Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
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  • Apply for a credit card by comparing the Best credit cards online. You can find credit card offered by Top banks along with their features, benefits, fees, and latest offers, everything at a single place.

    Compare And Apply For Credit Cards

    (Updated on - 13th August 2020)
    Best For Credit Card
    Lounge Access HDFC Diners ClubMiles Card
    Rewards Citi Rewards Card
    Cash Back Citi cashback Card
    Movies Kotak PVR Gold Credit Card
    Reward Points HDFC Freedom Card
    Fee Waiver IndusInd Platinum Card
    Fuel IndianOil Citi Platinum Card
    Lifestyle IndusInd Platinum Aura Edge Card
    Shopping and Movies Axis bank Neo Credit Card
    Travel and Dining HSBC Visa Platinum Credit Card

    10 Best Credit Cards in India - 2020

    • Enjoy cash back benefits offered by Citi Cashback Credit Card at minimal joining and renewal fee.
    • Built-in contactless technology that enables fast and secure transactions at POS terminals.
    • Benefits of worth more than Rs.3,300 in the first year.
    • 5% cashback on all utility bill payments made through Citibank Online Bill Pay facility.
    • 15% off on dining bills at more than 2,000 dining partners.
    • Accrued reward points will be automatically credited on accumulation of a minimum amount of Rs.500.


    • Lifetime fee waiver on conducting at least 4 transactions (per month) of Rs.500 or more within the first 3 months.
    • Enjoy annual fee waiver by spending Rs.1 lakh or more in the previous year.
    • Earn 4 reward points for every Rs.150 spent.
    • Up to 6 free lounge visits per year to more than 700 lounges worldwide.
    • 15% discount and other benefits at more than 3,000 restaurants across the world.
    • Best-in-class miles exchange scheme – 1 reward point equals 1 airmile.
    • Emergency medical expenses coverage of as much as Rs.9 lakh.
    • Redeem reward points for flight ticket or hotel bookings.



    • Get your joining fee of Rs.1,000 waived by spending Rs.30,000 in 1st year on the credit card.
    • Get renewal fee waiver by spending Rs.30,000 every year.
    • Collect and redeem Turbo Points at more than 1,200 IndianOil outlets across the country.
    • Redeem reward points and get up to 71 litres of free fuel annually.
    • Discount of up to 15% at participating restaurants in the country.
    • Enjoy privileges including EMI options and contactless feature.


    • No requirement of income proof.
    • Collect and redeem reward points as cashback.
    • Gift voucher of Rs.1,000 on spending more than Rs.90,000 in a year.
    • Renewal fee is waived off if annual spends is Rs.50,000 or more.
    • Complimentary accidental death insurance of up to Rs.50 lakh (subject to bank terms and conditions).



    • With the complimentary Priority Pass Membership for you and your partner which offers access to more than 600 airport lounges in India.
    • Make the most of the card with the Concierge facility and make reservations and bookings on demand.
    • Avail the benefits of Comprehensive Insurance Benefits.



    • Get an e-voucher of worth Rs.2,000 on spending Rs.1 lakh to Rs.2 lakh in a year.
    • On every spend made on the card, get 5x reward points.
    • For every transaction done at partner websites, get 10x reward points.
    • On spending Rs. 1 lakh or more in a year, the next year’s annual fee will be waived off.


    • Enjoy annual fee waiver when the spends in a membership year exceed Rs.30,000.
    • Enjoy benefits of more than Rs.4,800 in the first year.
    • No expiry deadline for the reward points earned on the card.
    • Save up to 15% on the bill amount at partner restaurants.
    • Earn 300 bonus reward points on monthly spends of Rs.30,000 or more.
    • Redeem reward points for travel bookings, movie tickets, mobile services, and so on.


    • Worldwide acceptance at more than 24 million outlets all over the world.
    • Earn 1 reward on every Rs.100 spent on the card.
    • For departmental store, grocery and dining spends, get 10X reward points.
    • If you spend more than Rs.1 lakh in a year, your annual fee will be waived.


    • Annual fee waiver worth Rs.2,999 on spending Rs.3 lakh or more in a year.
    • Enjoy 4 complimentary International Priority Pass Lounges visits across the world every year.
    • Enjoy 8 complimentary domestic airport lounges visits across India every year.
    • Earn 2 points on spending every Rs.100 on the card.
    • Earn 10X reward points on your birthday. Earn 20 points on spending every Rs.100 on the card on your birthday.



    • Enjoy the benefits of the card without paying any joining or annual fee.
    • 3 times more reward points on categories like telecom, hotels, and dining for the first 12 months.
    • 5 times more reward points on spending Rs.4 lakh or more in a year subject to a maximum of 15,000 reward points.
    • Spend a minimum amount of Rs.10,000 with the card within 90 days of its issuance and enjoy 10% cashback.
    • Save up to Rs.1,200 on domestic flight bookings through Cleartrip.
    • Get discounts of up to 15% at more than 700 participating restaurants across India.
    • Spend Rs.50,000 or more in a year to get a BookMyShow voucher worth Rs.500.
    • Get 2 movie tickets for the price of 1 through BookMyShow once every month.

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    Credit cards are an important financial tool which enables its holders to make purchases and have the luxury of paying back the amount at a later date. 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.

    Features and Benefits of a Credit Card

    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 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 installments (EMI).

