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Best Credit Card In India

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Best credit card in India
Updated: 16-12-2020 11:19:47 AM

Looking for the best credit cards in India January 2021

Do not worry, you are at the right place! You will definitely find the card that suits your lifestyle. Whether you want to earn cashbacks or save more with deals and discounts, CreditKaro is the right place to be.

Choosing a credit card can be tricky at times. This plastic card solves the most important problems during a short financial crisis. Be it a vacation, a shopping spree or an emergency, your credit card stands by you. Using a credit card is not as difficult as picking a new credit card for yourself. The purpose of getting a new credit card defines what type of card you actually want. If you are looking to earn some cash back on your daily spends then you are looking for a cashback card, if you are a frequent traveler then you are looking for a travel card and if you love going to the movies then you want a card that offers you reward points on movie bookings. There are shopping cards, travel cards, co-branded cards, fuel cards, and the possibilities are endless.

For every need there is a unique credit card, let us have a look at the 15 best credit cards in India January 2021 in India across all categories and how they compare to each other:

These categories are :

Also Read: Top 5 cash back credit cards in Jan 2021

1. Citibank cashback credit card

USP: Cashbacks on Utility bills, telephone bills, Movie tickets etc.

ANNUAL FEE: INR 500

FEATURES:

  • 5% cashback on movie ticket purchases, telephone & utility bill payments.
  • 0.5% cashback on all other spends.
  • Cashback is auto credited to statement in multiples of INR 500.
  • Unredeemed cashback comes with an unlimited validity.
  • Get benefits up to INR 3,300+ in the first year.

2. Standard chartered platinum rewards credit cards

USP: Discounts on shopping, dining, travel etc.

ANNUAL FEE: INR 250

FEATURES:
  • Earn 5 reward points for every INR 150 spent on dining and fuel with no monthly cap on rewards earned.
  • Enjoy a variety of discounts and offers across dining, shopping, travel and a lot more.
  • Earn 1 reward point for every INR 150 spent on all other spends.
  • Enjoy faster checkouts and secure payments with the contactless credit card feature.

3. Amex membership rewards credit cards

USP: Earn reward points on spends

ANNUAL FEE: INR 1000

FEATURES:
  • Earn 1000 bonus membership rewards points when you use your credit card 4 times on transactions of INR 1000 and above every month.
  • Points are redeemable from the fabulous 18 and 24 Karat gold collection.
  • You can split the Payments in EMIs.
  • Earn 5,000 membership reward points upon first year card renewal, on payment of annual membership fee.

4. HDFC diners club rewards credit card

USP: Rewards on travel, shopping, and dining

ANNUAL FEE: INR 1000 + applicable taxes

FEATURES:
  • Earn welcome benefit of 1000 reward points and renewal benefit of 1000 reward points.*
  • Book air tickets/ hotels across 150+ airlines and choice of hotels to earn rewards.
  • Earn 3 reward points for every INR 150 of retail spends.
  • 1 Reward point = 0.30 Air Mile.
Also Read: Best Rewards Credit Cards Jan 2021

1. HDFC Regalia

USP: Airport lounge access within India.

ANNUAL FEE: INR 2500/- + Applicable taxes

FEATURES:
  • Zomato gold membership for one year.
  • Get complimentary access 12 times per calendar year within India (both domestic and international terminal).
  • Enjoy the good food trail dining program at premium restaurants across all top cities.
  • Earn 10,000 reward points when you achieve annual spends of INR 5 lakhs.
  • Earn additional 5000 reward points when you achieve annual spends of INR 8 lakhs.

2. SBI Elite

USP: Elite rewards and milestone privileges.

ANNUAL FEE: INR 4,999

FEATURES:
  • Welcome e-gift voucher worth INR 5,000.
  • Free movie tickets worth INR 6,000 every year.
  • Earn up to 50,000 bonus reward points worth INR 12,500/year.
  • Earn 10,000 reward points when you achieve annual spends of INR 5 lakhs.
  • Earn 5X reward points on departmental stores, grocery spends and dining.

3. Citi Prestige

USP: Complimentary stays, lounge access, golf course access around the world etc.

