Looking for the Best Credit Card in India?
Credit is one of the important factors that help you in getting rich. But the concept is quite complicated to understand so people tend to completely ignore it.
Now that you are reading this article it’s important that you pay attention to it. Establishing good credit is the foundation of getting rich.
The fact is that the most often out large purchase is made on credit and if you have good credit you can easily save tens of thousands of rupees on these acquisitions.
Credit has a much greater influence on your finance than saving a few rupees on daily items.
- 1 Why use a credit card?
- 2 Picking the right credit card
- 3 Best Credit Cards Category-wise 2020
- 4 Best Credit Cards in India 2020
- 5 HDFC Regalia Credit Card – The Luxury Credit Card
- 6 IndianOil Citi Platinum Card
- 7 Amazon Pay ICICI Bank Credit Card
- 8 SimplyCLICK SBI Credit Card
- 9 SBI Elite Credit Card
- 10 American Express Gold Card
- 11 Standard Chartered Platinum Rewards Card
- 12 Yatra SBI Credit Card
- 13 Jet Airways IndusInd Bank Voyage AMEX Credit Card
- 14 Kotak Royale Signature Credit Card
- 15 Axis Bank Buzz Credit Card
- 16 RBL Bank Platinum Maxima Credit Card
- 17 YES FIRST Preferred Credit Card
- 18 IndusInd Bank Iconia Credit Card
- 19 HSBC Visa Platinum Credit Card
- 20 Conclusion: Best Credit Cards India 2020
Why use a credit card?
Credit can be in various forms such as credit cards, loans, mortgage, overdraft, credit unions, etc. However, a credit card is the best way to enhance credit as it’s simple and quick.
Credit Card can be beneficial as well as harmful for your finances. It all depends on how well you understand and use it. Most people make mistakes while using their credit card and suffer because of that.
Advantages of Credit Cards
Credit Card is like a short-term interest-free loan if you pay your bill on time.
Also having a credit card helps you to track your spending. They come with excellent offers that help you earn reward points as well as complimentary extras.
One of the major highlights of using a credit card is fraud protection. You can easily request for a chargeback if you are unhappy with your purchase.
Disadvantages of Credit Cards
A credit card can also become your enemy if you remain negligent about it. Even if you miss your payment by a single day you will have to pay a huge amount of interest on the remaining amount plus late fee.
Another point to note is regarding hidden charges. The interest is not the only extra fees you pay. There is a penalty on exceeding your credit limit. Also if you withdraw cash from an ATM using your credit card, you need to pay a fee as well interest on the amount starts building up.
These points are not to discourage you from using credit cards. In fact, they help you realise the importance of being responsible and cautious while using credit cards.
Picking the right credit card
Whether this is your first time getting a credit card or you are thinking about getting a new credit card, you need to keep a few things in mind.
First of all, never ever apply for a credit card from the offers you get by email. Although Gmail does a good job of marking them as spam so you won’t ever see it but sometimes they might land up in your inbox. You should find out which credit card is best for you and choose accordingly.
Reward Points that you get when you spend using your credit card are important. Since you will be using the credit card for spending money, you bend to make sure that what you get in return is beneficial to you.
Best Credit Cards Category-wise 2020
Best Credit Cards For Fuel Purchases In India – IndianOil Citi Platinum Card
Best Credit Cards for Online Shopping in India – SBI Simply Click, Amazon Pay ICICI Bank Credit Card, Axis Buzz Credit Card, IndusInd Iconia Credit Card
Best Credit Cards for Airport Lounge Access – HDFC Regalia, Kotak Royale Signature
Best Credit Cards for Movie Tickets – Kotak PVR Credit Card, Standard Chartered Platinum Rewards
Best Credit Cards For Travel India – Amex Platinum Travel, Jet Airways American Express Platinum, SBI IRCTC Credit Card
Best Credit Cards for Students India – ICICI Instant Platinum, SBI Student Plus Advantage Credit Card
Best Credit Cards for Dining India – HDFC Regalia Card, Standard Chartered Platinum Rewards
Best Credit Cards for Grocery Shopping India – IndianOil Citi Platinum, SimplySAVE SBI Card
Best Credit Cards For Salaried People India – SBI Simply Save Card, HDFC Teachers Credit Card
Best Credit Cards for Cashback India – Citibank Cashback, HDFC Bank Moneyback
Best Credit Cards in India 2020
Below is the list of the best credit cards in India 2020 along with their benefits, fees, eligibility, and their points redemption details.
