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Can a Salaried Individual Avail a Credit Card?

Yes, a salaried individual can avail of a credit card. A credit card allows an individual to make cashless transactions from the credit limit approved by the bank.  A credit card limit is an amount that is sanctioned by the bank under every credit card. The credit cardholder will have to repay the used funds at the end of the billing cycle. In case the cardholder fails to pay the due amount within time, the banks will charge a penalty on the due amount.

 

One of the biggest eligibility parameters for credit cards is having a stable source of income. The occupation category does not concern banks, but the stability in generating income that further decides the repayment capacity of the cardholder is a concern for the bank. The annual income of salaried individuals decides the credit limit of the credit card. Here is a list of the best credit cards  in India 2024 for salaried person

List of Best Credit Cards for Salaried Person

In today’s modern digital era, credit cards have become the most popular mode of transaction amongst all kinds of people. Initially, the feasibility and accessibility of credit cards were only in the high-class society but now the banks have launched a wide variety of best credit cards for salaried people that are beneficial and economical for all types of people, including salaried employees. The credit cards launched by banks are categorized on the basis of the salary range of individuals and their requirements. Here are some of the best credit cards for salaried person-

  • SBI Simply Save Credit Card 

The SBI Simply Save Credit Card is a customer-friendly card designed to offer the holder maximum monetary and non-monetary benefits. The annual fee for the first year is Rs. 499. For the second year, the annual fee is waived on the annual expenditure of Rs. 90,000 or more. Here are some other features of this credit card -

  • 2,000 bonus reward points on spending within 60 days of credit card issue.

  • 10 bonus reward points on spending on dine-in, movie tickets, utilities, and departmental stores.

  • Easy money access, anytime anywhere.

  • The easy tracking system of credit card expenses

  • For every Rs. 100 you spend, you will receive one bonus reward point.

  • Exciting credit card offers and discounts are available on the redemption of bonus reward points.

  • Fuel benefits at any fuel station in India.

  • You can convert outstanding into credit card EMIs and save yourself from paying high interest.

The eligibility criteria of Simply Save Credit Card is -

  • The minimum and maximum age of the applicant must be 21 years and 60 years respectively. 

  • For add-on cards, the minimum age must be 18 years.

  • The applicant must be either self-employed, salaried-employee, retired pensioner, or a student.

  • The gross annual income of the applicant must be Rs. 3 lakhs or above.

  • HSBC Visa Platinum Credit Card

The HSBC Visa Platinum credit card gained its popularity in the market, especially in the salaried employee category. This card’s joining and annual fees are zero, making it easily accessible. The card is packed with rewards, schemes, and offers, which makes it a consumer’s choice. Here are some other features of HSBC Visa Platinum credit card-

  • Exciting welcome perks.

  • Multiple options to redeem bonus points.

  • Complimentary travel offers and vouchers.

  • Annual movie vouchers of up to Rs. 3000.

  • 15% discount on dine-in at partner restaurants (only available in major Indian cities)

  • Get 2 bonus credit card reward points on any transaction at a retail store of Rs.150 or above.

  • 10% cashback on transactions above Rs.10,000 within 90 days of issue. The maximum amount of cashback is Rs2500.

The eligibility criteria of HSBC Visa Platinum Credit Card is-

  • The minimum and maximum age of the applicant must be 18 years and 65 years, respectively. 

  • The applicant must be a salaried employee

  • The gross income of the individual must be Rs4 lakh or more.

  • The applicant must be a resident of any of the serviceable cities.

  • SBI SimplyCLICK Credit Card

Another one of the best credit cards for salaried person in India is SBI SimplyCLICK credit card. The annual fee and joining fee of the card are Rs. 499. The annual fee is waived in case your annual expense is Rs. 1 lakh or above. The rate of interest is about 3.50% monthly or 42% per year. Here are some other features of the SBI SimplyCLICK credit card -

  •  Get one reward point on every spend of Rs. 100 or above.

  • Get 10 bonus reward points on online purchases from any of the brand partners including Amazon, Cleartrip, BookMyShow, FoodPanda, UrbanClap, Lenskart, etc.

  • Get 5 bonus rewards points on all online spends.

  • 1% fuel benefit on transactions of Rs. 500 and Rs. 3,000.

