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About Cash Back Credit Cards

Cashback credit cards give you the opportunity to earn each time you spend on your purchases, by giving you back a specific percentage of the amount spent in the form of cash rewards. Unlike traditional credit card reward programs that offer reward points or miles, cashback credit cards or money back credit cards give you a direct monetary benefit. The cashback may be offered as a statement credit or a direct credit to your linked bank account. 


When you use a cashback credit card to pay for an eligible purchase, you earn a predetermined percentage of the amount as a cashback. For example, your money back credit card may offer a 1% cashback on all online purchases. So, if you spend ₹10,000 on an online purchase, you will receive a cashback of ₹100.


The nature and percentage of cashbacks offered vary from one card to another. The cashback may also be different across categories of purchases. So, ensure that you read the terms and conditions before applying for a money back credit card. To maximise your rewards, it is best to choose a cashback credit card whose rewards align with the spends and purchases you regularly make. 

Some of the Top Cash Back Credit Cards in India

The cash back credit cards segment is over-beaming with numerous options. Take a look at some of the top cashback cards that you can currently apply for, in India.

1. Axis Bank ACE Credit Card

If you are looking for one of the best cash back credit cards that offer attractive cashback on utility bill payments and food orders, then the Axis Bank ACE Credit Card is the right choice for you. With an annual fee of just ₹499, you can get a plethora of benefits include a cashback. Check out some of the key benefits:

  • 5% cashback on bill payments and recharges on Google Pay

  • 4% cashback on booking rides on Ola, and ordering food on Swiggy and Zomato

  • 2% cashback on all other spendings


2. Flipkart Axis Bank Credit Card

The Flipkart Axis Bank credit card is a co-branded card designed to offer cashback on all purchases at Flipkart. With an annual fee of ₹500, it is one of the best cash back credit cards available in the market. With this credit card, you can unlock the following benefits: 

  • 5% cashback on shopping, on Flipkart and Myntra

  • 4% cashback at preferred merchants

  • 1.5% cashback on spending across all other categories


3. Cashback SBI Card

SBI's cash back credit card is a good option for those looking to earn rewards and save money on their daily transactions. What sets this card apart is that it doesn't have any restrictions on merchants, so you can earn cashback on any website you spend on. This is a rare feature as most cash back credit cards limit the eligible platforms. Here are some of its key benefits:

  • 5% cashback for online transactions

  • 1% cashback for offline transactions

  • 4 free domestic airport lounge visits per year (maximum 1 visit per quarter)

  • Annual fee waived for spending  ₹2 Lakhs in a year


4. HSBC Cashback Credit Card

The VISA Paywave technology incorporated into this globally accepted credit card allows you to make contactless payments and earn unlimited cashback on every transaction. With its balance transfer option, contactless payment feature, and zero annual fees, the HSBC Cashback Credit Card can help you save money and manage your finances more effectively.


Some of its key features include:

  • Cash back available on instant EMI at listed merchants

  • Up to 15% off at partner restaurants

  • 1.5% cashback for online spends (excluding transfers to online wallet)

  • 1% cashback for all other spends

  • No joining fees

  • Annual membership fees of ₹750 is reversed if total annual spend exceeds ₹1 Lakh

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Other Cashback Credit Cards

Apart from the cashback credit cards mentioned earlier, there are other such credit cards that may not offer immediate cash back benefits but instead allow the redemption of reward points for cash.

Cashback Credit Card

Annual Fee

Reward points to cash conversion rate

HDFC Bank Titanium Edge Card


100 reward points for ₹10 

IndusInd Bank Platinum Aura Edge Credit Card

No Annual Fees

1 reward point for ₹0.5

HDFC Freedom Credit Card


1 reward point for ₹0.15

IndusInd Bank Platinum Card

No Annual Fees

1 reward point for ₹0.85

HDFC Bank Platinum Edge Card


100 reward points for ₹10 

IndusInd Bank Legend Credit Card

No Annual Fees

1 reward point for ₹1

Difference Between Rewards & Cashback Credit Cards

Rewards credit cards and cashback credit cards, though frequently confused, are actually separate types of credit cards. 


