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Credit cards offer benefits around various categories such as shopping, fuel, travel, cashback, rewards and more. Among these, the best credit card for you would be the one that matches your spending habits and gives you the highest value back on your favourite purchases. To help you compare credit cards and make the right choice, we have listed down the top 10 credit cards in India for 2022 along with their features and benefits.

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Updated: 26-09-2022 10:58:44 AM

Top Credit Cards in India for 2022

Top 10 Credit CardsAnnual Fee*Best Suited ForKey Feature#
Axis Bank Ace Credit CardRs. 499Cashback2% cashback across all transactions
SBI Card ELITERs. 4,999All-round BenefitsWelcome e-gift voucher worth Rs. 5,000
HDFC RegaliaRs. 2,500Travel & ShoppingComplimentary Priority Pass Memberships with 6 free international visits for primary and add-on member
Flipkart Axis Bank Credit CardRs. 500Online Shopping5% cashback on Flipkart and Myntra
Amazon Pay ICICI Credit CardNilOnline Shopping & Cashback5% cashback on Amazon purchases for Prime users
Citi PremierMilesRs. 3,000Air Miles10,000 Bonus Miles on spending Rs. 1,000 or more within 60 days of card issuance
HDFC MillenniaRs. 1,000Cashback5% Cashback# on Amazon, Flipkart, Myntra, Swiggy, Zomato, Tata CliQ, Sony LIV, BookMyShow, Cult.fit and Uber
Standard Chartered DigismartRs. 49 per monthOnline ShoppingFlat discount across multiple brands including Myntra, Grofers and Yatra
BPCL SBI Card OctaneRs. 1,499Fuel7.25% value back on your fuel expenses
HDFC Bank Diners Club PrivilegeRs. 2,500Travel and LifestyleComplimentary Annual memberships of Amazon Prime, MMT BLACK, Times Prime and more

*GST Extra
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These cards offer the best-in-class benefits across shopping, travel, cashback, etc., for consumers from different income levels and credit profiles. Please note that this list does not include super-premium credit cards that are usually “invite-only” cards and are offered to individuals with high income or net worth. If you want to see the best super-premium cards in India, click here.
Axis Bank Ace Credit Card
SBI Card Elite

Axis Bank Ace Credit Card

Best Suited For: Cashback
Card Rating: ★★★★ (4/5)

Axis Ace is the best credit card in India for cashback as it comes with the highest universal cashback rate of 2%. If you are not sure about the categories where you spend the most, a cashback card would be the right choice for you.

  • 5% cashback on bill payments and mobile recharges through Google Pay
  • 4% cashback on Swiggy, Zomato and Ola
  • 2% cashback on all other spends
  • No maximum limit on the cashback earned
  • 4 complimentary lounge visits every calendar year

Joining Fee: Rs. 499 (Reversed on spending Rs. 10,000 in the first 45 days)
Renewal Fee: Rs. 499 (Reversed on spending Rs. 2 Lakh or more in the preceding year)

Read Axis Ace Card Review
Check your Eligibility

SBI Card Elite

Best Suited For: All-round Benefits
Card Rating: ★★★★ (4/5)

Possibly one of the best premium credit cards, SBI Card Elite is a perfect companion to your elite lifestyle as it gives benefits across multiple categories including shopping, travel, movies, rewards and more.

  • Welcome e-gift voucher worth Rs. 5,000 from Yatra, Bata/Hush Puppies, Pantaloons, Shoppers Stop and Marks & Spencer
  • Free movie tickets worth Rs. 6,000 in a year in the form of Rs. 250 voucher per month
  • 10,000 bonus reward points on reaching annual spends of Rs. 3 Lakh and Rs. 4 Lakh
  • 5X reward points when using the credit card for grocery, dining and departmental store purchases
  • Complimentary Priority Pass Membership with 6 complimentary international airport lounge visits in a year and 2 complimentary domestic lounge visits

Annual Fee: Rs. 4,999 + GST
Renewal Fee: Rs. 4,999 + GST

Read SBI Card Elite Review
Check your Eligibility
HDFC Regalia Credit Card
Flipkart Axis Bank Credit Card
Amazon Pay ICICI Credit Card
Citi PremierMiles Credit Card
HDFC Millennia Credit Card
Standard Chartered Digismart Credit Card
BPCL SBI Card Octane
HDFC Bank Diners Club Privilege

HDFC Regalia Credit Card

Best Suited For: Travel and Shopping
Card Rating: ★★★★ (4/5)

If you are looking for a card that offers something for every category, HDFC Regalia is a good option. Offering benefits on travel and shopping, this is one of the best HDFC credit cards, especially if you are looking for all-round benefits.

