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 - 05 Oct 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 the cardholders. The offer varies from one bank to another.|
|Add-on Cards||Many banks allow their credit cardholders to apply for add-on credit cards for their immediate family members.|
|Insurance Coverage||Some premier cards provide a comprehensive insurance policy that provides coverage against air accident, life, lost baggage, lost card, outstanding, etc.|
|Balance Transfer||Credit cardholders can transfer the outstanding balance of their existing cards issued by one bank to the credit card account of another bank.|
|Global Acceptance||Today, most credit cards that are issued in India are international credit cards and are accepted by various merchants all over the world.|
|EMI Conversion||The feature allows the credit card members to convert their credit card transactions into easy monthly instalments (EMIs).|
|Credit Score||Owning a credit card helps you build a healthy CIBIL score. By making timely payments on your card and in full, you receive a positive credit score from credit bureau, CIBIL.|
The eligibility criteria of a credit card are dependent on a range of factors. Check out the primary eligibility criteria for credit cards
|Employment status||Salaried or Self-employed|
|Income||Depends on one bank to the other|
|Credit Score||Good credit score (700 and above)|
Applicants can submit any one of the ID proof, address proof, and income proof documents listed below.
|Requirements||Salaried Individuals||Self Employed|
|ID Proof||Passport, Permanent Account Number (PAN) card, 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|
You can apply for a credit card, both online and offline. Due to the COVID-19 pandemic, the credit card application process has been digitized, making it simpler and faster.
You can Compare & Apply for a Credit Card on BankBazaar by Following 4 Simple Steps:
Alternately, you can also apply for a card online on the bank’s website by following these steps:
Note: Each bank may have a different application procedure. Visit the bank's website for more details regarding how to apply for their card online.
BankBazaar offers an end-to-end application process, wherein you can browse through most of the credit cards offered by various banks, compare and apply for the best credit card in just a few clicks.
Let's look at the perks that we offer for applying for a credit card through us.
The following are some of the important tips on how to use a credit card:
If you have more than one credit cards, ensure you are using the right one based on your needs. For instance, use a travel credit card if you spend a considerable part of your income on travel such as booking flight tickets, hotels, and more. This way you can earn reward points.
One of the best ways to use credit cards is converting your purchases into EMIs and repay the bills as per your convenience.
Many lenders allow its credit card users to convert their unutilized credit limits into personal loans at a nominal interest. This helps credit card users to meet their urgent needs in no time.
Credit cards offer 2x reward points when you purchase online.
Banks allow its credit card users to redeem their reward points to get discounts on hotel bookings, flight tickets, etc. These reward points provide exclusive shopping vouchers, cashbacks and recharge voucher to the users.
Shopping Credit Cards are typically affordable with an annual fee starting from Rs. 500. The benefits offered on the cards including the welcome gifts, reward points, deals and discounts, etc., revolve round the shopping category.
Lifestyle Credit Cards typically come with a high annual fee and joining fee, which of course, is worth spending for the privileges offered by the cards. Some cards also have low or no annual fee and are designed for low-income group individuals.
Fuel Credit Cards provide accelerated reward points on fuel spends, fuel surcharge waiver facility, reward points redemption against fuel purchases, and other value back benefits, enabling users to keep fuel costs under check.
Rewards Credit Cards offer accelerated rewards on most of the spending categories. Credit card issuers provide a wide variety of redemption options ranging from gifts to air miles to cashback.
Cashback Credit Cards offer cashback, cash rebates, and other money-saving benefits on most of the credit card spend.
Mostly providing air travel benefits, Travel Credit Cards are best suited for frequent travellers. The features and services offered on the cards revolve around air travel.
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 email and calls that you may receive. You have to report any fraudulent credit card transactions to your bank at least within two days of the event from happening. A few banks also allow you to block your credit card online. Keep in mind that with the growing cases of cybercrimes, you need to be very careful as to where and to whom you give your credit card information.
Credit cards are an essential financial tool that enables its holders to make purchases and have the luxury of paying back the amount later. A credit card comes with a bank-approved credit limit, and the holder must pay back the amount due on the due date, which is mutually decided by the bank and the holder.
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.
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 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.
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 can be repaid over a specified period of time. You can avail discounts, cashback, and reward points on your credit card spending.
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.
A credit score above 750 is ideal to be able to get a credit card.
Even if you do not have a job and have a pretty substantial cash inflow into your account every month or so, you are eligible for a credit card.
Yes. Due to the online application system, your credit card application could be approved in one day. However, you will not get the physical credit card in one day.
Yes. A lot of credit cards come with access to domestic and international lounges at airports.
