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With so many credit cards available in the market offering benefits across multiple categories, choosing the best credit card in India for you can be a difficult task. To make your search for the right credit card easier, here we have listed the top 10 credit cards in India offered by leading banks and card isuuers. You must compare the best credit cards in India in terms of their annual fee, features, benefits and offers and then apply for credit card that best suits your needs.

Top 10 Credit Cards in India

Credit Card

Annual Fee

Best Suited For

Axis Bank Ace Credit Card

Rs. 499

Cashback

Amazon Pay ICICI Bank Credit Card

Nil

Online Shopping

HDFC Regalia Credit Card

Rs. 2,500

Shopping and Travel

BPCL SBI Card Octane

Rs. 1,499

Fuel

Citi PremierMiles Credit Card

Rs. 3,000

Air Miles

HDFC Moneyback Credit Card

Rs. 500

Beginners

SBI Card ELITE

Rs. 4,999

Shopping, Travel and Movies

American Express Platinum Travel Credit Card

Rs. 5,000

Travel

YES FIRST Exclusive Credit Card

Rs. 9,999

Reward Points

RBL Platinum Maxima Credit Card

Rs. 2,000

Movies

Top Banks and Credit Cards Issuers in India

SBI Card

HDFC Bank

American Express

ICICI Bank

Axis Bank

RBL Bank

Standard Chartered Bank

Citi Bank

IndusInd Bank

HSBC Bank

Kotak Mahindra Bank

YES Bank

Apart from offering ease of use, it is essential to have a credit card for the following reasons:

  • Helps in building a good credit score
  • Interest-free credit period of up to 45 days
  • Hassle-free transactions both online and offline
  • Comes with excellent rewards, cashback, discounts, offers, etc.
  • Handy in emergency financial situations
  • To make big-ticket purchases and pay later in easy EMIs
  • All transactions are secure as they need OTP & PIN authentication

Cardholders can enjoy the following benefits of credit card-

Welcome Offers: Most credit cards these days come with welcome benefits in the form of gift vouchers, discounts or bonus rewards points.

Reward Points or Cash Back: Every time you make a purchase on your card, you receive reward points, air miles or direct cashback credited to your account. The accumulated reward points can be redeemed to avail gifts and merchandise whereas cashback is directly applied to your card account. Air miles can be used to book flight tickets at discounted rates. 

Fuel Surcharge Waiver: Almost all the cards come with this benefit under which whenever you refill your vehicle, the surcharge will be waived off provided that you spend a certain amount.

Airport Lounge Access: Some credit cards also offer a certain number of complimentary lounge visits in a year at domestic airports and international airports. Travel-centric cards and premium cards especially offer these benefits.

Insurance: Credit cards also offer insurance and cover accidents up to a certain amount. It may be an air accident coverage, lost card liability cover or an overseas hospitalization cover.

Cash Advance: You can also withdraw cash directly from an ATM using your credit card. This is quite beneficial in times of emergency when you need some urgent cash.

Add-on Cards- A number of credit cards offer you the facility to get an add-on card (also known as a supplementary card) for your family members including your spouse, siblings, children and parents. An add-on credit card usually comes with similar benefits as the primary card.

EMI Conversion- EMI Conversion is the most common benefit on a credit card. You can convert your big-ticket purchases to EMIs and pay over a period of a few months.

Shopping

Travel

Fuel

           Rewards

                     Entertainment

             Zero Annual Fee

Premium

Co-Branded Cards

Secured

Best Shopping Credit Cards

Credit Card

Annual Fee

Key Feature

Axis Ace Credit Card

Rs. 499

Flat 5% cashback on bill payments, DTH, and mobile recharges via Google Pay

Flipkart Axis Bank Credit Card

Rs. 500

5% cashback on purchases made via Flipkart, Myntra and 2GUD

Amazon Pay ICICI Credit Card

NIL

5% cashback on shopping at Amazon for Amazon Prime Members and 3% for non-prime members

SBI SimplyCLICK Credit Card

Rs. 499

10X Reward Points on all online spends

American Express SmartEarn Credit Card

Rs.495

Up to 10X Membership Points on Online Spends at select platforms

Standard Chartered DigiSmart Credit Card

Rs. 49 per month

20% off* on Myntra & 10% off* on Grofers and Zomato

HDFC Millennia Credit Card

Rs. 1,000

5% cashback* on Amazon, Flipkart and HDFC SmartBuy transactions

*T&C Apply

Best Travel Credit Cards

Card Name

Annual Fee

Key Feature

Axis Vistara Signature Credit Card

Rs. 3000

4 Club Vistara points on every Rs.200 spent along with 3000 Club Vistara on spending Rs.75000

Standard Chartered Emirates World Credit Card

Rs. 3000

6 Skyward Miles for every Rs. 150 spent on Emirates and 5% cashback on duty-free shopping

RBL World Safari Credit Card

Rs. 3000

Earn 2 reward points on every Rs.150 spent and 0% forex markup fee

Citi Premier Miles Credit Card

Rs. 5000

Get 10,000 air miles on spending Rs.1,000 or more in the first 60 days of card issuance

