The Best Credit Card Companies You’ve Never Heard Of
The guide lists the best credit card companies in 2023. Credit cards are essential in our financial lives because they make things easy, provide options, and offer perks. India has credit cards with different benefits and ways to earn points. Choosing the right credit card can be difficult due to the numerous options available.
We will discuss the top credit card companies in India. We will consider points, cashback, yearly fees, interest rates, and other perks. We can help if you travel often, enjoy shopping frequently, or want rewards for your purchases. Please sit, and let’s explore the best credit cards in India that can maximize your savings.
Here are the top credit cards, ranked by their features, perks, and points programs.
Here are the 12 best credit cards in India that people like:
HDFC Bank Regalia Credit Card
HDFC Bank is one of India’s top credit card companies, offering the best HDFC Bank Regalia Credit Card. It is a premium credit card. The card is made to give its users exclusive rewards and privileges that will help them live a luxurious life.
Some of HDFC Bank Regalia Credit Card’s most essential features are:
- Welcome Benefit: The card comes with 10,000 reward points that may be used for many products and services.
- Reward Points: You gain points for every purchase made using the card. These reward points may be used for flights, hotels, and shopping vouchers.
- Complimentary Airport Lounge Access: Certain U.S. and international airport lounges are free with the card.
- Insurance Benefits: The card provides free insurance up to Rs. 1 crore for aviation accidents and Rs. 25 lakh for medical emergencies when traveling.
- The card offers savings at partner restaurants nationwide.
- Concierge Services: The card has 24/7 concierge services to aid with trip itineraries, hotel reservations, and other requirements.
- HDFC Bank Regalia Credit Cards are available to 21-year-olds with solid credit who earn at least Rs. 60,000 per month. Applications may need verification of identification, address, and income.
Overall, the HDFC Bank Regalia Credit Card is a high-end credit card that gives its users many perks and benefits. However, you should carefully examine the card’s features and fees to determine if it fits your lifestyle and financial needs.
Citibank Cashback Credit Card
The Citibank Cash Back Credit Card is a credit card that gives cash back on purchases. This credit card has features and perks.
- The annual fee for this credit card is waived for the first year and then levied at a rate of Rs. 500 per year after that.
- Cashback: The card offers rewards on various transactions, including 5% cashback on cinema ticket purchases, 5% cashback on phone bill payments, and 0.5% cashback on all other purchases.
- Fuel fee waiver: The card waives the 1% fuel cost on all gasoline transactions at all petrol pumps.
- With Citibank’s Dining Privileges card, you may enjoy exclusive savings at a variety of restaurants all around India.
- The card offers convenient EMI payment terms for purchases made at participating merchants.
- You can use the card to make contactless payments up to Rs. 5,000.
The Citibank Cash Back Credit Card has a credit check and minimum income requirement. They will be given a credit line proportional to their income if they qualify.
SBI Card Elite
SBI Card, a division of State Bank of India, one of the best credit card companies, offers a premium credit card called SBI Card Elite. The purpose of this credit card is to provide its members with exclusive access and perks. Key characteristics of the SBI Card Elite include the following:
Every transaction with an SBI Card Elite generates reward points for gift cards, vacations, and more. These points may be used for retail, travel, and restaurants. The card offers gas, dining, and entertainment benefits.
The SBI Card Elite grants complimentary access to airport lounges in India and abroad.
The card offers airline and hotel stay discounts, travel insurance, and a personal concierge service.
Cardholders receive discounts on dining, shopping, and entertainment, among other lifestyle benefits. You can also attend select events and activities.
SBI Card Elite activation comes with a unique surprise.
To apply for SBI Card Elite, visit the SBI Card website or use their mobile application. However, it is essential to remember that eligibility requirements exist, and acceptance is at the bank’s discretion.