    Credit Card Eligibility

    The eligibility criteria of a credit card are dependent on a range of factors. Check out the primary eligibility criteria for credit cards

    Nationality You should be a citizen of India or a non-resident Indian (some banks extend credit cards to NRIs).
    Age You should be at least 18 years old. In some cases, the minimum age to apply for a credit card is 21 years.
    Employment status You must either be salaried or self-employed and have a steady source of income.
    Income Most banks will require you to meet their minimum income requirement before they approve your card application.
    Credit Score A good CIBIL score, with no history of default goes a long way in making sure that your credit card application is approved.
    Apply Credit Cards Online
    Apply for Credit Cards

    Finding the Right Credit Card

    So, how do you go about finding a credit card that is just right for you? Here's a handy list:

    • Your spending pattern: Your monthly spending pattern is a major factor in choosing the right credit card. If your majority expenses are towards online spends, a credit card offering benefits on online expenses would be ideal.
    • The reward type: Credit cards offer rewards in terms of cashback (which you can use to offset your bill), rewards points (which can be used to redeem lifestyle, travel, retail, and dining vouchers), and air miles (which can be transferred to your preferred airline's frequent flyer program and help fund the tickets for your next holiday).
    • Fees and charges: Compare the interest rate on different cards and the fees and charges that apply. Look for a card whose joining fee and annual fee you can afford. Also, see if there are any hidden charges.
    • Offers on the card: Some cards have great offers and discounts when you use the card to shop on a particular website or when you use it at a particular store.
    • Welcome bonus or gift: Some banks offer welcome gifts and bonuses on applying for a credit card. This could be the latest gadget or bonus points and miles.
    • Payment options: Most cards will allow you to make payments via multiple channels. In general, if you tend to forget to make payments by the due date, you should consider having your credit card payments automatically debited from your account.

    If you keep these points in mind, getting the right credit card shouldn't be too much of a problem.

    Documents Required to Apply for a Credit Card

    Applicants can submit any one of the ID proof, address proof and income proof documents listed below

    Proof of Identity Proof of Address Proof of Income (For Self-Employed) Proof of Income (For Salaried)
    Passport Telephone Bill Certified Financials Salary Certificate
    PAN Card Electricity Bill Recent ITR Statement Recent Salary slip/s
    Ration Card Aadhaar Card Passport Employment Letter

    Different Types of Credit Cards in India

    Apply for a Credit Card

    The application process for a credit card can be done online as well as offline. Most banks have gone the digital way in the wake of the COVID-19 pandemic and the application process for credit cards have become simpler, faster and most importantly, paperless.

    How to Apply for a Credit Card Online?

    Applying for a credit card online is as easy as booking a movie ticket online. Here are the steps:

    • Visit the bank's website.
    • Take a look at the credit cards offered by the bank.
    • If the bank has a comparison tool, use it to see how each card compares to the other.
    • Select the credit card that is the right one for you and hit the 'Apply' button.
    • Fill in the required details and upload all necessary documents.
    • Submit your form.

    And that's it. It really is that simple.

    Note: Each bank may have a different application procedure. Visit the bank's website for more details regarding how to apply for their credit card online.

    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 credit 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

    Different Types of Credit Cards Offered by Bankbazaar

    Not everyone needs the same credit card. While some consider it as a line of credit, a few consider it as an instrument to track their expenses and for some others it's a way to get the best deals on every purchase.

    Today's customer-centric market has thus come with a solution for all - A credit card for every need. The partnership between card issuers and retailers made the categorisation even simpler. From shopping to travel to dining to rewards, there are cards for each category.

    Shopping Credit Cards:

    The name says it all - Shopping Credit Cards are designed for shopaholics or frequent shoppers. While some cards provide deals and discounts for shopping online, others are designed for in-store shopping. Further, there are co-branded Shopping credit cards that provide offers and rewards on specific brands or stores.

    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.

    SimplySAVE SBI Card
    Apply SimplySAVE SBI Card
    • Joining fee - Rs.499; Annual fee - Rs.499 (Waived if the total spends exceed Rs.1 lakh).
    • 2,000 bonus reward points on spending Rs.2,000 or more in the first 60 days of card issuance.
    • 10 reward points on spends related to movies, dining, grocery, and departmental store.
    • 1% fuel surcharge waiver for transactions between Rs.500 and Rs.3,000.

    Axis Bank Buzz Credit Card
    Apply Axis Bank Buzz Credit Card
    • Joining fee- Rs.750; Annual fee- Rs.750.
    • Welcomes you on board with Flipkart gift voucher worth Rs.1,000
    • Up to 10% discount on Flipkart.com valid from 1-5 of every month.
    • 5% instant discount on Flipart.com from 6-31 of every month.

    Kotak Essentia Platinum Credit Card
    Apply Kotak Essentia Platinum Credit Card
    • Joining fee- Rs.1,499; Annual fee- Rs.749.
    • Up to 10 reward points for every Rs.100 spent at grocery and departmental stores.
    • Access to priority customer service with ASSIST
    • 6 free PVR tickets or 1,200 reward points for spends over Rs.1.25 lakh in 6 months.

    Lifestyle Credit Cards

    A Lifestyle Credit Card is an "all-in-one" credit card that provides privileges across categories. From shopping to travel, rewards to cashback, entertainment to dining, you can enjoy special offers and discounts on most of them.

    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 Lifestyle Credit Cards also have low or no annual fee and are designed for low-income group individuals.