  • 12 complimentary domestic airport lounge access every calendar year
  • Up to 6 international lounge access every year for self and add-on members under Priority Pass Membership
  • 4 Reward Points on every Rs. 150 spent on all retail spends including utility bills, insurance, education, rent, etc.
  • 10,000 Reward Points on spending Rs. 5 Lakh on the card and additional 5,000 points on reaching the milestone spends of Rs. 8 Lakh
  • Rewards redemption on flight and hotel booking, vouchers, gifts and products, etc.

Joining Fee: Rs. 2,500 + GST
Renewal Fee: Rs.  2,500 + GST (waived-off on spending Rs. 3 Lakh in the previous calendar year)

Read HDFC Regalia Card Review
Check your Eligibility

Flipkart Axis Bank Credit Card

Best Suited For: Online Shopping
Card Rating: ★★★★ (4/5)

Flipkart Axis Card is one of the best credit cards for online shopping. Apart from 5% cashback on Flipkart and Myntra, cardholders can also get 4% cashback on Swiggy, Uber, PVR and Cure.fit. The card also provides unlimited cashback of 1.5% on all other spends. If you shop often on the brands mentioned above, this card can be very beneficial for you.

  • Unlimited 5% cashback on Flipkart and Myntra
  • Unlimited 4% cashback on preferred merchants such as Swiggy, Uber, Cult.fit, PVR, Tata Sky, Cleartrip, 1mg, etc.
  • Unlimited 1.5% cashback on all other online and offline spends
  • Activation and joining benefits worth Rs. 1,100
  • 4 complimentary lounge access in India every year

Annual Fee: Rs. 500
Renewal Fee: Rs. 500 (waived off on spending Rs. 2 lakh in the preceding year)

Read Flipkart Axis Card Review
Find Similar Shopping Cards

Amazon Pay ICICI Credit Card

Best Suited For: Online Shopping and Cashback
Card Rating: ★★★★ (4/5)

When it comes to co-branded benefits, Amazon Pay ICICI Card is one of the best co-branded credit cards in India. If you shop at Amazon frequently, you can save big on all your Amazon spends in the form of cashback. Apart from Amazon purchases, you get cashback on other spends as well. The best thing about this card is that you get all these benefits free of cost as there is no joining fee or renewal fee on this card.

  • 5% cashback on all purchases at Amazon for Amazon Prime customers in addition to existing offers
  • 3% cashback on all purchases for non-prime customers
  • 2% cashback on purchases at Amazon partners and gift card purchases, recharges, bill payments, etc.
  • 1% cashback on all other purchases
  • No cost EMI on all purchases above Rs. 3,000 for 3 or 6 months

This card is not available on Paisabazaar.

Annual Fee: Nil
Renewal Fee: Nil

Read Amazon Pay ICICI Card Review
Check Eligibility for Other Cards

Citi PremierMiles Credit Card

Best Suited For: Air Miles
Card Rating: ★★★★ (4/5)

Those who don’t mind paying a considerable annual fee in exchange for exclusive travel benefits like air miles on every spend, lounge access, discounts and other travel deals can apply for Citi PremierMiles Card which is one of the top travel credit cards in India.

  • 10,000 Bonus Miles on spending Rs. 1,000 or more within 60 days of card issuance
  • Additional 3,000 Miles on card renewal
  • 10 Miles for every Rs. 100 on transactions made with any airline in the world
  • 8 complimentary access to airport lounges in India
  • Transfer Miles to the Frequent Flyer Programs of different airline partners in 2:1 ratio

Annual Fee: Rs. 3,000 + GST
Renewal Fee: Rs. 3,000 + GST

Read Citi PremierMiles Card Review
Check your Eligibility

Not satisfied with the features of Citi PremierMiles Card? Look for other travel cards.

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HDFC Millennia Credit Card

Best Suited For: Cashback
Card Rating: ★★★ (3/5)

HDFC Millennia is a cashback card that offers cashback to cardholders on almost all transactions. This card has been designed keeping the spending pattern of millennials in mind who like to shop online often. Apart from cashback, cardholders can also avail the facility of complimentary lounge access.

