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Credit cards provide you with the ease of making purchases, even when you don’t have the funds, unlike a debit card. They also allow you an interest-free period, typically 15 to 50 days, to repay the dues and come with benefits like reward points, cashback, co-branded discounts, complimentary lounge access and more. Most credit cards come with benefits inclined towards one or more spending categories such as travel, shopping, fuel, etc. You can compare and apply for the top credit cards in India at Paisabazaar. Read on to know more.

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Updated: 29-09-2023 12:43:26 PM

To help you compare and choose the best-suited card, we have listed down the best 10 credit cards in India for 2023 along with their features and benefits. Through Paisabazaar, you can access detailed information around each credit card, compare them on multiple parameters like features, reward structure, fees etc. and also, apply for a credit card from our partner Banks.

Top Credit Cards for October 2023

Top 10 Credit Cards Annual Fee Best Suited For Key Feature#
Cashback SBI Card Rs. 999 Cashback across all categories 5% cashback on online transactions* without any merchant restriction
Axis Bank Magnus Credit Card Rs. 10,000 Travel & Rewards 12 Axis eDGE Reward Points on every Rs. 200; Unlimited lounge access
Axis Ace Credit Card Rs. 499 Cashback 2% cashback across all transactions
Standard Chartered Bank EaseMyTrip Credit Card Rs. 350 Travel Flat 20% instant discount on hotel booking and flat 10% instant discount on flight bookings at EaseMyTrip website/app
SBI Card ELITE Rs. 4,999 All-round Benefits Welcome e-gift voucher worth Rs. 5,000
BPCL SBI Card Octane Rs. 1,499 Fuel 7.25% value back on your fuel expenses
Flipkart Axis Bank Credit Card Rs. 500 Online Shopping 5% cashback on Flipkart and Myntra
HDFC Diners Club Privilege Rs. 2,500 Travel & Lifestyle Complimentary Annual memberships of Amazon Prime, MMT BLACK, Times Prime and more
Axis Vistara Signature Credit Card Rs. 3,000 Travel Complimentary Premium Economy Ticket as welcome benefit and Club Vistara Silver Membership
Amazon Pay ICICI Credit Card Nil Online Shopping 5% cashback on Amazon purchases for Prime users

*GST Extra | #T&C Apply

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. If you want such extraordinary benefits, you must check out the list of best super-premium cards in India.

Paisabazaar’s Featured Credit Card Partners
SBI Card ICICI Bank IndusInd Bank
Kotak Mahindra Bank American Express Axis Bank
RBL Bank Standard Chartered Bank HDFC Bank

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Cashback SBI Card
Axis Bank Magnus Credit Card
Axis Bank Ace Credit Card
Standard Chartered Bank EaseMyTrip Credit Card
SBI Card ELITE
BPCL SBI Card Octane
Flipkart Axis Bank Credit Card
HDFC Diners Club Privilege Credit Card
Axis Vistara Signature Credit Card
Amazon Pay ICICI Credit Card

Cashback SBI Card

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

Cashback SBI Card is a new addition to the list of best cashback credit cards in India. It offers flat 5% cashback on all online purchases without any merchant or category restrictions, which makes it a great option for those who wish to get considerable value-back on their online shopping.

  • 5% cashback across all online spends without any merchant restrictions
  • 1% cashback on all offline spends and utility bill payments
  • Cashback will be auto-credited to your card within 2 days of statement generation
  • 4 complimentary domestic lounge visits in a year

Joining Fee: Nil
Renewal Fee: Rs. 999 (Reversed on spending Rs. 2 Lakh or more in the preceding year)

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Axis Bank Magnus Credit Card

Best Suited For: Travel and Rewards
Card Rating: ★★★★  (4.5/5)

Axis Bank Magnus Credit Card is a super premium card, offered to high-income groups with an annual income of Rs. 18 Lakh or more. The card offers all-rounder benefits across multiple categories such as movies, and dining, but primarily focuses on rewards and travel. A high reward rate, multiple redemption options, and higher redemption value make it a good card for earning great value back.

