Top 10 Credit Cards in India for 2020

Top 10 Credit Cards in India for 2020

Top 10 Bestselling Credit Cards in India 2020

Card Name Best Suitable For Joining fee Annual Fee
Citi CashBack Credit Card

Movies,ShoppingApply Now

Nil Rs. 500 + Taxes
Standard Chartered Manhattan Platinum Credit Card Shopping, Dining out Rs. 999 Rs. 999
ICICI Instant Platinum Credit Card Dining Out, Movies Nil Nil
IndianOil Citibank Platinum Credit Card

FuelApply Now

Nil Rs. 1,000 (Spend 30,000 or above and get fee waiver)
HSBC Visa Platinum Credit  Card

Travel, Dining Out, MoviesApply Now

Nil Nil
SimplyCLICK SBI Card

Movies, Online ShoppingApply Now

Rs. 499 Rs. 499
AXIS Bank Neo Credit Card

Shopping, Dining, MoviesApply Now

Rs. 250 (Waived off on spending Rs. 2,500 in 45 days) Rs. 250
HDFC Bank Diners Club Rewardz Card

Shopping, Dining, TravelApply Now

Rs. 1,000 Rs. 1,000 (Renewal fee is waived off on spending Rs. 1 Lakh in the previous year)
IndusInd Bank Platinum Credit Card Shopping, Travel, Movies Rs. 3,000 Nil
SBI Card Elite

Travel, MovieApply Now

Rs. 4,999 Rs. 4,999

Owning the Best Credit Card in India has become a way of life over the last 2 decades, especially in the Metro cities. With fast pacing E-commerce Industry, the use of credit cards has been truly phenomenal. After all, owning a credit card empower you to lead the lifestyle you desire. You get the flexibility to buy now and pay later.

Over the years, Credit Card companies have also come up with some amazing benefits for cardholders, hence making it more accessible for people to use credit cards. When choosing a credit card, you should know about the Top Credit Cards, the ones offering the maximum benefits.

10  Best Credit Cards from Top Banks: Features & Benefits

Citibank Cash Back Credit Card

CitiBank Cashback Credit Card

This Citibank Card is called the Cash Back Card as it provides a lot of cashback offers on purchases made. You get a flat 5% cashback on buying movie tickets or if you use it to pay your utility bills like electricity bill or mobile bills. Moreover, you also get 0.5% cash back on other purchases made from this card; which means that every time you spend from this Credit Card, you surely get a cashback. Additionally, you can convert your purchases above Rs. 2000 into equal monthly installments (EMIs). The annual fee is only Rs. 500 + Taxes.

  • Joining Fee: Nil
  • Annual Fee: Rs. 500 + Taxes 

Features of Citibank Cash Back Credit Card

  • 5% cashback on booking movie tickets, telephone and utility bill payments
  • 0.5% cashback on all other spends
  • 1% waiver on fuel surcharge at Indian Oil outlets only
  • Save up to 15% on dining spends at participating restaurants
  • Cashback is automatically credited to the monthly statement in multiples of Rs. 500.

Why should you use this card?

  • You get cashback on all your spends
  • Auto redemption after 500 reward points.
  • Extra savings worth Rs. 3300 for new card holders.

Standard Chartered Manhattan Platinum Credit Card

Standard Chartered Manhattan Platinum Credit Card

This is one of the best and most sought after Credit Cards in India for shopping, dining out, cashback and reward points. This credit card gives 5% cashback on grocery purchase; If you buy grocery from any departmental store like Big Bazaar, Reliance Fresh, More, you get a flat 5% cashback on your bill amount. Now that’s a huge saving as we certainly use our Credit Card a lot when we shop at these stores. It comes for only Rs. 999 annual fee in the first year and Rs. 999 is the renewal fee from a subsequent year onwards. What’s more! You also get 3x reward points on all other expenses. Hence it’s a double bonanza card which gives cashback as well as hefty reward points in your kitty.

  • Joining fee: Rs. 999
  • Annual fee: Rs. 999

Benefits of Standard Chartered Manhattan Platinum Credit Card

  • Get Rs. 2,000 worth BookMyShow vouchers on first transaction in first 90 days using the card. 
  • Get 5% cashback on spending at supermarkets
  • Get 3x reward points on all other expenses

Why should you use this card?

