TOP CREDIT CARDS IN INDIA
1. ICICI Bank Platinum
2. ICICI Amazon Pay
3. Money back by HDFC
Choosing the ideal credit card for you can be a tedious task. After all, there are so many of them available with almost similar features, which makes the selection task even more cumbersome. We have conveniently compiled a list for you by listing out the 20 best credit cards in India in 2019. Compare and contrast each one to find out your perfect match!
Top 20 Credit Cards in India 2019
1. ICICI Bank Platinum Credit Card
One can say that the platinum credit card of ICICI bank is the best for a beginner. It is because there are no complicated procedures or cumbersome forms to fill to attain this credit card. It claims to be an instant and free credit card. All you need to have is a fixed deposit account with the ICICI bank with a minimum amount of rupees 20,000 in it.
Don’t worry if you don’t have a fixed deposit account, as you can start one any time without much hassle. There are a lot of attractive features provided by the bank, such as Zero Annual Fee, low-interest rate, and international validity. The card allows the user to earn payback points for each purchase they make. These points can be redeemed from movie tickets, travel vouchers, lifestyle products, home appliances, and so on.
The interest rate of the card is as low as 2.49% per month. No additional interest is charged unless you do not use your credit card for making any payments. There is also an auto debt facility through which the bank can charge your credit card bills to your bank account.
2. ICICI Amazon Pay Credit Card
The ICICI bank has collaborated with Amazon Pay to bring forth this credit card. It is a lifetime free credit card that can be used for every transaction, whether online or offline. It can be used at various e-commerce websites such as Myntra, Flipkart, Snapdeal, and so on.
And not just that, one can use it on international websites such as AliExpress, Bnagood and so on also. After every purchase, the cardholder receives an Amazon Pay Balance. It is received for every transaction worth Rs.100. The card can be used to avail No Cost EMI benefits with a duration of 24 months.
Fuel charge waiver of 1% on surcharges is also available. The reward points once received will not expire. So the user can redeem them according to their liking. Apart from any other credit card listed here, there is no additional maintenance fee or annual fee that has to be paid throughout the life span of the credit card.
You cannot apply for the card from the ICICI bank branches. It can be applied only from the Amazon India website. Having an ICICI bank account will boosts the speed of processing your card. Applicants can visit their official websites to gain more insights on the eligibility.
3. Money Back Credit Card by HDFC
As the title says, by using this credit card, one can avail cashback with every spending made through the HDFC money back credit card. The main highlights of the credit card are that of reward points; zero lost card liability and milestone offer. For every 150 rupees spend by the user, two reward points are awarded.
The users can redeem the reward points as cash backs on the money back credit card. One hundred reward points equal to 20 rupees. When it comes to the milestone offer, the user is rewarded with E-Vouchers upon reaching specific milestones.
To apply for this credit card by HDFC, all you have to do is go to their website and fill up the online application form. In terms of eligibility, a person must be at least 21 years old and at most 60 years old when it comes to salaried employees and 65 years when it comes to self-employed ones.
GST is levied along with the fees associated with joining the account. Extra benefits and reward points are received when the shopping is done online when compared with other transactions using the credit card.
4. HDFC Regalia First Credit Card
This credit card by HDFC is a luxury credit card which has some pretty amazing benefits and features associated with it. It is the most popular credit card offered by the bank. This credit card also works on reward points, but the number of reward points earned vary drastically.
There are benefits associated with shopping, travel, and lifestyle, and additional, comprehensive protection, including air accident insurance cover worth rupees 50 lakh. There is also medical insurance of rupees 10 lakh that can be availed if the user is in a foreign country. The credit card owners also get access to over 850 airport lounges across the globe.
The eligibility for attaining the Religa credit card is that the user must have an annual income of rupees 5 lakh or above. Twenty-one years is the minimum age limit. The applicant doesn’t require to be a citizen of India but must have a credit score of 750 or above.