  • Choice of welcome benefit: One complimentary economy class ticket (up to Rs. 10,000) across any domestic location OR TataCLiQ voucher worth Rs. 10,000
  • Unlimited complimentary international lounge visits with Priority Pass with 8 additional guest visits in a year
  • Unlimited visits to domestic airport lounges
  • 8 complimentary end-to-end VIP services at the airport
  • 12 Axis eDGE Reward Points on every Rs. 200 spent
  • 25,000 eDGE Reward Points on spending Rs. 1 lakh in a month
  • Buy one movie/event ticket on BookMyShow and get up to Rs. 500 off on the second ticket, capped at maximum of 5 tickets a month
  • Up to 40% discount at 4,000+ partner restaurants in India under the Dining Delights Program
  • Concierge service around health & wellness and travel

Joining Fee: Rs. 10,000+GST
Renewal Fee: Rs. 10,000+GST (Waived off on spending Rs. 15 Lakh or more in the preceding year)

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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)

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Standard Chartered Bank EaseMyTrip Credit Card

Best Suited For: Travel
Card Rating: ★★★  (3.5/5)

Standard Chartered EaseMyTrip Credit Card is a great option for frequent travellers as it gives significant discount on flights and hotel bookings made via EaseMyTrip website or mobile app. In addition to the discount, users can also earn extra rewards on travel bookings made via standalone airline or hotel websites.

  • 20% instant discount on domestic hotel booking (max. discount of Rs. 5,000) via EaseMyTrip
  • 20% instant discount on international hotel booking (max. discount of Rs. 10,000) via EaseMyTrip
  • 10% instant discount on booking domestic flights (max. discount of Rs. 1,000) via EaseMyTrip
  • 10% instant discount on booking international flights (max. discount of Rs. 5,000) via EaseMyTrip
  • 10 rewards points on every Rs. 100 spent at standalone airline/hotel websites, mobile applications or outlets, except any travel aggregators

Joining Fee: Rs. 350
Renewal Fee: Rs. 350 (Reversed on spending Rs. 50,000 or more in the preceding year)

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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

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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

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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)

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HDFC Diners Club Privilege Credit Card

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

Check: 10 Airport Lounge Access Credit Cards in India 2023

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)

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Axis Vistara Signature Credit Card

Best Suited For: Travel
Card Rating: ★★★★ (4/5)
Axis Bank Vistara Signature is a co-branded airline credit card offered by Axis Bank in collaboration with Vistara Airlines. As the card comes with numerous domestic travel benefits, it is a good option if you frequently travel within India. Additionally, the card also offers great rewards on all spends and purchases. Key benefits include:

  • Complimentary Premium Economy ticket as welcome benefit
  • Complimentary Club Vistara Membership each year on payment on joining/annual fee
  • 4 CV points on every Rs. 200 spent
  • Bonus CV points and up to 4 premium economy tickets on achieving milestone spends up to Rs. 9 Lakh
  • 25% off across partner restaurants in India
  • 2 complimentary lounge access per quarter at selected lounges in India
  • Complimentary 3 golf rounds at selected golf courses in India

This card is not available on Paisabazaar.

Joining Fee: Rs. 3,000
Annual Fee: Rs. 3,000

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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

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Top Picks for You

Best Cashback Credit Cards
CASHBACK		 Best Grocery Credit Cards
GROCERY		 Best Rewards Cedit Cards
REWARDS
Best Travel Credit Cards
TRAVEL		 Best Shopping Credit Cards
SHOPPING		 Best Premium Credit Cards
PREMIUM

 

More about Credit Cards
What is a Credit Card and How it Works? Credit Card vs. Debit Card
Benefits of a Credit Card How to Choose the Right Card?
General Eligibility & Documentation Requirement Check Eligibility for Top Card Offers
What is a Credit Card and How does it Work?
Credit Card vs. Debit Card
Benefits of a Credit Card
How to Choose the Right Credit Card for you?
Eligibility Criteria for Credit Cards
Credit Card FAQs
Credit Card Articles
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.

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.

Particulars Credit Card Debit Card
Availability of Funds Borrowing from the credit line assigned to you Amount deducted from your savings or current account
Spending Limits You can spend within your pre-fixed credit limit You can spend only up to the balance available in your savings or current account
Key Benefit Short-term loan as per your credibility Saves you from debt trap as you can spend only up to the funds available in your account
Important Fee & Charges Joining fee, annual fee, late payment fee, interest charges, etc. Cash withdrawal fee, annual fee (in some cases), etc.
Interest Interest charged in case of non-payment of the total amount due No interest charges are applicable
Rewards and cashback Extensive 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. To start the search for the right card click here .

  • 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.

Check for Pre-approved Credit Cards

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 Proof Passport, PAN card, Driving License, Voter ID card, Aadhaar card, employee identity card in case of government employees (any 1)
Address Proof Bank statement, Rent Agreement, Voter ID card, Ration card, Passport, Driving License, telephone/ electricity/ water/ Property tax (any 1)
Age Proof Voter ID card, Secondary School Certificate (class 10), birth certificate, Passport, Aadhaar Card, pension payment order or Receipt of LIC policy (any 1)
Income proof For 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.

