Synopsis: This article talks about two of the best cashback credit cards that are available in India. It will also discuss about the benefits these two credit cards provide.
Cashback credit cards provide a part of your spending back to you in monetary form as cashback, which will usually be credited to your bank account. They offer flexible rewards, which may require you to pay your balance in full monthly to avoid the high interest rate.
1. BOB Cashback Credit Card
It is a cashback credit card, which is designed and made for frequent online shoppers. It is also known for providing cashback in different types of transactions.
- Cashback Benefits:
- 5% Cashback: Provided on select domestic online spend. It was provided in the form of 4% accelerated with 1% base cashback rate.
- 1% Cashback: On all other card spends
- Note: Accelerated cashback is capped at ₹1,500/month.
- Other Benefits:
- Provides 1% fuel surcharge waiver of up to ₹250/month for spending around ₹400 to ₹5000 at the fuel stations.
- You won’t be liable for fraud if you report it immediately.
- Purchases equal to or above ₹2,500 can be turned into EMIs of tenure between 6 and 48 months.
- You can add 3 add-on cards for your family members above 18 years old.
To apply for the card, please visit the Official Website
Also Read: Zagg vs Kredit.Pe: Which Lifetime Free UPI Credit Card Actually Wins?
2. IDFC FIRST Hello Cashback Credit Card
It is a secured cashback credit card that is issued only if you have an FD attached worth ₹10,000 or more. It is suitable for people who buy goods online frequently.
- Cashback Benefits:
- 5% Cashback: If you spend more than ₹10,000 incrementally online for a month.
- 3% Cashback: On monthly spend which costs more than ₹10,000
- 1% Cashback: When you spend offline using UPI through the IDFC First Bank App.
- Bonus 1% Cashback: On flights and hotels booked via the IDFC First Bank app.
- Note:
- Cashback is capped at ₹1,000/ month.
- Cashback is capped at ₹1,500/ month for overall spends, including bonus category.
- Other Benefits:
- 100% of the FD amount is the credit limit.
- 50% reversal of spending amounting to between ₹1,00,000 and ₹2,00,000
- 100% reversal of spending amounting to a minimum of ₹2,00,000
- 1% Fuel Surcharge waiver of up to ₹100/month if you spent amount of fuel between ₹200 and ₹5,000
- You are provided with roadside assistance worth ₹1,399, which is available 4 times/ year.
To apply for the card, please visit the Official Website
Comparison of both credit cards
Conclusion
After comparison, we can state that the Bank of Baroda’s Cashback Credit Card is better than the IDFC First Hello Cashback Credit Card. IDFC’s credit card might cover more areas of cashback, but its cashback cap is the same as that of the Bank of Baroda’s card. Not only is it cheaper to get and use BOB’s card when compared to the IDFC card, but it also ensures that if any fraudulent transactions take place, the customer is not liable to pay for them.
Written by Sagar V M