American Express Platinum Travel Credit Card

Rs. 3500

Travel benefits worth Rs. 11,800 on spending Rs. 4 Lakh in a year

 Best Fuel Credit Cards

Card Name

Annual Fee

Fuel Benefit

BPCL SBI Card Octane

Rs.1,499

Up to 25X Reward Points on fuel purchases at BPCL petrol pumps

IndianOil Citibank® Platinum Credit Card

Rs. 1,000

Up to 71 Litres* of fuel for free per year

IndianOil Axis Bank Credit Card

Rs. 500

4% value back on fuel purchase at IOCL petrol pumps

HDFC Bharat Cashback Credit Card

Rs. 500

5% cashback* on Fuel Spends

BPCL SBI Card

Rs. 499

Up to 4.25% Value Back on Fuel Expenses

IndianOil HDFC Credit Card

Rs. 500

Earn back 5% of fuel spends as Fuel Points

Standard Chartered Super Value Titanium Credit Card

Rs. 750

5% cashback on fuel spends at all petrol pumps

ICICI HPCL Coral Credit Card

Rs. 199

2.5% cashback at HPCL Fuel Stations

*T&C Apply

Best Rewards Credit Cards

Card Name

Annual Fee  

Key Feature

HDFC Moneyback Credit Card

Rs. 500

2 Reward Points per Rs. 150

Citibank Rewards Credit Card

Rs. 1000

1 Reward Point per Rs. 125

American Express Membership Rewards Credit Card

Nil

1 Membership Reward Point for every Rs. 50 spent on the card

HSBC SmartValue Credit Card

Rs.499

1 Reward Point for every Rs.100 spent and 3x reward points on online and dining spends

Standard Chartered Platinum Rewards Credit Card

Rs.250

5 Reward Points on every Rs.150 spent on hotel, dining and fuel

Best Entertainment Credit Cards

Credit Card

Annual Fee

Entertainment Benefit*

HDFC Bank Times Platinum Credit Card

Rs. 1,000

25% discount on movie tickets booked via BookMyShow

Axis Bank My Zone Credit Card

Rs. 500

25% cashback on movie tickets booked through Paytm

Axis Bank Neo Credit Card

Rs. 250

10% discount on booking movie tickets booked via BookMyShow

RBL Popcorn Credit Card

Rs. 1,000

4 movie tickets up to Rs. 1,000 at BookMyShow as welcome gift

Citi Cashback Credit Card

Rs. 500

5% cashback on movie tickets

SBI ELITE Card

Rs. 4,999

Free movie tickets worth Rs. 6,000 per year

Kotak Delight Platinum Credit Card

Rs. 299

10% cashback on movies

SBI Card Prime

Rs. 2,999

10 reward points per Rs. 100 spent on movie ticket bookings

RBL Bank Cookies Credit Card

Rs. 500

10% cashback on movie ticket booking via BookMyShow

Kotak PVR Platinum Credit Card

Rs. 999

5% cashback on movie tickets at PVR Box Office and 2 free PVR movie tickets every month

*T&C Apply

Best Zero Annual Fee Credit Cards

Card Name

Annual Fee

Key Feature

HSBC Platinum Credit Card

Nil

Buy 1 Ticket Get 1 Free on BookMyShow

ICICI Amazon Pay Credit Card

Nil

5% cashback for Amazon Prime users on using Amazon

Kotak Fortune Gold Credit Card

Nil

On spending Rs.1,50,000 in a year, you get 4 free PVR movie tickets or cashback of Rs.750

ICICI Platinum Chip Card – Visa Credit Card

Nil

Minimum 15% savings on dining at partner restaurants

Axis Insta Easy Credit Card

Nil

Get 100% cash withdrawal facility

Best Premium Credit Cards

Credit Card

Annual Fee

Premium Highlight*

HDFC Bank Infinia

Rs. 10,000

Unlimited free golf games at select courses worldwide.

HDFC Bank Diners Club Black

Rs. 10,000

Annual Memberships (MMT DoubleBlack, Club Marriott, etc.)

ICICI Bank Emeralde

Rs. 12,000

Unlimited Lounge Access

No over limit, cash withdrawal or late payment charges

SBI Card ELITE

Rs. 4,999

Free Memberships (Club Vistara, Priority Pass, etc.)

American Express Platinum Reserve

Rs. 10,000

Hotel Privileges at Taj hotels and Preferred Hotels & Resorts

Standard Chartered Ultimate

Rs. 4,999

Get access to select golf courses in India and 150 courses worldwide

YES First Exclusive

Rs 9,999

Unlimited Priority Pass access

*T&C Apply

Best Co-branded Credit Cards

Credit Card

Annual Fee

Co-branded Benefit

Amazon Pay ICICI Bank Credit Card

Nil

Up to 5% cashback on Amazon*

Flipkart Axis Bank Credit Card

 Rs. 500

Up to 5% cashback for Flipkart, Myntra, & 2GUD

Yatra SBI Card

Rs. 499

Discount on flight and hotel booking with Yatra.com*

IndianOil Citi Platinum Credit Card

Rs. 1,000

Get up to 71 Litres of free fuel in a year at IndianOil Stations*

MMT ICICI Bank Signature Credit Card

Rs. 2,500

Complimentary MMT DOUBLEBLACK and MMTBLACK membership*

Axis Bank Vistara Signature Credit Card

Rs. 3,000

Club Vistara Silver Membership and exclusive discount*

Lifestyle Home Centre SBI Card SELECT

Rs. 1,499

10 Reward Points per Rs. 100 spent at Lifestyle, Home Centre & other stores

BPCL SBI Octane Card

Rs. 1,499

25 reward points on every Rs. 100 spent at BPCL petrol pumps

*T&C Apply

Best Secured Credit Cards

Credit Card

Annual Fee

Minimum Fixed Deposit Amount

Paisabazaar Step Up Credit Card

Rs. 250

Rs. 12,000

SBI Card Unnati

NIL for the first 4 years and Rs. 499 fifth year onwards

Rs. 25,000

Axis Insta Easy Credit Card

Nil

Rs. 25,000

ICICI Bank Coral Credit Card against Fixed Deposit

Rs. 500

Rs. 20,000

ICICI Bank Instant Platinum Credit Card

Nil

Rs. 20,000

Credit Card Eligibility Criteria

Eligibility criteria for credit cards differ not only from one issuer to another but also for different card variants offered by the same issuers. While the basic requirements like age, city of residence, source of income, credit score, etc. are likely to remain the same across card variants, the major differentiator in case of credit cards is the minimum income requirement. Depending on the type of card, its benefits and annual fee, card providers have set the income eligibility criteria for each card they offer.