    HDFC Bank Regalia Credit Card
    Apply HDFC Bank Regalia Credit Card
    • Joining fee - Rs.0, if you apply on Bankbazaar.com or Rs.2,500.
    • Annual fee - Rs.2,500 (Waived if the total spends exceed Rs.3 lakh)
    • Welcomes you on board with 2,500 reward points.
    • Complimentary Priority Pass Membership providing access to more than 700 airport lounges.
    • 15% discount on dining spends at premium restaurants across India.
    • 24X7 concierge assistance for travel and entertainment bookings.
    • 12 free lounge visits per year to domestic airports.

    SBI Card Prime
    Apply SBI Card Prime
    • Joining fee - Rs.2,999; Annual fee - Rs.2,999 (Waived if the total spends exceed Rs.3 lakh).
    • Welcomes you on board with a complimentary e-gift voucher worth Rs.3,000 from partner brands.
    • 20 reward points on utility bill payments, spends at partner stores, dining, grocery, and movies.
    • Free membership to Trident Privilege Red Tier Programme that provides exclusive benefits on hotel stays.
    • Complimentary membership to Club Vistara Silver tier.
    • 8 free domestic airport lounge visits and 4 international lounge visits per year.
    • 20 reward points for every Rs.100 spent on your birthday.

    Axis MY Zone Credit Card
    Apply Axis MY Zone Credit Card
    • Joining fee - Rs.500 (Waived on spends of Rs.5,000 in the first 45 days); Annual fee - Rs.500.
    • 25% cashback on movie ticket bookings.
    • 1 free airport lounge access per quarter to domestic airports
    • Up to 20% off on dining at partner restaurants in India.
    • 4 reward points for every Rs.200 spent.

    HSBC Visa Platinum Credit Card
    Apply HSBC Visa Platinum Credit Card
    • Joining Fee - Nil
    • Annual Fee - Nil
    • 10% cashback of up to Rs.2,000 on spending Rs.10,000 within the first 90 days of card issuance.
    • BookMyShow voucher of Rs.500.

    YES Bank Premia Credit Card
    Apply YES Bank Premia Credit Card
    • First year membership fee of Rs.1,500 waived off if applied through BankBazaar.
    • No annual fee when applied through BankBazaar, if not Rs.1,500.
    • 25% off on movie tickets booked on the BookMyShow app or website.
    • Priority Pass Membership and MasterCard program includes 2 domestic lounge visits per quarter.
    • Enjoy discounts and offers on dining at partner restaurants all over the country.
    • 4 Green Fee waivers at top golf courses in India.

    Fuel Isn’t Expensive with Fuel Credit Cards:

    Partnered with major industry players like Hindustan Petroleum (HP), Bharat Petroleum (BPCL), Indian Oil, etc., credit card issuers are offering Fuel Credit Cards loaded with partner-specific benefits. 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.

    BPCL SBI Credit Card
    Apply BPCL SBI Credit Card
    • Joining Fee: 500. Renewal Fee: Rs.500. Waived if the total spends in the previous year equal Rs.50,000.
    • 5X reward points on other transactions like shopping or dining.
    • 4.25% ValueBack + 1% fuel surcharge waiver at any BCPL Petrol Pump in the country.
    • Redeem reward points instantly for fuel purchases at IndianOil outlets.

    IndianOil Citi Platinum Credit Card
    Apply IndianOil Citi Platinum Credit Card
    • Joining fee: Rs.499; Annual fee: Rs.499 (From 2nd year). Waived if the total spends in a year is Rs.50,000 or more.
    • 4 turbo points for every Rs.150 spent on fuel at authorised IndianOil outlets.
    • 2 turbo points for every Rs.150 spent at grocery and supermarkets.

    SimplySAVE SBI Card
    Apply SimplySAVE SBI Card
    • 1st year fee on the card is Rs.499.
    • Renewal fee of Rs.499 is waived off when applied through BankBazaar, and if annual spends are more than Rs.90,000.
    • Enjoy 10X reward points on dining and movie spends.
    • Avail 10X reward points on purchases made at departmental and grocery stores.
    • Get a 1% fuel surcharge waiver at any petrol pump for transactions between Rs.500 - Rs.3,000.

    Axis MY Zone Credit Card
    Apply Axis MY Zone Credit Card
    • 1st year fee of Rs.500 is waived, when applied through BankBazaar, and if Rs.5,000 is spent within 45 days.
    • 2nd year fee of the card is Rs.500.
    • Enjoy a cashback of 25% on movie ticket bookings.
    • Avail complimentary airport lounge access at major domestic airports.
    • For every Rs.200 spent on the card, get 4 reward points.
    • Avail a 1% fuel surcharge waiver across all fuel stations in the country.

    Rewards Credit Cards - Get Rewarded While You Shop:

    Rewards Credit Cards offer accelerated rewards on most of the spending categories. Credit card issuers are providing a wide variety of redemption options ranging from gifts to air miles to cashback. Rewards Credit Cards also provide welcome rewards, bonus rewards, milestone rewards, etc., in terms of reward points. Most of the cards offer reward points with unlimited validity.

    Citi Rewards Credit Card
    Apply Citi Rewards Credit Card
    • Up to 2,500 bonus points within 60 days of card issuance as part of welcome rewards.
    • 10 reward points on apparel and departmental store spends.
    • Up to 300 bonus reward points on spends more than Rs.30,000 in a month.
    • Reward points can be redeemed instantly for fuel, in-store shopping, online shopping, air miles, cashback, etc.

