Different banks in India offer different types of credit cards, which can be categorised on the basis of the benefits they offer. According to experts, customers should opt for credit cards only after comparing it with the other cards so as to maximize their benefits.
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While the best credit card choice may differ from one person to another due to different needs, there are several steps that can help in narrowing down the options. These include checking the credit score and doing a comparative cost-benefit analysis.
Here are some of the top credit cards available in the market now which can be considered, according to Paisabazaar -- an online marketplace for financial products:
| Name of Credit Card | Finance Charges (PA) | Joining/Annual/Renewal Fee (Rs) | Late Payment Penalty (Rs) | Joining Benefits | Key Benefits |
| SBI SimplyCLICK | Up to 40.20% | Annual Fee: 500Renewal Fee: 499 (Waived off on spending 1 lakh in the previous year) | Up to 950 | *Get an Amazon gift card worth Rs 500 on joining | *10X reward points on online spends with exclusive partners and 5X on all other online spends*1 reward point per Rs 100 on all other spends*E-vouchers worth Rs.2,000 on annual online spends of Rs 1 Lakh and Rs 2 Lakh.*1% fuel surcharge waiver for each transaction between Rs 500 and Rs 3,000 |
| HDFC Moneyback | 43.20% | Annual/Renewal Fee: 500 (Waived off on spending 50,000 in the previous year) | Up to 1,300 | *Welcome benefit of 500 Cash Points(applicable on membership fee payment)*Spend Rs 20,000 and above in first 90 days & get first-year membership fee waived off | *2 reward points on Rs 150 spent. 2X Reward Points on online spends*Rs 500 worth gift voucher on spending Rs 50,000 every quarter. Earn up to Rs 2,000 worth of gift vouchers in a year.*1% fuel surcharge waived off on fuel transactions(Min transaction: Rs 400 and Max cashback: Rs 250 per statement cycle) |
| Axis Neo | 49.36% | Joining Fee: 250 (Waived off on spends of 2,500 in 45 days)Annual Fee: 250 | Up to 1,200 | *Amazon gift voucher worth Rs 250 on 1st spend within 30 days of card issuance | *Minimum 15% off on dining at partnered restaurants*10% off on Akbar Travels - Flat Rs 500 off on a minimum flightbookings of Rs 5,000*10% off at Myntra on minimum purchase of Rs 500*10% cashback on mobile recharges via Freecharge mobile app with a monthly benefit up to Rs 30*Earn 2 EDGE REWARD points on every Rs 200 spent |
| ICICI Bank Platinum Chip | 40.80% | Joining Fee: NILAnnual Fee (2nd year onwards): NIL | Up to 750 | NA | *Minimum 15% savings on dining at over 2,500 restaurants*2 PAYBACK points on every Rs 100 spent for all retail purchases except fuel*1 PAYBACK point on every Rs 100 spent on utilities & insurance categories*1% fuel surcharge waiver on fuel transactions of maximum Rs 4,000 at HPCL pumps |
| Citi Rewards | Up to 43.20% | Annual Fee: 1,000 (Waived off on spending 30,000 in the previous year) | Up to 950 | *1,500 bonus points on your 1st spend made within 30 days of card issuance and another 1,000 bonus points on your first spend of Rs 1,000 made within 60 days of card issuance | *1 reward point for every Rs 125 spent on all purchases*10X reward points on purchases at apparel and departmentalstores and other partner stores*300 bonus points on card purchase of 30,000 or more in a month |
| SBI Card Elite | 40.20% | Annual Fee: 4,999Renewal Fee: 4,999 (Annual/renewal fee reversed on spending 10 lakh in the previous year) | Up to 950 | *Welcome e-gift voucher worth Rs. 5,000 | *Free movie tickets worth Rs 6,000 every year*Earn up to 50,000 bonus reward points worth Rs 12,500 per year*5X reward points on dining, departmental stores & grocery spends*2 reward points per Rs 100 on all spends except fuel*Complimentary priority pass program membership and 6 complimentary airport lounge visits per calendar year outside India*2 complimentary domestic airport lounge visits per quarter in India*Complimentary club Vistara silver membership and trident privilege red tier membership*Lower foreign currency mark up charge of 1.99% on international usage*2 reward points on every 100 spent on international transactions |
| HDFC Infinia | 23.88% | First-Year Membership Fee: 10,000Renewal Fee: 10,000 (Waived off on spending 8 lakh and above in preceding 12 months) | Up to 1,300 | *Complimentary one-year Club Marriottmembership | *Up to 10 times reward points on travel and shopping spends on Smartbuy*2 times reward points on your dining spend at stand-alone restaurants*1% fuel surcharge waiver at all fuel stations across India*Lower markup fee of 2% on all foreign currency transactions.*Unlimited airport lounge access, golf games, and 24*7 priority global personal concierge service.*Accidental Air Death cover worth Rs. 3 Crore*Emergency overseas hospitalization up to Rs. 50 lakhs in case of emergency*Credit shield cover for up to 9 lakhs |
| Axis Bank Reserve | 34.49% | Joining Fee: 50,000Annual Fee: 50,000 (Waived off on spending 25 lakh in the preceding year) | Up to 1,200 | *50,000 reward points on card activation | *15 edge reward points for every Rs 200 spent*2X rewards on international spends*Reduced markup of 1.5% on international transactions*No cash withdrawal charges*Fuel surcharge waiver of 1% for transactions between Rs 400 and Rs 4,000 (Capped at Rs 400 per month)*Exclusive savings on healthcare packages and pathology tests at Dr. Lal Pathlabs, Metropolis, and SRL Diagnostics*50,000 reward points on card renewal*50 complimentary golf rounds every year across best golf courses in India*4 complimentary chauffeured luxury airport pick-ups/drops every year*Unlimited complimentary domestic and international lounge visits for both primary and add-on cardholders. 12 complimentary guest visits in a year for accompanying guests. |
| ICICI Bank Emeralde | 40.80% | Monthly Fee: 1,000(Monthly fee reversed on spending Rs 1 lakh or more in the previous month)Joining Fee: 12,000Annual Fee: 12,000(Annual fee reversed on spending Rs 15 lakh or more in the previous year) | Nil | NA | *Unlimited complimentary domestic airport spa access via complimentary Dreamfolk DragonPass membership*Unlimited complimentary access to international airport lounges*Nominal mark up fee of 1.5% on international transactions*Refund of up to Rs 12,000 for a maximum of 2 transactions every year on any flight/hotel/movie booking cancellation*Complimentary round/lesson of golf on every ₹50,000 or more spent on the card in the previous calendar month, up to a maximum of 4 rounds/ lessons of golf every month |
| Standard Chartered Ultimate | 37.20% | Joining Fee: 5,000Renewal Fee: 5,000 | Up to 800 | *Up to Rs 10,000 cashback on the first transaction for flight & hotel booking on MakeMyTrip within 90 days of card issuance | *2% foreign currency markup fee on overseas spend*5% cashback of up to Rs 1,000 on duty-free spends*Access to 20 premier golf courses in India and 150 worldwide*Up to 25% discount at top 750 restaurants in India with advance reservation via concierge & online booking*5 reward points on every Rs 150 spent (1 reward point equals to Re 1) |
(Source: Paisabazaar)
Disclaimer: CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
(Edited by : Jomy)
First Published:Oct 8, 2020 3:31 PM IST
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