Cashback is the simplest form of benefit a credit card can offer. You spend money and you get real value back, instead of earning rewards and later redeeming them for cash, vouchers or other items. There are several cashback credit cards in India, most of them offering extra cashback on select spending categories. There is no single cashback card to match everyone’s needs so you should pick the right credit card based on how you spend your money.
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Best Cashback Credit Cards in India for 2020
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1. Flipkart Axis Bank Credit Card
Best cashback credit card with co-branded benefits
Annual Fee: Rs. 500
Minimum Income: Communicated at the time of application
KEY HIGHLIGHTS
- 5% cashback on Flipkart, Myntra and 2GUD
- 4% cashback on shopping with Preferred Merchants
- 1.5% cashback across all other categories
- 4 complimentary domestic lounge visits in a year
- 1% fuel surcharge waiver up to Rs. 500 per month
- Welcome benefits worth Rs. 3,300
WHY WE LIKE IT
The card is among the best co-branded credit cards in India. When talking about value back across most popular categories, the Flipkart Axis Bank Credit Card is close to perfect. You get 5% cashback on three popular shopping websites- Flipkart, Myntra and 2GUD and the other preferred merchant category offering 4% cashback covers travel (GoIbibo and MakeMyTrip), movies (PVR), dining (UberEats) and more.
SIMILAR CARD
Amazon Pay ICICI Bank Credit Card
Annual Fee: Nil
- 5% cashback on Amazon for Prime Customers
- 3% cashback on Amazon for Non-Prime Customers
- 2% cashback on 100+ partner merchants
- 1% cashback on all other transactions
2. HSBC Cashback Credit Card
Best cashback credit card for all online spends
Annual Fee: Rs. 750
Minimum Income: Rs. 4 Lakh per annum
KEY HIGHLIGHTS
- 5% cashback on all online spends (excluding transfer to online wallets)
- 1% on all other spends
- No maximum cap on cashback
- Cashback is also earned on Instant EMI as long it is used at listed merchant
- The cashback earned is credited back within 45 days of card statement date
- Up to 15% discount at partner restaurants
WHY WE LIKE IT
This card works very well for those who like to shop online but do not want to be limited to a particular website. 1.5% cashback across all online spends is a good deal. The card also offers 1% flat-rate cashback across all other purchases allowing you to get maximum benefit out of the program.
SIMILAR CARD
Standard Chartered DigiSmart Credit Card
Monthly Fee: Rs. 49
- 20% off on Myntra up to Rs. 700 per month
- 10% off on Grofers up to Rs. 1,000 per month
- 10% off on Zomato valid for 5 transactions of Rs. 150 each
- 15% cashback on Ola Cabs up to Rs. 600 per month
- Discount on travel and hotel booking on Yatra.com
- Buy One Get One offer on INOX Cinemas
3. HDFC Millennia Credit Card
Best cashback credit card with benefits across multiple categories
Annual Fee: Rs. 1,000
Minimum Income: Rs. 25,000 per month
KEY HIGHLIGHTS
- 5% cashback on Amazon and Flipkart
- 5% cashback on Flight & Hotel bookings on shopping via PayZapp and SmartBuy transactions
- 2.5% cashback on other online transactions of Rs. 2,000 or more
- 1% cashback on offline spends and wallet reloads
- Cashback will be earned in the form of Cash Points
- 8 free domestic lounge visits per year
WHY WE LIKE IT
HDFC Millennia Credit Card perfectly match the needs of the millennials as the cashback benefit has been spread across multiple categories including online shopping, travel, wallet reloading and even on offline transactions. This is a good mix of features and is difficult to be found in any other card in its price range.