American Express Platinum Reserve Credit Card
The American Express Platinum Reserve Credit Card is a premium credit card from American Express, one of the best credit card companies in India. These are some of the card’s characteristics and benefits:
- After spending the minimum, cardholders can earn 11,000 Membership Rewards Points.
- Cardholders earn 1 Membership Rewards Point for each Rs. Fifty spent, except for gas, utilities, insurance, and cash.
- Cardholders have unlimited access to over 1,200 airport lounges worldwide, including local and international ones.
- Travel: The card offers travel insurance, hotel privileges, and airfare and hotel discounts.
- American Express Selects Dining offers discounts at over 1,000 Indian restaurants.
- Cardholders can receive free spa services, yoga classes, and health checks at selected partners.
- Redeeming Rewards: Membership Perks Points may be redeemed for flights, hotels, shops, and gift cards.
- The card costs Rs. 10,000 annually.
ICICI Bank Sapphiro Credit Card
ICICI Bank, one of India’s best credit card companies, offers the Sapphiro Credit Card, a premium credit card. This credit card is tailored to the lifestyle and financial demands of wealthy individuals who desire elegance and exclusivity. The ICICI Bank Sapphiro Credit Card offers a variety of features and advantages, including reward points, lounge access, travel and dining perks, and insurance coverage. The ICICI Bank Sapphiro Credit Card offers the following essential benefits:
- Welcome gifts include 10,000 reward points and Rs. 10,000 in coupons.
- The cardholder earns two reward points for every Rs. 100 spent. Flights, hotels, and merchandise may be purchased with reward points.
- Domestic and international airport lounges are free for cardholders.
- Travel insurance and flight discounts are provided to cardholders.
- Dining Perks Several restaurants provide discounts to cardholders.
- Ensuring the cardholder is covered for aviation mishaps, lost cards, and fraud
- The ICICI Bank Sapphiro Credit Card has a Rs. 3,500 annual fee that can be eliminated if the cardholder spends above Rs. 6,00,000.
Overall, the ICICI Bank Sapphiro Credit Card is a beautiful option for anyone seeking a premium credit card with various features and bonuses.
Standard Chartered Super Value Titanium Credit Card
The credit card from Standard Chartered is named Super Value Titanium.
Standard Chartered Bank offers rewards-based credit cards. The credit card of Standard Chartered is named Super Value Titanium. The card has essential features and perks listed below.
- The card provides cash back on gas, food, phone bills, and energy bills.
- The card allows you to receive up to 5% cash back on fuel sales at any gas stop in India. The card’s annual fee can be waived by spending enough money. The card allows you to make touchless payments, making it easy and safe to buy things without swiping or entering your card.
- Standard Chartered Bank considers your credit score, income, and credit records to determine your credit limit.
When asking for it, it is essential to know the terms and conditions, fees, and qualifying requirements of the Standard Chartered Super Value Titanium Credit Card.
Axis Bank Buzz Credit Card
Axis Bank is a credit card company in India that offers the Axis Bank Buzz Credit Card. The card meets the needs of online shoppers and provides prizes and benefits for purchases made online.
The Axis Bank Buzz Credit Card offers the following significant benefits:
- When the card is turned on, you receive Rs. 1,000 in Flipkart coupons as a welcome gift. The card earns two reward points for every Rs. 200 spent online and one for every Rs. 200 spent elsewhere.
- Cardholders can save 5% on orders made at Flipkart, Myntra, and 2GUD through online shopping discounts.
- The maximum possible monthly discount is 200 rupees. Fuel Surcharge Waiver: The card provides a 1% waiver on petrol purchases up to Rs. 4,000 per transaction.
- The Buzz Credit Card from Axis Bank does not have an annual fee, making it a cost-effective choice for online shoppers.
- EMV Chip Security: The card is fitted with an EMV chip, which protects against fraudulent transactions.
You may apply for the Axis Bank Buzz Credit Card by visiting its website or one of its physical locations. To complete the application process, you must meet the qualifying conditions and submit the required paperwork.