To gain a better understanding of the differences between the two, please refer to the table below:

Rewards Credit Cards

Cashback Credit Cards

Rewards Credit cards accumulate Reward Points for every purchase made.

Cashback credit cards help earn cashback on card spends.

Redeeming reward points requires a specific website/portal or net banking access.

Cashback is automatically credited to your account, there’s no need to redeem the amount.

Reward points have an expiration date, so they must be used within a set time frame.

Cashback earned does not expire and can be used anytime.

Reward points can only be redeemed for specific categories/products listed on the bank's reward catalogue.

Cashback can be used to purchase anything you want.

Benefits of Cashback Credit Cards

Cashback Rewards

Several cash back credit cards offer cash back rewards on every purchase made using the card. The cashback percentage varies from card to card and can range from 1% to 5%. These rewards can add up quickly and can be redeemed for statement credits or other rewards.

Discounts on Specific Categories

Some cash back credit cards provide higher cash back percentages for specific categories such as dining, fuel, or groceries. This can help cardholders save more money on their everyday expenses.

Welcome Bonuses

Cashback credit cards often come with welcome bonuses, such as cashback rewards or extra points, for signing up and spending a certain amount within a specified time frame.

No Annual Fees

Some cash back credit cards waive the annual fee, making it a great option for those who want to enjoy the benefits of a credit card without paying any additional fees.

Travel Benefits

Many cashback credit cards offer travel benefits such as free airport lounge access, travel insurance, and discounts on flights and hotels.

EMI Options

Cashback credit cards offer EMI options that allow you to convert high-value purchases into easy monthly instalments with low-interest rates.

Online Shopping Benefits

Cashback credit cards offer exclusive discounts and cashback offers on online purchases from e-commerce websites, making them an ideal option for those who frequently shop online.

Features and Rewards of Cashback Credit Cards

Credit Card


Cashback Rewards

HDFC Moneyback Credit Card

  • 2 reward points on every ₹150 spent
  • Redeem reward points for cashback or other rewards

Up to 1.5% cashback

ICICI Bank Cashback Credit Card

  • 5% cashback on bill payments, grocery purchases, and fuel
  • 2.5% cashback on online spends
  • 1% cashback on all other spends

Up to ₹100 cashback per category per month

Standard Chartered Super Value Titanium Credit Card

  • 5% cashback on fuel, telephone bill payments, and utility bill payments
  • 1 reward point on every ₹150 spent Redeem reward points for cashback or other rewards

Up to ₹200 cashback per month

SBI SimplyCLICK Credit Card

  • 5% cashback on online spends at partner websites
  • 1 reward point on every ₹100 spent
  • Redeem reward points for cashback or other rewards

Up to ₹750 cashback per month


Eligibility Criteria and Documents Required for a Cashback Credit Card

At Bajaj Markets, the eligibility and documents needed to apply for a cash back credit card are simple as well as minimal. Let’s take a look!


1. Eligibility Criteria for Cash Back Credit Card

  • Nationality: You must be an Indian citizen

  • Age: Your age must range between 18 and 70 years

  • Employment Status: You must be a salaried or a self-employed individual

  • Other Criteria: You must abide by the bank’s income and credit score criteria


2. Documents Required to Apply for a Cash Back Credit Card

  • Proof of Address: Ration card, Aadhaar card, passport, or Voter’s ID (one copy)

  • Proof of Identity: Aadhaar card, PAN card, passport, or driving licence (one copy) 


Note: The above-mentioned eligibility criteria and list of documents are indicative. Depending on the money back credit card you choose, you might have to fulfil specific eligibility criteria or submit additional documents during the application process.

How to Choose the Right Cash Back Credit Card?

There are a few factors that you should consider to ensure that you opt for the best cashback credit card in India. Here’s a quick look at a few of them. 

  • Your Needs

The benefits offered by a credit card should align with your requirements. For instance, there are cards that offer great rewards for groceries and departmental store purchases. Similarly, there are others that reward you for fuel transactions. You should choose a card whose benefits match what you’re going to be using it for.

