Apply for a credit card by comparing the best credit cards online. You can find credit cards offered by Top banks along with their features, benefits, fees, and latest offers, everything at a single place.
Updated on - 17 May 2022
Since there are many categories of credit cards, it may be difficult to choose the best credit card for you. Here is a list of the top ten credit cards and is based on the different categories they fall under.
|RBL Bank BankBazaar SaveMax Co-branded Credit Card||Reward Points|
|FinBooster: YES BANK – BankBazaar Co-branded Credit Card||Reward Points|
|IndusInd Platinum Card||Fee Waiver|
|IndusInd Platinum Aura Edge Visa Card||Lifestyle|
|Citi Cashback Card||Cash Back|
|Citi Rewards Card||Rewards|
|IndianOil Citi Credit Card||Fuel|
|HDFC Diners ClubMiles Card||Lounge Access|
|HDFC Freedom Card||Reward Points|
|Axis Bank Neo Credit Card||Shopping and Movies|
|HSBC Platinum Credit Card||Travel and Dining|
|Kotak PVR Gold Credit Card||Movies|
|Welcome Gift||Many banks offer a welcome gift to new credit card applicants once the card is issued to them in the form of bonus reward points, vouchers, discounts, etc.|
|Rewards Program||All credit cards generally have a reward program, which allows cardholders to earn reward points on every transaction they make using their cards.|
|Fuel Surcharge Waiver||Banks offer a fuel surcharge waiver to the cardholders on spending a specific amount of money on fuel every month.|
|Cashback Benefits||Many credit cards offer cashback benefits to the customers.|
|Lifestyle Benefits||Cardholders can enjoy various lifestyle benefits on their credit cards such as offers on dining, shopping, wellness, entertainment, etc.|
|Travel Benefits||Travel benefits of credit cards include air miles, airport lounge access, travel insurance, airline offers, hotel offers, etc.|
|Airport Lounge Access||Some credit cards offer complimentary airport lounge access to the cardholders. The offer varies from one bank to another.|
|Add-on Cards||Many banks allow their credit cardholders to apply for add-on credit cards for their immediate family members.|
|Insurance Coverage||Some premier cards provide a comprehensive insurance policy that provides coverage against air accident, life, lost baggage, lost card, outstanding, etc.|
|Balance Transfer||Credit cardholders can transfer the outstanding balance of their existing cards issued by one bank to the credit card account of another bank.|
|Global Acceptance||Today, most credit cards that are issued in India are international credit cards and are accepted by various merchants all over the world.|
|EMI Conversion||The feature allows the credit card members to convert their credit card transactions into easy monthly instalments (EMIs).|
|Credit Score||Owning a credit card helps you build a healthy CIBIL score. By making timely payments on your card and in full, you receive a positive credit score from credit bureau, CIBIL.|
The eligibility criteria of a credit card are dependent on a range of factors. Check out the primary eligibility criteria for credit cards
|Employment status||Salaried or Self-employed|
|Income||Depends on one bank to the other|
|Credit Score||Good credit score (700 and above)|
Applicants can submit any one of the ID proof, address proof, and income proof documents listed below.
|Requirements||Salaried Individuals||Self Employed|
|ID Proof||Passport, Permanent Account Number (PAN) card, Aadhar card, Voter’s ID||Passport, PAN card, Aadhar card, Voter’s ID|
|Residential Proof||Aadhar Card, Electricity Bill, Telephone bill||Aadhar Card, Electricity Bill, Telephone bill|
|Income Proof||Salary Certificate, Recent Salary slips, Employment Offer Letter||Certified Financials, Recent Income Tax Returns (ITR) Statement, Passport|
You can apply for a credit card, both online and offline. Due to the COVID-19 pandemic, the credit card application process has been digitized, making it simpler and faster.
You can Compare & Apply for a Credit Card on BankBazaar by Following 4 Simple Steps:
Alternately, you can also apply for a card online on the bank’s website by following these steps:
Note: Each bank may have a different application procedure. Visit the bank's website for more details regarding how to apply for their card online.
BankBazaar offers an end-to-end application process, wherein you can browse through most of the credit cards offered by various banks, compare and apply for the best credit card in just a few clicks.
Let's look at the perks that we offer for applying for a credit card through us.
The following are some of the important tips on how to use a credit card:
If you have more than one credit cards, ensure you are using the right one based on your needs. For instance, use a travel credit card if you spend a considerable part of your income on travel such as booking flight tickets, hotels, and more. This way you can earn reward points.