  • Convert your purchases of Rs. 2,500 or above into EMIs.

The eligibility criteria of SBI SimplyCLICK Credit Card is -

  • The minimum and maximum age of the applicant must be 21 years and 60 years respectively. 

  • For add-on cards, the minimum age must be 18 years.

  • The applicant must be either self-employed, salaried-employee, retired pensioner, or a student.

  • Axis Bank Platinum Credit Card 

As the world of technology is evolving, so are people’s choices. In terms of credit card payment methods, credit cards are one of the most preferred payment cards. They ease the payment process and come with offers and deals that enhance the spending experience. The Axis Bank Platinum credit card is also one such card that offers a wide variety of offers and deals with low annual and joining fees, making it a consumer’s choice card. This card’s joining fee and annual fee are just Rs. 500 and Rs. 200, respectively. There are many other features that this Axis Credit Card is packed with, some of them are:

  • eDGE Loyalty Rewards Programme

  • On every domestic purchase of Rs200 or above, you get 6  bonus reward points.

  • On every international purchase of Rs200 or above, you get 12  bonus reward points.

  • On the first online spend, you get 100 bonus reward  points

  • Fuel benefits of 2.5% on transaction amounts of Rs400 and Rs4,000 on all fuel stations across India.

  • 100 bonus reward points on add-on cards.

The eligibility criteria for Axis Bank Platinum Credit Card is:

  • The minimum and maximum age of the applicant must be 18 years and 70 years respectively. 

  • You must either be an Indian resident or a NRI.

  • There are other factors like credit score, income stability, etc that would also affect the eligibility criteria for this card.

  • HDFC Bank Diners Club Black Card

The HDFC Bank Diners Club Black Card is designed for high earning individuals who prefer luxurious things in life. The first year fee for the card is Rs. 10,000, which would be waived on the spending of Rs. 1 lakh or above. From the second year onwards, the annual fee is Rs. 5,000, which would be waived on spending Rs. 5 lakh or above. The card has offers for everything including food, travel, dine-in and shopping as well. Here are some other features of this card -

  • 10,000 bonus reward points as a welcome perk.

  • On every purchase of Rs. 150 from any retail store, you earn 5 bonus reward points.

  • For some selected retail stores which are in partnership with HDFC, you can get 10 bonus reward points on every transaction of Rs. 150 or above.

  • On renewal of your credit card you can get interest-free credit for up to 50 days along with 5,000 bonus reward points.

  • Complimentary visits to 700+ lounges all over the world.

  • Up to 15% off on dine-in at any of the premium partner restaurants.

  • 1% fuel benefits up to Rs1000

  • Death by air accident cover of Rs2 crores.

  • Emergency medical services cover worth Rs 50 lakhs.

The eligibility criteria for HDFC Bank Diners Club Black Card is -

  • The minimum and maximum age for salaried applicants must be 21 years and 60 years respectively. 

  • The minimum and maximum age for self-employed applicants must be 21 years and 65 years respectively. 

  • Minimum IT returns of self-employed applicants must be Rs21 lakh annually.

  • For salaried applicants, the net monthly income must be Rs1.75 lakh or more.

 

**Note that the credit card eligibility criteria differ from card to card as well as are different for salaried employees and self-employed individuals. Banks improvise and introduce the features of credit cards every now and then.

FAQs About Best Credit Cards in India for Salaried Person

Which is the Best Credit Card in India for 40,000 Salary?

Monthly income plays an important role in the selection of your credit card. Here are some of the best credit cards for salaried person earning Rs. 40,000 per month:

  • Platinum Chip Credit Card by ICICI Bank.

  • SimplyCLICK SBI Card 

  • HSBC Visa Platinum Card

  • Kotak Mahindra Bank’s Urbane Gold Credit Card

  • Axis Bank’s Insta Easy Credit Card.

Which is the Best Credit Card in India for 25,000 Salary?

Monthly income plays an important role in the selection of your credit card. Here are some of the best credit cards for salaried person earning Rs. 25,000 per month:

  • SBI Simply Save Card

  • YES Bank YES Prosperity Rewards Plus

  • HDFC Money-Back Credit Card

  • ICICI Platinum Chip Card-Visa

  • CITI CashBack Credit Card

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