Navigating the world of credit cards in India can be overwhelming especially with the plethora of options available. But fear not, fellow finance enthusiasts! This comprehensive guide will help you discover the top 10 best credit cards in India for 2024, tailored to diverse needs and lifestyles.
Buckle up, because we’re serving up a feast of credit card knowledge!
Here’s a sneak peek at what you’ll find:
- A curated selection of the 10 best credit cards in India, each with its own unique set of benefits and features.
- Expert insights on factors to consider when choosing the right credit card for you.
- A breakdown of the best credit cards based on popular categories like travel, rewards, and cashbacks.
- Detailed information on the features and benefits of each top credit card.
- Answers to frequently asked questions about credit cards in India.
So, whether you’re a seasoned credit card pro or a curious newcomer, this guide has something for everyone.
Factors to Consider Before Choosing the Best Credit Card in India
Before diving into the world of credit cards, it’s crucial to understand the key factors that influence your decision:
- Credit Score: A higher credit score increases your chances of approval and unlocks higher credit limits.
- Interest Rates: Compare interest rates across different cards to ensure you’re getting the best deal.
- Fees: Be mindful of annual fees, joining fees, and other charges associated with the card.
- Offers and Benefits: Evaluate the rewards programs, cashback offers, and other perks that align with your spending habits.
By considering these factors, you’ll be well-equipped to choose the credit card that perfectly complements your financial goals
Best Credit Cards Based on Top Categories
Here’s a quick overview of the best credit cards in India based on popular categories:
- Shopping and Rewards: RBL Bank Savemax Credit Card, Yes Bank Finbooster Credit Card
- Premium Rewards and Lifestyle: HSBC Platinum Credit Card, HDFC Regalia Credit Card
- Travel and Lifestyle: Axis Bank ACE Credit Card, IndusInd Bank Aura Edge Credit Card
- Premium Cashback and Rewards: IDFC First Millennia Credit Card
- Cashback: SBI Cashback Card
Now, let’s delve deeper into the features and benefits of each top credit card:
RBL Bank Savemax Credit Card: The Shopping and Rewards Powerhouse
- Lifetime free membership
- 5x reward points on all grocery spends
- 1 reward point for every Rs.100 spent
- 10% cashback on Zomato and BookMyShow
- Free credit advisory report every month
This card is a dream come true for shopaholics and reward enthusiasts, offering a plethora of benefits to maximize your spending power.
Yes Bank Finbooster Credit Card: The Rewards Accelerator
- Lifetime free membership
- Accelerated reward points on various spends
- Real-time credit score monitoring
- Contactless transactions for added security
- Insurance coverage, fuel surcharge waivers, and customizable rewards
With its focus on rewards and convenience, this card is a perfect fit for individuals seeking a seamless and rewarding financial experience.
HSBC Platinum Credit Card: The Premium Rewards and Lifestyle Card
- No joining or annual fees
- Air miles conversion on InterMiles, British Airways, and Singapore Airlines
- 5X rewards on subsequent purchases
- Up to Rs.3,000 annual fuel surcharge savings
- Zero liability for lost cards, emergency card replacement, and insurance coverage
This card is a luxurious treat for frequent travelers and lifestyle enthusiasts, offering a world of benefits and exclusive perks.
HDFC Regalia Credit Card: The Travel and Lifestyle Connoisseur’s Choice
- Complimentary Club Vistara Silver Tier and MMT Black Elite membership
- Vouchers based on quarterly and annual spends
- 5X Reward Points on select categories
- Lounge access at over 1000 airports
- Concierge services and milestone benefits
This card is a passport to a world of luxury and convenience, catering to the needs of discerning travelers and lifestyle connoisseurs.
Axis Bank ACE Credit Card: The Practical Rewards Card
- No joining or annual fees
- Cashback on bill payments, recharges, and everyday spends
- Airport lounge access
- Fuel surcharge waivers
- Dining discounts
- EMI conversion option
This card is a practical choice for individuals seeking a balance between rewards and everyday convenience, offering a range of benefits without any annual fees.