One of the best ways to use credit cards is converting your purchases into EMIs and repay the bills as per your convenience.
Many lenders allow its credit card users to convert their unutilized credit limits into personal loans at a nominal interest. This helps credit card users to meet their urgent needs in no time.
Credit cards offer 2x reward points when you purchase online.
Banks allow its credit card users to redeem their reward points to get discounts on hotel bookings, flight tickets, etc. These reward points provide exclusive shopping vouchers, cashbacks and recharge voucher to the users.
Shopping Credit Cards are typically affordable with an annual fee starting from Rs. 500. The benefits offered on the cards including the welcome gifts, reward points, deals and discounts, etc., revolve round the shopping category.
Lifestyle Credit Cards typically come with a high annual fee and joining fee, which of course, is worth spending for the privileges offered by the cards. Some cards also have low or no annual fee and are designed for low-income group individuals.
Fuel Credit Cards provide accelerated reward points on fuel spends, fuel surcharge waiver facility, reward points redemption against fuel purchases, and other value back benefits, enabling users to keep fuel costs under check.
Rewards Credit Cards offer accelerated rewards on most of the spending categories. Credit card issuers provide a wide variety of redemption options ranging from gifts to air miles to cashback.
Cashback Credit Cards offer cashback, cash rebates, and other money-saving benefits on most of the credit card spend.
Mostly providing air travel benefits, Travel Credit Cards are best suited for frequent travellers. The features and services offered on the cards revolve around air travel.
A Credit card statement or (credit card bill) is generated every 30/31 days. The bill generation date depends on the date on which the card is first issued, and the same date will be followed for the subsequent months.
Besides the bill amount which is also called the outstanding amount on the card, the statement also provides a detailed history of all the transactions conducted during the billing period.
It also reflects the total credit limit, available credit limit, cash limit, due date, and other related information. The statement is typically mailed to the cardholder’s registered e-mail address every month. However, if the total outstanding balance is less than a certain cut-off, say Rs. 200, no statement will be generated.
In India, you cannot transfer money directly from your card to other bank accounts. However, you can always use third-party websites and apps to do the same. You can transfer money to other bank accounts using your debit card. This can be done via net banking and mobile banking.
The reward point system of credit cards allows you to earn reward points every time you spend on different purchases. The accumulated reward points can be redeemed for merchandise, air miles, gift vouchers, or cash. The reward points have an expiry date and the minimum points needed for redemption differs from one card to another.
Generally, the rejection of your application for a credit card will not directly impact your CIBIL score. Your CIBIL score is largely affected by default in payments and an unstable income source. You can always reapply for a new card once you have understood the reasons why your credit card application was rejected the first time and rectify the same. This can be done by paying off all dues.
Fraudulent credit card transactions are very common in today's world. Through credit card skimming, phishing, and vishing, your credit card information can be stolen and used without your knowledge. You need to be very alert about any suspicious email and calls that you may receive. You have to report any fraudulent credit card transactions to your bank at least within two days of the event from happening. A few banks also allow you to block your credit card online. Keep in mind that with the growing cases of cybercrimes, you need to be very careful as to where and to whom you give your credit card information.
Credit cards are an essential financial tool that enables its holders to make purchases and have the luxury of paying back the amount later. A credit card comes with a bank-approved credit limit, and the holder must pay back the amount due on the due date, which is mutually decided by the bank and the holder.
A credit card gives you a line of credit and you can use this to make balance transfers, all kinds of purchases, and cash advances. You will have to pay back the amount by the date specified by the bank. When you use a credit card, you have to keep in mind the minimum payment to be made every month by the due date.
This is the maximum amount that one can spend on their card. When you have a high limit for the credit card, it allows you to spend more and this will help your credit scores.
Yes. You can apply for a credit card online, once you go to the website of your preferred bank, or you can conveniently compare options and apply for one on BankBazaar.
A credit score above 750 is ideal to be able to get a credit card.
Even if you do not have a job and have a pretty substantial cash inflow into your account every month or so, you are eligible for a credit card.
Yes. Due to the online application system, your credit card application could be approved in one day. However, you will not get the physical credit card in one day.
Yes. A lot of credit cards come with access to domestic and international lounges at airports.
Yes. Most credit cards come with a reward point system, where you earn a point every time you spend a said amount of money. You can then redeem these points for vouchers, cashback, or air miles.