HDFC Regalia Credit Card – The Luxury Credit Card
Regalia means the emblems or insignia of royalty. So as the name suggests this credit card is a truly premier quality credit card in India.
You will be glad to know that HDFC Regalia is an EMV Chip Card which means that it has an embedded microchip in it which provides encryption, leading to enhanced security and fraud protection.
HDFC Regalia Credit Card Benefits
- Complimentary Airport Lounge Access by means of Priority Pass Membership
- Complimentary Club Vistara (airvistara.com) Silver Membership
- Receive 4 Reward Points for every Rs 150 spent
- Surcharge fee waiver of 1% on all fuel transactions (Max Rs 500 waiver per cycle)
- 15000 bonus points every year on spends of Rs 8 Lakh
- Special dining privileges providing up to 15% discount at top restaurants pan India.
HDFC Regalia Credit Card Eligibility
|Salaried||Age: 21-60 years, Monthly Income greater than Rs 1.2 lakh|
|Self Employed||Age: 21-65 years, Annual Income (as per ITR) greater than Rs 12 Lakhs|
HDFC Regalia Credit Card Fees & Charges
The First Year Membership Fee is Rs. 2500 plus Taxes as Applicable
The Renewal Membership Fee is Rs. 2500 plus Taxes as Applicable
You also get a welcome Bonus of 2500 Reward Points and renewal bonus of 2500 Reward Points (applicable only after the membership fee is effectuated and inapplicable when the fee is waived off)
If you spend Rs 3 lakh in 1 year, you can get the Renewal Fee waived for subsequent renewal year.
HDFC Regalia Credit Card Reward Points Redeem
You can use redeem your HDFC Regalia Credit Card Reward Points for the following:
– Travel bookings on hdfcbankregalia.com
– Impressive offerings from this exclusive rewards catalogue
– Convert Reward Points to get Air Miles of top airlines.
IndianOil Citi Platinum Card
This credit card surely deserves a spot in the list of best credit cards in India.
This credit card can definitely help you save a lot when it comes to refuelling. They claim that it can help you get 71 litres of free fuel per year. You can check out the detailed calculation here.
IndianOil Citi Platinum Card Benefits
- 4 Turbo Points on Rs 150 of buying fuel at authorized IOC Retail Outlets across India.
- 2 Turbo Points on Rs 150 at grocery and supermarkets.
- 1 Turbo Point on Rs 150 spent otherwise like Shopping, Dining etc.
- Full waiver of the fuel surcharge (1% of the bill amount) on fuel purchases
1 Turbo Point is equivalent to Rs 1 worth of fuel. The best part is that Turbo Points never lapse. You can redeem them immediately or accumulate them for something large later.
IndianOil Citi Platinum Card Fees
The annual fee on the card is nil if you spend over Rs 30,000 using your credit card in a year. If your annual spend is less than Rs 30,000, the annual fee is Rs 1,000.
IndianOil Citi Platinum Card Rewards Redemption
You can easily use your Turbo Points to get free fuel or redeem them readily in-store or online for exclusive products.
- Redeem for free fuel instantly at more than 200 IOC outlets across India.
- Convert your points to gift vouchers for products and services from brands.
- Pay with points at limited merchant outlets and online partners for items you purchase.
Amazon Pay ICICI Bank Credit Card
The Amazon Pay ICICI Bank Credit Card is just launched and currently, they are offering it to limited customers. You can check here to see if you are lucky enough to be eligible for it.
The best part of this credit card is that your earnings will be automatically converted to your Amazon Pay Balance on completion of each billing cycle of this credit card.
Additionally, there is neither a minimum redemption amount nor any fees on redemption of earnings.
Amazon Pay ICICI Bank Credit Card Benefits
- Amazon Prime subscribers gain 5% cashback on Amazon.in purchases.