Minimum Income Requirement for Top Credit Cards in India

Credit Card

Minimum Income Requirement per month

Axis Bank Ace Credit Card

Communicated at the time of sourcing

Amazon Pay ICICI Bank Credit Card

Rs. 25,000 for existing ICICI customers
Rs. 35,000 for others

HDFC Regalia Credit Card

Rs. 70,000

BPCL SBI Card

Rs. 20,000

Citi PremierMiles Credit Card

Rs. 25,000

HDFC Moneyback Credit Card

Rs. 13,500

SBI Card ELITE

Rs. 60,000

American Express Platinum Travel Credit Card

Rs. 50,001

Standard Chartered Manhattan Platinum Card

Rs. 90,000

RBL Platinum Maxima Credit Card

Rs. 45,000

Documents Required

The documentation requirement also varies from issuer to issuer. Some of the key documents required to apply for a credit card are as follows:

  • Identity and Signature Proof-Passport, PAN card, Driving License, Voter ID card, Aadhaar card, employee identity card in case of government employees.
  • Address Proof-Bank statement, Rent Agreement, Voter ID card, Ration card, Passport, Driving License, telephone/ electricity/ water/ credit card bill or Property tax.
  • Age Proof-Voter ID card, Secondary School Certificate (class 10), birth certificate, Passport, Aadhaar Card, pension payment order or Receipt of LIC policy.
  • Income proof for Salaried Individual:Latest 3 months' salary slips, Salary account bank statement for six months.
  • Income proof for Self-employed businessmen/professionals:Latest IT Returns with computation of income and other certified financial documents along with business continuity proof.

Note: If you have a pre-approved credit card offer from an issuer, you may not have to submit any document, especially if you already have an existing banking relationship with the issuer.

Wide Choice: Choose from 50+ credit cards from leading banks and card issuers including ICICI Bank, SBI Card, Citibank, IndusInd Bank, Standard Chartered and more.

Pre-approved Credit Card Offers: Basis eligibility, customers can avail pre-approved credit card offers from our partners like SBI Card, Citibank, ICICI Bank, Axis Bank and IndusInd Bank. Pre-approved credit cards have excellent approval rate and require minimal documentation.

Chances of Approval: With Paisabazaar’s innovative ‘Chance of Approval’ feature, customers can ascertain their eligibility for different credit cards on our marketplace. The card offers are automatically sorted based on chance of approval. Your chances of approval can be Excellent, Good, Fair or Poor against each credit card and you are most likely to get approved for a card where your chances are excellent.

Expert Assistance: Paisabazaar’s team of credit card experts helps customers choose the most suited card for their needs. Our team assists the customers through the process of card selection, comparison, till the card is successfully issued, so that the applicant gets expert guidance at each step.

At Paisabazaar.com, you can compare credit cards that may suit your spending requirements and apply for the best credit card in three simple steps.

Step 1- Browse Credit Cards and Compare Offers

Find top credit cards by leading banks, which are sorted based on your Chances of Approval. Compare offers and fees on different cards to find one that suits your budget and lifestyle.

Step 2- Check Eligibility

Enter more details such as income, occupation, etc. along with the details of the existing credit cards that you hold to check whether you are eligible for the selected credit card.

Step 3- e-Approval

Fill out a basic form to get instant approval on your application.

Q: Do all credit cards come with an annual fee and joining fee?

Ans: No, not all cards attract an annual fee and/or a joining fee. In the case of basic beginner’s credit cards, there is usually no annual fee making them lifetime free. However, you should note that cards that have an annual fee often provide more benefits than the zero annual fee cards.

Q: Can I get cash from the ATM using my credit card?

Ans: This facility is known as a cash advance. You can withdraw a part of your total credit limit as cash from an ATM. But such cash withdrawals carry additional charges and feature a higher interest rate than your card-based purchases. Hence, you should always avoid credit card cash withdrawals and consider taking a personal loan if you are in urgent need of cash.

Q: How to earn and use credit card reward points?

Ans: Every time you use your credit card, you earn some reward points. Accumulated reward points can be redeemed against gift vouchers, merchandise or a direct statement credit. The rate of rewards differs from one card to another and is also based on spending. For example, some cards may offer extra rewards on grocery spend while another card may give you more rewards when you book flight tickets or hotels.

Some cards offer cashback instead of reward points. These are credited directly into your credit card account, unlike reward points that have to be redeemed. Some of the best cashback cards in India are Axis Bank Ace Credit Card, HDFC MoneyBack, Citibank Cashback and HSBC Cashback Credit Card.

Read More: Everything you need to know about Credit Card Reward Points

Q: Can my credit limit increase later on?

Ans: Credit limits are revised from time to time by the card issuer. This usually takes into account your previous payment track record and the length of your credit history. You may choose to avail such limit increase offers or avoid them as per your requirement.

Q: Do credit cards charge interest rate for non-payment?

Ans: The interest rate is applied on any balance you owe on your card. Credit card interest rates are the highest among various debt instruments available to the customer. In most cases, interest rates start at 18% and may go up to 45% annually based on various factors such as the type of card, card issuer policies and various other factors.

You can check the details of credit card interest rates charged by different lenders here.

Q: What is a secured credit card?

Ans: A secured credit card is one that is issued against an asset say Fixed Deposit. It can be a good beginning for those who are not eligible to get a regular (unsecured) card.

Paisabazaar Step Up Credit Card is the best secured credit card option for those who wish to build or improve their credit score but are not eligible for an unsecured credit card. The card has been launched in collaboration with SBM Bank (India) Pvt. Ltd. Users can choose from an FD of Rs. 12,000, Rs. 24,000 or Rs. 60,000 and get 83% of their deposit as credit limit on the card. Along with using the features of this credit card, the deposit will earn interest at the rate of 6.5%.

Q: What is the difference between rewards and cashback?

Ans: Rewards can be earned in the form of points that can later be redeemed against gift vouchers or statement credit whereas cashback comes directly into your card account. Most of the cards offer rewards and only a few provide cashback facilities.

Q: Can I convert my credit card purchases into EMIs?

Ans: Yes, you can convert your big-ticket purchases in easy EMIs as per the applicable EMI options available with your credit card. The interest rate on credit card EMIs varies from lender to lender, thus it is better to check the interest rate beforehand. You can use the credit card EMI calculator to check the same. Also, some lenders in collaboration with big brands and online stores offer discounted or no interest EMIs for their customers. You can check EMI options on your credit card using your net banking/credit card app or call bank customer care for more information.

Q: How to upgrade to a new credit card?