  • 3 times reward points on your spending
  • 5% cash back on shopping at supermarkets..
  • Discounts and offers across dining, shopping, travel with standard charted Good Life Programme.

ICICI Instant Platinum Credit Card

ICICI Instant Platinum Credit Card:

If you are a self-employed individual, or a homemaker or student or someone who has a bad credit history due to a past financial crisis and want to have a credit card; this is the most appropriate card for you. ICICI Bank offers ICICI Instant Platinum Credit Card to people who hold Fixed Deposits with them without any financial documents.

This Credit Card offers you a discount of Rs 100 on movie tickets (on minimum 2 tickets up to 2 times in a month) . This credit card comes with Zero Annual Fees.

Features of ICICI Instant Platinum Credit Card

  • Joining fee: Nil
  • Annual fee: Nil
  • Get 2 PAYBACK points on spending every Rs. 100
  • Get 1 PAYBACK point on spending every Rs. 100 on utilities and insurance
  • Points can be redeemed against a variety of gifts
  • Global Emergency Assistance & Card Replacement service available

Why should you use this card?

  • Zero joining and annual fees.
  • ICICI Instant Platinum Credit Card offers lucrative benefits to the customers who hold fixed deposits with them.
  • Get an assured credit card at Zero Annual Fee if you have a Fixed Deposit with the bank. No income documents are required.
  • Earn payback points on making expenditures on utility and insurance.
  • 15% flat discount at approximately 800 prominent restaurants in India.

IndianOil Citibank Platinum Credit Card

Indian Oil Citi Platinum Card

This card offers maximum benefits on fuel surcharge and purchase in India. With this card, you earn 4 Turbo points on the spending of every Rs. 150 for fuel purchase at any Indian Oil outlet across the country. You can redeem these turbo points against free fuel or can also use these points for buying gifts and gift vouchers. You also get your fuel surcharge waived off at Indian Oil outlets. Apart from fuel purchase, you also get turbo points on other spends as well. You earn 2 Turbo points at all grocery stores and supermarkets & 1 Turbo point for all other transactions like shopping and dining on every Rs. 150 spent. You stand a chance to get your annual fee (of Rs. 1,000) waived off if you spend Rs. 30,000 in a year.

  • Joining fee: Nil
  • Annual fee: Nil if you spend Rs. 30,000 or above in a membership year on your card. For annual spends of below Rs. 30,000, annual fee of Rs. 1,000 will be charged.

Key Features of IndianOil Citi Platinum Credit Card

  • Earn 4 Turbo points on spending every Rs. 150 for fuel purchase
  • Full fuel surcharge waiver of 2.5%
  • 1 Turbo point = Re 1 worth of fuel
  • 2 Turbo points on spending every Rs. 150 at grocery and supermarkets
  • 1 Turbo point on spending every Rs. 150 on shopping, dining, etc.
  • 200 bonus Turbo points for every additional card

Why should you use this card?

  • 71 litres of free fuel every year.
  • Redeem turbo points against free fuel and mobilise those points for gift vouchers.
  • Redeem Turbo points instantly for purchasing fuel at select IndianOil outlets
  • Earn turbo points on each spend at all grocery stores and supermarkets.
  • Annual fee waiver on spending Rs. 30,000 in a year.
  • Zero joining fee and annual fee

HSBC Visa Platinum Card

HSBC Visa Platinum Card

This HSBC Credit Card offers a variety of benefits to its cardholders from reward points to cashback and additional discounts. This card gives you 10% cashback (up to Rs. 2,000) on all transactions in the first 3 months if you have at least 5 transactions more than Rs. 10,000 each. As far as the reward points are concerned, you earn 2 points on spending every Rs. 150. You get up to 15% off on dining at partner restaurants. You also earn fuel surcharge waiver (Rs. 250 each month) on filling fuel from this card.