- Non-prime users get 3% cashback on Amazon.in purchases
- For both prime and non-prime members, payment in the following categories: e-books, gift cards, load/reload of Amazon Pay balance, bill payments, mobile, and DTH recharges will earn 2% back. There will be no cash back for gold and EMI purchases on Amazon.in
- Earn 2% back on 100 plus merchants accepting Amazon Pay by using this card on Amazon Pay as the payment method
- Earn 1% back on all other payments except fuel purchases
- No limits on earnings for this credit card. Also, there is no expiry date for your earnings.
- Gain 1% fuel surcharge waiver for all fuel purchases.
Amazon Pay ICICI Bank Credit Card Fees
There is no joining fees or annual fees as this is a lifetime free credit card.
SimplyCLICK SBI Credit Card
This is one of the best credit card in India.
SBI has collaborated with the top e-commerce firms in India to help you get the best experience. However getting approval for this card is not so easy, you must have established an excellent credit score to get it.
SimplyCLICK SBI Card Benefits
- Get an Amazon.in gift voucher worth Rs 500 on joining
- Earn 10 times Reward Points on online spends with select partners viz – Amazon / Cleartrip / BookMyShow / Lenskart / UrbanClap / Foodpanda
- Earn 5 times rewards on all other online spends
- Get 1 reward point per Rs 100 spent anywhere else
- Receive a free cleartrip e-voucher worth Rs 2,000 on Rs 1 Lakh annual online spend
- Waiver of 1% fuel surcharge for every transaction between Rs 500 and Rs 3,000 (Max Rs 100 per statement cycle, per cc account)
- Withdraw cash from over 10 lakh MasterCard or Visa ATMs worldwide
SimplyCLICK SBI Credit Card Fees
There is a one-time fee of Rs 499 for the first year.
Second year onwards the renewal fee is Rs 499. This renewal fee will be reversed if the annual spend for the past year is greater than or equal to Rs 1 lakh.
SimplyCLICK SBI Card Points Redemption
You can redeem your reward points for merchandises and vouchers available in the SBI reward catalog.
SBI Elite Credit Card
SBI Elite Credit Card Benefits
- Get free e-Gift Voucher worth Rs. 5,000 on joining. You can pick from any of lifestyle and travel brands: Shoppers Stop, Yatra, Marks & Spencer, Hush Puppies/Bata, Pantaloons.
- Receive 2 free movie tickets per month
- Get 15000 bonus Reward Points for annual spends between Rs 5 lakhs and 8 lakhs.
- Get 5X Reward Points for spending on Dining, Grocery, Departmental stores
- Earn 2 Reward Points per Rs 100 spent on all other categories except fuel
- Enjoy 6 free Airport Lounge visits per annum, outside India
- Get 2 complimentary Airport Lounge visits per 3 months in India
- Club Vistara Silver membership, Trident Privilege Red Tier membership
SBI Elite Credit Card Fees
There is a one-time fee of Rs 4999 for the first year. Second year onwards the renewal fee is Rs 4999 per year.
SBI Elite Credit Card Points Redeem
Redeem your reward points for gift vouchers, electrical devices, accessories, lifestyle etc. using the Shop-and-Smile Rewards Program.
American Express Gold Card
The American Express Gold Card is an option that you must consider it is less costly than other Amex Cards but still gives you the chance of making full use of the highly rewarding Amex Membership Rewards.
American Express Gold Card Benefits
- Get 1000 Bonus Membership Rewards Points if you complete 6 transactions of Rs 1000 or higher each month on this American Express Gold Card
- Gain 5000 Membership Rewards Points after your renewal of the card after the first year
- Use your points to buy from the remarkable 18 & 24 Karat Gold Collection
- Exclusive instant MakeMyTrip discounts
- Receive 1 Member Reward Point per Rs 50 spent except for usage at Fuel, Utilities, Insurance, Cash Transactions
- Have access to valuable travel benefits under their premium hotel collection
- Fuel Convenience fee waiver on fueling up at Hindustan Petroleum outlets
American Express Gold Card Eligibility
You must be over 18 years of age and must have a good credit history and no payment defaults.
If you are self-employed then your company must have been trading for longer than 1 year.
American Express Gold Card Fees
The first year Fee is Rs 1000 plus taxes. After the first year, the annual fees is Rs 4500 plus taxes.
