Credit cards have become an indispensable part of our lives. With expenses on the rise and amazing cashback offers provided by every bank, people are using credit cards more now than ever.

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According to data from the National Payments Corporation of India (NPCI), the number of outstanding credit cards went up 24.87 percent at 4.42 crore in December 2018, compared to 3.54 crore last year, Business Line reported.

While the usage of the credit cards began in the mid-1980s, the market saw a surge in the early 1990s. The total number of cards issued by 42 banks and outstanding increased from 2.69 crore as of December-end 2003 to 4.33 crore as of December-end 2004, the report said.

According to Aditya Kumar, founder, and CEO of Qbera.com, here are the credit cards one can opt for:

Credit Cards for Students

According to Kumar, it is advisable for students to pick a credit card that doesn't carry an annual fee. Alternatively, parents as primary cardholders can subscribe to secondary credit cards that can pass off as student credit cards.

For Millennials

For millennials, recreation forms a major part of their life so going in for a card that offers reward points or cash back in restaurants, travel and entertainment expenses is a good idea. There are many banks that offer credit cards specifically for millennials.

Low-Income Salaried People

If you are a low-income salaried person, it is best to choose a card that does not attract an annual fee and one that comes with a comparatively lesser rate of interest. Usually, with these cards, reward points are offered on select purchases such as grocery and fuel.

Salaried People

Well, as a salaried individual, there are several credit cards out there that you can choose from. Depending on where you think you would spend the most, choose an appropriate card that offers cash back or rewards points on those products/services.

Women

There are many popular cards designed specifically to satisfy the lifestyle choices of women. Credit cards for women often come with a cash back or rewards on shopping at popular ecommerce and retail stores, entertainment, food and travel. Do your research and pick a card that ideally meets these requirements and rewards your expenditure.

Economically Weaker Sections

All banks offering credit cards require individuals to meet a minimum income level. For economically weaker sections, there are certain banks that offer secured credit against a fixed deposit account.

Small Business Holder

Some banks offer credit cards to small business holders with a reasonable credit limit. These credit cards also come with interest-free periods and low annual charges. Usually, credit cards for small business holders don't come with impressive rewards. Cashback can hold applicable on select transactions though.

Retired People

Banks offer credit cards to retired people against a secured account such as a Fixed Deposit account or a Recurring Deposit account. The credit limit is usually in line with the quantum of investments and assets currently running with the respective bank.