Cashback programs are incentives for people to use their credit cards, but they have often also caused many to slip into dangerously high debt levels. UAE-based financial planners advise how you needn’t overspend when earning such credit card incentives or benefits.
Read the full story here: https://gulfnews.com/your-money/budget-living/are-credit-card-cashbacks-driving-you-deeper-into-debt-how-you-can-protect-yourself-1.1693233377446
See more videos at https://gulfnews.com/videos
Read more Gulf News stories here: https://bit.ly/2HLJ2km
Subscribe to Gulf News on YouTube and watch more of our videos: https://www.youtube.com/user/GulfNewsTV
#UAEnews #money #creditcard
Read the full story here: https://gulfnews.com/your-money/budget-living/are-credit-card-cashbacks-driving-you-deeper-into-debt-how-you-can-protect-yourself-1.1693233377446
See more videos at https://gulfnews.com/videos
Read more Gulf News stories here: https://bit.ly/2HLJ2km
Subscribe to Gulf News on YouTube and watch more of our videos: https://www.youtube.com/user/GulfNewsTV
#UAEnews #money #creditcard
Category
🗞
NewsTranscript
00:00Cashbacks are essentially incentives for you to use your credit card more, but it can also
00:10push you deeper into debt.
00:12The reason being, you tend to spend more to get more cashbacks, according to surveys.
00:17UAE experts also reveal that cashback credit cards have higher interest rates compared
00:22to other cards.
00:23This is why the costs outweigh the perks.
00:27So if you are carrying a balance every month on your cashback credit card, prioritize interest
00:33rates over the perks.