American Express Gold Card Points Redemption
You have the freedom to redeem your Points from over 500+ impressive redemption options which include top airlines, hotels, electronics. You can also get a statement credit, Amazon gift cards, Tanishq vouchers using your points.
Standard Chartered Platinum Rewards Card
You can get numerous discounts and reward points out of your spends with the Standard Chartered Platinum Rewards credit card.
Standard Chartered Platinum Rewards Card Benefits
You can check out the list of limited time special offers here.
- Get up to 10% cashback on Ola rides (max Rs 300 per month)
- Get Rs 1000 discount on domestic flight bookings done on the Yatra app
- Get up to Rs 2500 cash back on flight bookings done via Paytm.
- Get up to 25% discount on movie tickets and food at INOX.
- Get 15% discount at more than 850 restaurants pan India.
- Get 5 reward points per Rs 150 spent at fine-dining outlets
- Get 5 reward points per Rs 150 spent on fuel purchase
- Get 1 reward point per Rs 150 spent on other categories
Standard Chartered Platinum Rewards Card Eligibility
- Your age must be between 21 years and 65 years.
- You must have a stable monthly income.
- You must belong to credit cards sourcing cities of Standard Chartered Bank.
Standard Chartered Platinum Rewards Card Fees
The fees for the first year is Rs 250. You can also avail 100% single time cashback (up to Rs 500) on spends at Restaurants within the first 3 months of card approval.
The renewal fee for subsequent years is Rs 250. This is waived if you spend Rs 30,000 in the year using your SC Platinum Rewards Card.
Standard Chartered Platinum Rewards Card Redeem Points
The reward points can be redeemed easily at 360-degree rewards.
There are numerous incredible options such as home & family, dining, fashion, electronics, charity and even travel (holiday packages, air miles, travel related accessories & more)
Yatra SBI Credit Card
Yatra SBI Card Benefits
- You get complimentary Yatra (Yatra.com) Discount Vouchers that can fetch you a discount of Rs 8250 once you pay the joining fee.
These Vouchers include:
2 Domestic Air Ticket Vouchers worth Rs 500 each
2 International Air Ticket Vouchers worth Rs 1000 each
1 Hotel Bookings voucher worth Rs 750
1 Domestic Holiday package voucher worth Rs 1500
1 International Holiday package voucher worth Rs 3000
- Get Rs 1000 immediate Discount on Domestic Flight bookings. Transaction amount must be at least Rs 5000.
- Get Rs 4000 immediate Discount on International Flight bookings. Transaction amount must be at least Rs 40000.
- Flat 20% Discount on Domestic Hotel Bookings. Transaction amount must be at least Rs 5000 and the Maximum Discount per transaction is Rs 2000.
- Avail exciting Travel Benefits by using promo code ‘TRAVEL’ while booking.
- Receive 6X Reward Points per Rs 100 spent at Departmental stores, Dining, Entertainment, and International Spends
1 Reward point on every Rs 100 spent on regular spends
1 Reward Point is worth Rs 0.25.
- Complimentary Air Accidental Cover
- Fuel surcharge waiver (Maximum Rs 100 per month)
- Enjoy privileged access to the premium MasterCard Airport Lounges across India
Yatra SBI Credit Card Fees
The one-time Joining fee is Rs 499 + taxes as applicable. The annual fee for subsequent years is also Rs 499 + taxes as applicable and this is waived off if spends in the last year exceed Rs 90000).
Yatra SBI Credit Card Point Redeem
The Reward Points can be redeemed at Yatra.com to Book Hotels, Flights, and Holiday Packages.
Jet Airways IndusInd Bank Voyage AMEX Credit Card
Jet Airways IndusInd Bank Voyage AMEX Credit Card Benefits
- You can get One-way base fare waived off free ticket on domestic flight bookings using the code “JTINDS”
Kotak Royale Signature Credit Card
Royale Signature Credit Card will be the one suitable for you if your major spending areas are travel and lifestyle.
It offers you priority attend, Airport Lounge Access, Fuel Surcharge Waiver, Railway Surcharge Waiver etc. which you will definitely like.