Ans: Mostly people upgrade to a new credit card when either they have low credit limit or they are not satisfied with the features offered with their existing credit card. In both the cases, getting a new credit card is the most feasible option. You can either apply for a new credit card through bank or look for upgrade option on your existing credit card. You can also compare credit cards at Paisabazaar.com and then select the one that best suits your requirement.

However, you should be considering the below mentioned factors before moving on to a new credit card:

Increased Credit Limit: This will not only increase your spending limit but will also help in improving your credit utilization ratio.

Spend Based Benefits: if you already have a credit card that has offers on fuel then no point having another one with same features. Look for cards that offer other benefits like travel, cashbacks, dining, movies, etc. depending on your spending habits.

Credit Score: Having multiple credit cards will divide your spend between them thus bringing your credit utilization on a single card down. If you keep the utilization ratio below 40% for all your credit cards your credit score will improve.

Card Fees & Charges: Getting a new credit card will also increase the burden of paying annual fees for the same. Also, the penalties on your new card will be revised depending on its annual fees. Thus, always consider the annual fees along with other charges before applying for a new credit card.

Q: What are Add-On credit cards?

Ans: Add-on credit cards are issued under a primary credit card and all transactions are directed to a single account for the payment of dues. It is useful for students who are living away from their parents and also for those who cannot have a card of their own.

Mostly, the credit limit on an add-on card is the same as that of the primary card, but according to certain bank conditions, the credit limit for supplementary cards is set lower than that of the primary card. If you have been issued more than one add-on card, the sub-limit decided will be distributed equally among the add-on cards to match the total limit of the primary card. This sub-limit will also apply to any ATM withdrawals. The terms and conditions related to add-on cards may vary from one bank to another.

The information about all the transactions that will be conducted is recorded on one primary account. So, if you hand over the additional card to someone else, you can also keep track of the withdrawals and transactions along with the exact dates. Rest all features & benefits of the add-on card will be same as that of the primary credit card.

Q: What is a premium credit card?

Ans: Premium credit cards offer extra benefits on lifestyle, travel, entertainment, dining, etc. and they also charge a substantial annual fee. International airport lounge access, concierge service, air accident insurance are some premium card features.

Q: What is  credit card balance transfer?

Ans: Some credit cards offer the facility of transferring outstanding balances from other cards, consolidate the debt and pay back in EMIs. Banks also offer low introductory offers to encourage users to transfer balances from other cards.

Q: Are co-branded credit cards available in India?

Ans: A number of banks have collaborated with different brands to offer co-branded credit cards in India. Air India SBI Signature Card, Axis Bank Vistara and Amazon Pay Credit Card by ICICI Bank are some co-branded credit cards in India.

Q: What are milestone benefits on credit cards?

Ans: Banks offer cardholders bonus rewards or shopping vouchers on reaching a particular spending limit within a specific period. This is termed as a milestone benefit.

Q: My Credit Report does not show information on my new credit card. Why?

Ans: Usually, it takes up to three months for a new loan or credit card to reflect on your credit report. If it does not reflect even after three months, you should contact either your bank or the credit bureau.

Q: What is a lost card liability cover?

Ans: This is a zero liability benefit offered on most of the cards under which the card user will not be liable to pay any amount against the expenses occurred during the period between card loss and the user informing the bank. Some banks also offer credit card protection plan that offers additional security cover to your credit card in case of card loss or theft.

Q: Do credit cards come with specific cash withdrawal limits?

Ans: Yes. The cash withdrawal/advance limit on your card is pre-set and communicated at the time of credit card approval.

Q: How to read a credit card statement?

Ans: The main components of a credit card statement are statement date, payment due date, total amount due and minimum amount due. These are mentioned usually at the start of the statement. The second part contains detailed information about transactions.

Q: How can I pay my credit card bill?

Ans: There are various ways to pay your bills such as net banking, mobile banking, bill desk, NEFT, cheque, etc. Alternately, you can also walk into the nearest bank branch and make an upfront payment over the counter. However, cash payment attracts a certain fee.

Q: What does credit limit mean?

Ans: The credit limit is the total amount sanctioned by the bank on your credit card. This is the maximum amount you can use on your card. The bank decides the credit limit on the basis of your credit score, income and maximum limit on your existing credit cards. You can request a limit enhancement after a few years of usage but the approval of it will be at the bank’s discretion.

Q: What is the difference between a credit card and a debit card?

Ans: The basic difference between a credit card and a debit card is that debit card is connected to your savings or current account whereas credit card is a type of loan taken from the bank. In case of a debit card, the amount is directly deducted from the connected savings/current account and there are no interest charges on its usage. However, in the case of a credit card, the amount is deducted from your credit limit.

Q: Do credit cards offer protection against fraud?

Ans: Credit cards are secured with chip and PIN, thus reducing the chances of fraud. Every time you make an online payment, you receive an OTP on the registered mobile number which you can use to authenticate the transaction. Most of the credit cards come with zero lost card liability cover which means if your card is lost or stolen and you inform the bank immediately, the card will be blocked. This way, the cardholder has limited liability in case of such fraud.

Q: What is credit utilization ratio?

Ans: This is the ratio of your card usage to the total credit limit on your credit card. For example, if the total credit limit is Rs. 1 Lakh and you have used Rs. 30,000 out of it; your credit utilization ratio will be 30%. You should always try to maintain the ideal credit utilization ratio of 30% on all your cards.

Q: How to transfer money from credit card to bank account?

Ans: Banks and NBFCs do not allow you to transfer money from your credit card to your bank account. Some mobile apps allow you to do this and charge a small percentage of the transferred amount as fee. However, it is not a recommended way to get access to cash.

Q: How to check credit card balance?

Ans: Credit card balance is the amount that you owe on your card. You can check the same on your monthly credit card statement or by logging into your credit card net banking account.

Q: How to increase credit card limit?

Ans: Options for getting a higher credit card limit are:

  • Make a request online (Many credit card issuers allow their cardholders to ask for a credit limit increase online)
  • Call your card issuer (Ask a customer service representative whether you're eligible for a higher credit limit)
  • Look for automatic increases (Some companies give cardholders an automatic credit limit increase when they’ve had the card for a while)
  • Apply for a new card

Q: What is minimum due in credit card?