ANNUAL FEE: INR 20,000

FEATURES:
  • Enjoy unlimited priority pass lounge access at over 800 airports worldwide.
  • Get one night’s stay complimentary on a minimum booking of 4 nights at any hotel around the world.
  • Avail 4 complimentary golf rounds and golf lessons every year at some of the leading golf clubs across India.
  • Get Complimentary Meet and Assist services at over 30 international airports.

4. AMEX Platinum Card

USP: World class services, Platinum experiences and rewards.

ANNUAL FEE: INR 60,000

FEATURES:
  • Get a complimentary upgrade from select business class to first class with Etihad Airlines.
  • 25% off at Taj. SeleQtions and Vivanta hotels & 50% off on suites at Oberoi hotels & resorts.
  • 24X7 concierge service across the globe.
  • Access to centurion lounges, priority pass lounges, American express proprietary lounges.
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Also Read: Top Travel Credit Cards in India Jan 2021

1. American express platinum travel credit card

USP: Travel vouchers, airport lounges etc.

ANNUAL FEE: 3,500 plus applicable taxes

FEATURES:
  • Get travel vouchers worth more than INR 7,700 by spending INR 1.90 lacs in a year.
  • Get additional travel vouchers worth more than INR 11,800 by spending INR 4 lacs in a year.
  • Get 4 complimentary visits per year across India (this is limited to one complimentary visit per quarter).
  • Get a Taj experiences E-gift card worth INR 10,000 from the Taj SeleQtions and Vivanta hotels.
Compare and apply best credit cards online in india

2. Citi premier miles credit cards

USP: Frequent flyer points, lounge access, dining and lifestyle offers.

ANNUAL FEE: INR 3000

FEATURES:
  • Welcome bonus of 10,000 Miles.
  • Earn 10 miles per INR 100 on airline spends and earn 4 miles per INR 100 on other spends.
  • Redeem miles across 100+ airlines and hotel partners.
  • Get complimentary access to select airport lounges across India.

3. SBI IRCTC credit card

USP: Milestone benefits, Travel offers from IRCTC, Complimentary insurance cover etc.

ANNUAL FEE: INR 1499

FEATURES:
  • Earn 2,500 reward points on annual travel spends of INR 50,000 and 5,000 reward points on annual travel spends INR 1,00,000.
  • Get rail accident Insurance of INR 10 lakhs and air accident insurance of INR 50 lakhs complimentary.
  • 10% value back on AC1, AC2, AC3, AC CC as reward points for your ticket purchase.
  • Avail movie voucher worth 500 from BookMyshow* on spends of INR 2000 within first 60 days.

4. SBI air india signature

USP: Frequent flyer points, luxury lounge access, rewards on booking etc.

ANNUAL FEE: Up to INR 4,999

FEATURES:
  • Get 20,000 reward points as a welcome gift by paying the joining fee.
  • Get 1,00,000 bonus reward points annually.
  • Enjoy international airport luxury lounge access to over 600 airport lounges.
  • Earn 30 reward points when you book for yourself and 10 reward points when you book for others.

1. SBI prime business

USP: Milestone benefits, club Vistara Membership etc.

ANNUAL FEE: INR 2,999

FEATURES:
  • Welcome E-gift voucher worth INR 3,000 from yatra for business.
  • Get 10 reward points per INR 100 spent on dining, utility bills payments and office supplies.
  • Enjoy complimentary club Vistara silver membership.
  • Enjoy 1 complimentary lounge access voucher with 1 upgrade voucher.

2. SBI simply click advantage

USP: Shopping, Gift vouchers, Rewards etc.

ANNUAL FEE: INR 499

FEATURES:
  • Welcome gift card worth INR 500* from Amazon on joining.
  • Earn 10X reward points on all online spends with –
  • Amazon/ BookMyshow/ Cleartrip/ Lenskart/ Nedtmeds/ Urbanclap.
  • e-voucher worth INR 2,000 on annual online spends of INR 1,00,000.
  • 1% fuel surcharge waiver for each transaction between INR 500 & INR 3000

3. Standard Chartered Manhattan platinum credit card

USP: Cashbacks, rewards, entertainment etc.

