while choosing the best credit card, there is nobody ‘size-fits-all’. you really want to identify your financial needs and narrow your choices by asking the right questions. thus, choosing from a restricted pool of options would be easier.
in India, the credit card user base in 2019 arrived at 47 million, and the market is anticipated to increase over 25% during 2020-2025. this is mostly because of the ‘purchase first and pay later’ mentality predominant in younger generations.
subsequently, it helps to choose a credit card that gives you the best perks based on your financial situation. it will presumably play a vital job in building your creditworthiness and in general financial health.
top 10 credit cards in India
1. HDFC’s Money Back credit card – best for beginners
on the off chance that you are new to the world of credit cards, HDFC’s Money Back credit card is the right pick for you. using this card is an extraordinary method for starting building your credit score while saving money. with its cashback benefits, you will save money for each penny you spend.
this is the carefully guarded secret; for each ₹150 spent, you will get 2 reward points and two times in the event that it’s online. you can then redeem these reward points as gifts or air miles from the exclusive rewards inventory. yet, recollect that you will require at least 2,500 points to be eligible to redeem it.
considerably seriously interesting that anybody with a month to month income of more than ₹15,000 each month can apply for this card, making it ideal for a youthful grown-up who has just started earning.
2. – HDFC Diners Club Dark card – best premium credit card
this credit card is the entire bundle for very good quality spenders with limitless worldwide lounge access and serious bonuses. the HDFC Diners Club Dark card has a credit cutoff of ₹4 lakhs, making it the ideal premium credit card.
it has been named as the best international credit card, and which is all well and good. it offers one of the lowest unfamiliar cash trade rates at 2.0%. additionally, you will approach six free golf games for every quarter.
what makes it stunningly better is that you will procure up to 3.33% on each retail consumption (barring fuel). furthermore, for each ₹150-transaction, you stand to get 5 reward points.
plus, you consequently approach adequate lifestyle and travel benefits alongside the reward points.
3. IndusInd Bank Pioneer Legacy card – best zero annual fee credit card
the IndusInd Bank Pioneer Legacy card has the highest reward rate among all lifetime free credit cards in India. you’ll have the option to pack a 1% rewards rate on the entirety of your work day expenditures (1 point for every ₹100 spent) and a far superior 2% toward the end of the week.
besides, as a feature of their anniversary bonus, you shall get 6,000 extra points on the off chance that you spend ₹6,00,000 soon. as a sign-up bonus, you will get exclusive gift vouchers for Oberoi Hotel groups and a Luxury gift card – one card for several indulgences.
4. SBI Card PRIME – best lifestyle credit card
named as the best credit for utility bill payments, SBI Card PRIME comes with a need pass for 4 free international and 8 free domestic airport lounge visits.
it comes with welcome e-gift vouchers worth ₹3,000. this can be used to purchase from the accompanying brands, similar to Pantaloons, Yatra, Bata/Hush Puppies, Shoppers Stop, and so on the annual fee is deferred off for cardholders with no less than ₹3 lakhs worth of expenses. this card is accessible in both MasterCard World and Visa Signature variants.
SBI Card PRIME is the most significant credit card in the market. for instance, the card earns a rewards pace of 5%, which is 20 points for each ₹100 spent, the highest rewards for utility bill payments in India. the main downside would be that the general spending rewards rate is 0.50%.
5. American Express Platinum Travel credit card – best credit card for travel
the American Express Platinum Travel credit card is the ideal pick for a frequent traveler. alongside free lounge access, this card offers extra travel gift vouchers.
everything revolves around receiving those milestone rewards. you will get a welcome gift of 10,000 rewards points, which is redeemable for the Flipkart voucher, or pay with points choice in Amex travel online worth ₹3,000. on top of that, you will get travel vouchers worth ₹4,500 by spending ₹1.9 lakhs in a year.
besides the fact that this card improves your general travel insight, yet it also comes with added benefits such as frequent discounts and offers at MakeMyTrip and other reclamation offers. additionally, you will get 1 reward point for each ₹50 spent. you can’t realistically beat this.
annual fee: first-year – ₹3,500 plus applicable taxes. second-year onwards – ₹5,000 plus applicable taxes.
6. Standard Chartered Digi Smart – best credit card for online shopping
the Standard Chartered Digi Smart credit card is intended for anybody who prefers online shopping. you can get up to 25% discount for travel, clothes, food, groceries, movie tickets, or cab rentals. with this credit card, you save up to ₹3,450 each month.
be that as it may, you can use this card for specific online platforms to profit of the discount offers. you get a 20% discount on Myntra for each purchase, 20% off domestic flights set up for Yatra, and 25% off on domestic hotel bookings.
besides, you will also get a 10% discount for online food orders on Zomato and shopping for food on Grofers. alongside a 15% discount on Ola cab bookings. the cherry on the top would be the get one get one (BOGO) offer on movie tickets at Inox.
7. SBI Student Plus Advantage credit card – best for students
college students hoping to deal with their expenses can consider the SBI Student Plus Advantage credit card. this is an exclusive card for customers who have taken an instructive advance with SBI. you can get your card against a fixed deposit, making it a secured credit card that doesn’t need an annual fee.
this credit card comes with added perks, such as a 2.5% cashback for each staple and departmental store purchases. you also get the same for your international expenses, which is all great assuming that you are studying abroad.
8. Kotak Mahindra Essentia Platinum card – best for shopping for food
a massive lump of our month to month expenses goes into shopping for food. according to a survey, shopping for food took almost 28% of the typical Indian’s whole financial plan.
the Kotak Mahindra Essentia Platinum credit card is your best cashback choice with regards to shopping for food. it is the top pick because you get 10% cashback on each staple or retail consumption. so, in the event that you spend no less than ₹1,500 on staple transactions, this card is your best choice.
aside from that, as a feature of their anniversary bonus, you can get 12,000 points assuming you spend ₹1.25 lakhs in 6 months, which really depends on 24,000 or 6 free PVR tickets in a year.
8. Kotak Mahindra Essentia Platinum card – best for shopping for food
a massive lump of our month to month expenses goes into shopping for food. according to a survey, shopping for food took almost 28% of the typical Indian’s whole financial plan.
the Kotak Mahindra Essentia Platinum credit card is your best cashback choice with regards to shopping for food. it is the top pick because you get 10% cashback on each staple or retail consumption. so, on the off chance that you spend no less than ₹1,500 on basic food item transactions, this card is your best choice.
aside from that, as a feature of their anniversary bonus, you can get 12,000 points in the event that you spend ₹1.25 lakhs in 6 months, which depends on 24,000 or 6 free PVR tickets in a year.
10. ICICI’s Business Advantage Dark card – best business credit card
ICICI’s Business Advantage Dark card is one of the most amazing business cards out there. this exclusive card aims to safely drive businesses. you stand to get up to 1% cashback on both domestic and international expenses. this card does everything, from air travels to car rentals to professional services, such as bookkeeping services, advertising, marketing, and so forth.
the feature of this card would be that the cashback is based on the general spending. and that means the higher the sum spent, the higher the cashback.