Kotak Royale Signature Credit Card Benefits
- Complimentary access to Airport Lounges in India
- Earn up to 4X reward points on per Rs 150 spent on Hotels, Restaurants, Travel Agencies, Airlines, International Spends
- Earn 2X reward points on other categories
- Avail Fuel Surcharge Waiver (Max Rs 3500 per year)
- Railway Surcharge Waiver (Max Rs 500 per year)
Kotak Royale Signature Credit Card Eligibility
- You must be between 21 years to 65 years of age.
- Location – Mumbai, Pune, Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi NCR, Hyderabad, Kolkata,
- Your annual income must be over Rs 24 Lakhs
Kotak Royale Signature Credit Card Fees
There is no joining fee. The annual fees is Rs 999 and is waived off if your annual retail spend is over 1 lakh.
Kotak Royale Signature Credit Card Points Redemption
Kotak credit card reward points can be converted into currency at merchant outlets on shopping with your Kotak Credit Card.
Other redemption options are Cash, Airline tickets, Air Miles, Movie Tickets, Mobile Recharge, Branded Merchandise.
Axis Bank Buzz Credit Card
The Axis Bank Buzz Credit Card is amazing for online shopping and even better if you frequently shop from Flipkart.
Axis Bank Buzz Credit Card Benefits
- Grab Flipkart Gift Voucher worth Rs 1000 on making 3 purchases in the initial 45 days
- 10% immediate discount on online shopping from Flipkart from the 1st to 5th of every month
- 5% on-the-spot discount on online shopping from Flipkart from the 6th to 31st of every month
- Each Rs 200 spent fetches you 2 Axis eDGE reward points
- Get 3x Axis eDGE reward points on online shopping
- Get a minimum 15% discount on partner restaurants pan India
|Annual Spend on Flipkart||Flipkart Vouchers Worth|
|Rs 25000||Rs 500|
|Rs 50000||Rs 1000|
|Rs 1 lakh||Rs 2500|
|Overall Annual Spend||Flipkart Vouchers|
|Rs 1 lakh||Rs 1000|
|Rs 2 lakh||Rs 2000|
Axis Bank Buzz Credit Card Eligibility
To be eligible for Axis Bank Buzz Credit Card your age must be between 18 years and 70 years.
Axis Bank Buzz Credit Card Fees
The joining fees is Rs 750. The renewal fees is Rs 750 as well.
Axis eDGE Reward Points Redeem
Axis eDGE Reward Points can be redeemed at Edge Rewards Store. It has a wide range of categories to choose from including Instant Vouchers, Apple iPhone, Home & Decor, Fashion, Kids Travel etc.
RBL Bank Platinum Maxima Credit Card
RBL Bank Platinum Maxima Credit Card provides excellent offers and bonus points which can be quite useful. Since this is one of a premium credit card offered by RBL bank, the benefits you get are outstanding.
RBL Bank Platinum Maxima Credit Card Benefits
- Get 8000 Reward Points on joining
- Receive 2 Reward Points per Rs 100 spent on all your purchases
- Earn 5X (10 Reward Points) for each Rs 100 spent for entertainment, dining, utility bill payments, fuel, and international purchases
- Use your card for annual purchases greater than Rs 2 lakhs and get 10000 reward points
- Get extra 10000 Bonus Reward Points for annual spends greater than Rs 3.5 lakhs
- Get a complimentary movie ticket free up to Rs 200 each month on the purchase of two or more tickets at BookMyShow
- Get 2 complimentary domestic Airport Lounge visits per quarter
RBL Bank Platinum Maxima Credit Card Fees
The annual fees of RBL Bank Platinum Maxima Credit Card Rs 2000. The renewal fees from second year onwards is Rs 2000.
RBL Bank Platinum Maxima Points Redeem
Your earned Reward Points can be redeemed for air travel, hotel bookings, shopping vouchers, recharge and much more at www.rblrewards.com
YES FIRST Preferred Credit Card
With the YES First Preferred credit card you get exclusive privileges and rewards at your disposal.
