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.
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