Did you know that Mr. Kumar’s Credit Card gets him free movie tickets every month? Get A Card
Credit card is a small plastic card that allows you to borrow money instantly at the point of sale from your card provider to pay for purchases. The total borrowed amount has to be paid by the cardholder at the end of the billing cycle (it is generally a month long). Credit card payment is one of the most convenient and beneficial ways to pay for products. Unlike cash, credit card can be used to make online payments as well. Apart from allowing people to borrow money, these cards offer various rewards and benefits such as discounts, cashback, lounge access and memberships among many others.
It is very important to choose the right credit card or else you might end up losing on a lot of benefits. You must opt for a card after comparing it with the different cards offered in the market. There are many banks in India that offer various types of credit cards. The cards are categorized on the basis of the benefits they offer. For example – Travel credit card, Entertainment credit card, Shopping Credit Card, etc.
Mentioned below are the top 10 credit cards offered by banks in India considering the categories Fuel, Premium, Travel, Rewards, Shopping, Dining and Entertainment. These cards are chosen based on the rewards/perks they offer.
| Name of Credit Card | Joining Fee | Annual Fee from year 2 |
|---|---|---|
| IndianOil Citi Platinum Card | Will be communicated at the time of issue. | Annual fee is 0 when Rs.30,000 or more is spent on the card in a membership year. If not, annual fee is Rs.1,000. |
| ICICI Bank Coral Contactless Credit Card | Rs.500 | Rs.500 |
| Yatra SBI Credit Card | Rs.499 + applicable taxes | Rs.499 + applicable taxes |
| The Jet Airways American Express Platinum Credit Card | Rs.5,000 + applicable taxes | Rs.10,000 + applicable taxes |
| HSBC Visa Platinum Card | Nil | Nil |
| Citi Cashback Card | Will be communicated at the time of issue. | Rs.500 |
| HDFC Bank Diners Club Black Card | Rs.10,000 + applicable taxes | Rs.5,000 + applicable taxes |
| IndusInd Bank Platinum Card | Rs.17,999 | Nil |
| Axis Bank Neo Credit Card | Rs.250 which will be waived when customer spends Rs.2,500 on the card within 45 days from issue of card. | Annual from the second year is Rs.250. |
| Kotak PVR Gold Credit Card | Will be communicated at the time of issue. | Rs.499 |
Credit cards are perhaps one of the most utilised financial tools in the world today. These cards are similar to loans and can be availed with a swipe of the card. Ever since their inception in the 1950s, credit cards have had a significant impact on the economy.
In order to avail a credit card, certain eligibility criteria will have to be met. For example, the applicant must be earning a minimum annual income as defined by the credit card provider and must be an adult. Additionally, credit scores also play an important role.
Salaried individuals can avail a number of credit cards as long as they are earning a minimum annual income, as prescribed by the bank or credit card provider and have a good credit score. A number of companies in India provide salaried employees with a plethora of credit cards. Each of these cards come with different benefits and features and the eligibility criteria for each of these cards will vary.
Some of the best credit cards for salaried individuals in India, are as follows -
This fuel credit card helps you save money on fuel and at the same time earn rewards on all your purchases.
Benefits of Indian Oil Citi Platinum Card
This easy-to-use card is loaded with benefits, rewards, and discounts on dining and more. All the cardholder needs to do is tap it and go.
Benefits of ICICI Bank Coral Contactless Credit Card:
The State Bank of India (SBI) and Yatra have partnered to offer Yatra SBI Credit Card, which is one of the best travel credit cards in India at present. Apart from offers on domestic and international travel, this card has multiple benefits in store for the cardholders.
Benefits of Yatra SBI Credit Card:
This card provides cardholders with an unforgettable travel experience. It is offered by American Express in partnership with Jet Airways. It is very popular because of the different kinds of rewards it has to offer.
Benefits of Jet Airways American Express Platinum Credit Card
This credit card offered by HSBC bank is preferred by many people because of the endless rewards it offers. Cardholders can enjoy cashback, reward points, discounts and much more.
Benefits of HSBC Visa Platinum Card
This card allows you to earn while you spend. It offers cashback and other benefits on spends.
Benefits of Citi Cashback Card
This credit card is one of the most popular premium card in India. It does not just offer reward points, but provides the best protection, golf benefits, travel benefits, lifestyle benefits, etc.
Benefits of HDFC Bank Diners Club Black Card
This premium credit card is ideal for people who wish to live a posh life. It offers multiple lifestyle and dining benefits to the cardholders.