    IndusInd Platinum Credit card
    Apply Citi Rewards Credit Card
    • Zero 1st-year and 2nd- year fees if applied through BankBazaar.
    • Avail best-in-class insurance benefits
    • Fuel surcharge at all petrol-pumps all over the country
    • Movie ticket benefits twice a month from Sathyam Cinemas and 1 free movie ticket from BookMyShow.
    • 1 complimentary golf session per quarter.
    • Priority Pass Membership

    YES First Preferred Credit Card
    Apply Citi Rewards Credit Card
    • No annual fee is charged if applied through BankBazaar, if not Rs.2,500.
    • Renewal fee waived off if applied from BankBazaar, if not Rs. 2,500.
    • Make the most of 15,000 reward points received on your first transaction within 3 months.
    • Enjoy a renewal benefit of 10,000 reward points with each renewal.
    • With the Priority Pass Membership and MasterCard program, get 4 complimentary lounge visits per year.
    • Avail discounts and offers on purchasing a wide range of products through YesRewardz.

    Cashback Credit Cards (Earn while you spend):

    Cashback Credit Cards offer cashback, cash rebates, and other money-saving benefits on most of the credit card spends. While some cards offer cashback in the form of reward points others offer direct cashback to the credit card account which can be used to pay off the card outstanding.

    HDFC MoneyBack Credit Card
    Apply HDFC Bank Regalia Credit Card
    • Joining fee:Rs.500 Renewal fee:Rs.500 (from 2nd year onwards).
    • 2 reward points on every Rs.150 spent online.
    • Spend Rs.50,000 in a quarter and get an e-voucher worth Rs.500.
    • Free accidental death insurance up to Rs.50 lakh.
    • Reward points can be redeemed for cashback against card outstanding (100 reward points = Rs.20).

    Citi Cashback Card
    Apply HDFC Bank Regalia Credit Card
    • Joining Fee: Rs.500; Renewal Fee: Rs.500.
    • 5% cashback on movie ticket bookings.
    • 5% cashback on all telephone bill payments.
    • 5% cashback on all utility bill payments made through Citibank Online Bill Pay Facility.
    • 0.5% cashback on all other spends.
    • Cashback credited automatically as statement credit in multiples of Rs.500.

    Axis Bank Neo Credit Card
    Apply Axis Bank Neo Credit Card
    • Annual fee of Rs.250 will be charged.
    • Joining fee of Rs.250 will be waived off if Rs.2,500 or more is spent within 45 days.
    • Earn eDGE loyalty reward points with each transaction made with the card.
    • Get an Amazon gift voucher of Rs.250 on your first transaction with the card.
    • Avail a 15% discount on dining at all partner restaurants in the country.
    • Make the most of cashback offers on spends made with the credit card.

    Travel Credit Cards – Make Your Holidays Budget-friendly:

    Mostly providing air travel benefits, Airline Credit Cards are best suited for frequent travellers. The features and benefits offered on the cards revolve around air travel. Reward points to air mile conversion, free flight tickets, complimentary airport lounge access, and accelerated rewards on air ticket booking, among others are some common features offered by Travel Credit Cards.

    Most of the Travel Credit Cards are co-branded cards offered in collaboration with the card issuer and an Air Carrier or Travel Website. The annual fee of the cards range from Rs.500 to Rs.5,000 depending on the benefits they offer.

    Yatra SBI Card
    Apply SBI Yatra Credit Card
    • Joining fee - Rs.499; Annual fee - Rs.499 (waived if the total spends exceed Rs.1 lakh)
    • Welcome gift voucher of Rs.8,250 from Yatra.com
    • Up to Rs.4,000 off on flight ticket bookings made through Yatra.com
    • 20% off on hotel bookings made within India through Yatra.

    Air India SBI Signature Card
    Apply Air India Credit Card
    • Joining fee - Rs.1,499; Annual fee - Rs.1,499.
    • 2,000 bonus reward points on every renewal.
    • Welcome voucher worth up to Rs.8,250 from Yatra.com on joining.
    • Up to Rs.1,000 off on domestic flight bookings on a minimum transaction amount of up to Rs.5,000.
    • Rs.4,000 off on international flight bookings on a minimum booking amount of Rs.40,000.
    • Discount of 20% given on domestic hotel bookings on a minimum booking amount of Rs.3,000.
    • 6 reward points for every Rs. 100 spent on departmental store, dining, grocery, movies and entertainment, and international spends.

    JetPrivilege HDFC Bank Diners Club
    Apply JetPrivilege HDFC Bank Diners Club
    • Joining fee - Rs.10,000; Annual fee - Rs.5,000 (waived if the total spends in a year equals Rs.8 lakh).
    • Welcome gift of up to 30,000 bonus Intermiles.
    • Get 8 InterMiles for every Rs.150 spent on retail expenses.
    • For every Rs.150 spent on every flight ticket booked on www.intermiles.com, get 16 InterMiles.
    • Unlimited complimentary golf games and lessons across the globe.
    • Personalised 24x7 concierge services for all your bookings.

