Top 5 Credit Cards in India – August 2023
What is credit card?
A credit card is a financial instrument issued by banks with a pre-set credit limit, helping you make cashless transactions. The card issuer determines the credit limit based on your credit score, credit history and your income.
After you apply for a credit card and begin to use it, make sure that the amount you have borrowed or utilised is repaid within the stipulated time frame to avoid penalty charges.
How credit cards are helpful?
CashBack :
Credit cards offer 1%, 2%, 3% or even as much as 6% cash back on selected purchases, though such lucrative offers involve quarterly or annual spending caps.
Rewards Points :
Credit cards are set up to allow cardholders to earn one or more points per dollar in spending.
Safety :
Paying with a credit card makes it easier to avoid losses from fraud.
How to apply for credit cards?
All credit cards will require you to be at least 18 years old, with enough income or assets to afford a card’s monthly minimum payments, a valid identity and a U.S. mailing address.
For individuals who have a credit card income eligibility of ₹10,000 to ₹25,000 a month are also eligible for some specific credit cards come with several attractive benefits.
Top 5 credit cards of JUNE 2023
Card
Joining
Fee – Nil
Renewal
Fee – Nil
Benefit :
No limit
or expiry date on the rewards earned using this card .
· Reward
earnings can be used to purchase from over 10 crore products at www.amazon.in
and at more than 100 merchant partners.
·
5%
cashback on transactions made at www.amazon.in for Amazon Prime members*
·
Earn 3%
cashback on transactions made at www.amazon.in for customers who are not Amazon
Prime members
·
2%
cashback on transacting at over 100 Amazon Pay merchant partners on using
this card on Amazon Pay
·
1%
cashback on all other payments
2.Flipkart Axis Bank Credit
Card
Joining
Fee : 1100/-
Renewal
Fee : 500/-
Benefits :
Rs. 500 worth Flipkart vouchers on your first transaction with your Flipkart Axis Bank credit card
· 15% cashback up to Rs. 500 on your first transaction on Myntra using Flipkart Axis Bank credit card
· 50% instant discount up to Rs.100 on 1st Swiggy order. Use code “AXISFKNEW”
· Flat 1.5% on all online and offline transactions.
3. HDFC Bank UPI RuPay Credit Card
Joining Fee : 250/-
Renewal Fee : 250/-
Benefits :
· 2% Cashpoints on Utility spends (Maximum of 500 Points can be earned in a calendar month)
· 1% Cashpoints on other spends (Excluding Rent, Wallet loads, EMI, Fuel & Government categories) (Maximum of 500 Points can be earned in a calendar month)
4.SBI Cashback Credit Card
Joining Fee : Nil
Renewal Fee : 999/-
Benefits :
· 5% cashback across all online transactions
· Get 1% cashback on offline purchases and paying utility bills
· Enjoy four domestic airport lounge visits for free every year, with a ceiling of one visit per quarter
· Enjoy a 1% fuel surcharge waiver across all petrol pumps throughout India on transactions ranging from Rs.500 to Rs.3,000
Use the ‘Easy Bill Pay’ facility to pay your mobile, electricity, and other utility bills conveniently.
5.Dhanlaxmi Bank Platinum credit card
Joining Fee : Nil
Renewal Fee : Nil
· Get 5% cashback on transactions made at supermarkets and departmental stores.
· This card provides free insurance cover which includes Rs. 20 Lacs in air accidental in (death case only)
· Rs.1 Lacs in purchase protection for 90 days from purchase
N.B. – The best credit cards also vary across different credit card categories. We have further listed the top 5 credit cards in India across multiple categories- Cashback & Shopping, Travel, Premium, and Rewards.