SIMILAR CARD
Axis Bank Buzz Credit Card
Annual Fee: Rs. 750
- 10% instant discount on Flipkart from 1st to 5th of each month
- 5% instant discount on Flipkart from 6th to 31st of each month
- 2 Axis EDGE REWARD Points per Rs. 200
- 6 Axis EDGE REWARD Points per Rs. 200 spent on online shopping
- Flipkart Vouchers up to Rs. 2,500 as milestone benefit
- Minimum 15% discount at partner restaurants
4. Citi Cashback Credit Card
Best cashback credit card for movies and utilities
Annual Fee: Rs. 500
Minimum Income: Rs. 25,000 per month
KEY HIGHLIGHTS
- 5% cashback on movie tickets, telephone and other utility bill payments
- 0.5% cashback across all other categories
- 15% discount at partner restaurants of Citibank
- Convert high-ticket purchases into easy EMIs
WHY WE LIKE IT
There are very few credit cards that would give a 5% cashback on utility bill payments for an annual fee of only Rs. 500. The benefit is also easy to avail for many, as utility bills are a necessity more than a choice. Offers and discounts applicable to Citibank credit cards would also be applicable to the Citi Cashback Credit Card.
SIMILAR CARD
SBI Card PRIME
Annual Fee: Rs. 2,999
- 20 reward points per Rs. 100 for Utility Bill Payment through standing instruction
- 10 reward points per Rs. 100 on movies, dining, groceries and departmental store purchases
- Trident Privilege Red Tier Membership
- Club Vistara Silver Membership with 1 free lounge visit and 1 upgrade voucher
- Priority Pass Membership with 4 free visits to international lounges
SBI Card PRIME would find a better place in the list of best rewards credit cards in India.
5. Standard Chartered Manhattan Platinum Credit Card
Best cashback credit card for supermarket spends
Annual Fee: Rs. 999
Minimum Income: Rs. 90,000 per month
KEY HIGHLIGHTS
- 5% cashback when shopping at supermarkets
- 3X reward points for all other expenses
- 25% off on INOX movie tickets and food & beverages
- 10% cashback on Ola Cabs, up to 12% discount at Hotels.com and 20% off at Millennium Hotels
- BookMyShow vouchers worth Rs. 2,000 as activation benefit
WHY WE LIKE IT
This card is good for people who make big purchases at supermarkets, as there is no maximum cap on the amount of cashback. Other transactions are also rewarded with 3X points. Overall, the offers and discounts on Standard Chartered Credit Cards will also help the users a lot.
SIMILAR CARD
Kotak Essentia Platinum Credit Card
Annual Fee: Rs. 749
- 10 Saving Points per Rs. 100 on departmental and grocery transactions
- 1 Saving Point per Rs. 250 spent on other categories
- Redeem Saving Points for statement cash
- Get up to 6 PVR Tickets every 6 months
6. Standard Chartered Super Value Titanium Credit Card
Best cashback credit card for fuel and utilities
Annual Fee: Rs. 250
Minimum Income: Rs. 55,000 per month
KEY HIGHLIGHTS
- 5% cashback on fuel, phone and utility bills up to a maximum of Rs. 200 per month
- 1 reward point for every Rs. 150 spent
- 100% cashback, up to Rs.1,500 on the fuel spends in the first 90 days as welcome gift
- Renewal fee waiver on spending Rs. 90,000 in a year
WHY WE LIKE IT
There are only a few non-branded fuel credit cards in India which would offer such a benefit on fuel expenses. So is the case with utilities benefit. The card is best suited for those who would want to add on to their available credit limit while using the card only for the said categories.