    AXIS Bank Miles & More World Credit Card
    Apply AXIS Bank Miles & More World Credit Card
    • Joining fee - Rs.3,500; Annual fee - Rs.3,500.
    • Welcomes you with award miles and complimentary Priority Pass Membership.
    • Up to 55,000 miles can be earned in the first membership year.
    • 4 free visits per quarter to MasterCard lounges within India.
    • 2 free visits per year to priority pass lounges across the globe.
    • 24X7 concierge services to assist flight ticket bookings, gift deliveries, event bookings, etc.
    • Complimentary travel insurance that covers lost baggage, loss of card, and air accidents.

    Citi PremierMiles Credit Card
    Apply Citi PremierMiles Credit Card
    • 10,000 free Miles on the first spend made within 60 days of card issuance.
    • 10 Miles per Rs.100 spent on flight and hotel bookings made through PremierMiles website.
    • Complimentary access to select airport lounges within India.

    Credit Card Tips

    Keep a Check on Joining and Annual fee

    Almost all credit cards have a joining fee and annual fee. It is important that you keep a look out for these fees. A joining fee is the fee which needs to be paid to get the credit card and an annual fee is the amount to be paid at the end of each year.

    Annual fee and joining fee are minimal for basic credit cards and the more benefits a card offers, the annual and joining fees increases. Many cards offer a waiver of annual fees if you spend a certain sum of money in a year. All in all, the benefits of the card must be greater than the fee of the card.

    Things to Know Before Applying for A Credit Card

    How Many Days Will it Take for a Credit Card to be Renewed?

    Once the application for the renewal of your credit card has been approved and your documents have been verified, your application will be processed in two weeks’ time. Your new credit card will be issued within 7-10 working days.

    How does the Reward Points System Work for a Credit Card?

    The reward point system of credit cards allows you to earn reward points every time you spend on dining, shopping, travel, or make any bill payment. Every time you swipe your card, you will earn reward points which can then be redeemed at a later date. When you have finally accumulated enough points through your transactions, you can redeem the reward points for merchandise, air miles, gift vouchers, or cash. Based on the kind of credit card you own, you will need to have a minimum number of points in order to be able to redeem them. You should note that all reward points come with an expiry date and you will have to redeem them before that date.

    How Long are Credit Cards Usually Valid?

    No credit card is valid forever. Credit cards issued in India are usually valid for a period of 3 years. After the expiry date of your credit card, you will have to renew the card and ask the bank to issue a new credit card. This is done for security reasons and also because of the fact that credit cards are plastic cards that will get damaged over time with use. You will find the validity date of the credit card printed on the front of your card.

    Will the Number of my Credit Card Change When I Renew?

    When you apply for a new credit card, the number of your new credit card will remain the same. However, you will notice that the CVV will be different from your first credit card. This is done by the banks for protecting you from frauds. You should also note that the expiry of your credit card will not close your account and so your account number will also remain the same.

    Will the Rejection of Your Credit Card Application Affect Your Credit Score?

    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 credit 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.

    Credit Card Statement

    Credit card statement (or credit card bill) is generated every 30/31 days. The bill generation date depends on the date on which the credit 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.

    Transferring Money from Your Credit Card to A Bank Account

    In India, you cannot transfer money directly from your credit 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.

    Renewal of a Credit Card

    A few Indian banks have an automatic renewal process of credit cards in place. Some banks will require you to raise a request for the renewal of your credit card. These banks and credit card issuing companies will ask you to go through the application process all over again and this will include phone verification, physical verification, updating of income statements, address verification, and a review of your credit profile. There are many reasons that lead to the renewal of a credit card. These are defacement of EMV chip, card damage, credit card lost being or stolen, and abrasion of the magnetic strip.

    Your credit card comes with a pre-assigned credit limit. This limit is the total amount you can charge to your card. For example, if your credit card provider says that the credit limit on your card is Rs.25,000, it means that you can make transactions up to Rs.25,000 using your card.

    Each time you swipe your card, the amount is deducted from the total credit limit and each time you pay your bill, your credit limit is reinstated by that amount.

    Here's what affects your credit limit:

    • Income: Your monthly or annual income will be taken into consideration while determining your credit card limit. Based on the type of credit card you apply for, the income requirement will differ.
    • Type of card: Premium cards tend to come with a higher credit limit when compared to entry-level cards.
    • Debt-to-income ratio: This ratio compares the total amount of debt you currently have to your total income. The higher the ratio, the more debt you currently have, and vice versa.
    • Limit on other cards: If you already own a credit card, the credit limit on your new card may be the same amount.
    • Credit history: Good credit history means you are financially responsible. As such, the credit limit on your card will be higher when compared to those with poor credit history.

    There are many ways by which you can increase the limit of your credit card:

    • If your monthly income has increased, you can always submit proof of income documents to the bank and request an increase in the limit of your credit card.
    • The regular usage of your credit card will encourage banks to increase your credit limit.
    • You can also apply for a new credit card which has a higher credit limit as compared to your current credit card.
    • You can send a written request to the bank, for increasing the credit limit of your card. If you have been making timely payments, then most banks will approve your request and increase the limit of your credit card.
    • If you are able to hold a credit card long enough and make timely and full payments, then banks will increase your credit limit. You must note that the only issue with this method is that it will take time and you will have to be patient.
    • If you are able to regularly pay your credit card bills, your credit score will improve. The banks will then know that you are a responsible credit card holder. They will in turn offer an increase in your credit limit.
    • Credit cards tend to make you spend more money than you actually have. At times, you might even overspend. Hence, it is advisable to keep a budget for every credit card that you have and adhere to it. This will help you understand how much money you can charge on each card. You will have to pay interest if you carry over a balance every month.
    • You can always keep reminders in order to pay your credit card bills on the due date. You can also enable automatic payments on your phone. This way, the provider of your credit card will automatically deduct the amount from your account every month.