IndusInd Bank Platinum Aura Edge Credit Card: The Savings and Travel Companion
- 1% cashback on retail spends
- Comprehensive travel insurance
- EMI conversion at an attractive interest rate
- Complimentary movie ticket every 6 months
- Fuel and railway surcharge waivers
This card is a perfect companion for budget-conscious individuals and frequent travelers, offering a combination of savings, insurance, and travel benefits.
IDFC First Millennia Credit Card: The Millennial’s Style Statement
- Lifetime free membership
- Up to 10X Reward Points
- Low-interest rates
- Exclusive merchant discounts
This card is a stylish and practical choice for millennials, offering a range of benefits tailored to their unique lifestyle and financial needs.
SBI Cashback Card: The Cashback Powerhouse
- 5% Cashback on online transactions
- 1% Cashback on offline spends
- Renewal Fee reversal on annual spends of Rs.2 Lakhs
- Fuel surcharge waiver
- Global acceptance and contactless feature
This card is a dream come true for cashback enthusiasts, offering generous rewards on both online and offline transactions.
Best Credit Cards for Salaried Individuals
Salaried individuals have a wide range of credit cards to choose from. Depending on their monthly salary, they can opt for premium cards like the SBI Prime Card or cards with high cashback and reward points like the Finbooster credit card or the RBL Bank BankBazaar SaveMax Credit Card.
Frequently Asked Questions (FAQs) on Best Credit Cards in India 2024
Here are some frequently asked questions about credit cards in India:
Q: Which credit card helps me track my credit score?
A: The FinBooster: YES Bank – BankBazaar Co-branded Credit Card provides a real-time dashboard to track your credit score and spending.
Q: Do top credit cards have higher annual fees?
A: No, many cards offer zero annual fees or nominal fees.
Q: Which credit card is best for online shopping in India?
A: Several cards offer excellent benefits for online shopping, including the SBI SimplySave Credit Card and the HSBC Visa Platinum Credit Card.
Q: Which credit card in India has the best rewards program?
A: The FinBooster: YES Bank – BankBazaar Co-branded Credit Card, HDFC Freedom Credit Card, and IndusInd Bank Platinum Aura Edge Credit Card offer attractive rewards programs.
Q: Which credit card in India offers the best travel benefits?
A: Many cards offer travel benefits like lounge access and accelerated reward points on travel bookings. The HDFC Bank Regalia credit card is a popular choice for travel enthusiasts.
Q: Which is the best credit card for entertainment benefits?
A: The Kotak PVR Gold Credit Card, HDFC Moneyback Credit Card, and Axis Bank Neo Credit Card offer excellent entertainment benefits.
Q: What are the best credit cards available for a wide range of dining benefits?
A: The HDFC Bank Diners Club Credit Card and the IndusInd Bank Platinum Credit Card offer a wide range of dining benefits.
Q: Will the lounge benefits with these top credit cards be free of cost?
A: A certain number of lounge visits are free. However, exceeding the limit may incur charges.
This comprehensive guide provides a wealth of information to help you choose the best credit card in India for your needs. Remember to compare features, benefits, and fees before making your decision. Happy swiping!
Best Credit Cards Based on Top Categories
The below mentioned are few of the popular credit cards in India
| Credit Card | Best For |
|---|---|
| RBL Bank Savemax Credit Card | Shopping and Rewards |
| Yes Bank Finbooster Credit Card | Rewards Points |
| HSBC Platinum Credit Card | Premium Rewards and Lifestyle |
| SBI Simply Save Credit Card | Shopping and Rewards |
| HDFC Regalia Credit Card | Travel and Lifestyle |
| Amazon ICICI Pay Credit Card | Shopping and Rewards |
| Axis Bank ACE Credit Card | Premium Travel and Lifestyle |
| Indusind Bank Aura Edge Credit Card | Travel and Lifestyle |
| IDFC First Millennia Credit Card | Premium Cashback and Rewards |
| SBI Cashback Card | Cashback |
IDFC First Millennia Credit Card
The FIRST Millennia Credit Card is meticulously crafted to align with the distinctive preferences of the millennial lifestyle. This credit card comes with a lifetime free membership and stands out with its exceptional features. Benefits available to cardholders include exclusive discounts at a variety of merchants, low interest rates, and the opportunity to accrue up to 10X Reward Points. More than just a financial tool, this card is a style statement, reflecting the individuality of the cardholder. To be eligible for this exclusive offering, individuals need to have an annual income of Rs. 3 lakhs or more, and issuance is subject to the banks internal evaluation criteria.
