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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.
Also Read: Best Rewards Credit Cards in India
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*This offer is valid for a limited period.
Annual Fee: Rs. 499
Axis Bank Ace Credit Card comes with a 2% flat-rate cashback implying that you can earn good value back on all your purchases. This card offers up to 5% cashback on bill payments, DTH, and mobile recharges done via Google Pay, and 4% cashback on specific merchants such as Swiggy, Zomato & Ola. All of these categories are quite practical for everyone. Also, there is no upper limit on the maximum cashback that can be earned which becomes a very good deal for those who spend across all these categories frequently. With a low annual fee, this is one of the best entry-level cards for high overall value back, especially for people who have just started their careers.
Check other Best Grocery Credit Cards in India
Annual Fee: Rs. 500
Read our review of Flipkart Axis Bank Credit Card
For similar cashback benefits on Amazon, you can consider Amazon Pay ICICI Credit Card. Click on the ‘Similar Card’ tab to learn more.
Flipkart Axis Bank Credit Card is one of the best co-branded credit cards in India. It is best suited for people who are active users of Flipkart, Myntra, and 2GUD, as it gives 5% cashback every time you shop on the given platforms. Besides, 4% cashback on other merchants like ClearTrip, PVR, Uber, and Cure.fit can also be availed. So, basically, this card covers the three very popular categories – shopping, travel, and lifestyle. Similar cards like Amazon Pay and Paytm SBI Card offer great benefits on their own respective platforms and some partner merchants. However, the partner merchants on Flipkart Card are among the most popular ones in their categories, making the card more practical. Hence, if you are someone who is seeking a credit card for discounts and offers on online shopping across multiple categories, this is the card for you.
Suggested Read: Best Credit Cards in India for Online Shopping
Annual Fee: Nil
HSBC Cashback Credit Card offers unlimited 1.5% cashback on online purchases and 1% cashback on all other purchases. Hence, the bigger your spendings, the bigger cashback you can fetch. This works very well for those who like to shop online but do not want to be limited to a particular website. Since the card rewards you for ‘online’ expenses, it covers almost all the popular categories such as travel, food, shopping, lifestyle, etc. as long as you pay for them online. 1% flat cashback on offline expenses is also a good deal but not a great one as other cards like Axis Ace and Flipkart Axis give you better rates at lower annual fee.
Monthly Fee: Rs. 49
Annual Fee: Rs. 1,000
HDFC Millenia offers lucrative cashback on not just one, but multiple categories say online shopping, travel, wallet loading, and other offline transactions. You will get 5% cashback on popular websites like Amazon and Flipkart. You will also get cashback on EMIs and wallet loading with this card, which is not so common among cashback credit cards. At an annual fee of Rs.1,000, the multi-faceted features that this card offers is a pretty good deal for cashback & discount seekers. The only drawback of this card is that cashback is offered only if you exceed a pre-set transaction amount on that particular category. For example, on making a transaction worth a minimum of Rs.2,000, you will get 5% cashback on Amazon and Flipkart. So, this card will be the perfect choice for those who usually make high-spending on the card.
Annual Fee: Rs. 750
Citi Cashback Credit Card is one of the oldest cashback credit cards in India designed to provide exclusive cashback on online as well as offline transactions. It offers 5% cashback on movie tickets, telephone and other utility payments and 0.5% cashback on all other spends. Having a low annual fee and no joining fee, CITI Cashback Credit Card is one of the most convenient options for individuals in the medium spending category. However, the basic rate of cashback stands too low at 0.5% when you compare it with newer cards like Axis Ace and Amazon Pay ICICI Card. You can get this card if you are specifically looking for a Citibank credit card otherwise there are other entry-level cashback cards that you can consider.
Read our review of Citibank Cashback Credit Card
*This offer is valid for a limited period.
Annual Fee: Rs. 2,999
SBI Card PRIME would find a better place in the list of best rewards credit cards in India.
Annual Fee: Rs. 999
Also Read: Best Entertainment Credit Cards in India
Standard Chartered Manhattan Platinum Credit Card thrives to offer everyday cashback and entertainment benefits to its users. This card is good for those 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. Additionally, up to 15% cashback on travel and 25% off on movie tickets can be availed with this card. The multi-faceted offers on movies, dining and travel indeed make this credit card worth the annual fee of Rs.999, as compared to other cards that come with fewer benefits. Though the card offers cashback on only one specific category, it still rewards you for other expenses which is good. However, for someone looking only for cashback across all categories, this card may not be the perfect choice.