  • 5% Cashback on Amazon, Flipkart, Myntra, Swiggy, Zomato, Tata CliQ, Sony LIV, BookMyShow, Cult.fit and Uber
  • 1% cashback on all other spends (except fuel)
  • Rs. 1,000 gift voucher on spending Rs. 1 lakh in a quarter
  • 8 complimentary lounge accesses every year limited to 2 visits every quarter
  • Welcome benefit of 1000 cashpoints on payment of the joining fee
  • 1 Cashpoint is equivalent to Rupee 1

Joining Fee: Rs. 1,000
Annual Fee: Rs. 1,000 (waived off on spending Rs. 1 Lakh in the preceding year)

Read HDFC Millennia Card Review
Check your Eligibility

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Standard Chartered Digismart Credit Card

Best Suited For: Discount on Online Shopping
Card Rating: ★★★(3.5/5)

If you are looking for a card that provides good offers on online shopping, grocery, travel and dining, then Standard Chartered Digismart can be your top pick. It is more beneficial for those who make purchases on Myntra, Ola, Grofers, Yatra, Zomato and Inox.

  • 20% off at Myntra once every month with no minimum spends up to Rs. 700
  • 10% off on Grofers five times every month up to Rs. 1,000
  • 10% discount up to Rs. 150 on every transaction on Zomato five times every month
  • 20% off on domestic flights up to Rs. 750 at Yatra once every quarter
  • 15% cashback every month up to Rs. 600 on Ola cabs
  • Free movie ticket at INOX movies

Fee: Rs. 49 p.m. (waived off on spending Rs. 5,000 in the preceding month)

Read Standard Chartered Card Review
Check your Eligibility

BPCL SBI Card Octane

Best Suited For: Fuel
Card Rating: ★★★★ (4/5)

If you wish to compare credit cards that offer fuel benefits, you should start with SBI BPCL Octane Card. Possibly one of the best fuel credit cards in India, this SBI Credit Card rewards its users in the form of 25X rewards on refuelling at BPCL petrol pumps. If you prefer BPCL over other fuel brands, you will be able to earn good value-back with this card.

  • 6,000 bonus reward points (Rs. 1,500) as joining fee
  • 25 reward points per Rs. 100 at BPCL petrol pumps
  • 10 reward points per Rs. 100 on dining, grocery, movies and departmental store spends
  • 4 complimentary visits per calendar year to domestic VISA lounges
  • Rs. 2,000 voucher on spending Rs. 3 Lakh

This card is not available on Paisabazaar.

Joining Fee:  Rs. 1,499
Renewal Fee: Rs. 1,499

Read SBI BPCL Octane Card Details
Check Eligibility for Other Cards

HDFC Bank Diners Club Privilege

Best Suited For: Travel and Lifestyle
Card Rating: ★★★★ (4/5)

HDFC Diners Club Privilege is one of the best all-rounder cards that provide benefits across shopping, travel, rewards, golf and premium lifestyle. In addition to these privileges, cardholders are also entitled to various subscriptions along with monthly milestone benefits, making it a great option for millennials.

  • Amazon Prime, Zomato Pro, MMT Black, Times Prime Smart and Big Basket Star membership on spending Rs. 75,000 within 90 days of card issuance
  • 12 airport lounge access at 1000+ lounges worldwide
  • 2 complimentary golf games per quarter (both domestic and international)
  • Low foreign currency conversion fee of 1.99%
  • Complimentary renewal of annual membership benefits on spending Rs. 5 Lakh in a year
  • 1% fuel convenience fee waiver at all petrol pumps in India

This card is not available on Paisabazaar.

Joining Fee: Rs. 2,500
Annual Fee: Rs. 2,500 (waived off on spending Rs. 3 Lakh in the preceding year)

Read HDFC Bank Diners Club Privilege Review
Check Eligibility for Other Cards

More about Credit Cards

What is a Credit Card and How does it Work?
Benefits of a Credit Card
Credit Card vs. Debit Card
Top Credit Card Issuers in India
How to Choose the Right Credit Card for you?
Eligibility Criteria for Credit Cards
Compare and Apply for Credit Card through Paisabazaar
Credit Card FAQs
Credit Card News

What is a Credit Card and How does it Work?

Credit card allows cardholders to borrow funds up to a predefined credit limit to pay for goods and services. It comes with a condition that the user pays back the borrowed sum by the bill due date or over time by converting it to EMIs, failure to do so results in high interest charges and penalties.