Ans: The minimum amount due on your credit card is the minimum amount you need to pay on or before the due date. It is a small portion of the outstanding every month. The minimum amount due is usually 5% of the total outstanding balance on your credit card but can be higher if:

  • You bought something on EMI using your credit card
  • You spent more than your credit limit
  • You have not cleared off your previous month’s dues

Q: Why was my credit card application rejected?

Your credit card application may be rejected due to any of the following reasons:

  • Ineligibility due to low income
  • Poor credit history or no credit history
  • Blacklisted organization
  • Blacklisted residential or office location
  • Incorrect information on application form
  • Discrepancies in the Credit Report

ICICI Bank HPCL Super Credit Card- New Card launched by ICICI in partnership with HPCL- 22nd July 2021

HPCL and ICICI Bank have announced the launch of their new co-branded credit card named- ‘ICICI Bank HPCL Super Saver Credit Card’. Powered by Visa, the card is unique among the other fuel credit cards which typically offer benefits on one single category. With this card, the customers will get 5% cashback on fuel spends at HPCL retail outlets, which includes 4% cashback and 1% surcharge waiver. 5% PAYBACK rewards points will also be earned on spends on electricity and mobile as well as shopping at large departmental stores like BigBazaar and D-Mart. 2 PAYBACK points per Rs. 100 spent will also be given on other categories. Interested customers can apply for ICICI Bank HPCL Super Saver Credit Card via the bank’s internet banking platform or the mobile banking app (iMobile Pay).

RBI announces second loan moratorium for the borrowers- 6th May 2021

Keeping in view the difficulties faced by the individual borrowers during the second wave of coronavirus, RBI has asked the lenders to allow a second moratorium. All the eligible borrowers who did not opt for the moratorium offered last year can avail the second one and those who did opt for the same can get their moratorium period extended. All borrowers having aggregate exposure of up to Rs. 25 crore, and who have not availed restructuring under any of the earlier restructuring frameworks and who were classified as ‘Standard’ as of 31st March 2021, shall be eligible for Resolution Framework 2.0 as announced by RBI. To be eligible for the new moratorium, there should not be any default on loan repayment till March 31, 2021. RBI has given borrowers time till 30th September 2021, to ask their lenders for a loan moratorium.

Citibank to exit India consumer business; says existing customers will not be impacted- 22nd April 2021

India is among the 13 countries where Citibank has decided to exit from consumer banking. The bank is now looking for a buyer for its consumer book, including the credit card business. Citigroup’s global CEO confirmed that while these 13 markets have excellent businesses, Citi lacks the scale they need to compete. Citibank India serves 2.9 million retail customers with 1.2 million bank accounts and 2.2 million credit card accounts. The bank has confirmed that there will be no impact on the customers or the staff. The business will continue as usual till it finds a new buyer. Undoubtedly, this announcement has created a great opportunity for potential buyers in India. We can expect to see many large-scale issuers like SBI Card, ICICI Bank, Axis Bank as well as small issuers like RBL, IndusInd Bank, DBS Bank, IDFC First Bank, etc. in the race of buying the shares of Citibank India. 

IndusInd Bank launches its first metal credit card ‘Pioneer Heritage’ for affluent segment- 23 March 2021

IndusInd Bank has come up with its first metal credit card called ‘Pioneer Heritage’ in partnership with Mastercard. This contactless credit card is designed to meet the needs of the High-Net-Worth-Individuals (HNWIs), specifically the affluent Indian professionals and entrepreneurs. This card is also a part of Mastercard’s ‘World Elite’ platform that offers exclusive benefits to complement the lifestyle of HNI customers. It offers privileges across all popular categories like lifetime waiver of late payment charges, cash advance fee as well as over limit fee,  unlimited complimentary golf games, unlimited complimentary access to participating international and domestic airport lounges, 4 complimentary movie tickets per quarter as well as 20% discount on events on bookmyshow.com and more. All interested customers can apply for the card via IndusInd’s bank official website.

Axis Bank launches Aura Credit Card loaded with Health and Fitness Benefits- 21 January 2021

Axis Bank has introduced the Aura Credit Card that exclusively offers health and wellness benefits to the customers. The announcement came after witnessing the trend that individuals have increased their focus towards health more significantly after the coronavirus outbreak. Axis Bank has partnered with various brands to offer several health and wellness benefits for its users. These features will be powered by Poshvine and other specialists such as Decathlon, Practo, Fitternity, IndushealthPlus, 1MG etc., to offer a complete and unique health & wellness solution.

The best features of the card include 48 free Practo consultations (in a year), 15% discount on medicines via 1mg, Rs. 750 Decathlon voucher as welcome gift, free video consultation with doctors, free fitness sessions and more. Cardholders will also be able to earn reward points using the card (2 EDGE Reward Points per Rs.200 and 5X points on Insurance spends). Other additional benefits include 30% discount on nutritional foods, 1% fuel surcharge waiver, annual discount of Rs. 500 on health checkup via Poshvine, access to 16 recorded fitness sessions per month etc.

IDFC FIRST Bank launches Credit Cards with Dynamic Interest Rate- 15 January 2021

IDFC First Bank has entered the credit card market with its 4 card variants- First Classic, First Select, First Wealth and First Millennia. The bank will charge dynamic interest rates on its credit cards starting at 9% per annum for the best-rated customers and going up to 36% depending on the user profile. The cards will also allow users to make interest-free cash withdrawals. These are fresh initiatives for the Indian credit card market and the lender expects these to be the strong suit of their credit cards. Apart from their unique features, these lifetime-free credit cards offer accelerated reward points on online spends. Card membership is currently open only for existing customers of IDFC First Bank; it will be rolled out to others from April 2021.

