Answer library
Cashback caps and the effective reward rate
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Published by the IndevBank product team · Reviewed
A headline cashback rate applies only until a cap or exclusion reduces the reward. The effective rate is the reward actually retained divided by the relevant purchase amount.
Per-transaction cap
At 1.5%, an eligible settled $1,000 purchase produces $15 before other adjustments. A $4,000 purchase would produce $60 without a cap, but the planned $50 transaction cap limits it to $50. Its effective reward rate is therefore 1.25%, before any fees.
Monthly cap
Six eligible $4,000 purchases produce $300 after the $50 transaction cap. A $250 monthly cap reduces the monthly total to $250. On $24,000 of purchases, that is approximately 1.04%, not 1.5%. This is an example of a limit, not a suggestion to increase spending.
Eligibility comes before the calculation
Cash-equivalent and excluded merchant categories earn no reward. IndevBank public configuration lists MCCs 6010, 6011, 6012, 6051, 6540, 7995, 4829 and 6211. An MCC is assigned through the payment system; a merchant name alone does not establish eligibility.
Fees can erase the reward
A $15 reward on a $1,000 purchase minus an assumed $20 total cost leaves a negative $5 result. The assumed fee is not an IndevBank fee quote. Cashback is not a reason to borrow, buy more or ignore interest and collateral risk.
Programme sources
Examples are educational calculations, not a product recommendation. IndevBank product figures are the published programme parameters and a dated configuration snapshot. They are not personalised advice.
Fees, limits and source classification