10 Best Credit Cards in India [With Exceptional Benefits]

by | October 7, 2019 2:20 pm | Credit Cards

10 Best Credit Cards in India With Exceptional Benefits cover tradebrains

10 Best Credit Cards in India in 2019 with exceptional benefits (Updated: October 2019)

Credit cards are everywhere. These days, they are used in almost all underlying operations like purchasing items from the store or even for your online sale as well. A credit card helps to shape you a good lifestyle, and since there is a fixed amount for which you have to take in the credit for, you can even stop yourself from the overspending habits that you have. They are the growing aspects of the economic market, and as we are towards the source of digital transactions, credit cards are becoming more and more efficient these days.

Moreover, Credit cards are instantly safe for you to use for any source of electronic payments since they are backed up by full security. As a matter of fact, credit cards are comparatively safer than debit cards.

However, since each and every bank is offering new credit cards with amazing rewards, which one to choose? In this article, we are going to discuss the ten best credit cards in India so that you can choose the one that suits you the best.

Why Credit Cards?

Credit cards are very similar to a debit card issued by a bank or a financial institution. However, credit cards let the cardholder borrow money from the financial institution to pay for goods and services. It imposes the condition that the cardholder must pay back the borrowed money after a certain period of time along with some interest as well as any additional charges if agreed.

The company issuing the credit card may also put up a line of credit (LOC) to enable the cardholders to withdraw money in the form of cash. The institution customarily presets the borrowing limits of the customer based on his individual rating. The borrowing limit can be set monthly, quarterly or annually, according to the profile and needs of the customer.

This mode of payment is one of today’s popular payment method for buying goods and services because of the following reasons:

  1. Purchasing Power: Credit Cards empower the holder to purchase locally as well as overseas also. They also let you purchase through phone, online and at stores, of course. Most of the credit cards, especially MasterCard and Visa, are accepted virtually anywhere.
  2. Shop now, pay later: Credit Cards make it very easy to buy on credit. For example, if you’re spending money on regular monthly expenses, it’s usually not a good idea to use your bank balance. Instead, you can buy through credit card and return the money to the bank by the end of the month. This way you have used the leverage instead of using your own money. Besides, credit cards are the best tool to help us track our expenses and hence it can help you in budgeting.
  3. Rewards: Mostly, all the banks and financial institutions who give credit cards offer various rewards and cashback on our day-to-day purchases. For example, if we book a movie ticket, there are numerous offers available from different companies. Some also offer benefits like ‘Buy 1 Get 1 ticket’, which results in the benefit of the customer only.

In addition, Credit cards can also act as emergency protection. In case of a medical emergency or unexpected event, one should maintain an emergency fund which must be equal to his/her six to twelve months of salary to keep him/her. A credit card can help you to fight with the unforeseen expenses.

Also read:The Pros and Cons of Credit Cards in India

10 Best Credit cards in India to choose:

Finding a sound credit card in India can be a tough job for you because you have to go through a lot of things. First of all, you have to take care of the facilities that you are getting from your card and even the bank through which it is being provided to you. Some of the credit cards are immensely useful for your shopping habits, and they come with excellent features, as well.

So here are ten of the best credit cards in India, which you need to check out right now.

1. American Express Membership Reward Credit Card

American express membership rewards card

Coming to the list of the top used credit cards in the Indian market, the MRCC is the top-rated one. It helps you to get reward points on your spending so that you can redeem it on your next purchase or issue. The annual fee for this card is Rs 1,000 plus GST. The renewal fee for this card is Rs 4,500 plus GST.

Current Offer (Till 31st December 2019)

  1. First-year fee: 0
  2. 2nd year Fee:1,500 INR* + applicable taxes

Eligibility Conditions:

  1. The applicant should be over 18 years of age.
  2. The applicant’s annual income should be of Rs. 6 Lakhs and above (in the case of Self Employed or Salaried).
  3. Good credit history and no payment defaults.

Benefits:

  1. You can get 4,000 points as a bonus on the first membership for this card.
  2. Earn up to 1,000 points as the membership reward points every month with this card.
  3. On payment of the annual fees by this card, you can get around 5000 bonus points.
  4. Redeem your reward, and you can get 18 karats and 24 karat gold collection from the program of the annex.
  5. Other benefits like zero lost card liability and others come as well.
  6. The Annual Membership Renewal fee of Rs.4500 will be 100% waived off if the total spends on American Express Credit Card in the immediately preceding membership year is Rs.1,50,000 and above.

Here’s a quick link to apply for the American Express Membership Credit Card!

2. Citi Premier Miles Credit Card

Citi Premier Miles Credit Card

If you want to save some money with the help of your credit card system in exchange for the other facilities like flights, international hotel/airline loyalty programs, then this is the one for you. The annual fees for this card are 3000, and the renewal fees are also the same.

