Credit Cards have kind of revolutionized the concept of monetary transactions. Credit Cards in simple terms are small plastic gadgets that come alot too handy and fills your life with convenience and comfort when your cash runs out. Just a gentle swipe over the machine and in seconds you pay seamlessly for your purchase.
The range of credit cards that one can access these days are infinite. Be it for shopping, traveling, fueling, watching cinema etc., we have got credit cards for everything.
Choosing the Right Credit Card For Yourself.
Though choosing a credit card may seem to be an easy task, to be honest it is not so. Choosing an appropriate and right credit card depends upon your spending habits, income earned and the type of rewards or benefits one is seeking.
- Firstly, if you are a frequent shopper, you should be going for cards which offer high rewards or benefits.
- Secondly you should focus on comparing the annual fees and subscription policies of credit cards that suits best for you.
- Thirdly you should analyze the reward program in detail before opting on to a credit card.
Best Credit Cards in India.
We have painstakingly compiled a comprehensive list of the best credit cards in the country with their own set of advantages and disadvantages, fees, charges and eligibility requirements. Following are the best credit cards in India-
1. Citibank Cash Back Credit Card.
The Citibank Credit Card is renowned for its cashback offers. It pays a flat 5 percent cashback when you use it to pay for cinema tickets or clear your utility bills.
Additionally it offers half percent of cash back with every purchase. And the best part is it levies no joining fees and the annual maintenance fees is also very affordable and nominal i.e, Rs. 500 only.
2. ICICI Instant Platinum Credit Card.
This card is best for students, housewives, self-employed persons or people with negative credit histories. The bank provides this lucrative credit card to those who have a FD but without any strict and grueling documentations. The possessors of this card can avail benefit of Rs. 100 discount twice a month on movie tickets, and can get a flat 15 % off at over 80 restaurants in the country. And over that there is absolutely ZERO annual or joining fees.
3. HDFC Regalia Credit Card.
It is one of the most sought after credit cards in the country particularly for its dynamic reward programs and travel benefits. This card comes with a lot of additional benefits such as 4 point rewards on every Rs.150 spent, Complimentary Airport Lounge in best airports in India and abroad. Also, through these cards you get over Rs. 1 crore air accident and travel insurance. The annual fee is Rs. 2500 which is further waived off if you spend more than 3 lakhs per year.
4. SBI Card Elite.
This card is perfect for those who value luxury and convenience both at the same time. Through this card one can avail complimentary access to domestic and international airport lounges, offers 2 reward points on every Rs. 100 spent and the person gets a complimentary gift voucher of Rs. 5000 at the time of the issuance. The annual fees is 4,999 but is waived off on spending Rupees Ten Lakhs annually.
5. Axis Bank Magnus Credit Card.
This card offers ample benefits and privileges to high spenders and frequent travelers. Key benefits of this card includes 2 reward points on every Rs. 200 spent, complimentary access to domestic and international airport lounges along with lucrative travel insurances. The annual fees for the card is Rs. 10000 which is ultimately waived off when spending is over 20 lakhs annually.
6. American Express Platinum Card.
This card is exclusively made for people who prefer luxury, premium benefits, and high-end lifestyle. This card provides automatic access to premium airport lounges, premium golf courses, and unmatched sophisticated events. It gives you 1 membership reward point per Rs. 50 spent. This card allows you to experience the next level of luxury and sophistication with just a minimal annual fee of Rs. 5000.
7. IndianOil Citi Platinum Credit Card.
This card is best for customers who frequently fuel their vehicles in the country. For every Rs. 150 spent on petrol across any fuel station in the country, one earns 4 turbo points which can be later exchanged for free petrol or complimentary gift vouchers. Apart from petrol and diesel purchases, one gets 2 turbo points on grocery and supermarket expenditure and 1 turbo point on shopping and dining expenditures with every Rs. 150 spent. The annual fee is Rs. 1000 which is waived when you spend more than Rs. 30000 annually.
Conclusion.
Concludingly, it is important to understand that there are two essential principles that should be kept in mind. Firstly, buying a credit card shall primarily be based on your requirements and larger financial goals. And secondly one should thoroughly go through the terms and conditions of usage and possession before purchasing a credit card of your dreams.