If you already have a credit history, you can check your eligibility, choose a card that suits your lifestyle needs and apply for it on BankBazaar. If you do not have a credit history, you can opt for a secure credit card usually offered against fixed deposits.
The number, one should own is not fixed. It depends on your financial ability and your spending behaviour. However, ensure to manage all the cards properly.
Credit scores above 750 are generally deemed as good for credit card approvals. Scores below 750 are usually considered poor, and approval may be subject to providing security (collateral such as fixed deposits).
The best and the easiest way to get a credit card is to apply for it on a platform like BankBazaar. You can compare the features, benefits, fees, interest rates etc. and then choose a card that best suits your needs.
No. You don't have to pay interest on all the transactions. However, if you're not repaying the due amount within the stipulated time, the unpaid due would attract interest along with all the new transactions, till the due amount is repaid in full.
The minimum amount due is the minimum amount a credit cardholder needs to pay in case he/she is not able to pay the total outstanding. It is typically 5% of the total outstanding amount on the card.
Yes. Banks do charge processing fees for loans against credit cards. However, you need to pay a very nominal amount as a processing fee.
Credit cards are automatically renewed towards the end of the expiration period. A renewed card with a new expiration date is usually a month before the existing card's expiration.
Credit cards issued in India are usually valid for a period of 3 years.
The renewed card usually has the same number as your expired card, but the new card's CVV (Card Verification Value) number is different.
It depends on your card type. If your credit card is accepted globally, you can use it in other countries as mentioned by your card issuer. However, a certain fee known as the foreign transaction fee will be charged for all the purchases made abroad.
It depends on various factors - the number of days late, the number of instances and the amount due. Based on all this your credit card issuer would take a call about whether or not to report the same to the credit agencies.
Yes, you can always reopen a credit card account if it is closed. How long ago you closed the credit card account will be taken into consideration by the credit card issuer. However, keep in mind that there is no guarantee that the issuer will allow you to reopen the account.
Almost all credit card issuers will not charge you any fee if your credit card hasn't been used for months. It is unlikely that they will charge you an inactivity or dormant account fee. Inactivity fee is generally charged on deposit accounts, but this will depend on the credit card issuer.
You do not have to use your credit card every month, but you need to use it often to avoid the bank from labelling it as an inactive account.
Different banks will charge different fees. Typically, the charge will range from 2.5% to 3% of your transaction amount. This will be subject to a minimum amount of Rs.250 to Rs.500.
When you lose your credit card, you need to notify the bank immediately and they will block your account.
The four major credit card networks are American Express (Amex), Discover, Mastercard, and Visa.
Yes, you can use your credit card without a PIN. A PIN is required if you plan to use the card for cash advances at ATMs.
Yes, you can always get a credit card without having a credit score. However, the bank will charge a higher fee. Usually, banks accept a CIBIL score in the range of 700-750 and above to issue a credit card.
This process is also known as cash advance. The maximum amount that you withdraw from an ATM using your credit card will be set by the bank. Keep in mind that this is generally capped at up to 30% to 40% of your credit card limit.
You must be at least 18 years old to apply for a credit card.
In case you apply for a credit card online, the approval process may be completed within a day.
You can use international credit cards in India if the service is available by the bank. You can always contact the bank to know more about using your international credit cards in India.
Yes. You can set a transaction limit for your credit card. You will have to contact the bank credit card customer care to set the limit.
You can reach the credit card customer care of a bank by calling their customer care number or by writing to the customer care email ID.
You can easily disable or enable international transactions either by contacting the bank customer care or via online methods - the website or the bank app.
You will have to submit a form to change the phone number of your credit card. For some banks you can change your number online and for a few banks you will have to visit the bank.
Yes. You need to get an NOC against your credit card.
An EMV chip credit card works with all payment acceptance devices. These have to be certified and compliant with EMV chip-and-PIN standards. When a transaction is made, you will insert the card into the terminal and the card reader and the chip will communicate and authenticate your transaction.
The credit card issuer will decide the credit limit for your credit card by looking into a lot of factors like your repayment history, credit score, etc.
Yes, the bank can charge between 1% and 4% for an international transaction.
A CPP is a service which will protect your credit card from loss, theft, fraud, etc.
SpiceJet, an Indian airline, and Axis Bank, India's third largest private sector bank, have teamed together to introduce the most rewarding co-branded credit card powered by Visa, which will provide consumers with a variety of perks and incentives. SpiceJet Axis Bank Voyage and SpiceJet Axis Bank Voyage Black credit cards are designed to provide passengers with a superior travel experience through SpiceClub, India's first frequent flyer club.