Benefits of IndusInd Bank Platinum Card
This card is loved by movie goers and shoppers. It offers some of the best dining, shopping and entertainment benefits in India. Cardholders can also earn reward points on their spends and make purchases on EMI.
Benefits of Axis Bank Neo Credit Card
This credit card has been exclusively designed for movie buffs. It is offered by Kotak Mahindra Bank in partnership with PVR Cinemas.
Benefits of Kotak PVR Gold Credit Card
We’ve picked the BEST reward Credit Cards for 2018 that will spoil you silly. Want to check them out?
HSBC Visa Platinum Credit Card
This card not only comes with a zero annual fee but also offers 20% discount at select restaurants & lounges in India. Also save up to Rs. 1,200 on all domestic flights on Clear Trip! How cool is that?
SBI Simply Save Card
This card will keep you happy all day long! It offers 10X rewards on all your dining, movies, grocery and departmental store spends. Also earn 1 reward point for every Rs. 100 spent on all other categories. How cool is that?
HDFC Bank Diners Club Black Card
Want to get pampered? Look no further! This card offers unlimited free airport lounge visits all across the world. Get 50 reward points at select retail & online partners too! That’s a steal.
SBI Simply Click Card
Love shopping? This card offers 5X reward points for all online spends. Also, earn 10X reward points on spends with exclusive partners. What’re you waiting for?
You do NOT want to miss out on these amazing Credit Card offers. Grab them before it’s too late! Didn’t find what you were looking for? Cheer up! We have other equally cool offers exclusively for you.
17th March 2018
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A store credit card, unlike a regular credit card, can be used only at a specific store or a set of retail chains. A store credit card, like a conventional credit card, carries a wide range of perks and benefits but you can only avail them when you use the card at their designated stores.
Here are a few advantages of using a store credit card
Discounts: A store credit card usually offers a large number of discounts on a regular basis. On certain occasions, the discounts may be as high as 50% of the selling price. From the card issuer’s perspective, this is a way to attract as many users as possible.
Reward points: Most store credit cards provide you reward points whenever you use them to make any purchase. Again the accrued points can be redeemed against a long list of options at the designated stores.
Sign-up benefits: Wherever you opt for a store credit card, you get a discount on all your purchases using the card. So if you are going for a high-value purchase using your newly acquired store credit card, you have the chance to save a lot of money on your purchase.
19 November 2018
Business credit cards have some obvious benefits over the regular personal credit cards. If you are looking for a credit card for your business purposes, there are a few important points that you must consider before making a choice.
Fees and charges: Usually, credit cards come with a relatively high rate of interest. So while searching for your business credit card, ensure that you explore multiple options to get the best rate. Another factor to consider is the interest-free credit period – the longer it is, the better. Also, understand the additional fees and charges like annual fee and renewal fee that accompany the card.
Card limit: A low credit limit would create inconveniences for you to carry out your business transactions but you should also use discretion while considering a very high limit. This is because at the end of the day, it’s you who will have to repay the loan that you get through your credit card.
Other benefits: Generally, the offers and benefits that accompany business credit cards are way more in number and greater in value than those offered by personal credit cards. Some of the best offers in credit cards are air miles, free access to airport lounges, dining and entertainment benefits, and benefits on fuel transactions.
15 November 2018
Google has announced some good news for the existing Nexus and Pixel users in India. The news is that these customers will be getting a Google Home Mini for free if they upgrade to the latest Pixels. The Home Mini can be picked up from the sale point itself and in the event of its unavailability with the retailer, customers will be intimated as soon as it’s back in stock. This offer can be availed at select offline stores from 1st November to 7th November.
In addition to the Home Mini, customers can also opt for cashback of up to 5% through cards of select banks and no cost EMIs. The cashback can be availed by customers using Citibank credit card, HDFC Bank debit or credit card, BFL super cards, and RBL credit card. This offer can be availed by all buyers and not only Pixel or Nexus users.
The flagship duo is being offered in 3 colours - Clearly White, Not Pink, Just Black. The price for the Pixel 3 is Rs.71,000 for the 64GB variant and Rs.80,000 for the 128GB variant and that of the Pixel 3XL is Rs.83,000 for the 64GB variant and Rs.92,000 for the 128 GB variant.
2 November 2018
If you have been offered a pre-approved credit card, it usually means that the card issuer is convinced that you are eligible for the credit card as you meet the necessary criteria. This is determined by doing a soft credit check and it does no harm to your credit.