Most credit cards offer up to 50 days of interest-free period in the form of a 30-day billing cycle and around 20 days of grace period, at the end of which the bill due date falls. Note that interest-free period is not applicable in case of cash withdrawals and when you have unpaid balance on your card.

Read in Detail: How credit card billing cycle works

Credit Card vs. Debit Card

Though credit card and debit card may look the same, the way they function is completely different. The table below shows some of the key differences between debit cards and credit cards.

ParticularsCredit CardDebit Card
Availability of FundsBorrowing from the credit line assigned to youAmount deducted from your savings or current account
Spending LimitsYou can spend within your pre-fixed credit limitYou can spend only up to the balance available in your savings or current account
Key BenefitShort-term loan as per your credibilitySaves you from debt trap as you can spend only up to the funds available in your account
Important Fee & ChargesJoining fee, annual fee, late payment fee, interest charges, etc.Cash withdrawal fee, annual fee (in some cases), etc.
InterestInterest charged in case of non-payment of the total amount dueNo interest charges are applicable
Rewards and cashbackExtensive rewards/cashback in comparison to debit cards (varied from card to card)Minor rewards and cashback benefits

Read in Detail: Credit Card vs. Debit Cards

How to Choose the Right Credit Card for you?

When you start your search for the right card, you will come across different types of credit cards offering various features and you will end up getting confused which card to pick for yourself. You should always look for a card that matches your spending habits. Broadly, there are 5 steps to choosing the best credit card for you, that include:

  • Know the purpose of getting a card

You must identify the need for you to get a credit card. Majorly, there are three reasons why people would need it- to build credit from scratch, to get a higher credit limit to be able to make bigger purchases and to avail offers across various spending categories. The right card for you would be the one that matches your need.

  • Understand your eligibility

Once you clearly know why you want a card, you should then understand your own credit profile and which cards you may be eligible for. For example, you may want a card that offers exciting travel benefits but your income may be low for the card. So, you must ensure that the card you apply for has good chances of approval. At Paisabazaar, you get card suggestions based on your credit profile and income. Click here to start the search for the right card.

  • Shortlist the Cards

Based on the credit card comparison and your eligibility, you can shortlist a few credit cards. This will narrow down your search for the right card. To shortlist, you can ask yourself some basic questions like whether you can afford its annual fee or whether it matches your core needs.

  • Pick one that offers the best value

From the shortlisted credit cards, pick one that offers you the highest value overall. Take a futuristic approach here. Ask yourself whether you would like to use this card 5 years down the line. See if the bank offers an option to upgrade to another card later.

  • Choose how to apply

You can either compare and apply for credit card through the bank’s website or through a third-party website. With the latter, you get the option of comparing the cards from different banks to find the best credit card for you and can also apply for credit card online.

Also Read: Which is the easiest credit card to get in India?

Eligibility Criteria for Credit Cards

Credit Card Eligibility Parameters

Mentioned above are the general parameters to apply for a credit card. The eligibility criteria differ not only from one issuer to another but also for different type of credit cards in India 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 is the minimum income requirement. Depending on the type of card, its benefits, and its annual fee, card providers have set the income eligibility criteria for each card they offer.

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 & Signature ProofPassport, PAN card, Driving License, Voter ID card, Aadhaar card, employee identity card in case of government employees (any 1)
Address ProofBank statement, Rent Agreement, Voter ID card, Ration card, Passport, Driving License, telephone/ electricity/ water/ Property tax (any 1)
Age ProofVoter ID card, Secondary School Certificate (class 10), birth certificate, Passport, Aadhaar Card, pension payment order or Receipt of LIC policy (any 1)
Income proofFor Salaried:

Latest 3 months’ salary slips, Salary account bank statement for six months

For Self-employed:

Latest IT Returns with computation of income and other certified financial documents along with business continuity proof

Note: If you have a pre-approved 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.

Credit Card FAQs

Which bank credit card is the best in India?

Some of the most popular banks offering credit cards in India are HDFC, SBI Card, ICICI, Amex, Axis, Citibank, Standard Chartered Bank and Kotak Mahindra Bank. However, the best credit card for you would be the one that matches your needs. To make your search easier, we have listed some of the best and most popular cards in India above. Go to credit card list.

What is a secured credit card?