Yes. Most credit cards come with a reward point system, where you earn a point every time you spend a said amount of money. You can then redeem these points for vouchers, cashback, or air miles.
The number, one should own is not fixed. It depends on your financial ability and your spending behaviour. However, ensure to manage all the cards properly.
Credit scores above 750 are generally deemed as good for credit card approvals. Scores below 750 are usually considered poor, and approval may be subject to providing security (collateral such as fixed deposits).
The best and the easiest way to get a credit card is to apply for it on a platform like BankBazaar. You can compare the features, benefits, fees, interest rates etc. and then choose a card that best suits your needs.
No. You don't have to pay interest on all the transactions. However, if you're not repaying the due amount within the stipulated time, the unpaid due would attract interest along with all the new transactions, till the due amount is repaid in full.
The minimum amount due is the minimum amount a credit cardholder needs to pay in case he/she is not able to pay the total outstanding. It is typically 5% of the total outstanding amount on the card.
Yes. Banks do charge processing fees for loans against credit cards. However, you need to pay a very nominal amount as a processing fee.
Credit cards are automatically renewed towards the end of the expiration period. A renewed card with a new expiration date is usually a month before the existing card's expiration.
Credit cards issued in India are usually valid for a period of 3 years.
The renewed card usually has the same number as your expired card, but the new card's CVV (Card Verification Value) number is different.
It depends on your card type. If your credit card is accepted globally, you can use it in other countries as mentioned by your card issuer. However, a certain fee known as the foreign transaction fee will be charged for all the purchases made abroad.
It depends on various factors - the number of days late, the number of instances and the amount due. Based on all this your credit card issuer would take a call about whether or not to report the same to the credit agencies.
Yes, you can always reopen a credit card account if it is closed. How long ago you closed the credit card account will be taken into consideration by the credit card issuer. However, keep in mind that there is no guarantee that the issuer will allow you to reopen the account.
Almost all credit card issuers will not charge you any fee if your credit card hasn't been used for months. It is unlikely that they will charge you an inactivity or dormant account fee. Inactivity fee is generally charged on deposit accounts, but this will depend on the credit card issuer.
You do not have to use your credit card every month, but you need to use it often to avoid the bank from labelling it as an inactive account.
Different banks will charge different fees. Typically, the charge will range from 2.5% to 3% of your transaction amount. This will be subject to a minimum amount of Rs.250 to Rs.500.
When you lose your credit card, you need to notify the bank immediately and they will block your account.
The four major credit card networks are American Express (Amex), Discover, Mastercard, and Visa.
Yes, you can use your credit card without a PIN. A PIN is required if you plan to use the card for cash advances at ATMs.
Yes, you can always get a credit card without having a credit score. However, the bank will charge a higher fee. Usually, banks accept a CIBIL score in the range of 700-750 and above to issue a credit card.
This process is also known as cash advance. The maximum amount that you withdraw from an ATM using your credit card will be set by the bank. Keep in mind that this is generally capped at up to 30% to 40% of your credit card limit.
You must be at least 18 years old to apply for a credit card.
In case you apply for a credit card online, the approval process may be completed within a day.
You can use international credit cards in India if the service is available by the bank. You can always contact the bank to know more about using your international credit cards in India.
Yes. You can set a transaction limit for your credit card. You will have to contact the bank credit card customer care to set the limit.
You can reach the credit card customer care of a bank by calling their customer care number or by writing to the customer care email ID.
You can easily disable or enable international transactions either by contacting the bank customer care or via online methods - the website or the bank app.
You will have to submit a form to change the phone number of your credit card. For some banks you can change your number online and for a few banks you will have to visit the bank.
An EMV chip credit card works with all payment acceptance devices. These have to be certified and compliant with EMV chip-and-PIN standards. When a transaction is made, you will insert the card into the terminal and the card reader and the chip will communicate and authenticate your transaction.
The credit card issuer will decide the credit limit for your credit card by looking into a lot of factors like your repayment history, credit score, etc.
Yes, the bank can charge between 1% and 4% for an international transaction.
A CPP is a service which will protect your credit card from loss, theft, fraud, etc.
Yes, you can pay your credit card bill with another credit card.
When you die, the payment of the remaining bills have to be made by the legal heir.
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.
After the new Reserve Bank of India (RBI) norms came into effect, the number of active credit cards dropped in August. As per the new norms of the RBI, credit cards that are not active for one year will be deactivated. When compared to the month of July, the number of active credit cards have fallen from 80 million to 77.99 million in August.
