Credit Card Shopping: In today’s digital era, everyone is using credit cards extensively. Not only this, some people get badly trapped in the trap of ‘cashback’ and ‘reward points’ in the name of credit card. We are saying this because credit card ‘cashback’ and ‘reward points’ are not just offers but have also become a part of deep shopping psychology in today’s era. So let us know in this news how cashback tempts us to spend more and more.

1. The attraction of ‘free’ becomes a big problem

Regarding this matter, some psychologists believe that as soon as we spend cash, our brain feels real pain. At the same time, this pain is felt a little less while using the credit card. Apart from this, the lure of ‘cashback’ completely releases dopamine in our brain, which makes us feel that we are going to get more money.

Woman fined Rs 2560 despite having confirmed train ticket, know this important rule of Railways

2. Know the minimum spending condition here

On the other hand, most cards offer cashback of Rs 500 to customers on purchases worth Rs 50,000. So, while trying to save Rs 500, many times you end up incurring a huge loss of Rs 1,500. For example, if your need is only 3 thousand rupees, then to get 500 rupees, you start buying goods worth 2000 thousand rupees without any thinking. After which you later come to know what a big mistake you have made.

3. Fear of ‘missing out’

Apart from this, the offers given for a limited time do not give us a chance to think much and for a long time, which makes us feel that if we do not buy the item today, we will completely lose this cashback. We often forget that in our hurry, we buy those things which we do not need in any way.

4. Credit card loan cycle?

Gradually, the real danger of cashback starts when we go beyond the budget in pursuit of rewards. For example, if you are not able to pay the credit card bill in full at the end of the month, the bank will charge you 36 percent to 45 percent annual interest on it. In such a situation, even if you are getting cash back of 2 or 5 percent, it will become completely zero in front of the huge interest.

What to do if TTE asks for money to give you a seat in the train? These train tips will be useful for you

After all, how to save yourself from this trap?

To avoid the dangerous trap of cashback, you must think carefully before purchasing anything. Apart from this, do not forget to make a list before purchasing any item. If seen, cashback is a very good option if it is used properly.