  • Joining fee: Nil
  • Annual fee: Nil

Key Highlight of HSBC Visa Platinum Card

  • Get Amazon voucher worth Rs. 500 (on a single transaction of Rs. 500 or above within 30 days of the card issuance).
  • Get 10% cashback (of up to Rs. 2,000) on minimum 5 transactions totalling Rs. 10,000 or above, in the first 90 days of issuing the card.
  • Get BookMyShow voucher of Rs. 500 (up to Rs. 3,000 in a year) on spending above Rs. 50,000 in a calendar month.
  • Earn 2 Reward points on spending every Rs. 150
  • Earn 5X Rewards on all your subsequent purchases done after spending above Rs. 4,00,000 in an anniversary year (maximum 15,000 reward points).
  • Get up to 15% off on dining at over partner 1,000 restaurants across major Indian cities

Why should you use this card?

  • No joining or annual fee
  • Introductory benefits of up to Rs. 4,250.
  • Convert air miles to book your favorite airlines tickets.
  •  The more reward points you earn will help you save more on your next purchase.
  • Fuel surcharge waiver of up to Rs. 250 in a month on filling up fuel in your vehicle (on transaction between Rs. 400 to Rs. 4,000).
  • Emergency card replacement
  • Insurance benefits

SimplyCLICK SBI Card

Simply Click SBI Credit Card

This card is a blessing in disguise for online shoppers as it offers tremendous benefits to people who shop online. This is a one-of-its-kind credit card that gives you 10 times more reward points if you shop through any of their online e-commerce partners like Amazon, BookMyShow, UrbanClap and Cleartrip. Not only this but on the other online purchases also, you get 5 times the reward points. Moreover, there is a 1% fuel surcharge waiver too. The annual fee for this card is Rs. 499 which is reversed to your credit card account if you spend more than Rs. 1 Lakh per annum using this card.

Features of SimplyCLICK SBI Card

  • Joining fee: Rs. 499
  • Annual fee: Rs. 499. Annual fee is reversed if you spend Rs. 1,00,000 in the subsequent year.
  • Get gift card of Amazon.in worth Rs. 500 on joining
  • Earn 10X Reward Points on spending online with exclusive partners
  • Earn 5X reward points on all other spends online
  • Get e-voucher worth Rs. 2,000 on spending Rs.1 Lakh annually online
  • Get e-voucher worth Rs. 2,000 on spending Rs. 2 Lakhs annually online
  • Get 1% fuel surcharge waiver on every transaction of Rs. 500 to Rs. 3,000

Why should you use this card?

Simply CLICK SBI Card offers a plethora of benefits when you shop online, this card is best for online shoppers.

  • Annual fee reversal on spending beyond Rs.1 Lakh per annum using this card
  • The card is enabled with the contactless technology
  • Worldwide acceptance
  • Easy Bill Pay facility for instant utility bill payments
  • Balance Transfer on EMI facility
  • Convert purchases worth Rs. 2,500 or above into EMIs with Flexipay

AXIS Bank Neo Credit Card

AXIS Bank Neo Credit Card

It is a great card for movie buffs and shopaholics. This Axis Bank Credit Card offers excellent shopping, dining and entertainment benefits. This card provides 10% cashback if you use it for booking movie tickets, for any online shopping or even for mobile recharges. You also get additional benefits from some of the top e-commerce sites. For example, Amazon gives you complimentary vouchers of Rs. 250 and Myntra gives an additional 10% discount on every transaction more than Rs. 500. Moreover, Axis Neo card also gives you an option to convert your purchases into EMIs.

Features of Neo Credit Card from Axis Bank

  • Joining fee: Rs. 250. Joining fee is waived on spending Rs. 2,500 in 45 days
  • Annual fee: Rs. 250
  • Get Amazon voucher of Rs. 250 on first spend within 30 days
  • 10% off on Akbar Travels, Myntra, BookMyShow, and Freecharge
  • Get vouchers worth Rs. 250, Rs.300, and Rs. 500 from Amazon, BookMyShow, and Myntra.
  • Convert purchases to EMIs on transactions of Rs. 2,500 or more
  • Get minimum 15% off on spending on dining at partner restaurants

Why should you use this card?

AXIS Bank Neo Credit Card offers a couple of shopping, dining and entertainment benefits.