The application can be submitted online, along with the required documents. There is an annual fee of rupees 1000 and other additional charges like cash processing fee, balance transfer processing charges, and so on. If you are looking for a luxury credit card with added benefits, then Religa is a viable option for you.
5. American Express Reward Membership Card
When it comes to the reward programs offered by various credit cards, the Reward Membership card by American Express is one of the very best. Most of the credit cards offer reward points to its users but are not entirely satisfactory.
Here, the user can avail one membership reward on spending just rupees 50. Again, if you use the card for transactions of rupees 1000 four times a month, an additional 1000 reward points are awarded. Apart from the reward points, there various other benefits, such as a joining bonus and an annual fee waiver. If you spend rupees 1.5 lakh within one year of joining, an amount of rupees 1500 is waived off.
The easy EMI option provided by the bank is also an attractive option. The eligibility criterion demands you to be a resident of India with a minimum annual income of rupees 6 lakhs if you are self-employed. For a salaried person, the annual income must be at least rupees 4.5 lakhs.
Also, you must already have a credit card from any bank. There are also certain regional specifications mentioned. So if you fall under the eligibility criteria, then there is no need to think twice before opting the American Express Reward Membership Card.
6. American Express Travel Platinum Credit Card
If you love to travel, then this credit card is an absolute essential for you. The card is filled with loads of travel benefits and perks specially designed to make the travel more fun and rewarding. There are spend based rewards that the user can avail by spending several rupees 1.9 lakhs in a year.
A travel voucher amounting to rupees 7700 is the reward. There is also four complimentary airport lounge access per year to 11 airport lounges in selected cities within India. There is also a 20% discount at selected premium restaurants available through this card.
Any purchase above rupees 5000 can be converted into EMIs without much processing. Apart from all these privileges, there is an additional welcome bonus available through the AMEX credit card. An attractive feature of this particular credit card is that it makes the user eligible for two additional credit cards at no additional expense.
When it comes to the eligibility, the applicant must be at least 18 years old, and a permanent resident of India. The annual income of the user must be a minimum of rupees 6 lakhs, and good credit history is also appreciated.
7. IndianOil Citi Platinum Card
Fuel cards can be considered as one of the most useful credit cards available in India. The reason is that the majority of us travel in our cars or bikes to work and other places. Petrol and diesel play a significant role in the lives of such people. The IOC platinum card helps the user earn Turbo points on the purchases made, and redeem the points at various petrol pumps in India.
The bank claims that the user can avail up to 71 liters of free petrol every year! On transaction worth rupee 1 at any Indian Oil outlet in India, the user can earn one Turbo point. There are also spending rewards available in this card like most other credit cards in India.
There is a minimum limit of 250 Turbo points necessary to start availing it at the petrol pumps. There are additional grocery benefits, shopping benefits, dining benefits, and travel benefits available in the credit card. There is no joining fee required, but there is an annual fee of rupees 1000 to be paid every year. There are no much eligibility requirements to apply for the card apart from the applicant being above the age of 18.
8. SBI Simply Click Credit Card
Who doesn’t shop online these days? Almost all of us use e-commerce websites to fulfill our day to day needs. The Simply Click credit card by SBI mainly focuses on online shoppers. We have seen a lot of the shopping websites providing additional discounts for purchases made using certain credit cards. Similarly, a whole lot of extra perks will be made available to the users of the Simply Click credit card.
Whenever the user shops at a partner website of the Bank, ten times more reward points are granted to him. Apart from that, five times more reward points are awarded on shopping on any other online website. There are also milestone awards and annual fee waiver along with a welcome gift voucher and accelerated rewards.
The user gets one reward point on spending 100 rupees on the card. Fuel benefit, worldwide acceptance, and free add on cards are also a part of Simply Click. There are a joining fee and an annual fee of rupees 499 each, and other additional fees accompanying the credit card. The bank decides eligibility.
All that is needed of you is to enter the details of your monthly income and expenditure on the website of the bank and wait for the bank to accept or reject your application.