Annual Fee: Rs. 749
Annual Fee: Rs. 750
Note: Issuance of Standard Chartered Super Value Titanium Credit Card is currently disabled.
Standard Chartered Super Value Titanium Credit Card is one of very few non-branded fuel credit cards in India. The card offers 5% cashback on fuel spent. At this fee range, the reward rate on the credit card is 1 Reward Point per Rs. 150 spent and it gives 5X reward points for overseas point-of-sale spend, which is satisfactory but the base rate could have been better. Like the Manhattan Card, this one also offers cashback on only one spending category i.e. fuel but still rewards other expenses. You should get this card if you want fuel benefits not limited to any particular brand.
Annual Fee: Rs. 499
Annual Fee: Rs.1,499
Paytm SBI Select Credit Card holds great value for Paytm users not only in the form of cashback across different categories but also in the form of Paytm First Membership. It offers instant cashback and more savings upon using the cards on Paytm Mall and other offline/online platforms. Users of Paytm SBI Select card can fetch up to 5% cashback exclusively for booking travel or movie tickets, the minimum cashback offered is 1% on all other transactions done on offline and/or online platforms. Though the card is also available in a regular variant, we would suggest the ‘Select’ variant (if you are eligible) as it gives higher cashback on Paytm purchases The base rate, however, is the same with both cards.
Read More About: Paytm SBI Card SELECT
Annual Fee: Rs. 499
Read more about Paytm SBI Card
Annual Fee: Rs.1,499 + Taxes
*T&C Apply
YES Prosperity Cashback Plus Credit Card offers 5% cashback on bills including rent payments, mobile recharge, telephone bill payment, gas and electricity bill payment via YES Bank’s PayNow service. Besides, there is 5% cashback on groceries. These two categories are quite sensible for a larger customer segment as utilities and groceries are non-discretionary expenses and getting such generous rewards for these categories is actually quite beneficial. .
Another card with similar benefits is Axis Ace and it comes with a higher universal cashback rate of 2%, thus beating YES Prosperity Cashback. However, if you are not eligible for Axis Bank Ace Credit Card but specifically looking for a card that rewards you for heavy utility bill payments every month, YES Prosperity Cashback can be a great alternative. Its cashback rate for utility bills and groceries is the same as Axis Ace (5%). The platforms, however, are different.
Read More About: YES Prosperity Cashback Plus Credit Card
Annual Fee: Rs. 999
*T&C Apply
Annual Fee: Rs. 499
Key Highlights:
While there are better cards in the cashback category with similar annual fee, Standard Chartered Smart Credit Card has the unique advantage of offering 2% flat cashback on all online transactions. Co-branded cashback cards focus on select brands whereas others offer lower flat rate cashback across online transactions. The Smart Credit Card from Standard Chartered Bank provides the right balance of both.
Annual Fee: Rs. 250
*Applicable on making the first transaction on the card within 30 days of card issuance.
Annual Fee: Rs. 999
Key Highlights:
SBI Cashback Credit Card offers the highest cashback rate on online spends in comparison to other cashback credit cards in the market, at 5%. Additionally, what makes this card stand out is that there are no merchant restrictions. Thereby, you earn cashback, irrespective of the website you spend on. This is unlikely since many cards offering high cashback usually restrict it to selected platforms. Also, the cashback redemption process with this card is comparatively easier, as the cashback is directly credited to the card account.
Annual Fee: Rs. 500
| Credit Card | Best Suited For | Key Feature |
| Axis Bank ACE Credit Card | Utilities and Food Orders | 5% cashback on bill pay and recharge via Google Pay |
| 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* |
| Standard Chartered Smart Credit Card | Online Shopping | 2% flat cashback on all online spends* |
| Paytm SBI Select Credit Card | Travel and Shopping | 5% cashback on Paytm Mall, Movies and Travel |
| YES Prosperity Cashback Plus Credit Card | Bill Payments | 5% cashback* on Movie ticket bookings |
| Cashback SBI Card | Online Shopping | 5% cashback on all online spends |
*Terms and Conditions Apply.
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.
The choice of best credit card for cashback 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.
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 them 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 a 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 credit 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 credit 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% cashback 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.