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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.

Suggested: What happens when you default on credit cards payments?

Credit Card News

Yes Bank launches a co-branded corporate credit card with Zaggle– 24th Aug 2023
In an attempt to help businesses function better in managing payment processes and company expenditures, Yes Bank has launched a co-branded corporate credit card with Zaggle- a spend management platform. The card comes equipped with efficient features that can help a business set individual spending limits and apply merchant category restrictions among other diversified controls. On the other hand, cardholders can earn rewards on transactions, avail golf privileges, lounge access and travel insurance covers.
HDFC Bank to launch a co-branded credit card with Marriott India on Diners Club Platform– 24th Aug 2023
HDFC Bank, in collaboration with Marriott India, is set to launch a co-branded hotel credit card- Marriott Bonvoy HDFC Bank Diners Club International Credit Card. The card will offer benefits on Marriott hotel bookings and other hospitality privileges. At an annual fee of Rs. 3,000, the card will offer welcome benefits valued up to 15,000 Marriott points along with accelerated rewards on hotel, travel, dining and entertainment expenses. On reaching spending milestones, cardholders can also get up to 3 free night stays. Up to 12 international and domestic lounge access in a year and golf access are some additional privileges offered by this card. Besides, the HDFC Marriott cardholders will be conveyed the Silver Elite Status. The card will specifically target the needs of travelers who prefer staying at Marriott hotels worldwide.
Axis Bank Partners with Travel Portal Cleartrip to Offer Exclusive Travel Benefits via Credit Cards- 23rd Aug 2023
To add more to the privileges offered on Axis Bank Credit Cards, the bank has now partnered with popular travel portal, Cleartrip. As per this partnership, existing and new Axis Bank credit cardholders can get travel advantages like discount on domestic flight bookings, discount on seat bookings and option to cancel and reschedule flights for Rs. 1 under CT FlexMax. Besides, users will be able to avail exclusive travel offers directly, without requiring the accumulated reward points for redemption. This partnership will likely benefit those who are frequent travelers. Through the partnered features, users will be able to avail travel benefits, no matter what Axis credit cards they already own.
IndusInd Bank launches multi-brand airline credit card with Qatar Airways & British Airways- IndusInd Bank Avios Visa Infinite Credit Card– 17th Aug 2023
IndusInd Bank has launched IndusInd Bank Avios Visa Infinite Credit Card, a one-of-a-kind co-branded credit card with popular airlines, Qatar Airways & British Airways. The card is a premium metal card that offers privileges around travel and lifestyle.  To maximize benefits on the card, you can choose between your choice of preferred airline loyalty programme, between Qatar or British Airways. You can also select your choice of international destination, to earn accelerated reward points that are credited in the form of Avios points. Based on your choice of airlines, you can get varying welcome and renewal benefits. Besides, you get to avail a low forex markup fee of 1.5%, bonus Avios points as milestone benefit, concierge service, travel insurance, lounge access, etc.
SBI Card allows their Rupay Credit Cards to be linked to UPI- 10th Aug 2023
In a press release, SBI Card and National Payments Corporation of India (NPCI) have announced that SBI Credit Cards on Rupay Platform can now be linked to UPI. These cards can be used to make UPI transactions by registering them on UPI apps like Google Pay, Phone Pe, Paytm, etc. This offers cardholders the facility to make UPI transactions beyond the funds available in their savings/current accounts. Moreover, by using credit cards for more frequent transactions, consumers would be able to earn more rewards/cashback as well.
IDFC FIRST Bank launches a co-branded travel credit card with Vistara Airlines- 12th July 2023
IDFC FIRST Bank has launched a co-branded travel credit card, called Club Vistara IDFC FIRST Credit Card. The card will focus on offering travel and reward benefits such as complimentary lounge access, free flight tickets on achieving milestone benefits, international and domestic lounge access, and up to 10 CV points on every Rs. 200 spent. At a fee of Rs. 4,999, this card is a suitable choice for international travelers, as it features a lower forex markup fee of 2.99%, with card activation benefits such as free premium ticket voucher, class upgrade voucher and Club Vistara Silver membership.
Scapia Technology and Federal Bank Launch a Travel Credit Card- 16th June 2023
Newly launched, Scapia Credit Card is a travel card by Scapia Technology, launched in association with Federal Bank. With this card you can earn rewards in the form of Scapia coins on online and offline transactions. The card offers good travel benefits such as incremental rewards on travel bookings, zero forex markup, and complimentary lounge access. Also, by linking the card to the Scapia App, you can manage it online for application, on-boarding, bill payment, limit control etc.