You can learn about the features and benefits of the IDFC First Millennia Credit Card below:
- Earn 10X Reward Points on incremental spends above Rs. 20,000 per month and spends on your birthday. Acquire 6X 20,000 per month. Take advantage of the endless flexibility offered by Reward points, which never expire, and use them to quickly pay for purchases made online or in-store.
- Redeeming a reward will incur a small convenience fee of Rs. while you enjoy the benefits. 99 (+ applicable taxes) per redemption transaction.
- Seamlessly convert transactions above Rs. 2,500 into easy EMIs through the mobile app. Enjoy instant EMI conversion for online transactions above Rs. 2,500 on the banks OTP page.
- Balance Transfer: Move balances from other credit cards with ease and take advantage of a 25% discount on movie tickets (up to Rs. 100) on the Paytm mobile app once a month.
- Enjoy four complimentary trips to the railway lounge each quarter, along with free roadside assistance valued at Rs. 1,399.
- Take advantage of a 1% fuel surcharge waiver at all fuel stations in India, up to Rs. 200 per month. (Applicable on transaction values between Rs. 200 & Rs. 5000).
- Succumb to a plethora of merchant offers, which include discounts up to 2020% at restaurants and discounts up to 2015% at Health
- Enjoy a Personal Accident Cover of Rs. 2,00,000 and a Lost Card Liability Cover of Rs. 25,000 (good for at least one FIRST Millennia Credit Card transaction within the previous 30 days)
- Receive a welcome voucher worth Rs. 500 on spending Rs. 5,000 or more within 30 days of card generation. (If the card was issued prior to October 9, 2023, the voucher can be used for purchases totaling Rs. 15,000 or more within 90 days of card generation).
- Avail a 5% cashback (up to Rs. 1000) on the first EMI transaction value made within 30 days of the card’s creation.
With a 5% cashback on online transactions and 1% cashback on offline spending for tangible rewards, the SBI Cashback Card is especially designed to offer useful advantages. The Renewal Fee can be reversed by achieving annual spends of Rs. 2 Lakh, making it cost-effective for active users. Enjoy a 1% Fuel Surcharge Waiver at petrol pumps across India, contributing to savings on fuel expenses. The cards global acceptance and contactless feature ensure convenience and security in transactions. Additional features include add-on cards for family members, balance transfers on EMI, utility bill payments, and cash withdrawals.
The benefits of the SBI Cashback Card are outlined in the following section:
- 5% Cashback on online transactions, subject to merchant restrictions, plus an extra 1% Cashback on offline purchases Relevant to Merchant EMI only
- After your subsequent statement is generated, Card Cashback is automatically credited to your SBI Card account within two days.
- Take advantage of the Renewal Fee being waived for annual spending more than Rs. 2 Lakhs.
- Benefits from a 1% Fuel Surcharge Waiver at all petrol pumps in India for transactions between Rs 500 and Rs. 3,000 (exclusive of GST and other charges).
- Tapping your card at secure readers makes it easy to make everyday purchases and guarantees quick, easy, and safe transactions.
- Use your SBI Cashback Card at more than 24 million locations worldwide, including 3,25,000 locations in India.
- Give extra cards to family members (spouses, parents, kids, or siblings who are older than 18).
- Conveniently withdraw cash from over 1 million VISA ATMs worldwide.
- Use your Cashback SBI Card’s Easy Bill Pay feature to conveniently pay your utility bills, including those for electricity, phone, and mobile.
- Transferring outstanding balances from other banks’ credit cards to your CASHBACK SBI Card, obtaining a reduced interest rate, and making EMI payments will help you save money on credit card dues.