The Union Minister for MSME, Shri Narayan Rane called field officers for reaching targets of growth of MSME. While addressing the National conference of MSME- Development Institutes, Testing Centres and Technology Centres, he had announced that the conference would contribute to shape the vision of Aatma Nirbhar Bharat.
During the conference, he launched the second phase of MSME RuPAY Credit Card in partnership with National Payments Corporation of India (NPCI) and four other banks- Bank of Baroda, Kotak Mahindra Bank, HDFC Bank, and SBM Bank (India).
The neobanking platform, Stashfin launched its #LiveBoundless which is a credit line card for women. This is one of India’s leaders in the space of neo-banking. The card offers welcome credits, cashback rewards, and free ATM withdrawals. There are a lot of value-added services like 1% cashback and benefits up to Rs.5,000 during the first year.
Axis Bank’s slippage ratio when it comes to the credit card portfolio is now under control although the lender suffered a bit during the lockdown. Now, the bank wants to expand its portfolio and the impending entry of non-banking financial companies (NBFCs) into the field is not a hamper for them.
Mastercard, in collaboration with Indian fintech unicorn CRED launched a campaign which will enable Mastercard credit card holders to make secure and simple rent and tuition payments for housing expenses using the CRED app. Mastercard has announced that cardholders will now enjoy the convenience of high value transactions along with exclusive cashback and credit card rewards.
With the interest of the customers, the RBI has released new credit card regulations and suggested that the customers should be able to change their billing cycle. The billing cycle is the regular time between closing dates of two consecutive credit card bills that are raised by the card-issuer. The same will be in effect from July 1, 2022.
Apple has stopped accepting debit and credit card payments in India. The tech giant will also not accept credit card payments from Indian banks for advertising campaigns on Apple Search. All campaigns will be halted on 1 June. This change is the outcome of the Reserve Bank of India's (RBI) new auto-debit rules, which went into effect last year and are disrupting recurring online transactions.
A new set of rules have been issued by the Reserve Bank of India for credit and debit card operations. The rules will be effective from 1 July 2022. The new rules have been designed to protect the customer's interest and make the transactions more secure.
A new set of rules have been issued by the Reserve Bank of India for credit and debit card operations. The rules will be effective from 1 July 2022. The new rules have been designed to protect the customer's interest and make the transactions more secure.
Fintech firms that are betting on co-branded credit card are worried that latest Reserve Bank of India (RBI) rules on credit card issuance will cut off their access to customer transaction data. A co-branding partner entity's role is limited to marketing and customer acquisition under the guidelines.
A former US-based alternative investment company KKR & Co. has introduced a credit card based fintech startup. It has secured the first round of funding from reputed angel investors. Mumbai based start-up Fatakpay Digital Pvt Ltd which is co-founded by the former principal at KKR Amit Lodha is offering virtual credit cards and various other financial services.
The group of various other angel investors are Ajay Manglunia (Managing Director at JM Financial), Shobit Bahl (Director at Barclays India), Amit Sahoo (MD at Shapoorji Pallonji Ports), Amit Mittal (Treasury Head at Tata Motors), Sunu Mathew (Promoter at Leap India), and Eshwara Karra (Chief Executive Officer at Kotak Special Fund)
State Bank of India and Nature’s Basket have joined hands to provide a unique credit card. This credit card will be available in two variants – ‘Nature’s Basket SBI Card Elite’ and ‘Nature’s Basket SBI Card’. The card offers up to 20 reward points on every Rs.100 spent. Along with that, the cardholder gets premium brand gift vouchers and complimentary BookMyShow tickets valuing Rs.6000 every year. Nature’s Basket SBI card customers get up to four complimentary domestic lounge visits every year. And Nature’s Basket SBI Card Elite customers get up to eight complimentary domestic lounge visits every year and six complimentary international lounge visits every year.
The Reserve Bank of India (RBI) has introduced new rules related to debit and credit card issuance which include new rules of credit card billing. These rules are also applicable to every Scheduled Bank (except State Cooperative Banks, Payments Bank, and District Central Cooperative Banks) and all Non Banking Financial Companies (NBFCs) operating in India. These rules will be effective from 1 July.
