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 - 08 Dec 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 Cash Back Credit 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 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.
This 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.
When you die, 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.
As the digital payments sector experiences phenomenal development, fintech platform Razorpay on Monday announced an industry-first effort to enable retailers to accept credit card transactions on Unified Payments Interface (UPI). Razorpay merchants can now start accepting credit card payment on UPI as RuPay credit cards has been enabled on UPI.
The reward points program and fee structure has been revised for some of the HDFC Bank, which will be into effect from 1 January 2023. As per the new fee structure, 1% of the total transaction amount will be charged from the second rental transaction of the calendar month in case of rent payment through a third-party merchant.
The HDFC Bank credit cards will also levy 1.00% as international transaction charges, as per the revised fee structure. For flights & hotel bookings on the HDFC Bank SmartBuy portal, the redemption of reward points for Infinia, Diners Balck, and all other cards are capped at 1,50,000, 75,000, and 50,000, respectively. Redemption of reward points for Tanishq vouchers and against statement balance on Infinia cards and for Millennia, Easy Emi millennia, Bharat, Pharmeasy, and Paytm cards will be capped at 50,000 and 3000 points, respectively.
Redemption of points on selected products and vouchers will be capped at 70% of the total value. Rent payments and government and education-related transactions will not earn reward points except for some of the selected cards. Grocery transactions will earn 2000 and 1000 reward points on Diners Privilege, Diners Premium, Diners Clubmiles, Diners Balck, Infinia, Regalia, Regalia Gold, Business Regalia first, Business Regalia, and Tata Neu Infinity cards, and the rest other cards, respectively.
In order to avoid negative amortization, the RBI wants banks and card issuers to determine the minimum amount owed on credit card bills.
According to the new rule, credit card issuers have to set a minimum amount due that is high enough so that the outstanding balance can them then be cleared over a reasonable time frame.
Finance charges and taxes and other penalties that are applicable should not be capitalized in the subsequent statement.
Beginning on 15 November 2022, SBI Card will levy a processing fee for rent payments made with credit cards. Customers who pay their rent using a credit card will be charged Rs.99 plus Goods and Services (GST), according to an SMS that was issued to them.
India's fastest-growing B2B Retail Tech platform for Electronics, Arzooo, partners with HDFC to launch purchase cards for offline retailers to offer interest-free credit. These cards will also provide a credit limit of up to Rs.1 crore and are integrated with Arzooo mobile applicable. Arzooo is introducing these cards with a target to roll out more than a lakh of cards in the next 12 months and to digitize the neighborhood electronic store.
Uni Cards, a Fintech company has launched its co-branded credit cards and loans. They have launched their products soon after the Reserve Bank of India (RBI) has introduced digital lending norms that loan disbursals and repayments should take place directly between customers and banks.
The newly launched Flipkart Axis Bank Super Elite Credit Card has numerous benefits and incentives on various platforms such as Zomato, Myntra, Hotstar, PhonePe, Clear Trip, Airtel, Paytm, and more. With a membership cost of Rs.500, you can avail discounts on both online and offline transactions. You are eligible to apply for this credit card if you draw a minimum salary of Rs.15,000 monthly. If you are a self-employed business professional, you need minimum earnings of Rs.30,000 per month.
On the strength of substantial growth in new credit card issuances on its platform, BankBazaar's annual recurring revenue (ARR) base reached Rs 170 crore in September. Credit sales, which made up the majority of the company's income in the second quarter, surged by 115% year over year, according to CEO Adhil Shetty, who spoke to FE. This is consistent with recent RBI data showing a huge increase in credit card and UPI payments. Following a two-year decline due to Covid, the increase in credit card spending and internet transactions also points to a significant shift in consumer purchasing habits.
National Payments Corporation of India (NPCI) and SaaS FinTech company, Zaggle, joins hand to launch contactless RuPay credit cards. This initiative addresses the increasing demand of Corporates, SMEs, and consumers. These cards would be applicable for international as well as domestic transactions. From digital onboarding and instant issuance to intuitive in-app experience, cashback and reward points, and many more, customers will be provided with a host of benefits.
Slice, one of the leading fintech companies has interacted with its customers that it is likely to stop the operations of its cards temporarily for next month as it integrating with a new system. The company has asked its card users to open a prepaid account which will be linked to its cards.
Amidst the festive season, credit card spending reached the highest level of Rs.1.22 trillion in September 2022. The large players in this credit card market, SBI Cards, Axis Bank, and ICICI Bank, have gained market share in spending by 19%, 28%, and 18%, respectively. Credit card spending made by customers rose by 9.00% month-on-month (MoM) and 53% year-on-year (YoY), despite a net reduction of nearly 290,000 cards, as per the Reserve Bank of India (RBI) card deactivation norms.
NPCI Bharat BillPay Ltd. Partners with Kotak Mahindra bank to introduce Kotak Credit cards for bill payment on the Bharat BillPay ecosystem. Due to this initiative, Kotak credit card holders will be able to pay bills through Bharat BillPay-enabled channels. Bharat BillPay automatically retrieves the customer details once the user enters the last four digits of their credit card and provides a hassle-free payment experience.
The State Bank of India has revised its charges on credit cards. The new charges will come into effect on 15 November. The processing fee on Equated Monthly Instalment (EMI) transactions has been increased to Rs.199 + applicable taxes. Apart from this, the processing fee on the rent payment transactions has been hiked to Rs.99 + applicable taxes.
RBL Bank and BookMyShow have announced a collaboration to introduce a new credit card, 'Play.’ The 'Play' credit card will be offered to select BookMyShow customers and will provide them with lucrative offers on transactions across movies, live entertainment offerings, etc. While BookMyShow customers can buy the 'Play' credit card by paying an annual price of Rs.500, the superlative product will be available at no cost to BookMyShow Superstars.
The National Payments Corporation of India (NPCI) has made an announcement that there will be no charge for RuPay credit card use on Unified Payments Interface (UPI) for transaction up to Rs.2,000.
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