RBI allows banks to issue Rupay Prepaid Forex Cards- 8th June 2023
In an announcement made by RBI Governor Shaktikanta Das, the Reserve Bank has allowed banks to issue Rupay Prepaid Forex Cards, which can be used to make payments in foreign currency at international PoS machines and online merchants overseas or to withdraw cash from an international ATM. Moreover, banks will be allowed to issue forex, credit and debit cards in foreign jurisdictions and such cards can be used to make payments in foreign currencies as well as in India. This is a significant step towards establishing Rupay as a global payment method.
Kotak Mahindra Bank launches co-branded credit card with Myntra – 1st June, 2023
Kotak Mahindra Bank in partnership with Myntra, launched a co-branded credit card that offers an instant discount of 7.5% on all transactions at Myntra. Also, there is no minimum threshold to avail of this credit card. In addition to this, you can also avail of 5% cashback on your spends at partner merchants, complimentary PVR tickets, Myntra Insider membership and much more. At an annual fee of Rs. 500, this card will be highly suitable for Myntra loyalists.
DBS Bank launches Vantage Credit Card with zero markup for spends in Singapore – 31st May, 2023
DBS Bank has launched a super-premium credit card for high income individuals. DBS Vantage Credit Card is an invite-only card that comes with zero percent foreign exchange mark-up and exclusive deals at select merchants in Singapore. The card also offers unlimited lounge access, luxury hotel memberships, cashback on duty-free spends, 24×7 dedicated concierge services and much more. You can check the eligibility of this card by visiting the official website of DBS.
Axis Bank Enables Linking of RuPay Credit Cards to UPI Apps- 9th May 2023
Axis credit card users can now link their Axis Bank RuPay Credit Card to UPI apps for hassle-free card payments, via QR codes. This integration will offer Axis RuPay cardholders the flexibility to shop and purchase with larger funds at hand. Additionally, by linking the credit cards to UPI, users will be able to earn rewards on UPI purchases as well.
HDFC Bank Launches Regalia Gold Credit Card with Travel Benefits- 23th Mar 2023
HDFC Bank has launched Regalia Gold Credit Card with several travel offers. The card users will get welcome and milestone benefits in the form of vouchers for flights and leading brands, along with complimentary memberships of Club Vistara and MakeMyTrip. The card also offers 12 free airport lounge visits, along with the chance to earn accelerated reward points on popular brands, like Marks & Spencer, Nykaa, Myntra and Reliance Digital. This card comes as an upgraded variant of the existing HDFC Regalia credit card with more extensive features and benefits at the same card annual fee.
HDFC RuPay Credit Cards can now be used on UPI- 17th Feb, 2023
You can now use your HDFC RuPay Credit Cards on BHIM UPI and all other UPI-enabled apps. This feature will add more flexibility to credit card usage, and offer higher access to immediate funds. The Bank ensures that these credit card-UPI-enabled payments will be safe and secure for all digital transactions.
Revision in the Terms & Conditions of HDFC Rewards Program – 8th Dec 2022
With effect from 1 Jan 2023, HDFC has imposed a few restrictions on the redemption and earning of reward points on its credit cards. You can redeem a maximum of 1,50,000 reward points per month with HDFC Infinia. A few changes in the fee structure have also been implied by the bank. Click here to know in detail.
SBI Changes the Reward Points Rules for Online Spends – 8th Dec 2022
From 1 Jan 2023 onward, the accrual of 10X reward points on online spends at Amazon through the SimplyCLICK and SimplyCLICK Advantage SBI cards will be revised to 5X reward points. Also, from 6 Jan 2023 onward, the Cleartrip voucher issued to SimplyCLICK cardholders on achieving the spending milestone can only be redeemed on a single transaction and cannot be clubbed with any other offer/ voucher.
HDFC hikes charges for Rent Payments and Other Transactions – 8th Dec 2022
With effect from 1 Jan 2023, a fee of 1% of the total transaction amount will be levied on the rent payments from the second rental transactions made through third-party merchants. A dynamic and static markup fee of 1% will be charged for transactions conducted in Indian currency at an international location or with a merchant located in India but registered overseas.
SBI Card hikes charges on EMI and rent payments via credit cards-17th Oct 2022
With effect from November 15, SBI Card will charge higher charges on EMI transactions and rent payments. For EMI transactions, the revised processing fee will be Rs. 199, instead of Rs. 99 charged earlier, whereas, for rent payments, the charges will be Rs. 99 +18% GST.
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.
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.
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.
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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