  1. A welcome reward of 10,000 PremierMiles on the first transaction of at least Rs 1,000 with first 60 days.
  2. Spend around 1000 with this card, and you will get 60 days of insurance and 10000 bonus miles.
  3. Get an additional 3000 miles on your card anniversary every year.
  4. Earn up to 4 miles for every Rs 100 that you spend.
  5. Earn 10 miles for every Rs 100 on the transaction that you do with the airline world.

You can redeem your miles for flight tickets across 100s of airlines or attractive vouchers and merchandise from premium luxury and electronic brands on Citibank online catalog.

You can read more about the benefits and apply for the Citi Premier Miles Credit Card here.

3. HSBC Visa Platinum Credit Card

HSBC Platinum Credit Card

HSBC is a trusted source for online credit cards that has served over a million people from all around the world offering amazing discounts on movies, flights, restaurants and more. There is a zero annual fee for this credit card, which you can have for yourself. The renewal fee is also nil for this card.

Eligibility Conditions:

  1. The applicant should be aged between 18 to 65.
  2. The applicant’s annual income should be Rs. 4 Lakhs and above (in the case of Self Employed or Salaried).
  3. Current City of residence should be Bangalore, Chennai, Gurgaon, Hyderabad, Mumbai, New Delhi, Noida, or Pune
  4. Good credit history and no payment defaults.

Benefits:

  1. Nil joining and annual fees.
  2. On making the first transaction with this card, you will get a Rs 2,000 voucher from the clear trip and Rs 250 Swiggy voucher.
  3. Within 90 days of the card issuance, you will get 10% cashback up to Rs 2,000.
  4. Earn 3x reward points on the hotel telecom and another service that you want to use before the expiry.
  5. Get five times accelerated points towards the rewards if you make a purchase, and the total spending limit is above Rs four lakhs in an anniversary year.
  6. Get a movie ticket voucher worth Rs 500 on spending over Rs 50,000 in a calendar month.
  7. Air Miles Conversion on JetPrivilege and Singapore Airlines for booking flight tickets.

You can read more about the benefits and apply for the HSBC Visa Platinum Credit Card here.

4. Standard Chartered Manhattan Credit Card

Standard Chartered Manhattan Credit Card

The name might sound fancy to you, but this credit card comes with a lot of facilities for you to use anytime that you want. The joining fees for this card are Rs 999, which is the same as the renewal fees, as well.

Eligibility Conditions:

  1. The applicant’s age should be between 21 and 65.
  2. The applicant should have a stable monthly income.
  3. The applicant should belong to credit cards sourcing cities/locations of the Bank.

Benefits:

  1. When you make your first transaction with this card, you will get a voucher for 2000 from a book my show.
  2. Get 3x reward points for all the expenses that you have per Rs 150 spent.
  3. Get 5% cashback when you use this credit card at the supermarket. Enjoy multiple offers for this card that you want, like discounts on the traveling, dining, and other categories.
  4. Under the excellent life program, you can avail of offers as a discount on several purchases on Spicejet, Goibibo, Croma and other partners.
  5. The renewal fee of Rs 999 is waived on spending Rs 1,20,000 or more in the Year.

Here’s a quick link to apply for the Standard Chartered Manhattan Credit Card!

5. HDFC Regalia First Credit Card

HDFC Regalia First Credit Card

For all the HDFC bank users from all around, this credit card is handy and comes with multi-features for you. The annual and renewal fees for this card is Rs 999.

Eligibility Conditions:

  1. For Salaried: Age: Min 21 yrs & Max 60 Yrs, Income: Gross Monthly Income> Rs 40,000
  2. For Self-employed: Age: Min 21 yrs & Max 65 Yrs, Income: ITR > Rs 5 Lakhs per annum

Benefits:

  1. You can get complimentary priority pass membership on all the airport lounges.
  2. Earn up to 4 Rewards points on every 150 rs that you spend on your card.
  3. 1% fuel surcharge waived off on fuel transactions.
  4. On selected restaurants, you can get around a discount of about 40%.
  5. Users will get 7,500 bonus points every year on spends of Rs.6 Lac or more in each anniversary year.
  6. Convert your reward points, and then you can use it for the coverage of the air miles on your card.

You can read more about the benefits and apply for the HDFC Regalia First Credit Card here.

6. ICICI Bank Platinum Credit Card

ICICI Bank Platinum Credit Card

This ICICI bank platinum chip credit card is the one for you to use anytime you need it for. There are so many added discounts and offers you can get from here. There joining fee is Rs 199 and the annual renewal fee is Rs 99, which can be waived if you spend ₹ 50,000 or more annually on your Card.

Eligibility Conditions:

  1. The applicant’s age should 23 or above years of age.
  2. The applicant should have a stable monthly income.

Benefits:

  1. Make contactless payments by just waving at the card in front of the NFC terminal.
  2. Earn up to 1 Payback for every point on the purchase of 100 rupees that you make.
  3. Get two paybacks for every 100 rs that you spend on fuel.
  4. You can even avail of the 1% fuel surcharge waiver at the HPCL pumps.
  5. There are selected restaurants where you can opt for a 15% discount on your card.
  6. Redeem the reward points, and you can get the gift vouchers as you want.
  7. Lenskart – existing offer of Rs 500 off on purchase of Rs 3000 or more valid till December 31, 2019

Here’s a quick link to apply for the ICICI Bank Platinum Credit Card!

