Others had a spending cap of ₹20,000 or more, after which I could unlock additional perks.
- Miles usually come with a deadline as per airline restrictions.
- Many cards waive annual fees when you hit a certain amount.
Hence, I looked for a card that rewarded me based on how I actually spend, not how I wish I did.
Step 3: Asking friends and relatives
So, I spoke to my friends and relatives about “cashback vs miles vs points Credit Cards" to understand what everyone used.
Responses were eye-opening:
- Cashback supporters: “I get ₹300 back as cashback by just uploading bills.”
- Miles’ family: “I booked a domestic flight using just miles.”
- Points crew: “Saved ₹5k in vouchers last year.”
In short, they all work amazingly well if your Credit Card matches your spending habits.
Select a card that matches your lifestyle
Here’s the good news: The “perfect” card is the one that best fits your lifestyle.
- Love travelling? A miles card can take you places.
- Big on online shopping? Go for a rewards-heavy card.
- Prefer something simple? Cashback has your back, and you can earn something back instantly every time you just swipe.
Select a smart card that aligns with your current spending habits and enjoy the amazing perks.
Full & final swipe
Getting my first Credit Card wasn’t just about spending; it was about spending smartly by wisely managing cashback vs miles vs points.
Now, every time I pay for something, I know there’s a tiny reward coming my way. So, if you’re stuck choosing between cashback vs miles vs points Credit Cards, ask yourself one simple thing: “What do I actually spend the most on, and what kind of reward would genuinely make me smile?”
Answer that honestly, and you’ll find the card that matches your preferences.
Disclaimer: This article is intended solely for informational purposes. The views expressed in this article are personal. Axis Bank and/or the author shall not be liable for any direct or indirect loss or liability incurred by the reader arising from reliance on the content herein. Readers are advised to consult a qualified financial advisor before making any financial decisions. Axis Bank does not endorse or guarantee the accuracy of any third-party content or links included in this article.
By Axis Bank Learning Hub Team