  • Annual Fees of the Card

Not all cash back credit cards come with the same annual fee. There are lifetime-free credit cards as well as cards that have an annual fee ranging from ₹499 to ₹1,499 and more. It is important to choose one whose annual fee you’re comfortable paying. 

  • Rate of Cash Back 

The rate of cash back that you’re eligible for varies depending on the card that you choose. The higher the rate, the more the savings. So, when shopping for the best cashback credit card, make sure to get one that offers a high rate. 

  • Accelerated Rewards 

Some of the best cashback credit cards offer accelerated cash backs on certain specific transactions. It is advisable to opt for the ones that offer such bonus rewards since they can help you maximise the cash back that you get to receive.

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How to Apply for Cash Back Credit Cards Online?

If you want to apply for a cash back credit card, Bajaj Markets is the right place to start the process. Follow these steps to complete your application procedure for a cash back credit card.

  • Step 1: Visit the official Bajaj Markets website.

  • Step 2: Hover on the ‘Cards’ section and click on the ‘Credit Card’ option.

  • Step 3: Browse through the various cash back card options available on the website and click on the one that you wish to apply for.

  • Step 4: Click on the ‘Apply Now’ button and fill the application form with all the requested details.

  • Step 5: Attach all the relevant documents and submit the application form.


That’s it! You have now successfully applied for a cash back card.


The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees and charges with regard to any credit card, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior to taking any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, trade names, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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FAQs on Cash Back Credit Cards

Both the cashback and rewards program follow the same concept, which is to incentivise you for using the credit card. You can come across certain cards that will allow you to convert the reward points into cash. On the other hand, you can find some reward credit cards that will allow you to convert the same into miles. The latter type of cards can prove to be beneficial if you travel frequently. Therefore, you must select a card based on your needs.

Any credit card would be worthy if you at least get the advantages that are equal to the annual fees paid. Since the majority of cashback cards come with a low annual fee, you can assuredly secure benefits by spending wisely on eligible products. You should always pay your bills on time so that you can realise the benefits instead of losing them on charges or late payment fees.

You can consider adding a cashback credit card to your wallet if your rewards card does not cover a particular spending category. Since cashback credit cards come with low or no annual fee, availing one will not burden your pocket.

Yes, the received cashback will be credited to your credit card account.

A rewards credit card is a good choice only if you stick to your budget and pay off the outstanding balance in full each month. Otherwise, you will not get the deal. So, if you pay off your balance in full each month, then a cash back or a money back credit card may be a wise choice.

Yes, it is possible to maximise cash back on a credit card. Make sure you read the terms and conditions thoroughly before buying the card. For instance, some cards may offer high cashback only if you shop at participating merchant outlets. If you don't shop at those outlets, the card won't have any value to you, no matter how big the rewards are.

It is up to you to decide which one is the best cashback card for you. That said, Axis Bank ACE credit card comes with a valuable cash back benefit

Rewards credit cards and cash back credit cards provide entirely different benefits. For instance, when you use a rewards credit card to make purchases, you get reward points. Once you’ve accumulated enough of them, you can choose to redeem the points in favour of discount coupons and e-vouchers. On the other hand, when you use a cash back credit card, a percentage of your transaction value is credited back to you.

So, even if you already have a rewards credit card, you may still choose to apply for a cash back credit card as well.

Although a cash back of 2% may not sound enough, the amount of savings that you would get to enjoy will add up in the long run. As a matter of fact, in many cases, cash back credit cards offer higher savings than other kinds of cards.

Many cash back credit cards tend to offer a higher rate of cash back for certain specific transactions. So, to maximise the amount of cash back, make sure to use your credit card to pay for transactions that are eligible for bonus or accelerated rewards.

Depending on the terms and conditions of your money back credit card, you may receive your credit card cashback as a statement credit or as a bank credit. If you receive it as a statement credit, you can use the cashback amount to lower the current outstanding balance in your credit card. However, if the cashback is credited to your bank account, you can use it like regular cash.

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