Rewards Masterclass
Cashback vs points vs miles, what "5%" really means, and how reward maths actually works.
3 lessons
Short answer
The Rewards Masterclass is a free three-lesson path that replaces headline percentages with one honest question: *if I spend ₹100 on this card, how many actual rupees come back after all caps, exclusions and fees?* That number — the real reward rate — is usually well below the advertised one.
Rewards are the part of credit cards everyone talks about and almost nobody calculates. This path gives you the arithmetic, so marketing claims stop being persuasive and start being checkable.
What you will learn
- Cashback vs points vs miles — three reward species and how their value really differs.
- What "5% cashback" usually really means — category limits, monthly caps and exclusions, with a worked example.
- Milestones, waivers and the calendar game — the two dates most cardholders never track.
Read this first
Rewards only exist for people who never pay interest. A card paying 2% back while charging 3.5% a month on a revolving balance is not a reward card; it is an expensive loan with a small discount attached.
The one question that cuts through everything
"If I spend ₹100, how many actual rupees come back, after all caps and fees?"
Ask it of any card, any offer, any brochure. Most marketing cannot survive it — and the cards that can survive it do not need marketing.
Frequently asked questions
Are credit card rewards worth chasing?
Only on money you were going to spend anyway, and only if you never pay interest. A 2% reward is wiped out many times over by a single month of interest at 3–4%, which is why this path comes last on CardSamajh.
Which is better, cashback or points?
For most people cashback, because its value is fixed and obvious. Points can be worth more per unit, but only if you redeem them well and the redemption route is one you would actually use. Miles reward frequent flyers and nobody else.
Written and checked by the CardSamajh editorial desk · Last reviewed: · How we check this