10 Best Credit Cards In India 2017 : Review !
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Stay tuned and keep reading further to have deeper insights on ” 10 Best Credit Cards in India “ !
India is moving towards a cashless economy or we should say a Digital economy.“Demonetisation” has been a massive step taken in this regard by the Government to lead the country on the path of “digitisation”. However,it may take some time in this conversion, the foundation has already been laid. And,if things go in the desired manner, we might get to see a new ” Digital India” in the year 2017.
Now,how can you do cashless payments ? What are the various modes for doing cashless transactions ?
Simply stated, Cashless payments can be done through any of the following modes like :
Cheque, Demand draft, Electronic transfer of funds : NEFT or RTGS, UPI Apps, E-Wallets,Mobile Wallets, Credit Cards, AADHAR Enabled Payment System.Many of you might already be aware of the above ways of making payments and already using them as well.
Through this blog we shall be discussing about one such cashless mode of making payment : CREDIT CARDS IN INDIA !
There might be a number of good credit cards in India based on ones needs and usage.We shall be sharing our views on a hand picked list of “10 BEST CREDIT CARDS IN INDIA”.
Credit cards are an easy and convenient way of making payment. You don’t need to carry any cash. Just a small card i.e. your credit card needs to be taken along whether you go for shopping,travel or any other place and for any payment of yours. You can easily make payments through credit cards at most of the places.
We all love using credit cards, especially after the recent ” Demonetisation” drive, an increasing trend has been seen in the no. of credit card payments.
But,few things that worry us are : Which credit card to choose ? Which are the best credit cards in India ? How to select the best credit card for yourself ? You tend to get confused, when it comes to taking a decision regarding selecting a credit card.
So,we have done a thorough research on the plethora of credit card options available in India. We shall give you an idea on the different credit cards available and general unbiased views based on our experiences,comparisons and feedback from some customers.
So,depending upon your usage and the benefits being offered, you can make your choice from the list of “Best credit cards in India “.
10 Best Credit Cards in India 2017 Review :
We have tried to cover the major points of some of the best credit cards available in India.These proved well for different kinds of users in 2016 and we hope they will further continue doing so in the year 2017.
Happy customers and their valuable feedback has been a major criteria of our review.Of course personal usage of few of them has also been the basis of our review.
The common ones and favourites of most of the users, that emerge as clear winners out of the massive list as discussed in detail below are :
Best Credit Cards in India for Shopping
1. Citibank Rewards Credit card : Good for online shopping freaks like me ! The complete details have been discussed below. No joining fee ! You can enjoy annual fee waiver also if Annual spending > Rs.30000 plus a bunch of rewards at various departmental and apparel stores, dining outlets and restaurants.
2. Standard Chartered Manhattan Platinum Credit Card : Great for earning cashback on grocery plus some really attractive benefits while shopping ! You surely need to check this one out !
Best Credit Cards in India with No Joining fee and No Annual Fee + Rewards :
1. Standard Chartered Platinum Rewards Card : No Joining fee and annual fee. This one is indeed one of my favourites since it bears no additional cost. That’s really cool ! If you are looking for a free credit card, this is one of the best choice you can make that too free of cost.
2. Citibank Rewards Credit Card : It has no Joining fee so this one again qualifies in this category of credit cards. Isn’t that Great ! You also get annual fee waiver if your spending >= Rs.30000 during the year. Even a common man is likely to incur around Rs.30000 during the year so you can easily avail the annual fee waiver benefit.
3. Amex MakeMy Trip Credit Card : It has an annual fee but comes packed with multiple rewards and privileges that can be in the form of Welcome gifts, Payback points, Cashback or vouchers. Looking at the name itself you can judge that you are likely to enjoy certain exclusive MakeMytrip offers. Not only a cashback and a rewards card, but this one is a great choice for travel freaks offering flight discounts, hotel stay discounts and so on.
When it comes to getting reward points,there is another good one from AMEX that you can checkout, Amex Membership Rewards Credit Card.
Now, let us discuss, some of the Best Credit Cards in India one by one to make it easy for you to decide the right credit card for yourself.
Best Credit Cards in India for Shopping :
1. Standard Chartered Manhattan Platinum Credit Card :
This credit card is good for Shopping/Dining out/grocery purchase and earning cash back and reward points as well.
In our survey, we found that a lot of customers are fond of this card.What is is so special about it ? Let us analyse the benefits and other details.