Kotak Mahindra Bank Royale Signature Credit Card
The Kotak Mahindra Bank Royale Signature Credit Card is a premium credit card available in India from Kotak Mahindra Bank, one of the top credit card companies. It is intended to deliver privileged privileges and prizes to high-net-worth individuals who value luxury and special treatment.
The Kotak Mahindra Bank Royale Signature Credit Card offers the following features and benefits:
- Activated cardholders receive up to 30,000 reward points. Card transactions generate reward points. Use these reward points for plane tickets, hotel stays, and more. Cardholders can use local and international airport lounges for free.
- Indian golf courses provide free games and instruction to cardholders.
- Travel, restaurant, and other concierge services are available 24/7 to cardholders.
- Cardholders receive aviation accident insurance, lost card liability, and more.
- Fuel surcharge waiver: Cardholders receive a Rs. 4,000 yearly fuel fee waiver.
The Kotak Mahindra Bank Royale Signature Credit Card has an annual fee of Rs. 9999; eligibility conditions vary by bank.
RBL Bank Platinum Maxima Credit Card
RBL Bank Platinum Maxima Credit Card users receive various bonuses and prizes from one of the top credit card companies. This credit card’s main characteristics are:
- Welcome bonuses: Up to 8,000 reward points for new members.
- Reward points: Each card transaction generates rewards that may be redeemed for gift certificates, merchandise, and other advantages.
- Airport lounge access: Certain Indian airport lounges are accessible for cardholders.
- Gasoline cost waiver: Clients can waive petrol expenses up to Rs. 100 monthly.
- If the user spends Rs. 1.5 lakh or more, the card’s annual fee is waived.
- Insurance: Clients can purchase card fraud, lost card liability, and flying accident insurance.
- Exceptional discounts: The card gives deep discounts at partner restaurants, shops, and entertainment venues.
The RBL Bank Platinum Maxima Credit Card is a beautiful alternative for consumers wanting premium credit card privileges and rewards. Users should consider their spending habits before getting the card because it has an annual charge.
HSBC Visa Platinum Credit Card
The top credit card business in India, HSBC, issues the Visa Platinum Credit Card, a specific kind of credit card. HSBC is a global provider of banking and financial services. This card provides several features and benefits, including:
- The HSBC Visa Platinum Credit Card has a rewards program. Users can earn points for every approved purchase made with the card. You can turn points into prizes such as cash back, gift cards, and more.
- The card has perks for travelling, like free travel insurance, airport bar access, and hotel reservation discounts.
- The card saves meals at chosen restaurants and cafés in various places.
- Fuel Surcharge Waiver Cardholders are exempt from fuel surcharges at petrol pumps across India, subject to specific limits and conditions.
- Contactless payments allow you to make payments without swiping or inserting the card into a reader. This speeds up and simplifies purchases.
- Cardholders are protected against unauthorized charges on their card. They can’t be held responsible for any theft.
The benefits of the HSBC Visa Platinum Credit Card are listed above. It is essential to read the terms and conditions carefully and use the credit card correctly to avoid high-interest debt.
IndusInd Bank Platinum Aura Credit Card
The IndusInd Bank Platinum Aura Credit Card is a premium and one of India’s good credit card companies with several privileges. This card’s main features are:
- Every purchase gets card rewards points. These points can be exchanged for air miles, merchandise, and gift vouchers.
- Airport lounge access: Relax at numerous domestic and international airport lounges with the card before your flight.
- Fuel surcharge waiver: All petrol purchases at Indian petrol outlets are free with the card.
- Dining discounts: Certain restaurants provide discounts with the card.
- Aviation accidents and lost-card liability insurance are free with the card.
- Concierge services: The card’s concierge may organize flights, hotels, etc.
- Contactless payments: The card offers rapid, secure contactless payments.
