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Credit Card - Apply for a wide range of Credit Cards on BankBazaar starting at 0 annual fees, offering many benefits such as Shopping, Rewards, Cashback, & Discounts. Credit cards are a financial tool that comes with preloaded funds as provided by the credit card provider depending on various factors.
These cards help you make transactions both online & offline and allow you to clear the balance within 50 days from the date of payment without charging any additional interest.
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, & latest offers, everything at a single place.
Updated on - 09 Jun 2023
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 Card||Lifestyle|
|SBI SimplySAVE Credit Card||Reward Points|
|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 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 accidents, 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 for credit bureau, CIBIL.|
The eligibility criteria for 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, Aadhaar card, Voter’s ID||Passport, PAN card, Aadhaar card, Voter’s ID|
|Residential Proof||Aadhaar Card, Electricity Bill, Telephone bill||Aadhaar Card, Electricity Bill, Telephone bill|
|Income Proof||Salary Certificate, Recent Salary slips, Employment Offer Letter||Certified Financials, Recent Income Tax Returns (ITR) Statement, Passport|
The Reserve Bank of India (RBI) issued new rules regarding credit cards and debit cards on 1 April 2022 which has come into effect recently. Here are the new regulations:
Banks or companies issuing credit cards will have to ask the cardholder for OTP if the latter has not activated their card after 30 days of its issuance. If the cardholder does not provide their consent, then the credit card account is to be closed within seven days and no amount must be charged whatsoever.
The credit limit approved by the card issuer to the cardholder must not be breached at any point in time unless the latter’s consent has been taken.
No unpaid charges, taxes, or amount charged must be capitalised by the bank or card issuing companies.
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:
Step 1: Compare credit card offers.
Step 2: Select from the top cards offered by leading Indian banks.
Step 3: Check your eligibility by entering a few personal details.
Step 4: Enjoy instant approval online after filling out your application form.
Alternately, you can also apply for a card online on the bank’s website by following these steps:
Step 1: Visit the bank's website.
Step 2: Explore the cards offered by the bank.
Step 3: Use the comparison tool if available to compare their features and benefits.
Step 4: Select the card that is the right one for you and hit the 'Apply' button.
Step 5: Fill in the required details and upload all necessary documents.
Step 6: Submit your form.
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.
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.
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.
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 emails 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 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 enabling holders to make purchases and have the luxury of paying back 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 the bank and the holder mutually decide.
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.
The renewed card usually has the same number as your expired card, but the new card's CVV (Card Verification Value) number is different.
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.
A credit card gives you a line of credit; you can use this to make balance transfers, purchases, and cash advances. You will have to pay back the amount by the date specified by the bank. When using a credit card, you have to keep in mind the minimum payment made every month by the due date.
Credit limit is the maximum amount that one can spend on their card. When you have a high limit for credit cards, it allows you to spend more, which will help your credit scores.
You do not have to use your credit card every month, but you must use it often to avoid the bank labeling it as an inactive account.
A credit score above 750 is ideal for getting a credit card.
Even if you do not have a job and have a substantial cash inflow into your account every month, 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. Many 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 points every time you spend money. You can redeem these points for vouchers, cashback, or air miles.
The number one should own is not fixed. It depends on your financial ability and your spending behavior. However, ensure to manage all the cards correctly.
Credit scores above 750 are generally deemed suitable 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 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 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 they cannot 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 processing fee.
Credit cards are automatically renewed toward 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 3 years.
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 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 inactivity or dormant account fee. Depending on the credit card issuer, an inactivity fee is generally charged on deposit accounts.
Different banks will charge different fees. Typically, the charge will range from 2.5% to 3% of your transaction amount. This will be 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.
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 a cash advance. The bank will set the maximum amount you withdraw from an ATM using your credit card. Remember that this is generally capped at up to 30% to 40% of your credit card limit.
You must be 18 years old to apply for a credit card.
If 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 banking service is available. You can always contact the bank to learn more about using your international credit cards in India.
Yes. You can set a transaction limit for your credit card. You must contact the bank credit card customer care to set the limit.
You can reach a bank's credit card customer care by calling their customer care number or writing their customer care email ID.
You can easily disable or enable international transactions either by contacting 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; for a few banks, you will have to visit the bank.
A credit card allows you to make purchases within the credit limit and pay later. One of the main advantages of a credit card is that the total sum of your purchases can be converted into low-cost EMIs and repaid over a specified period. You can avail of discounts, cashback, and reward points on your credit card spending.
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.
The bank can charge between 1% and 4% for an international transaction.
A CPP is a service that will protect your credit card from loss, theft, fraud, etc.
The four major credit card networks are American Express (Amex), Discover, Mastercard, and Visa.
Yes, you can pay your credit card bill with another credit card.
On the cardholder's demise, the payment of the remaining bills has to be made by the legal heir.
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.
Once you log into the app, you should click on Edit Account Settings. Now you can add or delete any card by clicking on it.
Yes, housewives can apply for a credit card. However, they are required to maintain a minimum account balance and show minimum earnings every month.
Yes, you can apply for multiple credit cards simultaneously if you meet the eligibility criteria.