Key Benefits :
- Annual fee : The annual fee for Year 1 is Rs.499 only and the annual fee for year 2 onwards is Rs.999 only. But,if you spend in excess of Rs.30000, you shall get a joining fee waiver as well, as we got feedback from few customers.
- 5% cashback on shopping in supermarkets and departmental stores : We all need to spend a good amount on groceries every month. Here,is a major plus point, you get 5% cashback if you shop for groceries from stores like Reliance fresh,Big Bazaar,More,Food Bazaar etc. After all you might have heard “A penny saved is a penny earned “ right.
- Reward Points : 5x Reward points when you spend on paying hotel bills,dining,airline tickets and fuel bills.
- Other Cashback : Everybody loves getting a cashback on your purchases. You can earn upto Rs.500 cashback monthly restricted to Rs.150 per transaction.But,wait…firstly you will have to make a purchase of minimum Rs.1000 for availing this cashback facility.
- ATM withdrawal fee : 3% of cash withdrawal amount subject to a minimum of Rs.300.
- Overseas transactions are levied 3.5% transaction fee
- Monthly Interest Rate is 3.1% per month.
- Other Convenient payment options.
This might be a good option for salaried class, small traders, housewives and people who love spending a lot on groceries and dining out frequently. It is good for people whose annual spending is Rs.1 – 2 lakhs.
2. SBI Simply Click Credit Card :
An ideal card for Online Shopping. This card has its main focus on e-commerce and offers numerous benefits and rewards to the online shoppers. So,if you are an online shopping freak, you make the best use of this credit card to fill your online shopping basket.
Key Benefits :
- Annual fee : The joining fee is Rs.499 only and the annual fee is also Rs.499 only from 2nd year onwards.
- You get to enjoy 10X rewards on online spends with exclusive partners like Amazon, BookMyShow, Cleartrip, Foodpanda, Ola Cabs,Fabfurnish, Zoomcar etc. (A whole lot of attractive offers for you ).
- You also earn 5X rewards on all other online shopping.
- If annual spending exceeds Rs.1 lakh, the annual fee of Rs.499 gets waived off.
- An additional benefit in the form of Amazon gift voucher worth Rs.500.
- 2.5% waiver of fuel surcharge on transaction between Rs.500 and Rs.3000.
This seems to be a good credit card for the ones who love shopping online. If you have it, enjoy saving some money thereon through reward points and gift vouchers.
Best Credit Cards for Cashback and Rewards :
Citibank Rewards Credit Card, as the name suggests, is a credit card that is good at offering reward points that can be redeemed easily for exciting gift vouchers and other offers as available.
Key Benefits :
- Citibank Rewards Credit Card has no joining fee. This is an attractive offer for any credit card user.
- If your annual spending >=Rs.30000 then you can get the annual fee waiver as well. Otherwise, the annual fee is Rs.1000 only.
- You earn 10 reward points for every Rs.125 that you spend on apparel and departmental stores. You can also pay with your reward points while shopping both at 700+ outlets and e-shopping sites also.
- You earn 1 reward point for every Rs.125 on all other purchases that you make.
- You can also avail .75% fuel surcharge waiver for the fuel purchase that you make through your Citibank Rewards Credit Card.
- Citibank Rewards card is an international credit card that can be used globally i.e. in India and abroad.
A good card for offering a whole range of reward points plus the Nil joining fee is an added advantage on this credit card.
4. Citibank Cashback Credit Card :
This is a good credit card for earning cashback rewards and paying utility bills online.Some benefits in store for movie freaks as well.
Key Benefits :
- Annual fee is Rs.500 only.
- If you love watching movies frequently,this can give you 5% Cash Back on movie ticket purchases.
- You get 5% cash back on your utility bill payments like electricity bills.
- You get 5% cash back on telephone payments.
- 0.5% cash back on other amount spent.
- Please note that cash back is restricted to Rs.100 per month for each category mentioned above.
But, its not so easy to get this card issued. You need to have a good credit history to get your Citibank credit card approved. But, once you get it, you are all set to enjoy the various benefits like cash back and easy bill payment facility.
American Express or Amex MakeMyTrip credit card comes packed with multiple rewards and privileges that can be in the form of Payback points, cashback or vouchers.The name itself signifies that you are likely to enjoy certain MakeMytrip offers.However, looking at the benefits and rewards spending a nominal fee doesn’t hurt provided you avail the maximum benefits.