  • Discounted movie tickets.
  • Zero Lost CardLiability.
  • Convert your purchases into EMIs that gives you the flexibility to repay.
  • The card is Chip and PIN protected with EVM certified chip
  • Get EDGE Reward Points on transactions
  • Earn 2 points on spending every Rs. 200

HDFC Bank Diners Club Rewardz Card

HDFC Bank Dinners Club Card

This Credit Card by HDFC Bank is one of the finest cards of India offering some great benefits for shopping, travel, and entertainment transactions. With this card, you get 10x the reward points on international spends. You can redeem those rewards points to book air tickets or hotels. Being one of the premium cards, you get access to various Airport Lounges access in India as well as abroad. On all other spends, you get 3 reward points for every Rs. 150 spent.

Joining and renewal membership fee: Rs. 1,000 + applicable taxes (Renewal fee is waived off on spending Rs. 1 Lakh in the previous year).

Features & Benefits of HDFC Bank Dinners Club Card

  • Earn 3 reward points on spending every Rs. 150 on retail
  • Reward points can be redeemed for booking air tickets and hotels across 150+ airlines and hotels (domestic as well as international)
  • 1 Reward Point = 0.30 AirMile
  • 10X reward points on international spends
  • Welcome as well as renewal benefit of 1,000 reward points

Why should you use this card?

  • Book air tickets and hotels from 150+ Airlines and Hotels (Domestic & International) through www.hdfcbankdinersclub.com.
  • Redeem earned reward points for AirMiles across InterMiles, or Singapore Airlines (KrisFlyer Miles). (1 Reward Point is equal to 0.30 AirMile )
  • Redeem earned reward points for booking air tickets and hotels in Indiaand abroad
  • Reward points are valid for 2 years from the date of accumulation
  • Renewal fee waiver on spending Rs. 1 Lakh in the previous year

IndusInd Bank Platinum Credit Card

IndusInd Bank Platinum Credit Card

Being in the premium card category, it offers some luxury offers to customers in dining as well as lifestyle benefits. You can avail great discounts by using this card on BookMyShow or Shopping and travel partners. On every Rs. 150 that you spend, you get 1.5 reward points. It offers travel insurance as well as air accident cover of up to Rs. 25 Lakhs.

Features of IndusInd Bank Platinum Credit Card

  • Joining fee: Rs. 3,000
  • Annual fee: Nil
  • Get 1.5 Reward Points for spending every Rs. 150 on IndusInd Bank Platinum Credit Card.
  • Save on movie tickets, travel, fuel surcharge, and other spends
  • Buy 1 movie ticket and get another 1 for free
  • Fuel surcharge waiver
  • Get access to Priority Pass Membership
  • Travel insurance against lost/delayed baggage, loss of passport, loss of ticket, and missed connection.

Why should you use this card?

IndusInd Bank Platinum Credit Card hosts a couple of benefits to its customers.

  • Dining, lifestyle and travel partner benefits.
  • Brand gift vouchers
  • Insurance cover of upto Rs. 25 Lakhs.
  • Extra reward points on each purchase make the customers save more.
  • 1 reward point  = Re. 0.85

SBI Card Elite

SBI ELITE Card

This beautifully designed Credit Card by the State Bank of India (SBI) has so much to offer to Credit Card users. The card provides users with discounts on flight and hotel bookings, complimentary lounge access (international as well as domestic), attractive offers on shopping, dining, and movie ticket bookings. You also get Club Vistara Membership, Trident Privilege Membership, International & Domestic Lounge Program Membership. The card enables you to earn up to 50,000 Bonus Reward Points (worth Rs. 12,500) per year. On spending Rs. 3 Lakhs and 4 Lakhs annually, you earn 10,000 bonus Reward Points.

  • Joining Fee: Rs. 4,999 + Taxes
  • Annual Fee: Rs. 4,999 + Taxes

Feature & Benefits of SBI Elite CARD

  • Welcome e-Gift voucher valued Rs. 5,000
  • 6 complimentary accesses to international airport lounges per year (maximum 2 visits per quarter)
  • 2 complimentary visits to domestic airport lounges, every quarter in India
  • 1 complimentary lounge access voucher & 1 upgrade voucher under Club Vistara Membership
  • Earn 9 Club Vistara Points on spending every Rs. 100 on Vistara flights
  • Earn 50,000 bonus reward points (worth Rs. 12,500)  year
  • Earn 10,000 reward points on achieving the milestone spends of Rs. 3 Lakhs and Rs. 4 Lakhs annually.
  • 5X reward points on dining, grocery, and departmental store shopping
  • 2 reward points on spending every Rs. 10 on all other categories

Why should you use this card?

