IDBI bank has come with an offer where one can get upto Rs 1000 as cash back offer, but have a look at the structure of payment with the card and cash back available.
- Rs. 20,000 to Rs. 49999 – Cash back Rs. 100
- Rs. 50,000 to Rs. 74,999 – Cash back Rs. 150
- Rs. 75,000 to Rs. 1,49,999 – Cash back Rs. 250
- Rs. 1,50,000 to Rs. 4,99,999 – Cash back Rs. 500
- Rs. 5,00,000 and above – Cash back value Rs. 1000.
This offer comes from IDBI bank where you have to make a minimum of 10 purchase transactions using your IDBI Debit Card at any of the POS (regular stores) or online shopping from October 1, 2011 to January 31, 2012 with the minimum cumulative spend of Rs. 20,000 to be able to qualify for this offer.
Thus if one analyse the cash back offer, than it is a more of a gimmick and is of not much value as by getting the cash back one may get into purchasing binge and may spend beyond their spending limits. Another drawback is that these cards and banks hardly live upto their commitments and if ever you get qualified, you will have to make the earth move to get your claim reward. We did have bitter experiences with HDFC bank and Axis bank in their cash back offers.
Only place where we did get a cash back in real was while using the ICICI bank and Ezeego Offers for cash refund for booking the air ticket.
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