Which Credit Card Is Best?

Introduction

There is no “one size fits all” solution when picking the finest credit card. You can narrow your selections and assess your financial needs by asking the right questions. Picking from a smaller selection of possibilities would be simpler.

The number of credit card users in India reached 47 million in 2019, and the market is expected to grow by more than 25% between 2020 and 2025. the ‘buy first and pay later’ mentality that is common among younger generations is primarily to blame.

Choosing a credit card that offers you the finest benefits based on your financial circumstances is therefore beneficial. Without a doubt, it will be crucial in enhancing your creditworthiness and general financial stability.

Top 10 Credit Cards In India

HDFC Millennia Credit Card

If you’re brand-new to the world of credit cards, the HDFC MoneyBack credit card is your best choice. Using this card to start increasing your credit score while saving money is a terrific idea. For every dollar you spend, you’ll save money because to its cashback perks.

You will gain two reward points for every 150 spent, and twice as many if the transaction is made online. These reward points can then be redeemed for presents or air miles from the special rewards catalogue. But keep in mind that in order to be able to redeem it, you must have a minimum of 2,500 points.

What’s even more intriguing is that anyone who earns more than Rs. 15,000 per month can apply for this card, making it ideal for a young adult who has recently begun working.
500 plus GST as a joining fee
yearly cost: Rs500 plus GST

HDFC Diners Club Black Credit Card

This credit card gives luxury shoppers the complete deal with unrestricted access to foreign lounges and alluring benefits. The ideal premium credit card is the HDFC Diners Club Black card, which has a credit limit of 4 lakhs.

With good reason, it has been labelled the greatest international credit card. At 2.0%, it offers one of the lowest foreign exchange rates. Additionally, you will gain access to six free rounds of golf each quarter.

Even better, you can earn up to 3.33% on every retail purchase you make (excluding fuel). and you can earn 5 reward points for every 150-transactions.

You automatically gain access to a plethora of lifestyle and travel amenities in addition to the reward points.

Membership cost: 10,000 plus GST, annual fee: ₹10,000 + GST

Induslnd Bank Pioneer Legacy Card

The IndusInd Bank Pioneer Legacy card has the highest reward rate of all lifetime-free credit cards in India. You can get 1 point for every Rs. 100 spent on all of your weekday purchases, and an even better 2% on weekends.

Additionally, if you spend Rs. 6,000,001 during a year, you will receive an extra 6,000 points as part of their anniversary incentive. As a welcome present, you will be given a Luxe gift card that may be used for a variety of luxuries as well as special gift certificates for Oberoi Hotel groups.
joining fee: Rs. 45,000 plus GST yearly fee: nothing

SBI Prime Credit Card

The SBI Card PRIME, hailed as the best credit for paying utility bills, includes a priority pass for 4 free international and 8 free domestic airport lounge visits.

It includes welcome e-gift cards with a value of Rs. 3,000 within. With this, you can buy products from these brands, such as Pantaloons, Yatra, Bata/Hush Puppies, Shoppers Stop, etc. For cardholders with at least 3 lakhs in expenses, the annual fee is eliminated. Both the MasterCard World and Visa Signature versions of this card are offered.

The most valuable credit card on the market is SBI Card PRIME. For instance, the card offers the greatest rewards for utility bill payments in India at 5%, or 20 points for every 100 rupees spent.

The general spending rewards rate of 0.50% is the only drawback.
membership fee: Rs. 2,999 plus GST
annually: Rs. 2,999 plus GST

American Express Platinum Credit Card

For someone who travels frequently, the American Express Platinum Travel credit card is the ideal option. In addition to complimentary lounge access, this card offers additional gift cards for travel.

The key is to collect those milestone rewards. You will receive 10,000 rewards points as a welcome bonus, which you may exchange for a Flipkart voucher or a 3,000 USD payment option in Amex Travel Online. Additionally, if your annual spending reaches 1.9 lakh, you’ll get 4,500 in travel coupons.

This card not only enhances your travel experience overall, but it also gives extra advantages like frequent savings at MakeMyTrip and other redemption opportunities. Moreover, for every 50 spend, you will receive 1 reward point. There is nothing greater than this. First-year yearly fee: Rs. 3,500 + relevant taxes. after the second year: 5,000 + any applicable taxes.