7. SimplyClick SBI Credit Card

SimplyClick SBI Credit Card

When it comes to the banking institution, then SBI is one of the chosen ones from the whole lot. The annual fees for this card are around 499 and the renewal fees are the same as well.

  1. Get Amazon.in gift card worth Rs.500 on joining as your reward gift.
  2. You can earn one reward for every 100 that you spent on it.
  3. Cardholders can earn e-voucher worth Rs.2,000 on annual online spends of Rs.1 Lakh
  4. Get 5x rewards on all the online spends.
  5. Get 10x reward for the online spend, which is partnered by SBI – – Amazon / BookMyShow / Cleartrip / Lenskart / Netmeds / Rentomojo / UrbanClap
  6. 1% fuel surcharge waiver for each transaction between Rs 500 & Rs 3000
  7. Spend 1 lakh in a year, and you can get your annual fee of Rs 499 reversed.

You can read more about the benefits and apply for the SimplyClick SBI Credit Card here.

8. American Express Platinum Travelcard

American Express Platinum Travelcard

If you are a travel enthusiast, with the help of this card, you can do a lot of things for yourself. For example, you can get through the make my trip offers and much more. The annual fees of this card are Rs 3,500, and the renewal fees are Rs 5,000, second year onwards.

Eligibility Conditions:

  1. The applicant should be over 18 years of age.
  2. The applicant’s annual income should be of Rs. 6 Lakhs and above (in the case of Self Employed or Salaried).
  3. Good credit history and no payment defaults.

Benefits:

  1. Get a welcome gift of about 5000 bonus from the use of the first transaction that you make with this card.
  2. Earn 1 membership reward point for the Rs 50 that you have made for the utility, bill payments, etc.
  3. On spending about Rs 1.9 lakhs with the use of this card, you will get a travel voucher worth Rs 7700.
  4. Further, on spending about Rs 4 lakhs with the use of this card, you will get an additional travel voucher worth Rs 11,800.
  5. Cardholders can also enjoy 4 complimentary visits per year to airport lounges across India.
  6. There are exclusive offers to making my trip here like the Taj Experiences E-Gift Card worth Rs. 10,000 from the Taj Hotels Palaces Resorts Safaris.

Here’s a quick link to apply for the American Express Platinum Travelcard!

9. Indian Oil Citi Bank Credit Card

Indian Oil Citi Bank Credit Card

If you are concerned with the rising price of the oil and fuel, then you need to go for this card. The annual fees and the renewal fees are Rs 1,000 for this card. This annual fee on the card is waived when you spend Rs.30,000 or more on your Card in a membership year.

  1. Get up to 71 lit of free fuel every year in the form of the fuel surge.
  2. Full waiver of the fuel surcharge (1%) on fuel purchases
  3. Earn four turbo points on every Rs 150 spent with your card (1 Turbo Point equals Rs.1 worth of fuel).
  4. Get two turbo points on every Rs 150 spent on your card on the grocery, and other supermarket pays too.
  5. The accumulated turbo points that you have will never expire.
  6. Cardholders will also get up to 15% savings across participating restaurants with your Citi credit card.

You can read more about the benefits and apply for the Indian Oil Citi Bank Credit Card here.

10. SBI Elite Credit Card

SBI Card Elite

This credit card is specially meant for those who believe in spending and saving at the same time. The annual and renewal fees of this card are Rs 4,900.

  1. Get a welcome e-voucher of about 5000 for an array of brands like Yatra, Batra, Hush Puppies, Pantaloons, Shoppers Stop.
  2. Get free movie tickets worth Rs 6000 in a year.
  3. On spending four lakhs in a year, you will get a bonus reward point of 10,000.
  4. Earn 5X Reward Points on Dining, Departmental Stores, and Grocery Spends
  5. Get 2 Reward Points per Rs. 100 on all other spends, except fuel
  6. Enjoy 2 complimentary Domestic Airport Lounge visits every quarter in India
  7. 6 complimentary Airport Lounge visits per year, outside India
  8. SBI Card ELITE also offers the privilege of the lowest Foreign Currency Mark-up Charge of 1.99% on International usage.
  9. Accelerate your reward earning when you get it with the use of the card on the grocery shopping and the other items.

You can read more about the benefits and apply for the SBI Elite Credit Card here.

Closing Thoughts:

These are the best credit cards in India that you can pick. If you do not have a credit card yet and you’re applying for the first time, Standard Chartered Manhattan Credit Card or ICICI Bank Platinum Credit Card can be a good choice for you.

Anyways, you do not need to have just one credit card. You can apply for multiple cards if you have got a strategy to get the maximum value out of them. Choose your credit cards accordingly and find out the ones which fit you the most, depending on your lifestyle and preference.

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