    When you don’t pay the total outstanding amount on a credit card by the due date, you’re automatically opting for the revolving credit facility. This means the borrowed amount which is not repaid on time attracts interest or finance charge.

    The interest charge is also applicable when you pay only the minimum amount due or anything less than the total amount due.

    Further, cash withdrawals attract interest from the date of the transaction till the date the amount is repaid in full.

    The interest rate is charged at a monthly percentage rate or an annual percentage rate (APR) and varies from card to card. The issuer will communicate the rate of interest at the time of card issuance.

    Interest rates charged by top banks are listed below.
    Credit Card Issuer Credit Card rate of interest on revolving credit
    State Bank of India Up to 3.35% per month
    HDFC Bank Up to 3.4% per month
    IndusInd Bank 3.83% per month
    Citibank 3.50% per month
    Axis Bank 2.50% to 3.25% per month
    Kotak Mahindra Bank 3.40% per month
    HSBC Bank 1.99% to 3.30% per month
    ICICI Bank 2.49% per month
    • A credit card is made of plastic and is vulnerable to wear and tear over time. With the number of times, credit cards are dipped in PoS machines and swiped at card machines, the face of the card will go through minor damages. Keep in mind that the magnetic strip on the credit card will also have a lot of scratches over time. In order to avoid a total damage and disfunction of the credit card, banks keep expiry dates for cards so that you can get a new one every few years.
    • When you make payment without your physical card (online payment), the payment interface will ask for the expiry date on your credit card and this serves as a checkpoint which the gateway will use for confirming that the details are valid. It is the combination of the expiry date, CVV, and credit card number which is verified before a transaction is approved. So, if a fraudulent user has the number of an expired credit card, the payment will not be successful.

    When managed properly, a credit card acts as an interest-free credit line. This means you don’t have to pay any interest if the borrowed amount is repaid in the stipulated time. The period between a transaction date and the credit card bill payment due date is called the ‘Interest-Free Period’.

    If you pay the transaction amount on or before the due date, you don’t have to pay any interest, hence the in-between period is termed as the interest-free period or grace period.

    The grace period varies for each credit card transaction and the typical period ranges from 30 to 45 days. Transactions carried out at the beginning of your credit card billing cycle would provide you with a longer grace-period.

    However, the grace period is not applicable if the previous month's due has not been paid in full. Also, cash withdrawals using a credit card are not eligible for grace period. Interest on such transactions would be levied from the withdrawal date itself

    The interest-free periods offered by top banks are as follows
    Credit Card Issuer Credit Card Interest-free Period
    State Bank of India 20 to 50 days
    HDFC Bank 20 to 50 days
    IndusInd Bank Up to 50 days
    Citibank Up to 50 days
    Axis Bank 20 to 50 days
    Kotak Mahindra Bank Up to 48 days
    HSBC Bank Up to 52 days
    ICICI Bank 18 to 48 days

    Credit card EMI is one of the useful features offered on credit cards. There are various options to use the EMI facility.

    1. Opt for EMI while transacting
    2. Convert to EMI after the transaction

    With the first option, credit cardholders can convert their purchases instantly into EMI while carrying out a transaction. However, the product/service or the retailer should have partnered with the card issuer.

    The second option allows users to convert any of the transactions or the total outstanding on the card into easy monthly installments (EMI).

    However, the request for conversion should be made within a specific period from the date of the transaction, say 20-30 days.

    While availing the facility, cardholders have the option to choose the repayment period which typically ranges from 3 to 24 months.

    Some issuers offer 0% interest while others charge a low or nominal interest rate. Furthermore, a processing fee of 1-2% of the converted amount may also be levied.

    Once you opt for the facility, you need to repay the EMI amount every month. The associated principal amount and the interest charge, if applicable, will be added to the minimum amount due on the card.

    The application for your credit card could have been rejected for many reasons. A few them are:

    • Insufficient funds
    • Non-frequent income
    • Unstable employment
    • Low credit score
    • Not meeting the age criteria
    • Employed with a delisted private company
    • Current address is on the defaulter list

    Here’s what you can do if your application for a credit card has been rejected:

    • Once your application for a credit card has been rejected, you will receive an "Adverse Action Letter” from the bank. This letter will have the reasons for your application being rejected. Make sure to read this letter carefully so that you will know what to do in order to avoid rejection of any future application.
    • You should immediately ask for a free copy of your credit report. Study the report to understand how you can improve your credit score before you reapply for a credit card.
    • Make sure to pay all your debts in full every time and never miss a payment date. This will eventually correct your CIBIL score.
    • If the application has been rejected on the basis of unstable employment or low income, you can apply for a secured credit card. This card will be issued to you against a fixed deposit. This service will in turn reduce the risk of default in payment to the lender.

    Credit Card FAQs

    1. What is the difference between a debit and a credit card?

      A debit card draws money from your account immediately when you make a purchase. Whereas a credit card enables you to borrow the money required against credit and you will have to pay the bank when you receive your credit card bill.

    2. What is credit card limit?

      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.

    3. Can I get a credit card online?

      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.