You chances of getting approved go up as you continue to meet the standards and the income as required by the card issuer. One of the major benefits of getting offers of pre-approved credit cards is that you may receive a very tempting introductory annual percentage rates (APR). If you receive several offers, you get the chance to learn different credit products and then choose the one that is offering the best deal.
If you are looking for a pre-approved credit card but have not received any offer in the mail, it doesn’t always mean that you are not eligible for one. It’s just that some card issuers make it easy for individuals to check their eligibility by just entering their basic information.
24 October 2018
In the next step towards powering digital transactions, the Ministry of Finance has requested the incorporation of Near Field Communication (NFC) chips into credit and debit cards. The Ministry believes that since a majority of the point-of-sale (PoS) terminals are compatible with NFC chips, an innovation of this nature could promote card security and convenience. These cards could soon be integrated with mass transit commute viz. metros, buses and local trains. The consumers would be able to make payments for the ticket by merely tapping their card while using public transport. In an attempt to curb complications, the NFC chips could be integrated only while reissuing debit and credit cards. RBI data shows that the debit card use at PoS terminals has escalated by 24% in April i.e. 333 million from 264 million transactions. This innovation could be a boost to the already growing rate of digital transactions.
25 July 2018
• Do not share your credit card information with anyone on phone calls, messages, or emails. Even if you feel the other person communicating to you is reliable.
• When you share your credit card information over the phone with your loved ones, make sure no one overhears you.
• Do not write your credit card information down anywhere.
• Do not write your credit card PIN at the back of your card. If you lose your card, the person who find it will be easily able to use it using the PIN.
• If you notice anything suspicious on your credit card, report it immediately to the credit card provider and make sure you block the card.
• If you use your card to make your retail payments and other bills, follow the news from time to time. If the database of your retailer or any other biller is hacked, please get in touch with the bank and inform them about the same and block the biller from auto-debiting your credit card.
Please educate yourself about credit card fraud and make sure you take precautions before swiping your card.
17 July 2018
According to research conducted by Credit Rating Information Services of India Limited (CRISIL), a global analytical company, unsecured loans to individuals, small and medium-sized enterprises (SMEs) and credit card loans has performed considerably well and have outpaced the growth in the total bank credit in the last 3 fiscal years. The unsecured loans clocked a compounded annual growth rate of 27% which is four times the growth in bank credit.
Financiers are focused to concentrate on these segments going forward as the yields or return on assets are 2.5-3.0% for personal and SME loans, and 3-4% for credit cards. Whereas, the yields are less than 2% for home loans and new passenger vehicle loans.
12 July 2018
IDFC bank in partnership with ePayLater has unveiled India’s first digital credit card. The advantage that the digital credit card holds over normal credit cards is that the customer does not need to go through the arduous process of applying for it. Customers will be able to avail real time credit using the digital credit card via BHIM UPI services and the credit limit will depend on the estimations made by advanced machine learning techniques. The estimation will be calculated using data collected on purchase patterns, social media and device information and digital footprint.
To get a digital credit card, the customer needs to download the ePayLater app. After the credit limit for the user has been calculated, purchases can be made online and offline using the digital credit card. The app allows the user to have a 14-day limit for paying the credit card bill interest free for every purchase made via it. A digital credit card also prevents the hassle of carrying a card, instead you can make transactions directly through your phone.
21 May 2018
In March 2018, the number of credit cards increased to 37.48 million in India, with 0.55 million new cardholders as per the Reserve Bank of India (RBI). The number of debit cards rose to 861 million, with the addition of 5.6 million cards. India added nearly 6.18 million debit cards and 7.68 million credit cards between March 2017 and March 2018. Credit card transactions grew by 20% year-on-year, while debit card transactions grew by 17.6%. As for the total number of transactions in March 2018, credit cards recorded 127.3 million and 318.9 million through debit cards.
The total transactions in terms of amount through credit cards stood at Rs.44,308 crore in March 2018, a 35% increase in the 12 month period. As for debit cards, the amount transacted stood at Rs.41,857 crore, a 17% increase for the 12 month period. As for the average amount transacted per transaction on credit cards, it rose by 12.4% between March 2017 and March 2018, while debit card average amount transaction fell slightly during the 12 month period.
16 May 2018
The RBI-backed national payment gateway, National Payments Corporation announced its plans to ramp-up its productivity in the credit card sector. The managing director and CEO of NPCI has said that after stabilising the debit business, the corporation is planning to focus on the credit card sector. The NPCI, which addresses itself as an alternative to the Visa and MasterCard, believes that there is a lot of opportunity for the credit card sector to grow.
11 May 2018