YES FIRST Preferred Credit Card Benefits
- Receive 15000 Reward Points after your first transaction done within first 90 days
- Get Renewal Benefit of 10000 Reward Points per renewal
- Win 20000 Bonus Reward Points on annual spend above Rs 7.5 Lakhs
- 8 Reward Points on every Rs 100 Retail Spend
- 25% off on Movie Tickets bookings through BookMyShow
- Fuel surcharge waiver at all fuel stations in India for transactions between Rs 400 and Rs 5000
- Complimentary Priority Pass Membership
- Exercise waiver of 3 Green Fee at picked golf courses in India
- Experience one complimentary Golf Lesson monthly at select golf courses in India
YES FIRST Preferred Credit Card Eligibility
To apply for this credit card, your age must be between 21 years and 60 years. Both Salaried or Self Employed can apply.
Your net monthly salary must be over Rs 2 lakh per month or IT Return must be greater than Rs 24 Lakh.
YES FIRST Preferred Credit Card Fees
The Membership Fee for the first year is Rs 2500 plus Taxes as Applicable. The Renewal Membership Fee is Rs 2500 plus Taxes as Applicable.
YES FIRST Preferred Credit Card Points Redemption
You can redeem your accumulated reward points of YES FIRST Preferred Credit Card for flight booking, hotel booking, movie tickets, golf course booking, air miles and much more.
IndusInd Bank Iconia Credit Card
Do you want to indulge in a world of extravagance and live like a king? With the IndusInd Bank Iconia Credit Card, you can do just that. IndusInd Bank offers you exclusive privileges which no other lifestyle credit card can level.
IndusInd Bank Iconia Credit Card Benefits
- Get gift vouchers of most popular brands as a welcome bonus– MakeMyTrip, Aldo, William Penn, Armani, Titan, HUSH PUPPIES, Pantaloons, Hidesign, Woodland, United Colors of Benetton, Yatra, Satya Paul, CHARLES & KEITH.
- 1.5 and 2.5 Reward Points per Rs 100 spent on weekdays and weekends respectively
- Enjoy complimentary golf games and lessons
- Enjoy entree to over 600 lounges across the world with a complimentary Priority Pass
- Avail special waivers on lounge usage charges abroad.
- Enjoy 1% waiver on fuel surcharge at any fuel station across India.
- Concierge service team will provide you prompt and easy assistance on hotel reservations, flight bookings, Sports and Entertainment Booking or any other exclusive bookings.
IndusInd Bank Iconia Credit Card Fees
The joining fee is Rs 17999. This is a one-time fee as there is no renewal fee on IndusInd Bank Iconia Credit Card.
HSBC Visa Platinum Credit Card
The HSBC Visa Platinum Credit Card is completely free, thus it makes a good entry-level card. But as per the general feedback we have received their service and coverage in India is poor.
HSBC Visa Platinum Credit Card Benefits
- Get Cleartrip voucher worth Rs 2000 on your first transaction
- Get 10% cashback (max Rs 2500) for making at least 9 transactions worth Rs 10000 or more in the first 90 days
- 3X Rewards on all spends at dining, hotels and telecom categories for the first year
- 2 Reward points per every Rs 150 spent
- 5X Rewards on subsequent purchases made after surpassing spend amount of Rs 4 lakh in a year (max Rs 10 lakh)
- Movie ticket voucher worth Rs 500 on spending more than Rs 50,000 in a month. (max Rs 3000 per year)
- Attractive dining experiences with up to 15% discounts at over 1000 restaurants in major cities.
- Fuel Surcharge waiver at any fuel pump in India for transactions between ₹400 & ₹4000 (max Rs 250 per month)
HSBC Visa Platinum Credit Card Fees
There are no joining and annual fees.
Conclusion: Best Credit Cards India 2020
These are the best credit cards currently available in India. To make the right choice out of these credit cards depends on various factors such as your credit score, your existing credit cards, joining and annual fees, whether you need reward points or not and whether you will make use of the benefits offered or not.
If you want us to add any other credit cards to this list or you have any queries regarding any credit card, please feel free to comment below.
Disclaimer: The information in this article is considered to be accurate as of the date it was written. Please note that credit card offers change periodically. Thus, we cannot guarantee the accuracy of the information in this article. Fair efforts are made to maintain correct information. Check out the online credit card application for full terms and conditions on offers and rewards. Please verify all the terms and conditions of any credit card before you apply.