    4. What is the minimum credit score for a credit card?

      A credit score above 650 is ideal to be able to get a credit card

    5. Can I get a credit card without a job?

      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.

    6. Can I get a credit card in one day?

      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.

    7. Do credit cards come with any airport lounge benefits?

      Yes, a lot of credit cards come with access to domestic and international lounges at airports.

    8. Are there any benefits of having a credit card?

      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.

    9. Is it better to apply online or in person for a credit card?

      It is much easier to apply for a credit card online. You can avoid the hassle of going to the bank, standing in queues, physically filling out forms and providing documents. You can conveniently apply online, attach soft copies of required documents and submit your application, all within the comfort of your home.

    10. What is the minimum salary required to apply for a credit card?

      The minimum salary requirement to be able to have a credit card is different for every bank. The figure varies for salaried and self-employed individuals.

    11. How do credit cards work?

      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.

    12. How can I get a credit card for the first time?

      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.

    13. Do credit cards require proof of income?

      As your income does not show up on any of the credit reports, many credit card issuers do not verify your income source. However, proof of income could increase the chance of your credit card application being approved.

    14. Can I get a credit card with bad credit score?

      Credit scores above 650 are generally deemed as good for credit card approvals. Scores below 650 are usually considered poor, and approval may be subject to providing security (collateral such as fixed deposits).

    15. Which is the best and easiest way to apply for a credit card?

      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.

    16. How long does it take to get a credit card approved?

      The banks typically state that they would take a few hours or days to approve an application and take up to 21 days to disburse a credit card. However, depending on the applicant's profile, availability of documents, verification checks, etc., it might also take a little longer than the stipulated time.

    17. Can I use my credit card in other countries?

      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.

    18. Do credit cards offer protection against fraud?

      Not all credit cards do, but there are quite a few credit cards that come with fraud liability protection cover.If your card offers the protection cover. If most of the fraudulent transactions that might happen on the card when it's either lost or stolen will be covered. However, you need to intimate about the loss of the card immediately to the respective card issuer.

    19. Should I pay interest on all the purchases I make using a credit card?

      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.

    20. Should I get a charge card or credit card?

      Having a credit card would mean that you will get small and quick loans while you make your everyday purchases and it offers payment flexibility. If you are a charge cardholder, you will have to pay back the whole amount that you borrow every month on the due date and failure will lead to a heavy fee being charged.

    21. How many credit cards should I have?

      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.

    22. What does 'minimum due' mean on a credit card statement?

      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.

    23. If I make a late payment on my credit card, will it affect my credit score?

      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. But once reported, it would certainly affect your credit score.

    24. Do I need to pay a processing fee for a loan against credit card?

      Yes, banks do charge processing fee for loans against credit card. However, you need to pay a very nominal amount as processing fee.

    25. Which credit card has highest limit in the world?

      Chase Sapphire Preferred® Card has the highest limit of $100,000.

      