The tech company Samsung and Axis Bank have launched a credit card in collaboration. The card will be available in two variants -- Visa Signature and Visa Infinite. On shopping Samsung products, the card will offer 10 per cent cashback. Cashback will be available on both EMI and non-EMI transactions and will be offered over and above existing offers. This card is designed to offer rewards to customers every time they make a Samsung purchase.
With the launch of the government-backed RuPay credit card's unified payment interface (UPI), customers can now pay for goods and services at merchant locations by scanning QR codes rather than utilising a POS terminal. The majority of RuPay credit cards are issued by public sector banks, and they will be instantly scanned at merchant locations that support QR codes thanks to a UPI ID connection to a virtual payment address. In terms of expenditures, RuPay credit cards currently hold a one-fifth market share in India.
From 20 October 2022, rent payments made through ICICI credit cards will attract a 1% fee. ICICI Bank is the first to charge a fee for credit card rent payments, and others are likely to follow the same path. The 1% fee imposed by ICICI bank is in addition to the transaction fee imposed by online platforms. This fee was implemented to prevent credit rotation through fake rent payments.
In August, the Unified Payments Interface (UPI) transaction increased from ?9.83 lakh crore in April this year to ?10.73 lakh crore as per the Reserve Bank of India. The data also showed that the credit card spends through point-of-sale terminal increased from ?29,988 crore in April this year to ?32,383 crore in August.
PhonePe introduces token-based transactions to reduce the risk of transaction fraud and data leakage by tokenizing over a million credit cards. This fintech platform started implementing tokens in December 2021 in line with the RBI’s mandatory card tokenization. PhonePe is the first digital payment platform to tokenize RuPay, Visa, and Mastercard and is about to meet the deadline by 30 September. Around 80% of their active users have already tokenized their cards.
The subsidiary of Bank of Baroda, BOB Financial Solutions and Snapdeal in partnership with National Payments Corporation of India (NPCI) and Japan’s JCB International Co. Ltd. have launched the “Snapdeal BoB JCB RuPay Credit Card”. According to the statement issued, the co-branded credit card users will get up to 5% unlimited cashback on the Snapdeal app and website. The card also offers 10 Reward points per ?100 spent on online, grocery and departmental store spends.
A credit card that focuses on cashback has been introduced by SBI Cards and Payments Services Ltd. The company announced recently in a stock exchange filing that the credit card will allow cardholders to receive 5% cashback on all online purchases without any merchant limits. Additionally, a customer can earn 1% cashback on all purchases, unlimited, and 5% cashback on all online purchases, up to a maximum of 10,000 rupees per cycle of the monthly statement.
In July 2022, credit card spendings touched an all-time high Rs 1.16 trillion. The growth registered was 6.5% on a monthly basis. In order to promote festival spending, many credit card issuers have lined up special offers.
ICICI Bank has made an announcement about its collaboration with National Payments Corporation of India (NPCI) to introduce a range of credit cards on RuPay. To start with, the ICICI Bank RuPay Credit Card is available in the Coral variant of the Gemstone series of the bank which will be followed Rubyx and Sapphiro variants of the contactless credit card soon.
India has finally lifted the ban on American Express after the latter demonstrated satisfactory compliance with the storage data codes. American Express will now be allowed to onboard new customers, Reserve Bank of India said in a statement.
Bank of Baroda (BoB) launched the Yoddha co-branded Rupay credit card for personnel working for the Indian army. The credit card has been launched by BoB in partnership with National Payments Corporation of India (NPCI).
The credit card, apart from being contactless, will offer a myriad of benefits including personal accident insurance, fuel surcharge waiver, etc.
On 24 August 2022, HDFC Bank announced that they had tied up with Tata Neu to provide two credit cards. The two credit cards that are launched are Tata Neu Infinity HDFC Bank Credit Card and Tata Neu Plus HDFC Bank Credit Card. Reward points can be earned for both in-store and online spends. The cards can be used for international and domestic purchases.
On Monday, Punjab National Bank (PNB) launched a pre-qualified credit card that offers a wide range of benefits which includes insurance coverage. All salary account customers can apply for this facility through the PNB One mobile banking app, website, or Internet Banking Service (IBS). This service will be offered under two platforms: RuPay and Visa.
Additionally, the bank has added a new feature that enables quick overdrafts against fixed deposits on PNB One with just one OTP. Customers can apply for loans without going to a bank branch. PNB stated that applications made through online platforms like PNB One qualify for a 0.25% interest rate concession.
A discussion paper was released by the Reserve Bank of India (RBI) regarding the charges for payments made through online channels. The Central Bank seeks the opinion of the public which can be provided by 3 October 2022.
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