A secured 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 is the best secured 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 as low as Rs. 2,000 and up to Rs. 60,000 and avail a credit limit up to 100% of the FD amount. Along with using the features of this card, the deposit will earn interest at the rate of 6.40%.

Can I convert my credit card purchases into EMIs?

Yes, you can convert your big-ticket purchases in easy EMIs as per the applicable EMI options available with your card. The interest rate on 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 card using your net banking/mobile app or call bank customer care for more information.

Do all credit cards in India charge high annual fee?

No. There are some credit cards with best offers in India that are either free for lifetime or charge a minimal annual fee. A few examples of best low annual fee credit cards include HDFC Moneyback, HSBC Platinum, ICICI Amazon Pay Credit Card and Citi Cashback Credit Card. You should compare credit cards based on how the benefits are aligned with the fee and charges, to make a right choice.

Which credit card in India has the best rewards program?

Almost all credit cards in India offer reward points with every purchase. But some credit cards offer higher reward points with certain purchases and they have multiple redemption options. Click to read about the best rewards credit cards in India.

What are Add-On credit cards?

Add-on credit cards are issued under a primary 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.

How to get a credit card in India?

You can get a credit card by either applying directly through the credit card issuer’s website or branch, or by applying for online third-party websites like Paisabazaar.com. Here, you can go for credit card online apply based on cards comparison and find suitable options as per your eligibility.

What is credit utilization ratio?

This is the ratio of your card usage to the total credit limit on your 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.

How to transfer money from credit card to bank account?

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.

Do credit cards charge interest for non-payment?

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 and compare credit cards in India based on interest rates charged by different lenders here.

What is foreign exchange mark-up fee?

Whenever you spend in currency other than Indian Rupee, almost every bank charges a foreign currency mark-up fee which ranges from 1.75% to 3.5% and varies from card to card. To know more about foreign exchange mark-up fees on credit cards, click here.

What is the interest on credit card cash withdrawal? Is it different from the cash withdrawal fee?

Credit Card cash withdrawal is considered to be one of the costliest forms of credit available in the market and is advised to be used only as the last resort. The interest charged on cash withdrawal ranges from 2.5% to 3.5% per month and 23% to 42% annually. Moreover, unlike regular transactions, for cash withdrawals, there’s no interest-free period; charges start accruing from the day of the transaction till it’s paid in full.

Yes, cash withdrawal interest is different from a cash withdrawal fee as this fee is charged every time a cardholder withdraws cash and it ranges from 2.5% to 3% of the transaction amount.

Can I convert my reward points to cash?

Yes, this facility is available on select cards. You can convert the accumulated points into statement credit in a pre-decided ratio. For instance, SBI Elite cardholders can convert their reward points into cash to pay their dues. For this card 4 reward points equal to Rs. 1.

What is the minimum due in a credit card?

The minimum amount due on your 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
  • You spent more than your credit limit
  • You have not cleared off your previous month’s dues

How can I pay my credit card bill?

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.

What happens if I don’t pay my credit card bill on time? 

In case you miss or forget to pay your bill, you will have to pay late payment fee and additional interest charges. Late payment fee is usually a fixed charge based on the total outstanding amount on your card and will only be charged once in a billing cycle, whereas interest (also known as finance charges) are calculated as a percentage of the total due for as long as your dues remain unpaid. Also, when you have an overdue balance on your card, the interest-free period becomes invalid. This means your new transactions will start incurring interest charges from the first day. Since credit card interest rates are the highest among all credit products, even a small overdue can lead to a debt spiral and cause damage to your credit score.