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    Credit Cards Reviews

    • RBL Bank Credit Card
      "Easy to convert for EMI "
      0.5 4.0/5 "Great!"
      I got RBL card offer from BAJAJ Finance. I have been using this card past 10 months which is a life time free card. The credit limit is sufficient of 55K. EMI conversion is avail and I can convert via mobile app whenever required with nominal charge. I use this card for general purpose. Based on usage I get points but not yet redeem it.
      Was this review helpful? 81
      , chennai
      Reviewed on Mar 21, 2020
    • SBI Cards
      SBI Cards Credit Card
      "Good service"
      0.5 4.0/5 "Great!"
      SBI credit card have offers and reward points but I have not redeem them yet, this is a domestic card, the credit limit is of 50000 which I am very much satisfied as per my need. I got my statement on time. I used this card for personal purposes.The card is very user friendly.
      Was this review helpful? 86
      , hyderabad
      Reviewed on Mar 21, 2020
    • SBI Cards Credit Card
      "Ok service"
      0.5 5.0/5 "Blown Away!"
      I am using SBI credit card for more than three months, there are some reward points and offers in the card. I used this card for online shopping, fuel surcharge and groceries.The credit limit of the card is sufficient and I like the most about the card is that it is a life time free card and very good to use.
      Was this review helpful? 79
      , hyderabad
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Ok service"
      0.5 5.0/5 "Blown Away!"
      The bank agent suggest me to take credit card from INDUSIND and I have taken it because it doesn't have any annual fee. The offer and reward points are available in the card are good. I am satisfied with the limit of the card. I used the card for general purposes. But it will be nice, if the offers and reward points will be more.
      Was this review helpful? 64
      , jaipur
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I am using INDUSIND credit card for 3 months. The card have no offers available and also there is no rewards. The only benefit is that its a life time free card and the credit limit is only for 75000 I am not that satisfied as i expected to get around 1.5 lakh. Apart from the limit over all experience is good.
      Was this review helpful? 62
      , chennai
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Excellent card"
      0.5 5.0/5 "Blown Away!"
      I have got INDUSIND credit card few months ago and I have used it for two months now ,the credit limit of the card is Rs.70000 which is a life time free card. The bank have informed me every details about the reward points and offers but I have not got any time check it. I am satisfied with their card service.
      Was this review helpful? 63
      , hyderabad
      Reviewed on Mar 21, 2020
    • ICICI Bank Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Am having ICICI credit card for two years, I feel good and have not face any issues. The best part about the card is its a life time free card. I used to get my card statement on time. I used this card for shopping, groceries and for many other personal purposes.I am using the bank mobile app which function smooth and simple.
      Was this review helpful? 78
      , faridabad
      Reviewed on Mar 21, 2020
    • SBI Cards Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have used SBI credit card for 2-3 months, but I have not got any time to check about the offers available in the card. The limit of the card is 38000 and I am satisfied because its a life time free card. I used to get my card statement on time and the net banking is also working very well.
      Was this review helpful? 82
      , faridabad
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Good service "
      0.5 4.0/5 "Great!"
      Since it is a life time free card offer from INDUSIND so I chosen it and applied through online. I received a call on time and they have done the verification process. Hence I received the card by 7 days, the credit limit is okay for me. Its easy to use for all purposes.
      Was this review helpful? 60
      , chennai
      Reviewed on Mar 21, 2020
    • Citibank Credit Card
      "Good "
      0.5 4.0/5 "Great!"
      CITI has provided good offers and benefits on 2 months before. So I chosen this card and applied through online. It is annual fee chargeable of 500 rupees bu there is waiver off option if I spend 30K within a year. The credit limit is 65K. There is EMI conversion avail for this card.
      Was this review helpful? 59
      , coimbatore
      Reviewed on Mar 21, 2020
    • HDFC Bank Credit Card
      "very good"
      0.5 5.0/5 "Blown Away!"
      I have used credit card from HDFC bank for 1 year which is very good and also very comfortable, its a life time free card and lots of offers are available in the card. This card was suggested to me by my colleague. Mobile banking also functions very smooth.
      Was this review helpful? 89
      , bangalore
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Average service"
      0.5 4.0/5 "Great!"
      INDUSIND bank credit card have an credit limit of of Rs.75000, there is no offers available in the card and it also have a charges of 3000 along with GST. I hardly receive any remainder messages for my bill payment due to that some time I could not pay my bill on time. I would advise them send my bill on time before the due date.
      Was this review helpful? 61
      , bangalore
      Reviewed on Mar 21, 2020
    • ICICI Bank Credit Card
      "Need to increase the credit limit "
      0.5 5.0/5 "Blown Away!"
      I have been using ICICI card for more than one year. They have provided an annual fee chargeable card and waiver off option is applicable. The credit limit is okay of 50K. Since I need to do purchase about 45K on some of the month so this limit is not sufficient. I swipe the card for travel, shopping and fuel purposes. I have not opted for EMI conversion.
      Was this review helpful? 64
      , kolkata
      Reviewed on Mar 21, 2020
    • Axis Bank Credit Card
      "Good card"
      0.5 4.0/5 "Great!"
      I have been using AXIS bank credit card for 3 years, Its a life time free card so I applied the card through bank. The agent have informed me everything about the card. I used to get offers of 10% on petrol bunk and shopping.The limit of the card is Rs.45000 and I used to pay my bill directly through bank.I am also using their net banking which is very good.
      Was this review helpful? 81
      , kolkata
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Good service"
      0.5 4.0/5 "Great!"
      I got INDUSIND credit card from few months ago.The card have an EMI conversion. I used the card for multi purposes like shopping, online payment, ticket booking. This is annually chargeable card, I am not satisfied with the credit limit of Rs.75000 as I am expecting more than than 1 lakh.
      Was this review helpful? 66
      , kolkata
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I got a life time free card offer from INDUSIND bank hence applied through online on three months back. I received the call on time and the process was done on smooth. I got the card on exact time frame. The credit limit is sufficient and they provided good offers and benefit as well.I use this card for shopping and travel purpose.
      Was this review helpful? 54
      , kolkata
      Reviewed on Mar 21, 2020
    • RBL Bank Credit Card
      "Average service"
      0.5 1.0/5 "Really Bad"
      RBL credit card is a chargeable card, I always have to go to Bajaj Finance to pay my credit card bill. I am not satisfied with the customer service which has to be improved. I used this card when ever needed for shopping, fuel surcharge and bill payment.The limit of the card is fine.
      Was this review helpful? 89
      , ranchi
      Reviewed on Mar 21, 2020
    • HDFC Bank Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      HDFC credit card is very convenience to use, I have been using the card for 4.5 months for Shopping, groceries, fuel surcharge and electricity bill payment also. I pay my credit card bill through ATM. I always get my bill on time, this card was suggested to me by the bank agent.
      Was this review helpful? 78
      , ranchi
      Reviewed on Mar 21, 2020
    • RBL Bank Credit Card
      "Okay service "
      0.5 3.0/5 "Satisfactory"
      I used RBL card for twice only. I get message or call for EMI conversion from banker. It is a life time free card. Once all the process done I received the card by 15 days. I am holding this card past 6 months. The credit limit is sufficient of 30K. Once I tried to convert for EMI of 3 months it was done on time without any problem. It is Bajaj card.
      Was this review helpful? 61
      , chennai
      Reviewed on Mar 21, 2020
    • SBI Cards Credit Card
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I have been using SBI credit card for the last two months, the credit limit of the card was satisfied it was Rs.9,80,000. The bank agent came and collect my document he have informed me every detail about the card. The card have a charges of Rs.2299 in a year. I used to pay my credit card bill through bank. Am getting my card statement in softcopy but I wish the bank can send me a hard copy statement also.
      Was this review helpful? 95
      , gurgaon
      Reviewed on Mar 21, 2020
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