SIMILAR CARD
SBI BPCL Credit Card
Annual Fee: Rs. 499
- 4.25% value back (13X reward points equivalent to 3.25% + 1% Fuel surcharge waiver) at BPCL Petrol Pumps
- 5X reward points on groceries, dining, movies and departmental store spend
- 5X reward points per Rs. 100 spent on standing instructions of utility bill payments
- 2,000 activation bonus reward points worth Rs. 500
7. Kotak Delight Platinum Credit Card
Best cashback credit card for dining and movies
Annual Fee: Rs. 299
Minimum Income: Communicated at the time of application
KEY HIGHLIGHTS
- 10% cashback on dining and movies on spending Rs. 10,000 or more in a month on categories other than these two
- Maximum monthly cashback is capped at Rs. 600 for each category
- 4 free PVR tickets or Rs. 750 cashback on spending Rs. 1.25 Lakh in 6 months
- Railway surcharge waiver of Rs. 500 annually
Best Cashback Credit Cards in India 2020- Summary
| Credit Card | Best Suited For | Key Feature |
| Flipkart Axis Bank Credit Card | Co-branded Benefits | 5% cashback on Flipkart, Myntra and 2GUD |
| HSBC Cashback Credit Card | Online Shopping | 5% cashback on all online spends* |
| HDFC Millennia Credit Card | Overall Cashback Benefit | 5% cashback on Amazon and Flipkart; 1% cashback on offline spends and wallet reloads |
| Citi Cashback Credit Card | Movies and Utilities | 5% cashback on movie tickets, telephone and other utility bill payments |
| Standard Chartered Manhattan Platinum Credit Card | Supermarket Spends | 5% cashback when shopping at supermarkets |
| Standard Chartered Super Value Titanium Credit Card | Fuel and Utilities | 5% cashback on fuel, phone and utility bills* |
| Kotak Delight Platinum Credit Card | Dining and Movies | 10% cashback on dining and movies* |
*Terms and Conditions Apply.
WHY WE LIKE IT
Kotak Delight Platinum Credit Card is best-suited to the needs of frequent diners as it offers cashback at each and every restaurant and café. Though there is a cap of Rs. 600 per month on each category, the reward rate is quite competitive.
SIMILAR CARD
RBL Bank Edition Classic Credit Card
Annual Fee: Rs. 500
- Complimentary Zomato Gold Membership for one year with automatic renewal
- 5 Edition Cash on every Rs. 100 spent on dining
- 5 Edition Cash on every Rs. 100 spent online and 1 Edition Cash on all other spends
- 1 Edition Cash = Re. 1
- Use Edition Cash directly through Zomato
You are FEW CLICKS AWAY from getting the RIGHT CARD
How we picked these cashback credit cards?
The main criterion for us has been the value back that each of these cards offer. We have also covered different spending categories from supermarket spends, fuel and groceries to those with comprehensive cashback benefits across multiple categories. Most of the cards in our list are from ‘low to moderate’ fee range and thus suited to the needs of many. You can read our reviews of the listed cards to get an unbiased opinion on each of them.
How to choose the right cashback credit card?
The choice of right cashback credit card depends on how you plan to use the card. Since credit card benefits are usually inclined towards one or two specific categories, understanding your need is very important while choosing any type of card. For example, if you plan to use the card mainly for groceries, the Standard Chartered Manhattan Platinum Credit Card would be good for you. However, if you wish to be rewarded for fuel expenses, their Super Value Titanium Credit Card would be better.
Once you have narrowed down your options, you should compare the cards on the basis of annual fee, cashback rate, bonus categories, etc.
FAQs
Which is better- cashback or rewards?
The idea behind cashback and rewards is the same- they are simply an incentive for using your card. While cashback is simple to understand and manage, reward points are a bit complicated because of the extra step of first accumulating them and then redeeming at a later stage. Some cards allow you to convert the reward points into cash but the rate may not be the same. At the same time, there are rewards credit cards that allow conversion into miles which could be better than cashback, especially if you travel often. So, you must make a choice depending on your needs.
Is a cashback credit card worth it?
Any credit card would be worth only if you manage to get benefits at least equivalent to the annual fee charged. Most cashback cards charge low annual fee so it is likely that you would be able to make the most of it even if you do not put every expense on the card. However, you should always pay your bills on time so that the extra charges do not eat into your benefits.
How to maximize cashback on your card?
The easiest way to maximize the benefits on your cashback credit card is to use it for the bonus category of expenses. For example, if your cashback credit card offers fuel benefits, you must put your fuel expenses on this card to make the most of it.
I already have a rewards credit card. Should I get a cashback card too?
You should consider getting a cashback credit card if your rewards card does not cover a particular spending category. Even if you are happy with your rewards credit card, getting a low or no annual fee cashback credit card does not hurt.
Is 2% cash back good?
Yes. This is because rewards may look like a lot but their actual value back is low. Mostly, the monetary value of 1 reward point ranges from Re. 0.25 to Re. 0.50. But when you get real and direct cashback, even 2% is better.
