6 Best Credit Cards in India


Nowadays, India is heading towards a cashless economy which means all of your financial transactions are made through digital means. RBI and Government are making several efforts to reduce the usage of cash by introducing the digital payment devices such as net banking, debit cards, credit cards and e-wallets. A cashless economy doesn’t mean that there is a shortage of cash, it indicates a culture of people setting financial transactions in a digital mode.

Though there are several modes of digital payment devices, most people love to use credit cards after “demonetization”

What is a credit card?

A Credit card is a card which is issued by a financial company used for making payments. This card gives an option to the cardholders for making purchase transactions on credit. It allows you to purchase items without cash. If you don’t pay your payment after a grace period of 30days, then you will be charged an interest on your purchases.

Most important things which you should consider are:

  1. Which credit card to choose?
  2. Which is the best credit card in India?
  3. How to choose the best credit card for yourself?

Which credit card to choose?

As there are several numbers of credit cards available in India, choosing a right credit card is little difficult. So while choosing a credit card, certain things you should keep it in mind, which are as follows:

  • If you don’t pay the whole balance each month, you can compare the Annual Percentage Rate (cost of borrowing on your card) for different cards. This will help you to choose the cheapest.
  • If you don’t pay the whole balance each month, you will be asked to pay a minimum amount which may around up to 3% of your due amount.
  • Some credit cards charge fees each year for using it. Unless you pay the full balance, you will be charged an interest for it.
  • Check the credit agreement carefully.
  • Check how and where the rewards can be used.
  • Check your cashback facility.

Which is the best credit card in India?

Listed below are the 6 best credit cards in India.

ICICI Instant Platinum Credit card 

This credit card is different from a premium platinum credit card which was introduced by ICICI bank earlier. ICICI Instant Platinum Credit card gives more benefit to the college students, housewives and non-salaried persons for applying for credit card against a fixed deposit in ICICI saving bank account. This credit card supports customers who have problems with their credit history and CIBIL score (credit score). In other words, Customers doesn’t need a credit history to get this card.This credit card will be more useful for the customers who use a credit card for the first time.

Annual fees- null

Renewal fees-null

Key benefits

  • Customers will get 3 payback points ( payback points are the points which are earned by the customers on doing every shopping (except fuel).

           1 Payback point= 0.25 rupees ) for every Rs. 100 spent.

  • Customers can get offer up to Rs.100 for movie tickets twice a month at bookmyshow.
  • Customers can get 15% discount at leading restaurants.

Standard Chartered Platinum Reward card

Standard Chartered Platinum Reward card is the best credit card for salaried employees who earn Rs. 25000 per month. Salaried people who want to own all-rounder credit card without paying annual fees can apply for this credit card.This credit card provides many offers and rewards for the customers who apply it.

Annual fees-null

Renewal fees- Rs. 750

Key benefits

  • Customers can get 5 reward points for every Rs. 150 spent at specific restaurants.
  • Customers can get 5 reward points for every Rs. 150 spent on fuel expenses.
  • Customers can get 1500 reward points after the first five transactions.
  • Employees who work in companies/corporates can put their expenses on this credit card.
  • If the customer transacts within 60 days, can get additional 1000 reward points.
  • Customers can get 500 bonus points for registering in online banking.
  • Customers can get special offers such as Big Basket, Blue Stone, Firstcry, Puma and UrbanClap.

Citibank Cashback Credit card

Citibank Cashback Credit card is best for customers who want to own credit card for daily transactions. This Credit card helps customers in earning cash back rewards, paying online bill payments and it also supports customers in offering cashback on every transaction. The person who has got a salary account with Citibank are eligible for applying for this credit card.

Annual fees- Rs. 500

Renewal fees- Rs. 500

Key benefits

  • Customers can get 5% cashback on purchasing movie tickets.
  • Customers can get 5% cashback on telephone bill payments.
  • Customers can get 5% cashback on Utility bill payments such as electricity bills, mobile bills etc..,
  • Customers can get 0.5% cashback on all other payments which are made through this credit card.

SBI Gold Credit card

SBI Gold Credit card is the best card for customers in paying Utility bills such as electricity bills, mobile bills, telephone bills etc.., You can pay your bills easily and fastly through online payment by using this credit card. The Electronic statements regarding this credit card will be sent to the customer’s email account and the status of credit card can be known with the help of mobile alerts.

Annual fees-Rs. 299

Renewal fees-Rs. 299

Key benefits

  • Railway and airline tickets can be booked easily.
  • SBI Gold Credit card is accepted worldwide and can be used in millions of shops.
  • This card gives the facility of making payments in instalments on monthly basis.
  • Customers can withdraw an amount of 2.5% or RS. 300 per transaction.
  • Customers can pay their bills easily on a regular basis.
  • Higher flexibility for repayments.
  • Customers can get e-statements and SMS alerts on credit card transactions.
  • This credit card offers security to the user. All transactions are secured through passwords.

Standard Chartered Manhattan Platinum Credit card

Standard Chartered Manhattan Platinum Credit card is the best card which provides high-quality service to the customers with great payback offers and reward points. This card offers greater benefit to the customer in grocery shopping. Salaried persons can apply for this credit card easily and get the benefit out of it.

Annual fees- Rs. 499

Renewal fees- Rs.999

Key benefits

  • Customers can get the benefit of 5% cash back on grocery shopping from departmental stores/supermarkets.
  • Customers can get 1000 extra reward points if their transactions are made within 60 days.
  • Customers can get 500 bonus points for registering in net banking.
  • Customers can get special discount offers from Big Basket, Bluestone, Firstcry, Puma, Reliance, Spencers and Urbanclap.
  • Customers can get Rs.500 as cashback offer every month.
  • Customers can get Rs. 150 as a maximum cashback per transaction.
  • Customers can get 5x (5 times) reward points for paying hotel bills, dining, airline tickets and fuel bills

SBI Simply Click Credit card

SBI Simply Click Credit card is the best credit for the customers who love online shopping. This credit card has tied up with the popular online stores like Amazon, Foodpanda, Bookmyshow, Lenskart etc.., and it provides 10x (10 times) reward points to the customers. For other online spends, customers can receive 5x (5 times) reward points. This credit card offers great benefit to the first time users. If the customer has got a salary account in SBI, then it will be considered as an additional eligibility for applying it.

Annual fees- Rs. 499

Renewal fees- Rs. 499

Key benefits

  • Customers can get 10x (10 times) reward points if they spend in online stores like Amazon, Foodpanda, Bookmyshow, Lenskart etc..,
  • Customers can get 5x (5 times) reward points for all different spends.
  • Customers can get 1 reward point Rs. 100 on all different spends.
  • An additional charge on fuel  has been rejected, if the customer transactions are above Rs. 500
  • Customers can get Rs. 500 worth of gift voucher from Amazon.

How to choose the best credit card for yourself?

Choosing a credit card is not an easy thing because there are several numbers of credit cards which have been introduced nowadays. Customers while selecting a credit card, it is wise to think about the use of it and why you want to choose. Almost every credit card offers you some benefits and such benefits are different from each other. Based on the customer’s spending limit, spending habits and bill payments also, one can choose a credit card. Another way of choosing a credit card for yourself is comparing the best credit cards and selecting the best which suits your need.

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