Credit Card News

Samsung launches co-branded credit cards with Axis Bank- 26th Sep 2022
Samsung has announced the launch of its cashback credit card in collaboration with Axis Bank. Available on the Visa Platform, the card will offer 10% cashback across Samsung products and services and EDGE Reward Points across other spending categories. It also offers accelerated reward earning on popular brands like Myntra, Tata 1MG, Urban Company and Zomato. Samsung is a leader in the smartphone and consumer electronics segment in India and now, with a co-branded credit card, it is going to offer better value to customers, especially Samsung loyalists. The card will be available in Signature and Infinite variants.
Rent payment via ICICI Bank Credit Cards to be charged with 1% fee- 20th Sept 2022
With effect from October 20, 2022, all rent payments with ICICI Bank credit cards will include a 1% charge. This will be applicable along with the convenience fee charged by third-party payment apps such as Cred, RedGiraffe, Mygate, Paytm, Magicbricks, etc, for rent payments. Probably, the fee has been imposed to limit the misuse of the free rent payment feature for credit rotation.
SBI Card introduces ‘Cashback SBI Card’ with 5% cashback on all online spends- 1st Sept 2022
SBI Card has launched a brand new cashback-focused credit card in the market named ‘Cashback SBI Card’, which will offer 5% cashback on all online spends. This is the first card in India offering such a high cashback rate without any merchant restrictions. The card also offers 1% cashback on all offline transactions including utility bill payments along with 4 complimentary airport lounge visits in a year. Though the card charges an annual fee of Rs. 999, it is free for the first year till March 2023 under a special offer. SBI Card offers a seamless, completely digital joining experience for the applicants.
ICICI Bank launches Coral Credit Card RuPay Variant- 29th Aug 2022
On Monday, 29th August 2022, ICICI Bank announced its collaboration with National Payments Corporations India (NPCI) to launch a range of RuPay credit cards. To start with, ICICI Bank announced the launch of its already active Coral Credit Card’s RuPay variant. The card offers reward points on utility bill payments, shopping, dining, etc. along with complimentary airport lounge access, railway lounge access, fuel surcharge waiver, and much more. On the RuPay network, you can also avail benefits such as air accident insurance coverage, concierge services, and much more. The bank will soon launch the RuPay Credit Cards for Rubyx and Sapphiro variants.
HDFC Bank Launches New Co-branded Credit Cards in Partnership with Tata Neu- 24th August 2022
HDFC Bank partners with Tata Neu, the Super App of the Tata Group, to launch a co-branded credit card named ‘Tata Neu HDFC Bank Credit Card’ on Wednesday, 24th August 2022. The card comes in two variants-Tata Neu Plus HDFC Bank Credit Card and Tata Neu Infinity HDFC Bank Credit Card and each of the variants will be available on both RuPay and Visa networks. Customers can apply for the credit card on the Tata Neu app. You can earn rewards on both online and in-store spends, in the form of NeuCoins (1 NeuCoin = Re 1). Customers will earn NeuCoins worth 2-5% of their purchases, depending on the card variant.
RuPay Credit Card-UPI Linkage likely to be Operational in Another Two Months, says NPCI CEO- 22nd July 2022
The linking of RuPay Credit Card with Unified Payments Interface(UPI) is likely to be operational in another two months, as per the recent announcement made by Dilip Asbe, the Managing Director and Chief Executive Officer on 22nd July 2022 in the recent event held in Mumbai. He mentioned that they will be in a position to submit the proposal to the Reserve Bank of India in the coming 10 months, and once approved, it will become operational. Asbe also talked about the objective of NPCI to go towards 250 million users and how it can start doing smaller credits. Moreover, now NPCI is looking for 50 million merchants who can start accepting the credit cards. NPCI is in talks with several banks and card issuers, such as BoB Cards, SBI Cards, Axis Bank, and Union Bank of India for the same.
IndusInd Bank in partnership with EazyDiner launches a co-branded Credit Card-21st July 2022
On Thursday, 21st July 2022, IndusInd Bank has launched a tailor made co-branded credit card with EasyDiner- named Eazy Diner IndusInd Bank Credit Card. The credit card offers complimentary EasyDiner Prime Membership offering a discount of up to 25% at select restaurants.Not only this, cardholders can also avail additional 25% discount up to Rs. 1,000 eveytime he/she will pay on the EasyDiner app through PayEasy. The card also provides the facility of instant rewards redemption whilst paying through the app.
Standard Chartered launches Co-branded Travel Credit Card with EaseMyTrip- 19th July 2022
EaseMyTrip, the second largest travel platform in India, and Standard Chartered Bank have together launched a co-branded travel credit card to provide exclusive travel benefits to card users. The card offers instant discounts on domestic and international travel, hotel, flight and bus bookings with the EaseMyTrip website or mobile app, along with extra reward earnings on flights and hotel bookings with standalone airlines, hotels or travel websites/apps. Cardholders can also avail promotional offers on EaseMyTrip several times in a year.
AU Small Finance Bank launches India’s First Customisable Credit Card- 22nd June 2022
AU Small Finance Bank has launched the first customizable credit card in the industry. It gives the cardholders the freedom to build the card their way by allowing them to choose the features they want for the time period they want. Users can even switch features on/off and have to pay only for the features that they select. Named the LIT (Live-It-Today) credit card, the card can be easily managed with the AU 0101 app.
RBI extends date for implementing certain provisions on credit, debit cards- 21st June 2022
In a notification issued by RBI on 21st June 2022, the deadline for implementing certain provisions on credit cards and debit cards has been extended from 1st July to 1st October. This extension has been allowed only on select provisions, as given below:

  • Card issuers will have to seek OTP from the cardholder before activating a card if the user has not activated it within 30 days of issuance. If no consent is granted by the user within 7 days of such request, the card issuer shall terminate the account without charging the user.
  • Card issuers must ensure that the card limit is not increased without the explicit consent of the cardholder.
  • The unpaid charges/taxes/levies shall not be capitalized for the purpose of charging or compounding interest on credit cards.

All the other compliances as mentioned in the Master Direction issued on 21st April 2022 will have to be implemented by the banks and NBFCs by 1st July 2022.

RBI Lifts ban on Mastercard; allows it to onboard new customers- 17th June 2022
On Thursday, 16th June 2022, the Reserve Bank of India lifted the restrictions on Mastercard and allowed it to add new customers to its network. The restriction was imposed in July 2021 for non-compliance with RBIs norms related to the storage of data on payment systems. But now that Mastercard has demonstrated satisfactory compliance, they can onboard new domestic customers with immediate effect. The ban on Discover was already lifted in Nov 2021 and now the restrictions only remain on American Express.
DBS Bank launches co-branded credit cards with Bajaj Finserv- 6th June 2022
DBS Bank India announced the launch of its first-ever credit card in India in partnership with Bajaj Finance co-branded as ‘Bajaj Finserv DBS Bank SuperCard’. The card is powered by Visa and is designed to de-clutter customers’ wallets, to eliminate the need for having multiple cards. It aims to provide a seamless customer experience by providing various benefits across categories such as lifestyle, travel, etc. It also offers exclusive Bajaj Finserv EMI network benefits like cashback on ‘No-cost-EMI’ loan down-payments & redemption of cash points against the same. Other benefits include a welcome bonus of up to 20,000 cash points, a subscription to various memberships like Disney Hotstar, and Zomato Pro via the DBS Card+ App, and up to 40% cashback in form of cash points, etc.
BoB Financial in Collaboration with HPCL has Launched Contactless Rupay Credit Card- 25th May 2022
BOB Financial Solutions Limited (BFSL) & Hindustan Petroleum Corporation Ltd. (HPCL) in partnership with National Payments Corporation of India (NPCI) recently announced the launch of HPCL BoB Co-branded Contactless RuPay Credit Card. This card aims to offer extraordinary services to its customers by making their journey faster, safer, and more rewarding. It comes with a contactless feature where all that the customer needs to do is ‘tap and pay’ at the PoS terminal. Not only this, customers can earn up to 24 reward points per Rs. 150 spent at HPCL fuel pumps and on the HP Pay app, a 1 % fuel surcharge waiver on fuel purchases at HPCL pumps or on HP Pay, and if you spend Rs. 5,000 or more within 60 days of card issuance will get 2,000 bonus reward points. Besides the fuel-centric benefits, customers can also avail 10 reward points per Rs. 150 spent) on utilities, grocery, and departmental stores and 2 reward points on other categories. The card also offers attractive discounts on movie ticket bookings. Cardholders will be entitled to 4 complimentary visits per year to domestic airport lounges.
RBI issues Master Directions for Credit Cards; Reforms in Favour of Consumers- 23rd April 2022
The Reserve Bank of India (RBI) has issued master directions related to credit and debit cards which will be effective from July 1st 2022. RBI has stated that the issuance of unsolicited cards/upgradation is strictly prohibited and if anything like this happens without the customer’s consent, the customers can raise a complaint to the RBI ombudsman and the card issuers will be liable to provide compensation for the same. The directions further state that card issuers will have to provide a one page Key Fact statement along with the application showing the important aspects of cards such as rate of interest, charges levied and more. Also, in case of a rejection of an application, the issuer is liable to convey the reason for the same in writing to the applicant. The new directions also make it important for card issuers to not share a user’s data to credit information companies unless the cardholder has activated the card using the one time password. All these new directions are focused on bringing more transparency to the card issuance and usage and helping customers stay wary of the frauds.
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