The IndusInd Bank Platinum Aura Credit Card is a premium credit card with several rewards and features, making it one of the excellent credit card companies. Nevertheless, the card has an annual fee and additional costs, so study the terms and conditions before applying.
Yes Bank Prosperity Reward Plus Credit Card
Yes Bank’s Prosperity Reward Plus Credit Card offers several incentives and privileges to its members as one of the top credit card companies. The Yes Bank Prosperity Reward Plus Credit Card has these features:
- Rewards Program: Every card transaction earns points. These reward points can be used for numerous goods and services.
- Welcome Benefits: The card welcomes new users. This may include reward points or money on the card’s first few transactions.
- The card waives the fuel premium on gasoline purchases.
- Eating Benefits: The card provides discounts and free meals at partner restaurants.
- Airport Lounge Access: Certain Indian airport lounges are accessible with a card.
- The card covers accidental death, misplaced baggage, and other events.
- Annual Fee: The user’s credit profile and spending habits determine the card’s yearly charge.
Those who wish to earn rewards on their regular shopping and enjoy features like airport lounge access and insurance coverage might choose the Yes Bank Prosperity Reward Plus Credit Card.
How to apply for a credit card?
Applicants may apply for a credit card by visiting the credit card companies or a partner company’s website.
If the individual is not highly tech-savvy, they may go to the bank’s branch or office that offers the desired card.
Applicants may also call the toll-free lines to schedule a call with the agent in charge.
Can I apply for a credit card online?
Anyone with a decent credit history can apply for a credit card. The only people who are not eligible to use it are as follows:
- People who do not have valid identification papers.
- Those who have declared bankruptcy or filed for bankruptcy
- People with a bad credit history.
How to use a credit card?
Credit cards may be used for both online and in-person purchases.
The sole need for offline transactions is that the individual taking the money has a swiping machine. The cardholder should know the secret PIN that must be input to complete the transaction. The transaction is completed once the card is swiped into the device and the personal number is entered.
To purchase online, pick the credit card type from the choices provided by the shopping website, input the card number and expiration date found on the back of the credit card, and an OTP, which is a four-digit number, will be generated and sent to the registered cellphone number. Thus, the OTP number received must be put in a slought on the original website from which the purchase must be made. This will finish the purchasing procedure.
How to redeem reward points on a credit card?
Redemption will be determined by the offer offered by the credit card provider at the time the card is launched. Based on the current offers from different credit cards, redemption might be of the following varieties:
Converting reward points into cash that may be used to make more purchases or to pay off credit card debt.
Using reward points to purchase presents from partner firms
Purchasing presents directly from the credit card company
How do I transfer money from a credit card to a bank account without charges?
This will depend on the credit card one uses; one can withdraw or transfer money from a bank account using the credit card by the credit limit, but the user will have to pay a high interest rate for doing so. Failure to do so may result in the ruins of that individual’s credit score.
A few credit cards in India provide an interest-free loan for a certain length of time (line of credit), usually 48 days; if the money is returned within this time frame, there is no penalty or interest on the borrowed amount.
How do you increase the credit card limit?
Credit card limits may be raised by raising one’s credit score by paying all bills on time and without missing any payments.
How many credit cards should I have?
Because each card has a distinct fundamental function, one may have many credit cards based on their requirements. Two credit cards cannot be the same, which means that if the user wants a gasoline rebate, the needed credit card is a fuel credit card, which offers 5% cashback on fuel purchases, but a standard offline shopping card does not provide any cashback or reward points on fuel purchases. Similarly, if a person needs a rebate on online purchases, he or she must use an online shopping credit card since an offline shopping card or a gasoline credit card will not provide that advantage. These credit cards are not particularly broad, but you may choose what you need depending on your demands.
How do I compare different credit card options?
Value of paybacks: The first aspect to compare the two credit cards is the difference in the value of the retribution.
The former is preferable if one card offers a 5% payback and the other provides a 2% payback.
