As credit cards have become one of the most common payment methods in India today, it is imperative that you are aware of the different advantages offered by each. Before you compare the best credit cards in India and their benefits, it is important that you assess your requirements first. For instance, get a credit card that offers vouchers on shopping if you primarily wish to use the credit card for lifestyle purchases. If your maximum spends are on movies or dining out, get a credit card that offers discounts and advantages for entertainment.
The top five credit cards in India are listed below for your easy reference.
SBI Card Elite:
Best Suited For Annual Fees Shopping, travel, and movies Rs. 4,999 + GST
Features and Benefits of the SBI Card Elite:
- The SBI Card Elite offers you privileges offered with American Express, Visa, and Mastercards on categories such as dining, golfing, and hotel rooms rates.
- Your shopping experience’s convenience will be enhanced through the SBI Card Elite’s contactless secured payment feature.
- You can use this card at over 24 million outlets globally, and in 3.25 Lakh outlets across India anxnr .
- This premium credit card offers you complimentary fraud liability cover of Rs. 1 Lakh, which comes into effect from 2 days prior and till 7 days after you have lodged your credit card’s loss.
- You can also get add-on cards for your family by opting for the SBI Card Elite program.
- Axis Bank Ace Credit Card:
Best Suited For Annual Fees Cashback on purchases made through the card Rs. 499 + GST
Features and benefits of the Axis Bank Ace Credit Card:
- One of the best credit cards in India, the Axis Bank Ace Credit Card offers 5% cashback on payments for utility bills, mobile recharges, and DTH.
- You can also get discounts up to 20% at more than 4,000 restaurants across India with this card.
- This credit card offers you access to select domestic airport lounges across India four times in a year.
- The Axis Bank Ace Credit Card is also known for its affordability as it allows you to convert purchases of Rs. 2,500 or more into affordable EMIs that can be repaid comfortably.
- You receive a 1% waiver on surcharge for fuel purchase across all the petrol pumps in India.
- HDFC Regalia Credit Card:
Best Suited For Annual Fees Travel and shopping Rs. 2,500 + GST
Features and Benefits of HDFC Regalia Credit Card:
- The HDFC Regalia Credit Card offers complimentary access to 12 domestic airport lounges along with 6 international ones.
- On spending Rs. 5 Lakhs, you get a bonus of 10,000 reward points. By spending Rs. 8 Lakhs annually, you can earn an extra 5,000 reward points.
- For every retail spending of Rs. 150, you earn 4 reward points with the HDFC Regalia Credit Card.
- This credit card offers a zero lost card liability feature that ensures you are not required to pay for any fraudulent transactions through your card.
- With this card, you can get 24×7 concierge services.
- Standard Chartered Digismart Credit Card:
Best Suited For Annual Fees Online shopping Nil
Features and Benefits of Standard Chartered Digismart Credit Card:
- Get this card if your credit card payments are few and far in between because this card allows you to save on the annual fees that most other cards compulsorily levy even if you do not use the card.
- You can get discounts of 20% at Myntra, 10% discount at Grofers, and 10% discount at Zomato; all without any minimum spending requirements.
- Purchasing a movie ticket at INOX multiplexes on weekends entitles you to one free ticket. This offer can be utilised for two transactions each month.
- Citi PremierMiles Credit Card:
Best Suited For Annual Fees Air travel miles Rs. 3,000 + GST
Features and Benefits of Citi Premier Miles Credit Card:
- If you are a frequent traveller and want to get a credit card, then the Citi PremierMiles Credit Card is perfect for you. For every Rs. 100 you spend on airline transactions you earn 10 miles, while you can earn 4 miles on every Rs. 100 you spend on other purchases.
- One of the best credit cards in India for travellers, this card offers up to Rs. 1 Crore in Air Accidental Insurance Cover and Lost Card Liability Cover of Rs. 10 Lakhs.
- You get discounts of up to 20% at partner restaurants across the country and access to airport lounges across the country.
How to Choose the Right Credit Card
Choosing to get a credit card for your specific needs can often feel like a daunting task. However, it is extremely easy if you follow these steps listed below.
- Identify Your Requirements:
Assessing your requirements for a credit card is often the first step to choosing the best credit card for yourself. If you spend more on online shopping, you can opt for a credit card that offers discounts and benefits on digital commerce.
- Shortlist Credit Cards:
Based on your requirements, you can shortlist cards that meet these requirements. There may be a range of cards that offer discounts on dining and it’s best to keep them listed somewhere for easy assessment.
- Learn the Eligibility for These Cards:
Once you have shortlisted the cards you are likely to opt for, it’s best to learn their eligibility criteria to know whether you can actually apply for these cards.
Once you have all this information at hand, it will become significantly easier to compare the advantages and benefits offered by the cards you have shortlisted and come to a final decision regarding the card you want to get.