Credit cards are a need that very few of us can ignore. Today everything is online, and most people prefer plastic money over cash. As a result, credit cards are one of the most utilized financial tools in the world today. These are similar to loans and can be availed with a swipe of the card. Ever since their inception in the 1950s, they have had a significant impact on the economy.
A credit card is the plastic mode of transaction that becomes a dear friend when the cash in the wallet dries out. It stands by when the cash in hand or at the bank becomes null and void. To avail of a credit card, specific eligibility criteria have to be met. Companies in India provide salaried individuals with a plethora of credit cards. However, each card comes with different benefits and features, and the eligibility criteria for each e-card will vary.
So, why not glance at the elusive list of top 10 credit cards and choose the one that can fulfil your shopping or spending desire?
List of Best Credit Cards in India
1.HSBC Visa Platinum Card
This credit card is offered by HSBC bank and is preferred by many people because of the endless rewards. Cardholders can enjoy cashback, discounts, reward points and much more.
- During the initial sixty days, one can avail of 10% cashback on all purchases, on a minimum of 5 transactions and a minimum purchase of INR:10,000. After that, a maximum cashback of Rs.2000 can be availed.
- One can get up to INR:2250 with three complimentary airport lounge access at domestic and international lounges and airline vouchers.
- One can earn 2 points on every Rs.150 spent using the card and earn extra points at selected additional partners.
- After a minimum purchase of Rs.400000 in a year, one can earn 5x rewards on all successive transactions, with a maximum of INR: 15,000 accelerated reward points during an anniversary year.
- One can book two movie tickets and get 1 of them free when booked through BookMyShow mobile app.
- Save up to INR:3000 annually on fuel surcharge and enjoy discounts under HSBC Dining Privileges.
2.YES Prosperity Edge Credit Card
The YES Prosperity Edge Credit Card allows a person to earn while spending and enjoying rounds at select golf courses in India.
- One can get INR: 15000 as bonus reward points when the purchase reaches Rs.6 lakh or more every year of the anniversary.
- One can earn 4, and 2 reward points each for every Rs.200 spends in all categories.
- Get four complimentary rounds per calendar year at selected Golf courses in the country.
- One can also enjoy one complimentary golf lesson every calendar month at selected golf courses.
3.RBL Bank Shoprite Credit Card
While shopping with the RBL Bank Shoprite Credit Card, one can earn reward points and redeem them for products per the bank’s catalogue.
- One can get reward points for every Rs.100 to spend on any purchase except fuel.
- Get twenty reward points for every INR:100 spent for grocery shopping.
- Get a 10% discount up to Rs.100 on movie tickets purchased on BookMyShow 15 times a year.
- Get ten reward points for every Rs.100 spent on fuel transactions.
- A person can earn maximum of 1,000 reward points in one month.
4.Standard Chartered Platinum Rewards Credit Card
The Standard Chartered Platinum Rewards Credit Card helps to save money every time you dine out. You can also earn rewards on shopping.
- Get 5x reward points on every INR: 150 spend at fine-dining outlets.
- Can earn 5x reward points for every INR:150 spent on buying fuel.
- 1x reward points on every INR: 150 spent on other categories.
5.Amazon pays ICICI Credit Card
When it comes to co-branded benefits, this card is one of the best options for credit cards. When an individual shops at Amazon frequently, they can save big on the entire Amazon spends in the form of cashback. The USP of this credit card is that one would get all the benefits free of cost as there is no joining or renewal fee on this card.
- One gets 5% cashback on all purchases at Amazon for Amazon Prime customers in addition to existing offers.
- 3% cashback on any purchases for non-prime customers.
- 2% and 1% cashback on shopping at Amazon partners and gift card purchases.
- 2% Reward Points on recharges, bill payments and more, and one reward point equals to in rupee on the card.
- 1% fuel surcharge waiver on any petrol pumps across the country.
- No cost EMI on all purchases above INR:3,000 for three or six months.
- Cashback is available for Prime and non-Prime members as Amazon Pay balance. Reward points are converted to Amazon Pay balance and credited to Amazon account as Amazon Pay balance.
6.HDFC Freedom Credit Card
This credit card is ideal for users to enjoy an interest-free period of up to 50 days. In addition, one can enjoy 500 reward points as a welcome benefit and a renewal bonus of 500 points while paying the renewal fees.
- Enjoy 5X reward points on grocery, movie, dining, railway, and taxi bookings.
- Get 25X reward points on spends made by the cardholders birthday.
- One can avail of 10X reward points on SmartBUY and PayZapp purchases.
- A cardholder can get a gift voucher worth INR:1000 after spending Rs.90,000 in a year.
- When a person Spend Rs.50000+ in a year and get the renewal fee waived off.
7.SBI simply click credit card
It is one of the best cards that one can opt for as there is a maximum benefit on online spending. In addition, it gives up to 10X reward points, and discount offers on online shopping, making it most suitable for shopaholics.
