It’s 2021, and cashless transactions are the order of the day. Whether it is online retail portals, travel expenses, fuel stations, or any other transactions that need to be made, having a credit card not only makes the process simple and secure but also beneficial monetarily. But how exactly does that work? That is exactly what we intend to discuss here, along with all the nitty-gritties of credit cards to help you zero in on the Best Credit Card in India, and use it to the fullest. So, here are the answers to some of the most widely asked questions that you must know before taking the plunge. In a nutshell, a credit card allows users to make personal payments with money borrowed from banks before having to pay it back at the end of a certain billing period.
One might think of it as using the bank’s money for personal expenses for free and paying it back with no added costs at the end of the billing cycle.
What Are The Best Credit Cards In India?
Every person has different requirements and expectations from their credit card. Here is a list of some of the Best Credit Card in India and what they offer, to help you zero in on the best credit card for yourself.
HDFC Freedom Credit Card:
Undoubtedly one of the best entry-level credit cards in India, the HDFC Freedom Credit Card offers a host of reward points and cashback offers on purchases made using the card. Consumers can enjoy 5x reward points on everything, from grocery shopping and dining to movie, railway, and taxi bookings. On spending Rs. 90,000 a year with the card, you are gifted a voucher worth Rs. 1,000.
SBI SimplyCLICK Credit Card:
The simply click Credit Card from SBI is designed specifically to make your experiences of online shopping better. The card is great for people who mostly shop online because all of its cashback offers and reward points centered around online shopping platforms. You can get 5x reward points on all online spends, and 10x rewards on making online spend with exclusive partners of the SBI card. With an annual fee of Rs. 499, the card definitely deserves to make it your wallet.
Amazon Pay ICICI Credit Card:
The Amazon Pay ICICI Credit Card is a great tool to make savings while shopping online. If you are a non-Prime member, you get a 3% cashback on all purchases. For prime members, that cashback is a whopping 5%. You can also earn 2% reward points on recharges and bill payments, with every reward point amounting to 1 rupee. Reward points are automatically converted into Amazon Pay balance and credited to their Amazon account.
Citi Cashback Card:
The Citi Cashback Card allows you to earn while spending. You can get 5% cashback on bill payments if they are made through Citibank Online Bill Pay. The card also allows you to make contactless payments up to Rs. 2,000 without any sort of PIN requirements.
Bajaj Finserv RBL Bank SuperCard:
There are hardly any credit cards in the market that are as innovative as the Bajaj Finserv RBL Bank SuperCard. The card offers a wide range of cashback offers and reward points. You can also use the card to withdraw interest-free cash for up to 50 days. All the accrued reward points can be redeemed for vouchers, gifts, and exclusive privileges like entry at member-only golf clubs, dining reservations, etc.
Yes, First Preferred Credit Card:
A great journey and shopping credit card, the YES FIRST Preferred Credit Card offers excellent rewards with every purchase and service availed with the card. A welcome benefit of 10,000 points is awarded on making the first purchase within the first 90 days. The card allows you to earn 2x rewards on travel agencies, domestic airlines, and restaurants across the country.
How Can I Get A Credit Card?
Today, online application not only makes the process much simpler but online algorithms evaluate your application and instantly indicate the chances of it getting accepted. Apart from the online application process, the other concern here is the credit score. The credit score is usually improved by following simple measures like-
- Paying bills on time.
- Not spending more than 30% of credit limit thus maintaining a good credit utilization ratio.
- Avoiding applying for too many loans or credits.
Most banks require a credit score of 700 or above, as well as some security payment of a running account with the bank, satisfying which a credit card is issued to the customer.
Now all you need to do is find out the best card as per the interest rate, annual charges, and rewards, check if your application meets the requirements of the bank, and apply online.