9. SBI Elite Credit Card
As the title suggests, this credit card by SBI mainly focuses on its elite members. Like any other elite cards, this card too is filled with slathers of benefits and discounts. There is a welcome gift voucher amounting to rupees 5000 which can be availed at any of the partner brands of SBI, namely Pantaloons, Shoppers Stop, marks and Spencer, Yatra and Hush Puppies.
The foreign currency markup charge is 1.9%, which is the lowest markup charge present. There is a privilege of 2 international and two domestic lounge visits available quarterly. The user can earn two reward points on spending 100 rupees on any commodity other than that of fuel. There is also an attractive complement of two movie tickets amounting to 6000 rupees every year.
There is no joining fee with the credit card, but there are additional expenses such as cash advance fee, annual fee, and so on. Salaried employees between the age limit of 21 and 70 and Self employed applicants within the age group of 25 and 70 are eligible to apply. They must also be a citizen of India with a monthly income of over rupees 75000. An existing line of credit card is also necessary.
10. Axis Bank Buzz Credit Card
While shopping through Flipkart, you might have noticed that during the time of check out, an additional 10% to 20% discount can be availed if payment is done through Axis Bank. The Buzz credit card is made exclusively for the customers of Flipkart and other online shopping websites.
There are additional perks for Flipkart users. It includes an additional 10% discount on all purchases. EMI facility is also offered by the card.
Transactions above rupees 2500 are eligible for easy EMIs. Apart from these, there are welcome gifts, instant discounts, dining offers, regular rewards, and accelerated rewards available alongside. There are a joining fee and annual fee of rupees 750 each.
The eligibility criterion only speaks of the age limit and residential requirements. The primary applicant must be between the age limit of 18 and 70. The add on cardholder must be a minimum of 15 years old. The applicant need not necessarily be a resident of India. You can even apply for the card online.
11. Standard Chartered Ultimate Credit Card
As the title indicates, this is indeed the ultimate credit card! The target group of the UCC is middle to high economic class individuals and is filled with numerous benefits and privileges to the user. The credit card offers a travel insurance that has a coverage of one crore rupees over air accidents.
There is a priority pass membership available along with it. When it comes to the add on cards, there is no need for a joining fee or renewal fee. On duty-free spends, the card offers a 5% cash back. It gives the user access to over 1000 airport lounges in the world.
When it comes to the reward points, the user can earn five reward points for a purchase worth rupees 150. There is a cashback of rupees 10,000 available on MakeMyTrip website. 20% cashback on Uber spendings is also an added perk. There is a joining fee of rupees 5000, but it is profitable when compared to all the benefits one receives through the card.
There is a renewal fee, which is also rupees 5000. The applicant must be at least 21 years old and a maximum of 65. The other eligibility requirement is that the applicant must reside within the locality of the bank.
12. Standard Chartered Manhattan Credit Card
This is yet another credit card that is made exclusively for the shopaholics. The cash back and reward schemes are quite attractive and have managed to grab the attention of quite a few Indian customers. The bank claims that the user can earn a minimum of Rs.500 as cashback every month along with Rs.150 for every transaction. A 5% cash back is offered to the user every time he/she shops at a grocery store or a departmental store.
Five reward points are awarded for spending 150 rupees with the card. When you make any transaction within 60 days of receiving the credit card, an extra 1000 points are awarded to the user. The bank prefers the applicants to be within an age group of 21 and 60. The applicant must also have a steady income.
It shows that the bank prefers applications from organized sector rather than business owners and freelancers. The chance of your card getting approved is high if you are a resident of one of the metro cities. The credit and payment history of the applicants will also be thoroughly checked. An annual salary, not less than 6,00,000, is preferred. Applicants can also apply with the help of their Life Insurance policy or any other credit cards.
13. IndusInd Iconica Credit Card
The credit card is premium in nature and is designed especially for the premium banking customers. It offers users a variety of luxurious benefits and first-class services that makes it one of the best credit cards available in India. The credit card is available in collaboration with American Express and Visa. The privileges include discounts and cash back at premium retail stores, dining restaurants, airports, and so on.