The Reserve Bank of India (RBI) has introduced new rules for credit cards that will be effective from 1 July 2022. Credit card users should definitely know the credit card rules introduced by the apex bank of India. These new credit card rules make the situation on the user side hassle-free. The new credit card rules that are implemented come under RBI (Credit Card and Debit Card – Issuance and Conduct) Directions, 2022.
The rules will be applicable to every bank and Non-Banking Financial Institutions (NBFCs) that are operating in India.
The Reserve Bank of India (RBI) has come up with a new rule on debit card and credit card issuance and operations. The directions are known as Reserve Bank of India (Credit Card and Debit Card – Issuance and Conduct) Directions, 2022 which shall be effective 1 July 2022. The new rules related to the credit cards will be implemented in every scheduled bank, excluding state cooperative banks, payments banks and district central cooperative banks.
The same rule shall also be applied to all non-banking financial institutions. As per the directions, the issuer of the card will pay a fine to the cardholder if there is any delay in paying the credit card bills. If the card issuer fails to close the credit card account within seven working days, he or she will have to pay a penalty amount of Rs.500 per day to the customer till the closure of the account.
BOB Financial Solutions Limited (BFSL) which is a wholly-owned subsidiary of Bank of Baroda (BoB) and CreditAI Fintech Pvt. Ltd. (CAI), a Bengaluru and Singapore based farmer digitisation and credit score company have launched a credit card named Unnati on Thursday exclusively for farmers to help them purchase farm inputs.
Unnati has been launched as a contactless offering on the Visa network. The credit helps in empowering the farmers to avail of agricultural inputs during the cultivation cycle. The Unnati Credit Card allows farmers to access credit on a rotational basis, avoiding renewal delays.
The Reserve Bank of India (RBI) stated that Non Banking Financial Companies (NBFCs) undertake credit card business without its prior approval. NBFCs will not be able to issue debit cards, charge cards, credit cards or similar products physically or virtually without the RBI’s approval.
According to the Reserve Bank of India (RBI), under the Foreign Exchange Management Act, 1999 (FEMA) and the Foreign Exchange Management (Current Account Transaction) Rules, 2000, an individual with an internationally enabled credit card or debit card is not allowed to make certain payments with the card (FEMA Current Account Rules).International credit cards and debit cards cannot be used to purchase forbidden items including lottery tickets, restricted or proscribed magazines, participation in sweepstakes, payment for call-back services, and so on.
Jharkhand government to introduce Guruji Student Credit Card scheme from July to help meritorious students who belong to the economically weaker class. The scheme will help students to avail soft loans of up to Rs.10 lakh at an affordable interest rate and with no collateral. The scheme aims to encourage the youth to pursue their higher studies. The online portal for the Guruji Student Credit Card Scheme will be operational from 15 June. Apart from this, a separate cell with a nodal officer from the departmental level will be created on 31 May.
The Parliamentary Standing Committee on finance is planning to provide a credit card to Ministry of Micro, Small, and Medium Enterprises (MSME) entrepreneurs along lines of Kisan credit cards. Jayan Sinha, Former Minister of State for Finance and Chairman of the Committee stated that a platform will work on providing MSME with an affordable line of credit with products such as the MSME Vyapar credit card.
The card will help all the small businesses have working capital ensure trade financing for their revenues and offer capital loans at affordable interest rates.
The Reserve Bank of India (RBI) has proposed to come up with a new facility through which people can withdraw cash from Automated Teller Machines (ATMs) without a debit or a credit card. This service will be available to all the bank customers. Customers can withdraw cash from ATMs with the help of the Unified Payments Interface (UPI) developed by the National Payment Corporation of India (NPCI).
PayPal introduced a new Cashback Credit Card which will provide even more cashback to its customers when they shop with PayPal. The card will provide unlimited 3% cashback to the customers when paying with PayPal at checkout.
On Wednesday, Shopper’s Stop and HDFC bank announced the launch of the co-branded credit card ‘First Citizen’ for retail chain customers. Parag Rao, the HDFC Bank’s country head for consumer finance said that they expect to onboard 10 lakh new customers in three years duration. The credit cards will be available in two variants, Shoppers Stop HDFC Bank Credit Card and Shoppers Stop Black.
CRED, which has previously focused on upscale offerings, is prepared to venture into sectors where it would likely compete with large volume companies such as MobiKwik, Paytm, and PhonePe. Through its app, the company will now offer mobile, DTH, and FASTtag recharging options as well as utility bill payments such as water bills, municipal tax, and electricity bills.
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