Standard Chartered DigiSmart

One should apply for a Standard Chartered DigiSmart credit card if they prefer internet shopping. You can receive discounts of up to 25% on transportation, apparel, food, groceries, movie tickets, and cab services. Using this credit card can result in monthly savings of up to Rs 3,450.

To take advantage of the discount offers, you can only use this card on a select few online platforms. You receive a 20% discount on Myntra for each purchase, a 20% discount on Yatra for domestic ticket bookings, and a 25% discount on Myntra for domestic hotel bookings.

additionally, you will receive a 10% discount on supermarket purchases made through Grofers and Zomato’s online ordering system. In addition to a 15% discount on Ola cab reservations. Inox’s buy one, get one (BOGO) movie ticket promotion is the cherry on top.

There is no yearly cost. In place of that, it levies a monthly cost of 49, which is eliminated when you spend 5,000 or more.

SBI Student Plus Advantage Credit Card

The SBI Student Plus Advantage credit card is an option for college students who want to keep track of their spending. Customers who have taken out a student loan with SBI are the only ones eligible for this card. You can obtain a secured credit card without an annual charge by using a fixed deposit as collateral.

Additional benefits offered by this credit card include 2.5% cashback on supermarket and department shop purchases. For all of your overseas expenses, which is excellent if you’re studying abroad, you also receive the same reimbursement.

Joining charge If all purchases made with the card in the previous year totaled less than 35,000, there is no annual charge; otherwise, it is 500.

Kotak Mahindra Essentia Platinum Card

We spend a significant portion of our monthly income on groceries. According to a poll, the average Indian spent close to 28% of their total income on groceries.

The Kotak Mahindra Essentia Platinum credit card is the best cashback choice for food shopping. It is the best option because you receive 10% cashback on all supermarket and retail purchases. If you spend at least Rs. 1,500 at the grocery, this card is the best option.

Additionally, as part of their anniversary promotion, you will receive 12,000 points if you spend 1.25 lakh in six months, which corresponds to up to 24,000 points or six free PVR tickets in a year.

Membership fee: Rs. 1,499 plus GST, yearly cost: Rs. 749 plus GST

Axis Pride Signature

Because you are an NRI, do you need a credit card that offers you exceptional value back on all of your purchases? There is no need to search further because the Axis Pride Signature is the best available.

There are no fees for using this credit card for the first year. If you spend a minimum of 40,000 in one year, the yearly fee of Rs. 500 is removed for the subsequent years.

The majority of the credit card’s value is generated by an exceptional 1.6% value back on all purchases other than fuel. that indicates that for every 200 paid, you receive 8 reward points. You will also receive two trips to lounges every three months, as well as other eating incentives, in five significant Indian cities. If you are an NRI, this card would provide you with the highest overall value for practically all of your spending.

Joining charge No annual fee: 500, but only if the total purchases made with the card during the previous year were under 40,000.

ICICI Business Advantage Black Card

One of the top business cards available is the Business Advantage Black card from ICICI. This premium card intended to promote secure corporate operations. On domestic and foreign purchases, you might get up to 1% cashback. Everything, including plane travel, car rentals, and professional services like accounting, marketing, and advertising, can be paid for using this card.

This card stands out because the cashback is determined by overall spending. which suggests that the payback will increase as you spend more. Users are also eligible for cashback when bills are paid, in addition to receiving cashback on business expenses.

Membership fee: Rs. 1,500 plus GST and Annual cost: Rs. 1000 plus GST

Conclusion

Keep in mind that no single credit card offers all the benefits you desire. Each credit card is different and has its own set of benefits and drawbacks.
Additionally, by comparing it to other cards, you have a higher chance of obtaining a credit card tailored to your needs. Your best option will be determined by a thorough comparison.

Some Credit Cards to look at

Axis Bank Neo Credit Card	Axis Bank Select Credit Card
How to activate HDFC credit card	IndusInd Bank Platinum Credit Card
HDFC Infinia Credit Card	Axis Bank Magnus Credit Card
SBI Unnati Credit Card	Axis Bank Vistara Infinite Credit Card
HSBC Smart Value Credit Card	HDFC Diners Club Black Credit Card

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