  • Complimentary lounge access
  • 7% instant discount on Big bazaar.
  • Extra Reward Points on shopping, dining.
  • 2 Complementary movie tickets.
  • The free membership option makes the card beneficial to use that extends to Trident Privilege Membership, International & Domestic Lounge Program Membership and Club Vistara Membership.

 

Apply for SBI Credit Card

Why is a Credit Card Important?

A Credit Card is the easiest way to make transactions in the fast-moving world.Here are some reasons why using Credit Cards is important:

  • They provide convenience as you don’t have to carry cash everywhere you go
  • They provide you an opportunity to build your credit  
  • They are safe to use as they come with protection against fraud and theft
  • They are a form of credit or loan which can be used when you need immediate funds and lack money in your bank account or pocket. You can shop today and pay later with them.
  • They are universally accepted unlike cash

What are the Benefits of Using Best Credit Card?

Credit Cards come with various benefits, such as:

  • Credit Cards comes with cashback offers, discounts, and other lucrative schemes
  • Some Credit Cards come with insurance benefits as well
  • Co-branded Credit Cards provide you various privileges and benefits on shopping through their partner associates.
  • You can earn reward points on your transactions done through cards, which can be redeemed for further transactions.

How to Choose the Best Credit Card for Yourself?

If you are about to purchase your first Credit Card, here are some tips to help you choose the best one for yourself:

  • Decide why you need a Credit Card and for which purpose. Maximising rewards that can be earned by using your card is a smart move. Look at your spending habits and find a card that matches them. There are many cards that offer bonus reward points for certain purchases. For example, if you travel frequently through flights, get a card that comes with a frequent flyer program (FFP).If you travel mostly by car, you can opt for a credit card that gives rewards and cashback on fuel purchase. Analyse your requirement and prepare the list of best credit cards under that category.
  • If you think you will carry a balance, go for a card that has low interest rate
  • Look for the joining fee, renewal fee, and other charges associated with card. Choose the one that is affordable as per your monthly income.
  • Consider the type of rewards that are most useful for you
  • Look for the cashback, maximum value for reward points, discounts, fuel surcharge waiver, and other benefits beforing finalising the card.
  • Research the card that is right for you, on the basis of your spending habits, required credit limit, and monthly income.
  • Shortlist top 10 Credit Cards in India and compare offers, terms, and annual fee of each of them and choose what suits you the best.
  • Know about the eligibility criteria of the best credit cards shortlisted by you before applying, like, Credit Score, age, income, and other requirements.
  • Apply for the card. You can apply online through MyMoneyMantra or the official website of the credit card provider. 

When Applying for a New Credit Card Consider the Following Things

  • Your spending habits
  • The rate of interest
  • Credit limit being sanctioned
  • Fees, charges, and penalties
  • Balance computation method
  • Rewards and incentives

 

10 Best Credit Card in India 2020

 

FAQs on Best Credit Cards in India

✅ Which Credit Card is Best in India 2020?

Multiple credit cards are available from top Banks in India which offer exclusive benefits such as reward points, air miles, cashback and discounts on shopping, travel & spends. You can choose the best Credit Card as per your requirement. Citibank Cash Back Credit Card, Standard Chartered Manhattan Platinum Credit Card, ICICI Instant Platinum Credit Card, IndianOil Citi Platinum Credit Card, HSBC Visa Platinum Card, Simply CLICK SBI Card, Axis Bank Neo Credit Card, HDFC Bank Diners Club Card, IndusInd Bank Platinum Credit Card, and SBI Card Elite are the most popular credit cards in India.

✅ Which credit card has no annual fees in India?

There are multiple credit cards available with Zero Annual fees.  ICICI Instant Platinum Credit Card,  HSBC Visa Platinum Card , Citibank Rewards Domestic Credit Card and IndusInd Bank Platinum Credit Card are some of the examples.