YES Bank partners with Aditya Birla Wellness to launch Wellness-themed Credit Card- 14 January 2021

YES Bank has announced its partnership with Aditya Birla Wellness Private Limited to launch the ‘YES BANK Wellness’ and ‘YES BANK Wellness Plus’ Credit Cards that are aimed at the holistic health, self-care and wellness of consumers. While the users can get the YES Bank Wellness Credit Card at an annual fee of Rs.1,999, the Wellness Plus variant will be available at an annual fee of Rs.2,999. Users will get 20 reward points per Rs. 200 on Pharmacy spends with the Wellness variant and 30 reward points with the Wellness Plus variant. They will also be able to enjoy the exclusive health benefits by simply registering on the Aditya Birla Multiply App.

IndusInd Bank launches its First Metal Credit Card ‘Pioneer Heritage’ for Affluent Customers- 22nd December 2020

IndusInd Bank, in partnership with Mastercard, announced the launch of its first metal credit card- ‘Pioneer Heritage’ specially designed for the bank’s ultra-high net worth segment of customers. The card is a part of the Mastercard’s World Elite program that offers privileges to complement the lifestyle of HNI cardholders. The cardholders can avail unlimited complimentary international and domestic airport lounges.  In addition to that, it also offers 4 complimentary movie tickets every quarter and a flat 20% off on event tickets bookings via BookMyShow. 

SBI Card and BPCL jointly launch Credit Card offering Benefits to High Fuel Spenders- 16th December 2020

SBI Card on Tuesday announced the launch of ‘BPCL SBI Card Octane’ in association with Bharat Petroleum Corporation Ltd (BPCL). The card has been specifically made to offer maximum savings to the high fuel spenders. The BPCL SBI Card Octane offers 25X reward points on spends for BPCL fuel and MAK Lubricants, Bharat Gas (LPG) spends (website and app only) and BPCL’s ‘In & Out’ convenience store spends.  The card offers 7.25% value back (including 1 per cent surcharge waiver) on fuel and lubricant spends at BPCL fuel stations. Available at an annual fee of Rs.1,499, the card offers 6,000 bonus rewards as a welcome gift to the users.

YES Bank launches credit card for India’s Affluent and Ultra HNIs- 12th December 2020

YES Bank has recently launched YES Private Prime Credit Card- especially made for India’s affluent and ultra-high net worth individuals (HNIs). This multipurpose card will offer varied benefits to users across categories including travel, dining, entertainment, wellness etc. The credit card is available on the Mastercard World Elite platform and offers exclusive concierge services, features and benefits that uniquely satisfy the needs of affluent customers. The card will be given only by invite from the bank.

YES Bank Credit Card Reward Program becomes more Rewarding with New Features- 24th November 2020

YES Bank has made its reward program even more rewarding than before by introducing a variety of new features. The most exciting feature is the sharing of reward points. The customers can distribute their reward points with their family and friends who have YES Bank Credit Cards. The points can also be redeemed against the outstanding amount and can also be redeemed along with the balance payments. The users will also earn reward points when insurance premiums are paid using YES Bank Credit Cards. If flight bookings are made via YES Rewardz program, no convenience fee will be charged on the ticket. The bank will also offer accelerated reward points on major categories including Travel, Dining and Grocery.

MobiKwik joins Amex to launch virtual prepaid card- ‘MobiKwik Blue American Express Card'- 10th November 2020

MobiKwik, in collaboration with American Express, is all set to launch its first prepaid payment card with a flexible limit. The customers can get up to Rs.1 lakh instant credit on their prepaid card. The card is 100% free and comes with zero interest charges for shopping.  It offers Rs. 10,000 credit limit and the users can avail 1% MobiKwik SuperCash on card purchases and other American Express benefits.

SBI Card, in collaboration with Paytm, to launch Contactless Paytm SBI Credit Card- 4th November 2020

SBI Card has partnered with Paytm to launch contactless credit cards. The duo has announced to launch 2 variants under the name- Paytm SBI Card and Paytm SBI Card Select. Available on the Visa platform, both cards help users maximize their savings. The cards will offer rewards and savings on using them on Paytm app and other online and offline stores. Users will receive a cashback of 5% and 3% on Paytm SBI Card Select and Paytm SBI Card respectively on booking movie and travel tickets via the Paytm app as well as on shopping from Paytm Mall. Only select customers will have a chance to get ‘Early Access’ to the cards by taking part in the waitlist that went live on the Paytm App from 1st November 2020.

Delhi Metro SBI credit-cum-smart-card launched- 27th October 2020

The Delhi Metro Rail Corporation (DMRC) in association with SBI Card, on Friday, launched the ‘Delhi Metro-SBI Card’, a multipurpose credit card for the benefit of the Delhi Metro commuters. The card will let the customers use it as a smart card with auto top-up facility whenever the balance of the card goes below Rs.100. Interested customers can apply for the card at metro stations as well as online through the e-apply platform on the SBI Card portal.

Central Govt sets 5th Nov deadline for loan interest waiver credit- 26th October 2020

In view of the unprecedented situation created by the COVID-19 pandemic, the central government has set a November 5 deadline to credit the benefit of loan interest waiver in the borrower accounts. In an affidavit presented before the court, the government said that all the financial institutions have been asked to credit the difference between the compound and simple interest during the 6 month moratorium period (between March 01 to August 31) into the loan accounts latest by November 05, 2020.

American Express discontinues Zero Annual Fee Variant of American Express Gold Credit Card- 20th October 2020

American Express has decided to discontinue the zero annual fee variant of American Express Gold Credit Card. The users of the card will now have to pay an annual fee of Rs. 2,000 (plus applicable taxes) if they wish to continue using the card. The existing cardholders will have to inform the bank about their choice else the bank will automatically replace the card by a first-year free American Express SmartEarn credit card. For the SmartEarn variant, an annual fee of Rs. 495 + taxes will be charged from next year onwards.