There is no annual fees and additional add on fees present. The bank provides its users with extra security in the form of an embedded EMV chip and PIN authentication. The welcome vouchers provided by the bank can be redeemed at Satya Paul outlets present across India, which is a high-end fashion store. The card also enables the users to play golf at the best golf courses in the country.
The cardholders can also enjoy access to over 600 airport lounges across the globe. There is also a complimentary priority pass available. A waiver of 2.5% on fuel can be made at any petrol pumps in India. There are separate benefits for cards in collaboration with American Express and that of Visa.
The benefits and privileges associated with the Iconica credit card are so long and vast, it truly treats its customers as nothing less than regal. The joining fee sums up to an amount of Rs.17,999. Apart from that, there is no annual fee or add on card fee. You must belong to a metro city with an acceptable income per month to avail the premium credit card.
14. Yes First Preferred Credit Card
The major reward benefits of the credit card include reward points of 15,000 on making your first transaction. 25% discount is availed on movie tickets booked through BookMyShow. The user receives eight reward points on the purchase of items worth 100 rupees on retail. Apart from these benefits, the cardholders can also enjoy free golfing lessons every month at a selected golf club.
Green Fee waiver is also available through this credit card. Life insurance of one crore in case if air accidents is also an added perk. There is also medical insurance of Rs.25 lakhs available in case of emergency hospitalization while traveling overseas. Round the clock automobile assistance is present, which can be used in case of emergency towing assistance or roadside repair.
There is a Credit Card Protection Plan available for the extra protection of your credit cards. There is a joining fee of Rs.2,500 and an annual fee of the same amount. In case of eligibility, the applicant must be a minimum of 21 years and a maximum of 60 years. The minimum monthly salary of the user must be at least two lakhs. If not, the applicant must have a fixed deposit of rupees three lakhs or more.
15. SBI Simply Save Credit Card
The main highlight of the credit card is that it helps the user save money on every purchase that he/she makes using the card. It is very much useful on a day to day basis, and the user can earn reward points upon every purchase made. In other words, the card can be considered as a lifestyle credit card.
The user can earn 2000 bonus points upon spending Rs.2000 within the first 60 days of receiving the card. There is also a renewal fee waiver available at the time of renewal of the card. The card has acceptance not just in India but also across the globe.EMI option is available in this card too. Any big purchases can be converted into small installments using this facility with the help of Flexipay.
There are a joining fee and an annual fee of rupees 499 each and an interest rate of 3.33% per month. The eligibility criterion is mentioned on the SBI website. The applicants can easily check their eligibility and the documents required to avail a Simply Save credit card.
16. Kotak Bank Royale Signature Credit Card
For people who love to travel and also enjoy the premium privileges on the go, this card is the best that they can find in India. There is even a customized customer reward option available. The benefits of the card include per quarter access to airport lounges within India. When it comes to lifestyle categories, there are accelerated rewards applicable. For every purchase of Rs.150, the reward points are quadrupled.
Apart from that, there are annual fee waivers, Milestone reward points, and redemption options available. There is a joining fee of rupees 1,499 for the paid variant of the card and no joining fee for the unpaid variant. An annual fee of 999 rupees is also payable every year. To be eligible to apply for the Royale Signature Credit Card, the applicant must be over the age of 21 and under the age of 65 years.
The annual income of the applicant must be at least rupees 24 lakhs. Apart from that, the bank demands the applicants to be a resident of any of the following cities including Delhi, Kolkata, Mumbai, Chennai, Ahmedabad, Bangalore, Hyderabad, Chandigarh, and Pune.
If you fall under the recommended category, you have to submit the documents demanded by the bank, such as identity proof, income proof, PAN card, Voter ID, and so on. You can visit their official website to read about the card in detail and apply online.
