Sunday, October 2

Various Types of Credit Cards Available in India

Many credit card firms in India provide appealing incentives such as reward programmes, cash rebates, gasoline savings, insurance advantages, and travel bonuses. Visa, Mastercard, and American Express are three of India’s top credit card providers, each with its own set of benefits. To apply for a credit card, you must meet certain eligibility requirements. Different banks may have their own set of requirements, but in general, all of India’s main banks have a set of qualifying standards. There are primarily three types of credit cards accessible in the Indian market presently. However, in order to receive a credit card in India, you must have a good CIBIL score.

Types of Credit Cards

Here is a list of a few credit cards that are now available on the market and are divided into three primary categories. Entry level credit cards, E-commerce credit cards, and Premium level credit cards are the three types. The following are the credit cards:

IDFC First Credit Cards

IDFC First Bank has just begun providing credit cards that are interest-free for life. If you spend more than INR 20,000 online each month, the IDFC First Credit Card might be the perfect first credit card for you. The interest rates range from 9% to 36%, making it the most cost-effective credit card when compared to others. It even offers free ATM withdrawals till the payment is due. You must have an annual income of INR 3 lakh – INR 12 lakh or a credit limit of INR 1.5 lakh to be eligible for this card.

SimplyClick Credit Card By SBI

This credit card is offered by SBI for a membership fee of INR499+GST, making it a great alternative for your first credit card. SBI offers 10X reward points on specific online purchases with partners such as Bookmyshow, Amazon, Zoomcar, Lenskart, Foodpanda, Cleartrip, and others, as well as 5X reward points on all other online transactions. As a welcome bonus, this card comes with an Amazon Gift Card worth INR500, which is enough to cover the membership fee.

ICICI Credit Card AmazonPay

If you make online purchases, particularly on Amazon, the AmazonPay ICICI Credit Card is great for you. If you already have an Amazon Prime membership, you may be eligible for a 5% reward with this card. However, if you do not currently have an Amazon Prime membership, you will only be eligible for a 3% cashback on Amazon. You might save up to 15% on your eating expenditures at over 2500 eateries across India. This card is offered by ICICI Bank with no joining or annual fees. If you already have an account with ICICI Bank, you may receive a credit card quickly and have your products delivered quickly.

HDFC Regalia Credit Card

The membership fee for the HDFC credit card is INR2500+GST, which is usually waived for the first year. This card has been around for quite some time and provides some wonderful rewards. On global travel, the HDFC Merchant offers free miles as well as low foreign currency markup charges. It acts as a springboard for HDFC super premium cards.

Axis Bank Select Credit Card

The yearly fee for the Axis Select Credit Card is INR3000+GST (which is free for Axis Burgundy customers). Axis Select offers fantastic incentives, as well as airport lounge and golf advantages. It’s a fantastic leisure credit card for Axis bank customers. This card allows you to a 40% discount on Swiggy orders, saving you around Rs.4000 every year. 

Although the best credit cards in India are listed above, the card that best suits your buying patterns would be the perfect match and therefore the best suited credit card for you. As a result, it is prudent to evaluate your purchasing patterns and tendencies while picking or applying for a credit card.

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