Synopsis- A credit card has now become more than just a payment tool, it is a smart financial tool. To people in India with a monthly salary of 50,000 to 1 lakh rupees, the availability of credit cards has greatly expanded, and there is a lot more than just the basic ones that people can avail, as they have cards that offer great value in different types of spends.
The same income category will also allow entry into the world of so-called high-tier and mid-high-tier cards that promise smooth combination of cashback, reward points, travel and lifestyle extras. The trick is to secure a card that suits your expenditure patterns and maximizes on your returns. Let us discuss some of the most well-rounded credit cards that are excellent in this income group and have a combination of various features that can be availed by people with various needs.
1. HDFC Regalia Gold Credit Card
The HDFC Regalia Gold Credit Card is a best seller, known for its strong and symbolic reward structure, especially for those who spend on shopping and travel. Key Highlights:
- Reward Points: Earn 4 reward points for every ₹150 spent on most retail categories, including insurance and utilities. Get accelerated rewards (20 points per ₹150) on Myntra, Nykaa, Marks & Spencer, and Reliance Digital.
- Travel Benefits: Enjoy 12 complimentary domestic lounge visits annually. Priority Pass membership is also included.
- Milestone Benefits: Receive flight vouchers worth ₹5,000 on reaching specific spending milestones. Complimentary Swiggy One and MMT Black Gold Tier memberships add value.
- Fee Structure: Joining and annual fees are ₹2,500 + taxes, often waived on achieving annual spending targets.
- Why it’s a great fit: This card perfectly balances everyday rewards with travel benefits, ideal for those who travel occasionally and enjoy shopping.
2. SBI Card Prime
The SBI Card Prime is a strong contender, offering high reward rates on common spending categories and a good range of lifestyle benefits. Key Highlights:
- Reward Points: Earn 10 reward points for every ₹100 spent on dining, groceries, movies, and departmental stores. This high rate on essential spends can lead to significant savings.
- Welcome & Milestone Benefits: Get e-gift vouchers worth ₹3,000 as a welcome benefit. Further milestone benefits are available on reaching spending thresholds.
- Travel & Lifestyle: Offers complimentary Club Vistara membership and access to domestic and international lounges. Fuel surcharge waivers are also included.
- Fee Structure: Joining and annual fees are ₹2,999 + taxes, often reversible on annual spending.
- Why it’s a great fit: If a significant part of your spending goes towards dining, groceries, or entertainment, the SBI Card Prime offers excellent value back.
Also read: HSBC RuPay Credit Cards Launched: What Makes the Platinum & Cashback Cards Stand Out?
3. Axis Bank Select Credit Card
The Axis Bank Select Credit Card is designed for individuals seeking comprehensive benefits across shopping, travel, groceries, and entertainment, with a focus on accelerated rewards. Key Highlights:
- Reward Points: Earn 10 Axis EDGE reward points on every ₹200 spent. It’s particularly good for offline retail purchases.
- Shopping & Dining Discounts: Enjoy a 20% discount on BigBasket (monthly) and ₹200 off on Swiggy twice a month.
- Lounge Access: Includes decent lounge access benefits.
- Fee Structure: Joining and annual fees are ₹3,000 + taxes.
- Why it’s a great fit: This card is ideal for those who regularly shop for groceries online, order food, and appreciate discounts on daily spending, alongside a solid rewards structure.
4. IDFC FIRST Millennia Credit Card
For those who prefer a card with no annual fees and still want a decent set of benefits, the IDFC FIRST Millennia Credit Card stands out. It’s often promoted as a lifetime free card. Key Highlights:
- No Annual Fee: This card truly has no joining or annual fees, making it a highly cost-effective option.
- Reward Structure: Offers good reward rates, often providing higher rewards on online spends and milestone-based bonuses (up to 10X rewards on certain categories).
- Interest-Free Cash Withdrawals: A unique benefit is the interest-free cash withdrawals for a specific period (though it’s always wise to avoid cash advances due to high charges).
- Other Benefits: Includes complimentary railway lounge access, movie ticket discounts, and dining offers.
- Reasons to like it: The IDFC FIRST Millennia Credit Card is a good choice if you want to get good benefits that do not pinch your pockets with annual fees, and your shopping scale is high online.
When making a choice there are factors to consider
- Spending Habits: In case you are a traveller, seek lounge access, and airline miles. When you do online shopping, prefer cashback or fast points generated in e-commerce.
- Fees and Charges: Never choose a card without understanding the joining fees, annual fees, and how they can be waived.
- Reward Redemption: Check how easy it is to redeem your accumulated points or cashback.
Conclusion
People whose monthly earnings range within 50,000 and 1 Lakh have plenty of best all-rounder cards in the Indian credit card market. HDFC Regalia Gold and SBI Card Prime are placed as the best cards when what is required is all round rewards and lifestyle benefits. Axis Bank Select Card is good when there is a need to save regularly and IDFC FIRST Millennia is just an impressive lifetime free card with its unexpected rewards. With good planning and by examining closely your pattern of spending, and by making sure that the values that you deem to be the most important are yours, you will have a chance to choose a credit card that will ease up most of your transactions as well as greatly raise your financial paybacks and rewards.
Written by Hiten Chauhan
