Credit card companies have long been promoting credit cards that offer 100% cash back. Do such credit card companies really do so is a question. Is this entire thing fake or just a marketing propaganda that companies indulge in? The credit cards make money not only from the annual fees and finance charges but also through the system. Out of every purchase made the companies make somewhere between 1-3 % depending on the network and the card. So to truly benefit from your card you need to find a card that is willing to offer you some of this profit back. ICICI has come up with a scheme wherein the user can get cash back of 100%. There is a minimum purchase of Rs. 2000 attached in this case. According to Rajiv Sabharwal, GM, Retail Assets, ICICI Bank: We have done some research and it is clear that the customer will win some cash back. But the probability of winning higher cash back is lesser. However, there could be a lot of people who can win 75% or 100% cash back. It is a game of probabilities.
Tags: Business, credit card, credit card companies
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