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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. Credit cards also come with benefits like reward points, cashback, co-branded discounts, complimentary lounge access and more.

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Updated: 02-06-2023 10:36:26 AM

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 June 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
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
Axis Ace Credit Card Rs. 499 Cashback 2% cashback across all transactions
InterMiles HDFC Bank Signature Credit Card Rs. 2,500 Travel Up to 12 InterMiles per Rs. 150 spent on flight and hotel bookings
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.

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
Cashback SBI Card
Standard Chartered Bank EaseMyTrip Credit Card
Axis Bank Ace Credit Card
InterMiles HDFC Bank Signature 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)

Read Cashback SBI Card Review
Check your Eligibility

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)

Read SCB EaseMyTrip Card Review
Check your Eligibility

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

InterMiles HDFC Bank Signature Credit Card

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

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 InterMiles HDFC Bank Signature Credit Card which is one of the top travel credit cards in India.

  • Complimentary InterMiles Silver Membership
  • 8,000 bonus InterMiles as milestone benefit
  • Discount vouchers of Rs. 750 and Rs. 2,000 in the first year on booking return flight and hotel  ticket bookings respectively
  • Up to 12 InterMiles on every spend
  • Up to 10% off on Etihad Airways
  • Complimentary international & domestic lounge access
  • Up to 35% off on dining with complimentary Dineout membership

This card is not available on Paisabazaar.

Annual Fee: Rs. 2,500 + GST
Renewal Fee: Rs. 2,500 + GST

Read Citi PremierMiles 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

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 BPCL Octane 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
Check your Eligibility

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)

Read Diners Club Privilege Card Review
Check your Eligibility

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

Read Axis Vistara Credit Cards Review
Check your Eligibility

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 your Eligibility

More about Credit Cards


Credit Card Offer

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 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.

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

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.
Kotak Mahindra Bank launches co-branded credit card with Indian Oil- 12th March, 2023
Kotak Mahindra Bank has launched a fuel credit card in association with Indian Oil. Card users will get 4% value back as reward points when they use their card to refuel at Indian Oil Petrol Pumps. The card will also offer accelerated 2% earnings on dining, grocery and other select payments which allows cardholders to accumulate substantial rewards and redeem them to get free fuel. As Indian Oil is the largest fuel provider in India, it will also be easier for users to avail these benefits. Indian Oil has previously launched credit cards with Axis Bank and HDFC Bank and Kotak is the newest addition.
HDFC Bank Launches a co-branded Travel Credit Card with IRCTC – 2nd March, 2023
HDFC Bank in association with IRCTC has launched a new credit card – IRCTC HDFC Bank Credit Card. The card is available on the RuPay network and will offer rewards on railway travel bookings, along with welcome and milestone benefits, discounts, and access to domestic railway lounges. At an annual fee of Rs. 500, this card will be highly suitable for people who frequently travel within India.
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.
IndusInd Bank partnered with Qatar & British Airways for a Co-branded Credit Card – 6th Jan 2023
IndusInd Bank has collaborated with British Airways Executive Club and Qatar Airways Privilege Club to launch a co-branded credit card. The card will be launched in the first quarter of 2023-24 and will be available in the Visa Infinite variant. Credit cardholders can choose the loyalty program as per their convenience and earn rewards via this credit card.
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.
RBL Bank partners with BookMyShow to offer ‘Play Credit Card’- 12th Oct 2022
RBL Bank has announced the launch of ‘Play Credit Card’ in association with BookMyShow. Along with the basic benefits like renewal fees and fuel surcharge waivers, the card will offer exclusive discounts on the BookMyShow app/website, welcome benefits, monthly discounts, and offers on food & beverages.  At an annual fee of Rs. 500, this card is suitable for all BookMyShow loyalists, especially those who are BookMyShow Superstar members.
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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