Best Credit Card in India

Credit Cards in India

Credit cards offer numerous benefits across multiple categories such as shopping, fuel, travel, dining, and more. These benefits are available in the form of vouchers, reward points, cash back, etc., which you can earn and use while making transactions with a credit card. Since the features and benefits vary from one credit card to another, you might get confused while selecting a credit card with the best features. Continue reading to know which bank credit card is best for you.

Top 10 Credit Cards in India in 2022

As discussed earlier, credit cards provide advantages on a range of categories. The ideal credit card for you, however, must depend on your spending patterns. We have identified the best credit cards in India with their features and advantages to assist in choosing the best credit card in India in 2022.

1. Bajaj Finserv RBL Bank Credit Card

• Best Suited for

Best for overall use

• Annual Fees

Depends on the card you choose

• Features and Benefits

• Enjoy no interest on cash withdrawal (from any ATM in India) for up to 50 days

• Get 5% cashback up to ₹1,000 on down payments

• Avail the opportunity to convert your available cash limit into a personal loan for 3 months at an interest rate of 1.16% per month with zero processing fee. RBL Bank provides the loan and reserves the right to change its policies regarding the matter

• Enjoy complete control to enable or disable domestic, international, online, or offline transactions

• Get up to 8 complimentary airport lounge access in a calendar year

• Enjoy EMI conversion facility via ‘Split n Pay’ option

They function simultaneously as credit cards, loan cards,  cash cards, and EMI cards. Additionally, you can benefit from RBL Bajaj Finserv Credit Cards' zero annual fees and finance rates as low as 3.99%. 

2. SBI Card ELITE

• Best Suited for

Travel, shopping, and movies

• Annual Fees

₹4,999 + GST

• Features and Benefits

• Enjoy Mastercard/Visa/American Express privileges across various categories such as golf games, hotel room rates, dining, etc.

• The contactless secured payment feature available on SBI Card ELITE makes shopping easy and effortless

• This card has a global acceptance at over 24 million outlets, including 3.25 lakh outlets in India

• Avail complimentary fraud liability cover of ₹1 lakh from 2 days prior to the date of reporting to 7 days after lodging credit card loss

• Enjoy the opportunity to add family members under the SBI Card ELITE program and avail add-on cards

The SBI ELITE Credit Card renewal fees per annum is ₹4,999 plus taxes charged from the second year onwards. The finance charges are 3.35% per month, or 25%, whichever is higher.

3. Axis Bank Ace Credit Card

• Best Suited for

Cashback

• Annual Fees

₹499 + GST

• Features and Benefits

• Get 5% cashback on utility bill payments, DTH, and mobile recharge on Google Pay

• Enjoy up to 20% discount at more than 4,000 partner restaurants in India

• Get access to select domestic airport lounges in India 4 times in a year

• Convert any purchase of ₹2,500 or above into affordable EMIs with Axis Bank Ace credit card

• Avail 1% surcharge waiver on fuel spending across all petrol pumps in India

The ₹499 membership fee is waived off if you spend more than ₹10,000 within 45 days of receiving your card.

4. HDFC Regalia Credit Card

• Best Suited for

Shopping and Travel

• Annual Fees

₹2,500 + GST

• Features and Benefits

• The HDFC Regalia credit card offers you 12 complimentary domestic airport lounge access and 6 international lounge access

• Get a bonus 10,000 Reward Points (RPs) on spending ₹5 lakh. In addition, you can get the chance to earn extra 5,000 RPs on spending ₹8 lakh in a year

• Earn 4 RPs on every retail spending ₹150

• Stay calm even when your HDFC Regalia credit card is lost or stolen as it comes with the zero lost card liability feature which lets you avoid payment of fraudulent transactions made on your card

• Get 24/7 Concierge Services on HDFC Regalia credit card

If you spend ₹3 Lakhs in a year, the renewal cost of ₹2,500 is waived. 

5. Amazon Pay ICICI Credit Card

• Best Suited for

Cashback and online shopping

• Annual Fees

Nil

• Features and Benefits

• Earn 5% cashback on Amazon India spends. This offer is exclusive to Amazon Prime members

• Earn 3% cashback on spending on Amazon India. This offer is exclusive to all consumers

• Earn 2% cashback on transactions made to more than 100 partner merchants on Amazon Pay

• Save 15% on dining bills at 2,500+ partner restaurants within India through the Culinary Treats Program

• Get 1% surcharge waiver on every fuel transaction

This co-branded credit card by ICICI Bank is one of the few genuine lifetime-free credit cards available in India that has no joining or yearly fees.

6. Flipkart Axis Bank Credit Card

• Best Suited for

Online shopping

• Annual Fees

₹500 + GST

• Features and Benefits

• Get joining and activation benefits worth ₹1,100

• Avail 5% cashback on Flipkart and Myntra and 4% cashback at preferred merchant outlets. In addition, get 1.5% cashback on other categories

• Get access to domestic airport lounges 4 times a year

• Save 20% on dining bills at select partner restaurants across the country

• Get 1% surcharge waiver on fuel spends at all petrol pumps in India

The annual fees of ₹500 will be waived if the Flipkart credit card holder spends over ₹2 Lakhs in a year.