- Cardholders can get an INR: 500 gift voucher as a welcome gift.
- Earn one reward point on every INR:100 spend on the card.
- Get 5X Rewards on all online spending and 10X Rewards on making online spends with exclusive partners of SBI Card.
- Enjoy a 1% fuel surcharge waiver on fuel transactions worth Rs. 500 to Rs. 3,000 subject to a complete release of INR:100 on every billing cycle.
- After spending 1 Lakh in a year, and can get the annual fee of INR:499 reversed.
- One can benefit from the contactless feature and make payment by waving the card in front of a POS terminal.
8.Axis Bank Ace Credit Card
This is among the best credit cards in India for any cashback as it comes with the highest universal cashback rate of 2%. So when the cardholder is unsure about the categories for spending, then a cashback credit card would be the right choice.
- 5% cashback on any bill payment and mobile recharges through Google Pay.
- 4% cashback on Zomato, Swiggy, and Ola and 2% cashback on all other spendings.
- No maximum limit on the cash back earned.
- 5% cashback on Big Basket and Grofers.
- Four complimentary lounge visits are permitted every calendar year.
- 1% fuel surcharge waiver for transactions between INR: 400 and INR:4,000; full release of INR:500 in a month.
- Joining and renewal fees INR:499.00, which is reversed on spending Rs. 10,000 in the first 45 days and changed spending Rs. 2 Lakh or more in the preceding year.
9.Citi Premier Miles Credit Card
Individuals who don’t mind shelling some money on their credit card fee in exchange for exclusive travel benefits on every spend, lounge access, discounts and other travel deals can apply for Citi PremierMiles Credit Card, one of them the top travel credit cards in India.
- When a person spends INR: 1,000 or more within sixty days of card issuance and can get 10,000 Bonus Miles.
- Get 3,000 Miles on card renewal and earn 4 Miles for every INR:100 spent across all categories.
- A person can get 8 Miles for INR:100 spent at Amazon India, Flipkart and Myntra.
- Earn 10 Miles for every INR:100 on transactions made with any airline in the world
- The accumulated air miles never expire, and one can get complimentary access to airport lounges in India and across the globe.
- Transfer Miles are provided to the Frequent Flyer Programs of different airline partners in a 2:1 ratio.
10.IndusInd Bank Platinum Credit Card
The premium credit card is ideal for people who wish to live a posh life. It offers multiple lifestyles and dining benefits to cardholders.
- A person can earn 1.5 Reward Points on every INR: 150 spent using the credit card.
- The cardholder can enjoy complimentary golf lessons and games at golf courses in India.
- They can also avail discounts on movie tickets when you book using this card on BookMyShow.
- Enjoy a complimentary Priority Pass, access airport lounges in India and abroad, and enjoy benefits under the Travel plus Program.
- One can avail of Travel Insurance cover and enjoy 24×7 concierge services, and the card’s Total Protect feature will protect from fraudulent transactions.
- A person can avail of free air accident cover of 25 lakh and services during an emergency through the bank’s 24×7 Auto Assist Facility.
The thumb rule for maximum returns from the credit card as the credit card industry in India is rapidly changing. One has to be aware of the changes happening to make the most out of it. For example, as travel and outdoor dining are being banned due to COVID lockdowns, the spending on credit cards reduced significantly. As the situation normalizes and spends on cards picks up, we expect some exciting credit card launches. To reap maximum benefits, one may get multiple credit cards but make sure to have a strategy in place to reap the full benefits out of them.
Frequently asked questions Regardiing Credit Cards in India
There are a lot of options for shopping on credit cards in India. Depending on the need, one can choose SBI Simply Click Credit Card, Citi Card and or HSBC Visa Platinum Credit Card.
Most credit cards in India are safe. Cards like HSBC Visa Platinum Card and Citi cashback Card are secure credit cards.
The system of reward points varies from one card to another. However, for the best reward points, one can choose HDFC Freedom Credit Card or Citi Cashback Card, to name a few.
Many credit cards in India come with essential travel benefits, including lounge access at the airport, accelerated reward points on travel bookings, etc.
There are a particular set of cards that are solely entertainment-oriented. For example, the HDFC Moneyback Credit Card and the Axis Bank Neo Credit Card are among the top credit cards for entertainment expenses.
No, the range of credit cards offered by different banks varies, as they provide benefits at a nominal annual fee. Such credit cards are the HDFC Bank Money back credit card, ICICI Bank Platinum Credit Card.
The minimum wage required for a credit card varies for each bank. Credit cards are offered to applicants who may not have a higher income but can get one with a lower credit limit depending on the factors checked by the bank.
Citi is some of the best credit card issuers known for its premium support. One may also enjoy a similar treatment with any bank if they take their super-premium cards.