Customers can now combine the reliability of a RuPay credit card with the simplicity and ease of UPI with the release of the Kiwi app. Over the following 18 months, the company aims to offer accessibility to credit via UPI to 1 million customers. A digital RuPay credit card will be issued instantly to customers. They can use the mobile application to link their UPI and RuPay cards for availing cashback and credit on UPI offers. According to reports, both offline stores and online platforms will be providing cashback offers. Customers can manage their cards through the app by setting card limits, blocking cards, etc.
5 June 2023
Customers who have availed the Kotak Myntra Credit Card will now be able to enjoy a discount of up to Rs.750 on every purchase made using the card. The bank also specified that there is no minimum amount the customer will have to spend to avail themselves of this benefit.
Kotak Mahindra Bank in partnership with Myntra announced the launch of the co-branded card today on 1 June 2023. This credit card will be suitable for those who like to do online shopping.
The application process to apply for Kotal Myntra Credit Card can be done online in a hassle-free manner by visiting either the Myntra website or the Kotak Mahindra Bank website. The application process can be done through both the entities mobile apps too.
Apart from enjoying a discount of up to Rs.750, customers of this co-branded customer can enjoy various other benefits such as complimentary access to Myntra insider, 5% cashback on any purchase made through any of the platforms – PVR, Cleartrip, Swiggy, Swiggy Instamart, and Urban Company.
Customers of this credit card will automatically be onboard Myntra’s loyalty program – Myntra Insider and will also receive a complimentary Rs.500 e-voucher.
The joining fee and the annual fee for the Kotak Myntra Credit Card is only Rs.500.
The Myntra Co-branded Credit Card will be targeted to fashion shoppers across metros, tier 1, tier 2 and tier 3 cities as the first card of its sort in the industry, providing stickiness and exceptional brand recall.
On the RuPay and MasterCard networks, the Kotak Myntra credit card will be accessible.
1 June 2023
The National Payments Corporation of India (NPCI) and BOB Financial Solutions Limited (BFSL), a Bank of Baroda subsidiary announced a feature that allows holders of Bank of Baroda credit cards to use their RuPay credit cards on UPI with BHIM along with other UPI-enabled apps. Users of Bank of Baroda RuPay Credit Cards will be able to make purchases at merchant locations across the country using QR codes and POS devices without using a physical credit card. Customers can transact securely and easily while still getting the advantages of a credit card without having to keep a physical card.
31 May 2023
By enabling users to link their RuPay credit cards with UPI for regular payments, Paytm Bank has changed the game for credit card transactions in India and made it even more convenient for users.
The National Payments Corporation of India and Paytm Payments Bank enabled this ground-breaking integration back in February, making Paytm the go-to platform for an effortless, digitally powered credit card experience. Users can now take advantage of credit card benefits with every UPI payment. Paytm has made great progress towards closing the digital gap and transforming the world of digital payments with the launch of the RuPay Credit Card on UPI.
The business just introduced the Paytm SBI Card on the RuPay network, and soon users will be able to make UPI payments using it as well.
Users can easily pay retailers by scanning the UPI-enabled QR code using the Paytm app by connecting a RuPay credit card to Paytm UPI. This simplifies offline and online payments and does away with the requirement to carry cards at all times. The transactions become quicker and more effective as a result. The prospective market for RuPay credit cards on UPI is enormous given the UPI ecosystem's record-breaking April 2023 transaction total of 890 crore transactions valued 14.07 lakh crore.
30 May 2023
PhonePe has become the first digital payment platform to link two lakh RuPay credit cards to the UPI. Moreover, it has processed a Total Payment Value (TPV) of Rs.150 crore through RuPay Credit on UPI. With the largest merchant penetration in the ecosystem as a whole, the business has already allowed the acceptance of Rupay Credit Cards on UPI over 12 million merchant outlets in the nation. Customers now have many options to use their Rupay credit cards for UPI transactions due to its extensive adoption.
29 May 2023
National Payments Corporation of India (NPCI) and Google Pay have joined hands so that RuPay credit cards are supported on Unified Payments Interface (UPI). RuPay credit cards can be linked to the Google Pay account to make offline and online payments. Union Bank of India, Punjab National Bank, Kotak Mahindra Bank, Indian Bank, HDFC Bank, Canara Bank, Bank of Baroda, and Axis Bank offer this facility.
24 May 2023
Data released by the Reserve Bank of India (RBI) revealed that credit card spending decreased by 3.3% monthly to reach Rs. 1.33 trillion in April. However, aggregate credit card spending saw a significant increase of nearly 26% compared to the previous year. In March, overall credit card spending reached a record high of Rs. 1.37 trillion, and for the fiscal year 2023, it rose by 47% yearly to reach Rs. 14 trillion. A hike in e-commerce and point-of-sale transactions drove this growth. Almost all banks, except HDFC Bank, experienced a decline in credit card spending in April on a monthly basis.