Key Benefits :
- The first year fee of this credit card is Rs.750.The annual fee second year onwards is RS.1500 only.
- You can earn 2 PAYBACK Points on every Rs.100 that you spend upto a total of 5 PAYBACK Points for every Rs. 100 that you spend on MakeMyTrip.
- You also enjoy multiple PAYBACK Points across more than 50 PAYBACK partners.
You also get 3% cashback at leading fuel stations through your AMEX card.
- You can enjoy 5% cashback on the MakeMyTrip bookings that you do through your AMEX credit card.
- You also get limited period offers like 70% cashback on your hotel bookings till 30th September 2017.
- Certain additional offers also prevail like you get a MakeMyTrip voucher worth Rs.2,000 if you on spend Rs. 1.25 lacs and an additional MakeMyTrip voucher worth Rs.5,000 if you spend Rs.2.5 lacs during the year.
This might be a good fit for the ones who wish to earn great cashback plus are fond of travelling since there are a lot of payback offers and travel,hotel bookings vouchers that you get from time to time.
6. Standard Chartered Platinum Rewards Card :
This is a good alternative for salaried people who look for credit cards with no annual fees.
Key Benefits :
- There is no joining fee and annual fee.NIL annual fee is the biggest attraction for getting this credit card.
- You tend to earn 5 reward points for every Rs.150 spent at dining outlets.
- 5 reward points for every Rs.150 spent on fuel.
- Earn 1 reward point for every Rs.150 spent on other categories.
- You can also enjoy 20% cashback on Uber rides (maximum of Rs.600 per month).
There is a whole lot of special cashback offers and additional reward points well, if you make payments through this credit card. If you are a salaried employee its quite easy for you to get this credit card. A free card that too with a lot of benefits.
* Standard Chartered Manhattan Platinum Credit Card :
Standard Chartered Manhattan Platinum Credit Card is a good option with great cashback offers and reward points. The details and benefits have been already been discussed above. You can check the same.
7. HDFC Bank MoneyBack card :
This card is basically designed for people who want to earn money while shopping. The cash back and rewards attracts a number of shopaholics. You get rewards points on all kind of purchases.
Key Benefits :
- No annual fee for this card. However,the annual fee might vary from one applicant to another.
- You also get to enjoy an interest free period of upto 50 days from the date of your purchase.
- You will get 2 reward points on every Rs.150 spent (Retail purchases).
- 2x reward points on other online spends.
- 100 rewards points = Rs.30. You can redeem reward points as cash back.
- Fuel surcharge waiver upto a maximum of Rs.250 for every billing cycle.
Best Credit Cards for Travel :
Amex Makemytrip credit card is not only good for earning rewards and payback points but also gives you exciting Welcome offers/ discounts/vouchers through MakeMyTrip. You get to enjoy the welcome gifts that are in the form of MakeMyTrip Vouchers.
Further you also earn 5% cashback on your MakeMyTrip bookings. Rest of the details of Amex credit card have already been elaborated above.
Also,checkout American Express Membership Rewards Card and enjoy numerous benefits attached to it.
8. Yatra SBI Credit Card :
This credit card is good for Travel and Utility Bill payments as well. The holiday season is on, you must have at least one travel credit card in your pocket.
Now,this one card seems to serve good for regular travellers since you have some great offers at Yatra.com if you use your credit card to book tickets.
Key Benefits :
- Annual fee : Rs.499 joining fee and Rs.499 from year 2 onwards.
- Finance charges or Interest of maximum 3.35% per month from transaction date.This amounts to 40.2% per annum.
- You receive a Welcome gift of Yatra.com vouchers worth Rs.8250. Isn’t that amazing ! If you are a travel freak you will definitely enjoy this offer.
- The annual fee gets waived off if your annual spending exceeds Rs.90000.
- You also get 6x reward points at Yatra.com, departmental and grocery stores.
- Additional 6x bonus points on base fare at yatra.com
- 2.5% waiver of fuel surcharge on transaction between Rs.500 and Rs.3000
- But,maximum surcharge that is waived is Rs.100 per month only.
- This is internationally acceptable and can be used worldwide with much ease.
- You can pay your utility bills on time by using the “Easy Bill Pay” facility.
So,the frequent travellers or the ones who keep on travelling a lot officially or personally on vacations, this might be the ideal choice for you.