RBI issues new guidelines for credit cards and debit cards- 1 October 2020

In a bid to make debit card and credit card usage more secure, RBI has announced some new guidelines that will be effective from 1st October 2020. These guidelines mainly focus on international, contactless and online transactions on cards. Below are the new measures:

  1. From 1st October 2020, all new/re-issued cards will be enabled only for ATMs and POS transactions. Cardholders will have to enable online, contactless and international transactions on their cards before making such transactions for the first time
  2. Customers will have to request their card providers to enable international transactions. Till now, international transaction was enabled by default on all cards
  3. Credit card issuers may now decide whether to disable the card not present (domestic and international) transactions, card present (international) transactions and contactless transaction rights based on the risk perceptions. This decision will be made for existing users only
  4. Online and contactless payments will be disabled on all cards that have never been used for the said purpose
  5. People can now opt-in or out of certain services, set spend limits for online, international and contactless transactions.
  6. Customers can switch on/off or change transaction limits via any channel which includes mobile application, internet banking, ATMs, Interactive Voice Response (IVR)
  7. Cardholders now have the option to enable or disable the contactless payment feature on their credit cards
  8. People can now set transaction limit on their credit card

SBI Card partners with American Express to offer a range of premium offers on select credit cards- 29 September 2020

Customers can now get SBI Card PRIME and SBI Card ELITE on American Express Global Payment Network. This will let them avail a range of benefits previously reserved for American Express cardholders only. These benefits are given on top of the regular features of the card. The benefits include complimentary domestic lounge access, hotel & dining offers, elite tier memberships and other retail offers. Cardholders will also get pre-ticketing access to events like Wimbledon and US Open.

At the moment the American Express Payment Network cards are being offered to residents of Mumbai and Delhi/NCR only. However, soon the card will be offered to the residents of other cities where American Express offers its cards.

SBI Card Restructures Dues and Offers Loan Options to Cardholders, Post Moratorium- 12 September 2020

Following Reserve Bank of India’s guidelines, SBI Card offers loan restructuring facility to its cardholders via the ‘Easy Pay’ option. This facility is provided only to the cardholders who availed the moratorium period. Customers who enrol in the scheme will find their interest lowered by 70% or more. Also, SBI Card has said that if the Supreme Court asks banks to provide interest relief for the moratorium period, then it will adjust the amount in subsequent payments.

Federal Bank will launch an independent credit card within a year- 16th Aug 2020

Federal Bank, which is currently offering credit cards in partnership with SBI Card, is going to launch independent credit card within a year. The bank has collaborated with Fiserv, a global provider of financial services technology, to support this card launch. The payment network for the cards (Visa, Mastercard or Rupay) will be announced in a month. Federal Bank has an existing customer base of our 1 Crore and will focus on extending its independent credit card offerings to them.

SBM Bank launches a co-branded RuPay credit card for small businesses- 23rd July 2020

State Bank of Mauritius, in association with EnKash and YAP fintech firms, has launched a corporate credit card on the Rupay Network. The card is called SBM EnKash RuPay Business Card. It provides unique benefits for corporates such as expense tracking, 30-day credit period on business purchases, bill payments, travel expenses, and so on. SMEs, MSMEs or startups can apply for this card digitally at any SBM Bank touch point.

RBI Rolls Out New Guidelines for Credit Cards- 15th Jan 2020

The Reserve Bank of India (RBI) has recently issued new guidelines for the issuance and re-issuance of credit cards and debit cards. The move is aimed at making card transactions more secure and enhancing user convenience. The rules will be applicable from 16th March 2020. The following provisions have been prescribed:

  • At the time of issuance/re-issuance, the cards will only be eligible for domestic transactions at ATMs and POS Terminals.
  • International, contactless and online transaction services will have to be set separately by the user in order to use such services.
  • Existing cardholders may choose to enable/disable international, contactless and card not present transaction rights on their cards.
  • Existing cards which have never been used for the said services shall be mandatorily disabled for the same.
  • Issuers will be given the facility to switch on/off or set/modify transaction limits on the cards (within the total assigned limit) for all types of transactions POS /ATM /Domestic /International /online /contactless.
  • Cardholders will have round-the-clock access to switch off/on or change transaction limits via mobile app/internet banking/ATMs/IVR.

OneCard to Launch Metal Credit Card in India- 9th Jan 2020

OneCard, in association with Visa, will soon be launching a credit card with a plan to disrupt the Indian credit card market. The card will come with a powerful mobile app which will let users control every aspect of their card including credit limit, rewards, international usage and more. On top of it all, the card has a metal base to lend it a premium look and feel.

SBI Card Launches Travel Credit Cards in Collaboration with Vistara Airlines- 26th Nov 2019

SBI Card has launched two new cards- Club Vistara SBI Card PRIME and Club Vistara SBI Card, in association with Vistara Airline. The cards will offer complimentary membership to Club Vistara, Premium Economy class flight tickets and many more travel benefits. Cardholders will also earn extra Club Vistara points on Vistara Airlines transactions which can later be used for booking flights with Vistara Airlines and other partner airlines. Speaking with a news website, Vistara’s CEO said that they wish to enhance the value proposition of Club Vistara from just a loyalty program to a comprehensive lifestyle program.

No more discounts on fuel stations for credit card users

The oil companies, Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd. have decided to roll back the 0.75% discount that was being offered to credit card users. The discount will not be given to customers from 1st October 2019. However, the discounts on debit cards and other digital modes of payment still stand and can be availed by users.

HDFC Bank in collaboration with Indian Oil Corporation launches a new credit card

HDFC Bank in association with Indian Oil Corporation has launched a new credit card on 25th September 2019. The card offers fuel surcharge waiver, up to Rs. 250 per statement cycle on transactions over Rs. 400. It also offers reward points in the form of Fuel Points. The fuel points can be redeemed against petrol or diesel. Customers can get up to 50 liters of fuel annually. The card can be used at any of the IOC petrol pumps.  

Freecharge launches ‘Digital Credit Card’ with Axis Bank- 28th August 2019

In a step to extend its reach to the millennials, Freecharge has launched a digital credit card with Axis Bank. This card is targeted at the youth who would be at the beginning of their career and are in need of credit. Customers will be able to get convenient and instant access to credit through this card.

JCB Launches Credit Cards in India in collaboration with NPCI- 19th August 2019

National Payment Corporation of India (NPCI) and JCB International have collaborated to launch credit cards in India. The RuPay JCB Global Credit Card will be issued by eight banks in India. The partnership between the companies was established back in 2015. In its first phase, Indian merchants were enabled to accept foreign JCB credit cards. And now in the second phase, it would enable Indian users to make payments in foreign countries using their RuPay JCB Global Credit Card. Users will also be able to enjoy a special cashback program when they make payments at selected destinations.