However, on a yearly basis, the State Bank of India (SBI) witnessed a 24% rise in credit card spending to Rs. 24,335 crore, while HDFC Bank's credit card spending rose by 31% yearly to Rs. 38,077 crore. ICICI Bank, Axis Bank, and IndusInd Bank also observed yearly increases of 9.4%, 70.1%, and 21.72%, respectively, reaching Rs. 22,693 crore, Rs. 15,647 crore, and Rs. 6,314 crore in April. Furthermore, at the end of April, the number of outstanding credit cards was 86.5 million, which was 1.21 million higher than in March. HDFC Bank's outstanding credit cards increased by 2% monthly in April to reach 17.88 million, while SBI's cards grew by 0.6% monthly to reach 16.86 million. ICICI Bank and Axis Bank also saw a monthly increase of 0.8% and 1.2%, respectively, reaching 14.58 million and 12.27 million credit cards in April. A report from HSBC Global Research suggests that issuing and using the 'RuPay credit card on UPI' will further boost credit card spending in the future.
23 May 2023
Bank of India has partnered with an emerging fintech ‘SLO Technologies’ to digitise Kisan Credit Card (KCC). This move will help the bank in launching end-to-end Agri-lending solutions. This partnership will boost Bank of India’s agricultural business.
22 May 2023
One97 Communications Limited, the parent company of mobile payment brand Paytm, has partnered with SBI Card and the National Payments Corporation of India (NPCI) to promote inclusive and digital-first financial services in India. As part of this collaboration, they have introduced the Paytm SBI Card on the RuPay network. During an event in Mumbai, Paytm founder and CEO Vijay Shekhar Sharma stated that India is on the verge of the next payments revolution, where credit will become the mainstream payment choice. Together with SBI Card, the Paytm RuPay Credit Card will be an excellent option for consumers.
The newly launched card offers attractive rewards and benefits for users. Customers can enjoy exclusive privileges valued up to Rs. 75,000 through a Paytm First membership, which includes access to OTT platforms and flight ticket discounts via the app. Additionally, the Paytm SBI Card provides rewards and savings when used on the Paytm app. Cardholders receive a 3% cashback on movie and travel ticket bookings on the app, 2% cash back on all other purchases made through the Paytm app, and 1% cashback on spends elsewhere. Bhavesh Gupta, President and COO of Paytm, expressed their enthusiasm for the partnership. The credit cards offer exclusive Paytm First membership valued at Rs. 750, along with other exciting benefits. Furthermore, both variants of the card provide 2% cashback on all Paytm ecosystem transactions and 1% cash back on other purchases (excluding wallet reloads and fuel expenses). Cardholders also receive the added advantages of a 1% fuel surcharge waiver and Rs. 1,00,000 cyber fraud insurance coverage for 'Platinum' cardholders, as per Paytm's announcement.
19 May 2023
By including credit card transactions in the $250,000 Liberalised Remittance Scheme (LBS) limit, the government decided to modify the Foreign Exchange Management (Current Account Transaction) Rules after consulting with the Reserve Bank of India (RBI). Over and above this cap, any foreign transfers or purchases require the approval of the RBI in advance. Credit card spending was not previously included in the LRS ceiling. The move intends to reduce the use of credit cards to circumvent LRS limits.
18 May 2023
The indigenous card network of India, RuPay has launched a new feature which is going to change the payment experience for the users. The newly launched CVV free payments for tokenized cards will simplify the payment process and improve the security for its huge user base.
16 May 2023
One of the private sectors in India, Axis Bank, integrated UPI (Unified Payments Interface) transactions with RuPay credit cards. Axis Bank credit card users can scan the QR codes using their RuPay credit card by selecting Axis Bank credit cards from their UPI application for enhanced payment flexibility. Customers can generate separate UPI PINs to make payments through their RuPay credit cards. This feature is applicable for those UPI apps that support RuPay credit cards and for those customers with Axis Bank RuPay credit cards.
10 May 2023
AU Small Finance Bank has collaborated with RuPay to come up with a Business Cashback credit card to fulfil the financial requirements of self employed individuals. This card will make the financial operations of the business easier by providing certain benefits like up to 2% cashback, 48 days interest free credit and instant loans. Apart from this, the credit card also provides burglary, fire insurance, and housebreaking coverage which makes it a one stop solution for all business needs. In addition, the credit card also offers travel as well as lifestyle benefits. It comes with a Silver Spoon Dining Program which provides 30% discount to the cardholders at more than 300 restaurants, eight railways lounge access each year, and a 1% fuel surcharge waiver.
09 May 2023
The Insurance Regulatory and Development Authority of India (IRDAI) has discontinued the facility of repayment of loans availed against life insurance policies using credit cards. A circular issued on 4 May 2023 stated that the insurance regulator instructed all life insurance companies to not accept credit cards as a method of repayment for loans made against insurance policies.
08 May 2023
On 5 May 2023, Visa announced that it has begun offering cardholder verification value (CVV)-free online transactions for domestic tokenised credentials in India. The company stated that the decision is in accordance with the tokenisation guidelines issued by the Reserve Bank of India, which were implemented last year. Visa is the first payment system that has rolled out CVV-free online transactions across the merchant ecosystem. It is focused on speeding up domestic card-not-present (CNP) tokenised transactions while making sure the transactions are secure.
05 May 2023
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