17. RBL Platinum Maxima Credit Card
Considered as one of the best commercial banks in the nation, RBL bank provides some of the best services any premium cardholder can receive. The credit card allows users to enjoy annual benefits worth rupees 20,000. There are also excellent reward plans and other perks the users can enjoy when they choose the card. The reward points get multiplied when used for international purchases and entertainment, fuel, and dining payments.
The user earns two reward points on spending Rs.100 using the card. There are discounts available in BookMyShow and various other partner websites, apart from free airport lounge visits twice every quarter. The eligibility criterion set by the bank demands the user to be of 18 years or more. It is necessary that the applicant has a good credit history and is a citizen of India.
Joining fee is not specified, but there is an annual fee of Rs.4000. Users can redeem their reward points from Pizza Hut, Louis Philippe, Raymond’s, Flipkart, Lifestyle, Croma, Taj Hotels and Yatra. The interest rate charged by the bank is 3.5% per month. You can find the online application form on their website. Income proof, address proof, and a copy of the PAN card are necessary.
18. SBI Prime Credit Card
This is a premium credit card offered by SBI for its high-end customers. Like a lot of premium credit cards that we saw above, the SBI credit cards also provide their users with a liberal amount of premium benefits. Upon spending an amount of rupees 50,000 within a quarter year of getting the prime card, users have a chance to win a Pizza Hut voucher worth rupees 1000.
There is also an annual fee waiver available if met with the requirements. Hotel stay benefits can be availed along with Trident Privilege Tier Membership. Airport lounge access is available through this card also. There is an accident insurance cover of Rs.50 lakh and a fuel Surcharge waiver present within. There is a joining fee of Rs.2,999 and an annual fee amounting to the same.
The bank decides the eligibility to receive the case. It checks the income and expense ratio of the user, and later on, decides whether or not to accept the request. It uses contactless technology which enables the user to carry out swipe-less transactions. The card is valid worldwide and can be used anywhere across the globe. One can avail up to 2 add on cards in association with the Prime Card.
19. ICICI Emerald Credit Card
This credit card provided by the ICICI bank is super premium in nature, meant exclusively for the elite customers. There are two variants to the card, namely the American Express version and MasterCard version. They have an extravagant reward system which is in collaboration with PAYBACK. Offers related to booking of the movie shows through BookMyShow and reward points and discounts associated with it are present.
The foreign exchange mark up fee is only 1.5%, which is among the lowest few. The card users get unlimited access to airport lounges of partner firms. There is unlimited access to any airport lounges within the nation. Discounts can be availed at Richfeel, Kaya skin clinics, VLCC and other salons across the globe.
The card is targeted mainly at employees with more than three lakhs monthly salary. There is no over a limit fee, or cash withdrawal fee levied from the user, and the user can also freely choose a membership plan monthly or yearly. Golfing is going to be a totally new experience with the Emerald credit card by ICICI. The eligibility criterion requires the user to have an annual tax return of a minimum of 30 lakhs. Also, the applicant must be an existing ICICI Bank Global Private Client.
20. HDFC Diners Club Black Credit Card
The credit card mainly focuses on providing travel and lifestyle benefits to the users. It is a super-premium credit card that allows the users to avail exclusive airport lounge access and other travel benefits. The card allows unlimited access to more than 700 airport lounges. Accident coverage worth Rs.2 crore is available against air accidents. The credit liability coverage is worth rupees 9 lakh.
There is a welcome gift of 10,000 reward points available along with additional 5000 points every time the user renews the card. Annual fee waiver and other lifestyle benefits like concierge services are also present. The joining fee of the bank is Rs.10,000 and there is a renewal fee of rupees 5000.
The interest rate specified by the bank is 1.99% per month. There is no add on charge levied. The applicants must be within the age group of 21 to 65 and must have a monthly income of more than 1.75 lakhs. An annual Income Tax Returns of Rs.21 lakhs is also necessary.
