Best Cashback Credit Cards in India

Features and Benefits on Cashback Credit Cards

HDFC Bank MoneyBack Credit Card

Key Highlights: Reward points earned on the HDFC Bank MoneyBack Credit Card can be redeemed for cash against card outstanding.

Joining fee: Rs.500

Renewal fee: Rs.500 (from 2nd year onwards).

Joining bonus: 500 reward points will be credited upon paying the joining fee.

Features and benefits:

• 2 reward points on every Rs.150 spent.
• 4 reward points on every Rs.150 spent on online shopping.
• Spend Rs.50,000 in a quarter and get e-voucher worth Rs.500.
• Free accidental death insurance up to Rs.50 lakh.
• Zero liability on lost card.
• 1% fuel surcharge waiver on fuel transactions of value Rs.400.

Rewards redemption option: Reward points can be redeemed for cash against card outstanding (100 reward points = Rs.20). Also redeemable for air miles and gifts from rewards catalogue.

HDFC Bharat CashBack Card

Key Highlights: HDFC Bharat CashBack Credit Card provides cashback on multiple categories including fuel spends, EMI purchases, HDFC SmartBUY and PayZaap transactions.

Joining fee: Rs.500

Annual fee: Rs.500 (Waived if the spends in previous year exceed or equal to Rs.50,000)

Features and benefits:

• 5% cashback on railway ticket bookings via IRCTC, fuel purchases, grocery spends, all bill payments and recharges.
• 5% cashback also applicable on all EasyEMI, SmartBUY, and PayZapp transactions.
• 1% fuel surcharge waiver applicable on all fuel transactions of minimum transaction value of Rs.400.
• Zero liability on lost card.

Rewards redemption option: NA

Standard Chartered Manhattan Platinum Credit Card

Key Highlights: Catering to shoppers, the Standard Chartered Manhattan Platinum Credit Card is loaded with various cashback offers, attractive rewards and convenient payment options.

Joining Fee: Rs.999

Annual Fee: Rs.999

Features and benefits:

• 5% cashback on supermarkets and departmental stores spends above Rs.1,000.
• 3x more reward points on all retail spends.
• Discounts and offers across various categories including travel, dining, shopping, and other through Standard Chartered Good Life programme.

Rewards redemption option: Reward points can be redeemed for products, vouchers or services listed in the rewards catalogue.

Kotak Delight Platinum Credit Card

Key Highlights: Kotak Delight Platinum Credit Card offers cashback on dining and movies.

Joining Fee: Rs.1,999

Renewal Fee: Rs.299

Features and benefits:

• 10% cashback on dining and movie tickets on spends of Rs.10,000 for transactions excluding dining and entertainment.
• Enjoy a maximum of 8 free PVR tickets or Rs.1,500 cashback every year
• Spend Rs.1.25 lakh every 6 months and get Rs.750 cashback or 4 free PVR tickets.
• Fuel surcharge waiver on transactions in between Rs.400 and Rs.4000.
• Credit shield cover of up to Rs.1.25 lakh through Delight Shield.

Axis Bank ACE Credit Card

Key Highlights: With Axis Bank ACE Credit Card you can avail discounts on all your daily expenses made with the card.

Joining Fee: Rs.499.

Annual Fee: Rs.499

Features and benefits:

• 5% cashback on bill payments, electricity bill and gas bill payments.
• 1% fuel surcharge waiver.
• 4 free lounge visits every calendar year.
• Get up to 20% off on your dining bills at partner restaurants.

Eligibility to Apply for Cashback Credit Cards

Note: You can get in touch with the respective banks to find out the income criteria to be eligible for the above-mentioned credit cards.

How to Apply for Cashback Credit Cards Online?

BankBazaar is an authorised partner of many private and nationalised banks and provides an online platform to apply for credit cards. You can check your eligibility for a cashback credit card, apply for it and upload the required documents to get instant approval.

• On the cashback credit cards page, find the list of cashback credit cards you can apply for on the top.
• Choose a card and click on the 'Check Eligibility' button
• Enter the required details to know the eligibility for the card.
• If you're eligible, you can apply online for the same card by following the subsequent steps.

On successful submission of all the documents and application, you will receive an 'Application ID', which can be used to track your application using the 'Track Application' feature.

Other Cashback Credit Cards

In addition to the cashback credit cards listed above, there are some more cashback credit cards that may not provide direct cashback benefit but provide an option to redeem reward points against cash.

FAQs on Cashback Credit Cards

1. Will the cashback be credited to the credit card account?

   Yes, the cashback which is received will be credited to your credit card.

2. How long does it take for the cashback to be reflected in the account?

   Once a purchase has been made which is eligible for cashback, the amount will be credited within 5 working days.

3. How can I maximise on my cashback credit card?

   It is advised that you make use of your cashback credit card on larger purchases so as to benefit most from it.

4. Should I get a cashback credit card if I have a reward credit card?

   You can consider a cashback credit card as well. This is if the rewards credit card does not cover a certain spending category that you tend to spend most on.

5. How old should I be to get a Standard Chartered Manhattan Platinum Credit Card?

   You should be between 21 to 65 years to get a Standard Chartered Manhattan Platinum Credit Card.

6. How to select the right cashback credit card?

   The choice of the best cashback credit card depends on how you plan to use the credit card. As credit card benefits are inclined towards specific categories, it is extremely important to understand your need when selecting any type of cashback credit card. You also have to compare the credit cards based on the cashback rate, annual fee, and bonus categories.

7. Which is better cashback or rewards?

   The idea behind rewards and cashback are similar as they are incentives for using your card. Cashbacks are easy to manage, but reward points are complicated as you have to follow extra steps to accumulate the points and redeem them. Various credit cards allow their users to convert the reward points into cash, but you may get the same amount. On the other hand, some reward credit cards allow you to convert into miles.

8. How to maximize cash back on your credit card?

   One of the best ways to maximize the benefits of cash back credit cards is to use them for the bonus category of expenses. For instance, if a cashback credit card provides fuel benefits, its users can put the fuel expenses on this card to utilize its best.

9. Is a cashback credit card worth it?

   Any credit card is worthy if its users know how to manage the card properly to reap maximum benefits. Most cashback credit cards charge a low annual fee, so you can enjoy a lot of benefits even if you do not put every expense on the card.

10. Can NBFCs offer cashback credit cards?

    NBFCs are not permitted to engage in the credit card industry without the Reserve Bank of India's prior authorisation.