Consumers are getting more interested in using debit cards. So, to enhance the cards’ popularity further, the debit card rewards concept has been introduced by major Indian banks and financial institutions.
With an unprecedented increase in its usage, the debit card market is also increasing with each passing day. A large number of banks and financial institutions are now providing debit card rewards to their consumers. For grabbing a better share of the pie, competing banks are offering lucrative perks and benefits, which are generally in the form of redeemable reward points.
Yes, with the growing popularity of debit cards, unsurprisingly, their market has turned up to be a pretty competitive one. In this scenario, the offered rewards are utilized as an effective tool for attracting consumers and expanding the card providers’ business.
Linked Features with Rewards
- The banks that offer rewards to debit card holders do not charge any kind of hidden transaction fees or annual fees.
- The services related to the protection of debit cards against frauds are also provided free of cost, or in some cases, at a very nominal rate.
- These days, almost all top listed debit card companies are providing lucrative rewards that are associated with the online transactions that their consumers carry out via debit cards. These reward points can be utilized for buying various consumer goods, tickets, fast food, etc.
How Debit Card Rewards Differ from Credit Card Rewards
At the very onset, the rewards offered by credit card companies might seem more beneficial than the reward programs offered by debit card companies. However, it is a known fact that the reward points passed on by credit cards include hidden fees such as penalties, annual charges, and so on. Additionally, the interest rates charged on the paid amount is also very high. So, even though credit card rewards seem big, but in reality, they are not. Also with the growing market for debit cards, users can expect new and exciting rewards along with several other opportunities offered by their mother companies.
So what are you waiting for? Do not lose the chance of acquiring exciting debit card rewards – start shopping and earning more reward benefits – you will love to see all that comes your way!