Ease of use of the payback: Another essential element is the ease of use of the payback; sometimes, firms supply a payback, but the usage of the payback or reward points is so precise that it is technically of little relevance. For example, you are only permitted to spend the reward points at a specific online shop, or the value of the reward points is not uniform, and if you use it at a particular store, it is 100%, and if you do not use it there, it is 50%. As a result, cards with a fixed amount of reward points or money should be preferred.
Extra fees: Companies may charge an additional price for some crucial services, such as redeeming reward points. These costs will be listed in the papers but not emphasized so that they may be overlooked. These fees should be deducted from the total sum received as reward points. As a result, firms that do not charge any redemption fees should be considered.
Are there any credit cards specifically designed for Indian consumers?
Banks now construct all credit cards accessible in the Indian market after assessing the demands of their Indian clientele. Even American corporations like American Express have created credit cards after researching the Indian market.
What are the best credit cards for cashback in India?
We have included the credit cards with the highest cashback and reward points in our list of the best credit cards above.
Are there any credit cards that offer exclusive discounts and offers in India?
There are credit cards that provide numerous types of discounts and deals, as detailed in this post. RuPay cards have the most partnerships, while others with continuous savings are indicated in the list above.
How do I choose the best credit card for my needs in India?
First, you must pick where to be assisted, since all credit cards are developed around a specific domain. And since there are no all-arounder credit cards that can facilitate everything, choosing the part to be promoted in and then doing a comparative study of the services supplied in that area will help you choose the ideal credit card.
If you need to use the card for shopping, look for credit cards exclusively; if you require services such as travel, compare credit cards in that category solely. The important domains in which you may get a particular credit card are as follows:
- Online purchasing
- Shopping in person
- Gas cards
- Bill payments
- Cards for everyday use
- Travel vouchers
- Premium cards for luxury and convenience
- Medical costs
- Credit card with a credit line
What are the fees associated with credit cards in India?
The following fees apply to the majority of the cards:
The joining fee is technically the first year’s yearly fee and is often different in amount from the cost payable from the second year forward. Technically, no charge is collected during card subscriptions in 99% of cases.
Annual amount: This is the amount that is collected after the second year and continues until you unsubscribe from the services.
Charges for Reward Point Redemption: This fee is payable when you redeem your cashback and is usually approximately INR 100. Depending on the firm and the card, these fees may or may not be assessed.
Interest Rate: This interest rate is only applied to persons who do not pay their monthly dues on time; it is a penalty and should only be considered by defaulters. In every bank, this portion is roughly 3% or less. It may be reduced by negotiating with the bank, and although there is no predetermined value for this, banks often cut it for legitimate and long-term clients.
Are there any credit cards that offer zero or low interest rates in India?
There are credit cards with lower interest rates, but the lowest rate of interest is 1.5% per month, which is still close to the standard rate of interest, and it is not suggested to opt for it since any failure to pay your credit card dues will harm your credit score. In such cases, even a few late payments may severely damage your credit report, rendering you ineligible for credit cards and all types of loans.
What are the best credit cards for students and young professionals in India?
This will depend on how they use credit cards, whether they wish to use it to pay utility bills, travel, shop, and so on. As previously mentioned and described, these factors will be used to choose the best card.
India’s best credit card companies might vary based on an individual’s spending patterns and financial goals.
While selecting a credit card, factors such as rewards programs, cashback offers, annual fees, interest rates, and credit limits should be evaluated. In 2021, India’s top credit card companies were HDFC, SBI, ICICI Bank, and Citibank.
When selecting the best credit card, evaluating several possibilities and thoroughly studying the terms and conditions is usually a good idea. Furthermore, using credit cards wisely and paying bills on time is critical to prevent accruing debt and harming your credit score.
Please remember that this list is incomplete and that different credit cards may be better for others depending on their spending habits, financial goals, and personal preferences. Before applying for a credit card, you should research and carefully read the terms and conditions.