Credit card ranking with rebate and moneyback programs

A credit card is a very convenient solution. Thanks to her, we will pay for the purchases after several dozen days. Can you expect something more from her? Yes – even the possibility of using discount programs or moneyback services

The times when the credit card appeared to us as something extremely luxurious, as a breath of a “better world” is long gone. There are almost 6.5 million credit cards in Poles’ wallets. Some of us use credit cards every day, others use larger purchases.

Orlando decided to look at credit cards whose holders in addition to using their basic functionality – deferring payment for transactions made using it – also have the opportunity to receive rebates e.g. when shopping with rebate program partners or to receive a refund of some expenses thanks to the moneyback service.

What and how we rated …

What and how we rated ...

Our “model” customer was a person actively using a credit card (making monthly using non-cash transactions for the amount of USD 1,500) and paying off debt before the end of the interest-free period. When assessing credit cards, we considered the following:

  • interest-free period
  • interest in interest-free transactions
  • the amount of the annual card fee (assuming the value of transactions made on an annual basis by our client)
  • possibility of using the rebate program
  • possibility of using the moneyback service.
  • We took 14 credit cards from 10 banks under the microscope. The number of points scored by the card determined the position of a given card in the ranking. Their maximum number could be 7.5. Partner cards were not considered.

Who won?

The holder of this “plastic” can benefit from a 1% reimbursement by card in grocery stores, DIY stores, gas stations, pharmacies, and travel agencies. When writing about this card, you must also mention the “Safe Travel” insurance offered to it. It completely satisfies the need to maintain safety during travel (from flight delay, through illness, treatment – even dental care, transport of a loved one to a sick person). It also includes amateur sports (surfing, diving, sailing, etc.). The cost of “Safe Journey” is USD 9.90.

The silver medalist scored 6.5 points, including their maximum number for interest on non-cash transactions and the amount of the annual card fee. This card gives you the opportunity to receive a 5% refund of the value of online transactions. The maximum refund amount is up to USD 1,000 per month and USD 4,000 per year.

Reimbursement is due for transactions made in online stores in Poland and abroad and can be used by customers who receive on the personal account maintained at Good Finance Sync salary or scholarship from the university. An additional bonus for this card is the World MasterCard Rewards loyalty program (for every USD 5 spent with the card one point is awarded. Points are converted into attractive prizes from a special catalog).

Each of them scored 6 points

money

Including their maximum number for interest on non-cash transactions and the amount of the annual card fee. Holders of both cards occupying the lowest step of the podium can use moneyback. In the case of a card issued by the virtual Good Finance Sync, the offer is the same as for the card in second place.

In turn, Silver Good Finance Bank Credit Cardholders receive a refund of up to 1% on each card purchase. At the same time, customers for whom Good Finance Bank is the “main bank” can benefit from moneyback, i.e. they have an account that is topped up on a monthly basis for remuneration, annuity, retirement or scholarship.

When deciding to use a credit card, in addition to factors such as the interest rate on non-cash transactions, the length of the interest-free period or the amount of the annual fee for the card, it is also worth considering whether by paying with the card we will get discounts in stores or whether part of the expenses will return to us.

A big bonus – or if you prefer – the “added value” of a credit card is a deferred payment. Nobody said that we can’t increase this bonus yet thanks to the moneyback service or rebate programs. With all this, however, remember to use the card in moderation …