Choosing the Best Credit Card in India: Things to Consider
After reading about the various top credit cards available in India, you might now have some idea on which card to choose. But there are certain important things to keep in mind before making your final decision. Selecting a credit card can be considered as a crucial financial decision, and the following factors must be given due importance before doing so:
1. Interest Rate
The interest can be levied from the users on a monthly or yearly basis. The interest rates differ depending on the bank, and the user has to go through and compare them and how they fluctuate concerning the card usage and other parameters.
The bankers might even decide to change the interest rate if they found it reasonable to do so. Hence, it is important to have detailed information regarding the interest rate and policies associated with it before registering with the bank.
2. Reward Points
Almost all credit cards have their reward points available. Most of them reward the users with 4 or 5 reward points upon spending 100 or 150 rupees. There are additional welcome reward points and renewal points available. The reward scheme has to be thoroughly examined and compared with that of the other credit cards to see which one is more profitable to the user.
3. Credit Limit
The credit limit can be understood as the additional amount the bank allows the user to borrow if he exceeds the allowed spending maximum. This will be different for different people. The bank takes this decision on whether or not to allow you more money by examining your credit scores and previous credit history.
There may be an added penalty levied from the users in case they max out their credit card. So, having an idea on the credit limit of the credit card you are looking forward to buying, is necessary.
4. Why do you Need a Credit Card?
An important question to be asked to yourself is why you need a credit card. Are you going to use this as your staple credit card or as an occasional one? If you are going to use the card daily, then the parameters are quite different from that of the occasional ones. Your lifestyle also plays a major role while choosing the card.
If you are not a person who likes to travel much but likes to enjoy the premium benefits of the credit cards, then fuel and travel cards are not the ones for you. Similarly, every aspect of your spending habits has to be considered.
5. Additional Fees
Some banks may ask for a joining fee which may range from Rs.499 to Rs.20,000 depending on the nature of the cards. Some banks do not ask for any joining fee at all.
Apart from the joining fee, additional fee such as renewal fee, annual fee, and so on are levied from the customers. A complete overview of the total fees that the user has to pay within a year has to be taken into consideration.
6. Eligibility Criterion
Most of the banks do not have a strict eligibility criterion apart from the minimum and maximum age limit. But when it comes to the premium credit cards, the bank demands the users have monthly minimum earnings and Tax returns.
Again, most of the banks opt for employees from the organized sector rather than businesspeople and freelancers. Good credit history is also appreciated. It is even easy to get your card approved if you already have a credit card account with the bank.
7. Compare the cards
Finally, it is informative to compare your choice of the credit card with that of the other credit cards available in the market. There are various comparison websites available where you can compare and contrast every feature available. This helps the applicant get an overall idea of where their card stands, in terms of Return on Investment, ease of usage, and many other factors.
Given below is a comparison table which shows the major parameters of comparison and the differences between some of the best credit cards available in India in 2019.
Comparison of the Best Credit Cards in India 2019
|Standard Chartered Unlimited Credit||HDFC Bank Diners Black Credit Card|
|Reward Points||2 points on spending Rs.100.||5 points on spending Rs.150.||5 points on spending Rs.150.|
|Joining Fee||Rs.17,999||Rs.5,000||Rs. 10,000|
|Eligibility||Must be in the specified city.||No monthly income specified.||Monthly income of Rs.1.75 lakhs|
|Interest levied||3.8% per month||3.1% per month||1.99%per month|
The Choice is Yours
Credit cards grand you the purchasing power that you have always dreamed of. You can buy almost anything within the card limit without having to carry around large piles of cash along with you. The additional discounts and reward points that you earn from each purchase is so much of an advantage that no cash or debit purchase can give you.
Apart from this, the card provides additional protection to the items purchased through it. Again, having a decent credit history gives you an extra edge when it comes to applying for loans, other credit cards, and even for some jobs! The credit cards come in handy during emergencies such as any accidents or natural calamities.
The insurance offered by the credit card covers all the expense. Hence, it is advisable to own a credit card, provided the user handles it judiciously.