9. Citibank Premier miles Card :
This is one credit card for the frequent flyers. You earn miles on the amount you spend and redeem them for your flights,hotel stays and car rentals.
Key Benefits :
- Annual fee : The annual fee is Rs.3000 billed in the first month statement.
- Interest rate ranges between 37.20% to 42% per annum based on different parameters like amount spent,credit limit used and repayment patterns etc.
- You earn 10,000 miles with your first spend of Rs.1,000 or more within 60 days of Card issuance
- You earn 10 miles for every Rs.100 that you spend on your airline transactions.
- You earn 10 miles for every Rs.100 spent on premiermiles.co.in and with other selected partners.
- You can redeem your miles at over 100 airlines both domestic as well as international.
- 100 miles = Rs.45 with preferred partners like goibibo.com, yatra.com, Indigo.
- If you fly domestic or international, you can enjoy to participating premier Airport lounges across India.
If you are fond of travelling and can afford to pay a high annual fee, this might be a perfect fit for your wallet. This might suit the ones whose annual travel cost ranges from Rs.2-3 lakhs.
Best Credit Cards in India for paying Utility Bills :
10. SBI Gold Credit Card :
This is a good card for paying your electricity,mobile,telephone and other utility bills and insurance through the “Easy Bill Pay” facility.You will get to access easy features like autopay and fast pay to help you clear your utility bills on timely basis.
Key Benefits :
- Annual fee : The joining fee is Rs.299 and the annual fee also amounts to Rs.299.
- Interest is charged @ 3.35% per month that amounts to 40.2% annualized.
- Flexipay gives you the facility to make payments in instalments on monthly basis.
- This is accepted worldwide and can be used at millions of outlets.
- Easy booking of railway and airline tickets.
This card is truly designed to meet your utility needs. There are not many rewards attached to it,but the other benefits attached make it an attractive option.
* Citibank Cashback Credit Card :
This is a good credit card not only for earning cashback and rewards but also for paying utility bills online. The benefits and features of this credit card have already been discussed in detail above.
You can also have a look at our review on Best Citibank Credit cards India
* Yatra SBI Credit Card :
Yatra SBI Credit card is also good for paying utility bills.The key benefits of this card have already been discussed in detail above. So,Yatra SBI Credit card is also a good option to meet your utility bills like electricity,mobile and telephone etc.
You need to be very cautious and study each and every credit card offer carefully before opting for any one.
The annual fee and charges may vary due to certain promotional offers or other reasons. Kindly check the same while applying for a credit card with the respective banks/companies.
You should have a stable source of income to get yourself a good credit card. Banks normally check your credibility and financial background before issuing you credit card of your choice.
If you are found eligible, you are easily issued the credit card of your choice. You can anyways work upon improving your credit score to get the “Best credit card in India” that suits your needs.
A Final Note :
You might be familiar with this saying that ” Excess of anything is not good “. So,don’t just unnecessarily overflow your wallet with a number of credit cards getting attracted by the special offers they provide.
Don’t make excessive use of your credit cards. Use them only as and when necessary and avoid creating any extra debts for yourself. Excess usage shall only add to your financial burden.
The credit card interest rate is usually high, so avoid any credit card debts by your side.
Clear your credit card bills on timely basis so as to make yourself free from any financial debts and live a financially free life !
Just keep in mind that, you need to be cautious while choosing a credit card for yourself. Take an informed decision after analysing all the features and benefits the credit card shall offer you. Focus on important areas like annual fee and interest rate for taking a good decision.
Hence, based on your usage and priorities like shopping online or shopping in the market/malls, for travel or for utility payments, to get attractive cashback offers and so on. Checkout, Why are you exactly looking for a credit card ? See to it and choose the credit card that perfectly suits you.
A lot of changes might be seen in the coming days. A number of incentives are being introduced to encourage people to contribute their part in the digital world and begin their digital journey, if they have not done it so far.A great emphasis is being laid on shifting India to a less cash economy where financial transactions are done through modes other than cash.
Which credit card you have got for yourself ? Do share the benefits and drawbacks of the credit card that you are using.Your valuable experiences and genuine feedback shall be of great help to our readers.
Some of the great and unbiased responses that you give in the comment section below shall be included in our blog post itself.
The details are on “as is” basis collected from the respective credit card websites. There might be changes in the features and benefits of different credit cards from time to time.Please check all the Terms and conditions (T&C) carefully with the respective banks/companies before applying for any of the credit cards in India.
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