New Delhi, Aug. 4 -- While taking a credit card, one of the criteria that an individual looks at is the reward structure. Some credit cards give reward points. These can be redeemed in multiple ways, and the value per point varies.

On the other hand, some credit cards keep it simple by giving cashback. In this article, we will discuss both the types of credit cards and which credit card an individual should choose.

A cashback credit card gives a certain percentage of the eligible transaction value as cashback. During a statement cycle, the cashback for all eligible transactions accumulates. Once the statement is generated, the consolidated cashback is awarded to the cardholder.

Cashback credit cards are simple, as the percentage of cas...