✅ Which is the best premium credit card in India?

Premium credit cards offer maximum benefits on each spend such as Jet Airways American Express Platinum Credit Card, SBI ELITE Visa & Master Card, Citi Premier Miles Credit Card, American Express Platinum Travel Credit Card, Standard Chartered Super Value Titanium Credit Card.

✅ Which bank gives the highest credit card limit India?

The credit limit directly depends upon the customer’s eligibility like salary, Cibil score etc. However, the credit limit gets increased if you maintain good credit history.  Some of the banks such as SBI, Citibank, American Express, HDFC, ICICI and Axis Bank etc. offer premium credit cards with high credit limit.

✅ How many Credit Cards should I have?

If you are a new Credit Card user, you must focus on building your credit history with one or two Credit Cards. Pay off your complete balance each month. Later on you can add on Credit Cards for specific purposes, like a good rewards program, obtaining better travel insurance, and so on.

If you have been using cards for several years, you may add a card to obtain a lower rate of interest or transfer a balance to a zero interest card. However, make sure to keep your debt-to-credit ratio below 30%.

✅ Which credit card is best for salaried employees?

SBI Simply Save Credit Card, SBI Elite Credit Card, IRCTC SBI Platinum Credit Card, Citibank Cashback Credit Card, and IndianOil Citi Platinum Credit Card are some of the credit cards which are best for salaried employees as it provides exclusive discounts, reward points and cashback on every spends.

✅ What is the minimum salary required for getting a Credit Card?

Every bank has its own eligibility criteria in term of minimum salary required to obtain a Credit Card, however, most banks need a minimum monthly income of Rs. 20,000.

✅ What are the joining and annual fees of Standard Chartered Manhattan Platinum Credit Card?

Annual and joining fee of the Standard Chatered Manhattan Platinum Credit Card is Rs. 999.

✅ Which cards provide complimentary lounge access?

SBI Card Elite, Yatra SBI Credit Card, HDFC Regalia First Credit Card, American Express Platinum Travel Credit Card, Axis Bank Vistara Infinite Credit Card, and Jet Privilege HDFC Bank Platinum Credit Card are some of the best credit cards available in India that provide complimentary airport lounge access.

✅ Which are the best credit cards for shopping in India?

Citibank Cash Back Credit Card, Standard Chartered Manhattan Platinum Credit Card, SimplyCLICK SBI Card, SBI SimplySAVE Credit Card, Amazon Pay ICICI Credit Card, and Axis Bank Buzz Credit Card are some of the best credit cards available in India for shopping.

Credit Card – News

16.07.2020: FamPay launched FamCard, India’s first numberless card

FamPay, India’s first Neobank for teenagers announced today the launch of India’s first numberless card, named FamCard. It is just like any other debit card that teenagers can use to make payments independently. With FamPay’s numberless card, minors can finally make online (UPI & P2P) and offline payments with no need to set up a bank account. Every transaction is protected with fingerprint, Face ID, pattern lock or PIN.

15.07.2020: Shares of SBI Card rise over 1%

Shares of SBI Cards & Payment Services Ltd. traded 1.3% up in Wednesday’s trade at 10:48AM (IST). The stock opened at Rs. 697 and touched an intraday high & low of Rs. 704.35 & Rs. 692.95, respectively. Shares of SBI Cards & Payment Services Ltd. quoted a 52-week high of Rs. 769 and a 52-week low of Rs. 495.25.

10.07.2020: RBL Bank revamps its ‘RBL MyCard’ credit card app

Amidst the current pandemic of COVID-19, RBL Bank has revamped its RBL MyCard credit card app under its new-age contactless banking services. The app is revamped to deliver a host of category-first features like spend analyser, real-time disbursal of loan amount, and a fully-visual representation to keep the customer updated on reward milestones.

 

Also Read: 10 Best Rewards & Cashback Credit Cards for 2020 in India

 

To apply online for best Credit Cards in India, Secured Loans and Unsecured Loans, visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 100+ Banks and NBFCs. We have served 4 million+ happy customers since 1989.

 

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