7. HDFC Millennia Credit Card

• Best Suited for 

Cashback

• Annual Fees

₹1,000 + GST

• Features and Benefits

• Get 5% cashback on Cult.fit, Flipkart, Amazon, BookMyShow Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber, and Zomato

• Get up to 20% discount at partner restaurants

• Avail 1% cashback on all spending, including EMI & wallet transactions. This cashback benefit is not available on fuel spends.

• Win gift vouchers worth ₹1,000 worth on spends of ₹1 lakh and above in each calendar quarter

• Avoid paying for unauthorised transactions in the event of HDFC Millennia credit card loss or theft as this credit card offers zero lost card liability feature

If you spend ₹30,000 in 90 days, the ₹1,000 annual fee is waived off. If you spend ₹1 Lakh in 12 months, the ₹1,000 renewal cost is waived off.

8. Citi PremierMiles Credit Card

• Best Suited for

Air miles

• Annual Fees

₹3,000 + GST

• Features and Benefits

• Get lucrative offers and deals at various domestic and international locations with Citi PremierMiles credit card

• Earn 10 miles/₹100 on airline transactions and on www.premiermiles.co.in; earn 4 miles/₹100 on all other spending

• Secure your travel with Citi PremierMiles credit card as it provides Air Accident Insurance Cover of up to ₹1 crore and Lost Card Liability Cover of ₹10 lakh 

• Get access to major airport lounges across India

• Save up to 20% on dining bills across participating restaurants

For CitiGold clients who have the necessary Net Relationship Value with CitiBank, the ₹3,000 yearly fee is waived. The finance charges amount to 3.75% monthly or 45% annually.

9. HSBC Cashback Credit Card

• Best Suited for

Online shopping

• Annual Fees

₹750 + GST

• Features and Benefits

• Enjoy unlimited cashback on all spends

• Get 1.5% cashback on online transactions and 1% cashback on other spends

• Avail 5% discount on transactions of ₹1,000 or above on Amazon.in

• Get a flat ₹50 discount on postpaid utility payment of ₹500

• Get a 30% discount (up to ₹600) on EazyDiner

First, there is a  ₹750 annual fee. However, if the user spends more than  ₹1 Lakh, the fee can be waived. After you complete the payment, you have 45 days to repay the amount; after that, a monthly 3.33 percent revolving interest charge is applied to the remaining balance. Additionally, there is a charge of  ₹100 for the same credit card if you ever decide to replace it.

10. Standard Chartered Digismart Credit Card

• Best Suited for

Online shopping

• Annual Fees

Nil

• Features and Benefits

• Get 20% off at Myntra without worrying about minimum spending criteria

• Avail 10% discount at Grofers with no minimum spending restrictions

• You can make faster, secure payments with Standard Chartered Digismart credit card

• Get a 10% discount at Zomato with no minimum spending limit

• Get 1 movie ticket free on purchasing a movie ticket at INOX on weekends. This benefit is available for 2 transactions (₹200) each month

The fee of ₹49 will be waived off in the following month if you spend more than ₹5,000 in a calendar month. The fee of ₹49 will be eliminated in the following month if you use your Standard Chartered DigiSmart credit card for purchases exceeding ₹5,000 in a calendar month.

Some of the Best Credit Cards Based on Top Categories

The following table lists out some of the top credit cards in India based on top categories:

How to Choose the Right Credit Card

The availability of different credit cards in India and their features and benefits might cloud your judgement while choosing a credit card. Hence, it is advised to consider your spending habits or requirements and then select one. The following section mentions 5 steps that will help you to choose the right credit card.

• Step 1: Identify the Purpose of Availing a Credit Card

You may need a credit card for various reasons such as to save on fuel transactions, book flight tickets, book hotels, shop, etc. Building a credit score or converting your big-ticket purchases into affordable EMIs can also be one of the reasons to submit a credit card application. Hence, you must identify the reason for availing a credit card first and then proceed.

• Step 2: Shortlist Credit Cards

Once you have found the purpose of availing a credit card, you must start preparing a list of credit cards and shortlist the most appropriate ones for you. In such cases, you must adopt a strategic approach and find credit cards category-wise. At this stage, you must also conduct a comparative analysis and narrow down your list to 3 to 4 credit cards and follow the third step.

• Step 3: Know the Card-specific Eligibility

Once you have selected 2 or 3 credit cards, you must learn about the eligibility criteria. Though your demand can match with a particular credit card, your income profile or other factors may not align with the product-specific credit card eligibility criteria. Hence, you must again pick one or two credit cards with the best chances of approval.

• Step 4: Select the Right Credit Card 

At this stage, you must conduct a thorough comparison between your chosen credit cards and pick the one that offers maximum benefits. Do not forget to compare the options of upgrading the credit cards in the future. For this purpose, you can talk to the representative of the credit card issuing bank and get a clarification.

• Step 5: Apply for the Credit Card

By now, you must know which bank’s credit card is the best for you and at this penultimate stage, you can apply for the chosen credit card either online or offline as per your convenience. Do not forget to read the terms and conditions thoroughly and learn about dos and don’ts of a credit card.