ANNUAL FEE: INR 999

FEATURES:
  • Welcome gift worth INR 2,000* from BookMyshow on first transaction within first 90 days.
  • Get 5% cashback at supermarkets.
  • Get 3X rewards on all other expenses.
  • Enjoy faster checkouts and secure payments with contactless credit card.
Check   free credit score online

1. Standard chartered super value titanium

USP: Cashbacks on fuel and utilities.

ANNUAL FEE: INR 750

FEATURES:
  • Earn 5% net cashback on fuel spends.
  • Get 5% cashback on utilities.
  • Get 5% cashback on phone bill.
  • Earn 1 free lounge visit per month.
  • Reward Earn Rate: 1 point per Rs. 150 spent (Premium Banking: 5x overseas spend)
  • Point Value: 100 points = 53 JPMiles = Rs. 24
  • Utilities: 5% cashback, minimum transaction of Rs. 750, max Rs. 100 cashback/month
  • Fuel: 5% cashback (net of surcharge), min transaction Rs. 750, max Rs. 100 cashback/transaction & Rs. 200/month
  • Phone bill: 5% cashback, min transaction of Rs. 750, max Rs. 100 cashback per transaction & Rs. 200 per month
  • SC Good Life Program; Premium Banking - Priority Pass (1 free lounge visit per month)
Also Read: List Of Best Citi Bank Credit Cards Online Jan 2021

Let’s learn a bit more about the best credit cards in India

Spending Behavior

When you are looking for the best credit cards online, you are looking for something that can solve all your problems. Unfortunately, every card is unique and has its own line of features, so there is no one product that fits all. The only way to find the perfect match for yourself is to divide your needs into categories. Every card caters to a different category and to make the most out of your credit cards you need to make sure that you pick the best from each category. Your spending behavior will decide what type of card you actually need. You might not be a shopaholic but you are a frequent flyer so you may not need a cashback & rewards cards as much as a travel credit card. It is especially important to understand the need before actually getting yourself an added responsibility of a credit card.

Account Balance

If you have a habit of spending high amounts on your credit card, it is particularly important that you keep up with the monthly payment dates. If you are missing monthly payments on a continuous basis or keeping your card balance for months at a time, soon you will see yourself falling into a debt trap. The interest rates on these credit cards can range from 30% to 50% annually, therefore taking away from the rewards that you may earn through your spending. This will automatically bring you to square-one and diminish the whole point of having a credit card. So, if you have a habit of using your credit card more often then make sure you do your payments on time to avoid situations like these.

Credit Utilization Ratio

Credit Utilization ratio also known as your Credit utilization rate; is the amount of revolving credit you are presently utilizing divided by the total amount of revolving credit you have. For example- You have INR 10,000 in credit which is available on your credit card and you have used up INR 5,000 during your billing cycle, then your credit utilization ratio stands at 50% as you have used up half of the available limit. The total of credit utilization ratio is calculated after considering all the credit cards you own.

A good credit utilization ratio is determined differently by different credit rating agencies. However, the most commonly recommended total credit utilization ratio is below 30%. For example – Your total credit limit is 1,00,000, your total revolving balance must not exceed INR 30,000. Having a lower credit utilization ratio indicates that you are a responsible borrower and that you have had a good credit history. Check the benefits of credit health report here

Compare and apply best credit cards online in india

How to use rewards on your credit card?

Rewards are not as easy to access as you may think. If you are redeeming cashback rewards are quickly awarded making it useful to you because it solves your need for a quick redemption on rewards. However, redeeming rewards on a travel card may take up to a few weeks to receive due to processing time, making it less attractive to those who want fast rewards but remains attractive for frequent flyers who can redeem those reward points for discounts on their next flight.

Many credit cardholders accumulate reward points but fail to redeem them on time. Regardless of the reward points you accumulate, if they are not redeemed on time, the reward schemes expire. Whether you choose to redeem rewards frequently or accumulate and redeem for something big, make sure you use the rewards before they expire.

Also Read: Top Travel Rewards Credit Cards In Jan 2021
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