Credit Card Usage in India Grows 27% Owing to the Digital Push- 8th Aug 2019

India, which was primarily a debit card market, is gradually shifting its focus towards digital payments and credit cards. As per recent data published by RBI, credit card usage in India has grown by 27%. The number of credit cards in circulation has reached 48.9 million in May 2019 as opposed to 38.6 million in May 2018. The total transaction value on credit cards has gone up from 4.6 Lakh Crore in 2017-18 to 6 Lakh Crore in 2018-19. This paves the way for growth in digital payments as well as the number of retail borrowers in the economy.

SBI Card launches a new credit card in collaboration with Ola- 15th May 2019

Ola Cabs and SBI card have joined hands to launch Ola Money SBI Card. Powered by Visa, the credit card will bring further convenience to Ola users. This card is available at zero joining fee and would offer cashback instantly into the customer’s Ola Money Account. Moreover, users will be able to view, apply, and manage their credit card directly from the Ola app.

Paytm launches a credit card in association with Citibank- 15th May 2019

The Indian e-commerce giant Paytm, in collaboration with Citibank, has launched the Paytm First Card. The card will offer minimum 1% universal cash back on all transactions that will automatically be credited to user’s account every month. The annual fee of this card is Rs. 500 which will be waived if users spend Rs. 50,000 in a year.

ICICI Bank in association with Goibibo launches a multi-currency credit card- 13th May 2019

ICICI Bank has launched a multi-currency credit card in association with Goibibo travel portal. The card allows user to instantly transfer money from one currency to another. Users can use up to 15 currencies simultaneously with this card. Along with welcome benefits of up to Rs. 20,000 users also get 15% discount at over 100 restaurants across 6 foreign cities. Cardholders also get insurance between Rs. 2 lakh and Rs. 10 lakh.

ICICI Bank Launches Emeralde- a Super-Premium Credit Card- 28th Feb 2019

ICICI Bank is counted among the largest credit card providers in India. The bank has recently launched ICICI Bank Emeralde Credit Card- a super-premium card targeted at people who have a monthly salary of ₹ 3 Lakh and above. The card offers unlimited complimentary international and domestic lounge access and exclusive discounts at VLCC, Kaya Skin Clinic, Gold’s Gym, Richfeel and True Fitt n Hill. The rewards are offered in collaboration with PAYBACK. Lowest foreign currency markup fee of 1.5% makes it a great card for international travels. The Emeralde Card is offered in two variants- Mastercard and American Express.

Credit Card

Annual Fee

Best Suited For

Rewards / Cashback / Air Miles

Lounge Access in a year

Axis Bank Ace Credit Card

Rs. 499

Cashback

Unlimited 5% cashback on bill payments, DTH, and mobile recharges via Google Pay

4 complimentary domestic lounge visits

Amazon Pay ICICI Bank Credit Card

Nil

Shopping 

5% cashback on Amazon spends Prime users and 3% for Non-Prime users

NA

HDFC Regalia Credit Card

Rs. 2,500

Shopping and Travel

4 reward points per Rs.150 on all retail spends

12 free visits within India

6 free visits outside India

BPCL SBI Card Octane

Rs. 1,499

Fuel Purchases and Rewards

25x reward points on fuel purchases at BPCL petrol pumps

4 complimentary visits to domestic VISA lounges in India

Citi PremierMiles Credit Card

Rs. 3,000

Travel and Air Miles

10 air miles on every Rs. 100 spent on airline transactions 

NA

HDFC Moneyback Credit Card

Rs. 500

Online Spends

4 points on every Rs.150 spent online

2 reward points on every Rs.150 spent

NA

SBI Card ELITE

Rs. 4,999

Travel and Shopping

5X Reward Points on Dining, Departmental stores and Grocery Spends

2 Reward Points per Rs. 100 on all other spends

8 free visits within India

6 free visits outside India

American Express Platinum Travel Credit Card

Rs. 5,000

Travel

1 Membership Reward Point for every Rs. 50 spent

4 complimentary visits across India

YES FIRST Exclusive Credit Card

Rs. 9,999

Rewards and Travel

12 reward points per Rs. 200 on making payment to tour and travel operators, domestic airlines or on dining (w.e.f 15/06/21)

12 free domestic visits (w.e.f 15/06/21) &

Unlimited access to international airport lounges

RBL Platinum Maxima Credit Card

Rs. 2,000

Travel and Movies

10 Reward Points for every Rs.100 on dining, entertainment, utility bill payments,fuel and international purchases

8 free domestic visits at all  major airports in India

*The above list is for illustrative purposes only. There are other features and benefits that can be found on the respective card pages. The above information is subject to periodic change.

 

4.1 / 5 (25634 Reviews)

Credit Card

American Express Credit Card
5/5

EXCELLENT

Membership rewards card is the best card compared to any card of any other bank. I mean which bank gives you 1000 points by just making 4 transactions in 1 calender month ...? none amex roxx and the cx care is next level no other bank is even 10% of amex cx care ......without thinking twice just go for it


Posted on:Mar 9 , 2020
State Bank of India Credit Card
2/5

Very Basic Card

No extra rewards or benefits. Only basic features. Could have been better.


Posted on:Jan 13 , 2020
State Bank of India Credit Card
4/5

Liked it

SBI Simply Click is a good card for online shopping. I get a lot of rewards. Recommended!


Posted on:Jan 13 , 2020
American Express Credit Card
4/5

Low Annual Fee

The only credit card from American Express that comes with low Annual fee of Rs. 495 but offers amazing list of cashbacks and rewards that make it worth having


Posted on:Jan 3 , 2020
American Express Credit Card
5/5

A perfect travel card

My job keeps me on my toes with frequent travels, thanks for American Express Platinum Travel Credit Card I get to enjoy lounge access on the days when my flights are painfully delayed


Posted on:Jan 3 , 2020
American Express Credit Card
4/5

Good for rewards

Ever since i have got this card my spending have become rewarding with amazing rewards program that Amex membership rewards card offers.


Posted on:Jan 3 , 2020