We here at COMPAREDADA give you the collection of Top Ten Credit Cards to apply in India for 2017 in terms of benefits, discounts and cashback.
A credit card can come handy any moment of your life. Let aside the fact that you are a business man or a mere salary drawing employee its a must. Credit cards often under the impression that promote expenses. But under speculated usage they become a spearhead in terms of returns. Not only they substitute the emergency funds but also act as plastic currency when you actually have none.
We here at COMPAREDADA understand the vitality of owning a good credit card. Hence we bring you the Top Ten credit cards for 2017 which include a few famous names and a few underrated cards that can completely change the game.
#10. SBI ELITE Credit Card
SBI is one of the leading public bank in india and giving tough competition to its competitors in the credit card service also.
It also comes with a number of offers for spending on departmental stores, grocery and dining.
- Annual Fee – Rs. 4,999
- Renewal Fee – Rs. 4,999
- Fee Waiver – There is no way to waived off annual fee or renewal fee. But on the issuance of card you get a gift voucher of worth Rs. 5000 same as the amount of annual fee.
- Interest rate – 3.35% per month
- Cash advance fee – 2.5% or minimum of Rs. 300
Key Benefits of SBI Elite Credit Card
- Welcome e-gift voucher worth Rs 5000 from popular brands.
- Free movie tickets worth Rs. 6,000 every year. It is valid for at least 2 tickets per booking per month. Maximum discount is Rs.250/ ticket for 2 tickets only.
- Earn 10,000 bonus reward points on achieving annual spends of Rs 3 lakhs and 4 lakhs in addition to 15,000 bonus reward points on achieving annual spends of Rs 5 lakhs and 8 lakhs.
- 2.5% fuel surcharge waiver across all petrol pumps maximum up to Rs. 250 subjective to transaction from Rs.500 to Rs.4000.
- Earn 2 reward points per Rs.100 on all spends.
- Earn 5X reward points on dining, departmental stores, grocery and international spends.
- Enjoy complimentary domestic lounge access twice every quarter at airport lounges in india.
- Worth of 4 reward points = Rs.1.
- Also pay your card outstanding with reward points.
As you notice the annual fee of SBI elite is Rs.5000 that is preety much higher than the credit cards. Due to that reason this card is best for those, whose annual spend is more than 5 lakh.
Because on spending more than Rs.5 lakh you get 25,000 bonus reward points ( 10,000 on spending Rs.3 lakh and additional 15,000 on spending total of Rs.5 lakh) that become on redemption 25000 points= Rs. 6250, more than your annual fee. This is only bonus reward points, with that you also get regular rewards points.
#09. American Express® Gold Credit Card
American express gold card is the most popular credit card of the amex. Gold card offers 1000 bonus points every month on making 4 transactions of Rs.1000 or above. This bonus points is the main reason of its popularity among the amex cards.
- First Year Annual Fee – Rs.1000
- Annual Fee Onwards From Second Year – Rs. 4500.
- Fee Waiver – You get 4,000 bonus reward points whose worth is Rs.1000 equal to the first year annual fee.
Key benefits of American Express® Gold Credit Card
- 4,000 Bonus Rewards Points, to be awarded on using the Card 3 times within the first 60 days of issuance of card.
- Earn 1,000 Bonus Membership Rewards Points for simply using your Card 4 times on transactions of Rs. 1,000 and above every month.
- Earn 5,000 reward points on the renewal of card.
- Earn 1 Rewards Point per Rs.50 spent except for spend at Fuel, Insurance, Utilities and Cash Transactions.
- Get up to 30% discount and additional 5% cashback at over 1200 restaurants that are linked with the american express.
- The worth of reward points is 100 points = Rs.25.
- 1200 restaurants are located in the big cities of the country.
- No predefined limit.
- Redeem from 18 carat and 24 carat Gold Collection.
Simply Amex points. The prime reason is the amex points you get on low end spending. And also if you are a foodie this card is the best for you! Also investing in gold is plus point with this card.
#08. Citi Premiermiles Credit Card
Undoubtedly the best Credit Card for travel. If you are regular traveler along with doing transactions online then Citi premiermiles credit card is one of the best card for you. This card gives rewards in the form of miles that you can redeem a over a 100 domestic and international airlines.
- Annual fee – Rs 3000
- Fee Waiver – Annual fees will not waived off. But if you spend Rs.1000 with your card within the 60 days you will get 10,000 miles. You can redeem that miles at citibank’s preferred partner. The value of these miles is 10,000= Rs. 4500, Rs.1500 more than annual fee.
- Interest Rate – Range in between 37.20% to 42.00%
Key Benefits of Citi Premiermiles Credit Card
- Get 10,000 miles with your first spend of Rs 1,000 or more on your citi PremierMiles card within 60 days of card issuance.
- Get 3,000 miles on card renewal.
- Earn 10 miles for every Rs. 100 spent on exclusive website www.premiermiles.co.in.
- Earn 10 miles for every Rs.100 spent on all airlines transactions.
- Earn 10 miles for every Rs. 100 spent on flipkart and makemytrip.
- Earn 4 miles for every Rs 100 spent on all other transactions.
- Provides air accident insurance cover upto Rs.1 crore.
- It also provides complimentary language accessed to participating airport lounges in india.
- Redeem miles across over a 100 domestic and international airlines.
- You can also redeem mile, the value is 100 miles= Rs. 45 at citibank’s preferred partners.
- Redeem your miles up to 3 hours before take off.
Surely the card is best for a regular traveler. Because you can get 10% rewards miles for your spend. it is more useful if you spend on flipkart for shopping and makemytrip for booking, . This card offers 10 miles per Rs.100 you spend with this. If you redeem miles at preferred partners you get Rs.4.5 per Rs 100. Is short, 4.5% of reward points, such a big discount.
#07. Citibank Cashback Card
Citibank cash credit cards gives you 5% cashback on utility payments and also movie tickets. But there is no benefit for fuel spends, you have to apply for IOC card separately to get benefits on fuel.
- First Year Annual Fee – Rs. 500
- Annual Fee Onwards From Second Year – Rs. 500
- Fee waiver – Firstly call customer care to check if they waive the annual fee
Key Benefits of Citibank Cashback Card
- 5% cashback on movie tickets payments.
- 5% cashback on all your telephone bills.
- Also 0.5% cashback on all other spends.
- 5% cashback on all utility bill payments made online through citibank online bill pay.
Important Point regarding Citibank Cashback Card
- Cash back in the Telephone / Movies / Utility category is capped at Rs.100 per month surely for each category.
- Hassle free redemption of cashback in multiples of Rs.500.
If your monthly expense of telephone/ movies/ bill payment is around Rs 2000 each then it best for you. You can save around Rs.300 per month in addition to 0.5% cashback on all other spends. Fuel expenditure is beneficial if clubbed together with IOC.
#06. Indian Oil Citi (IOC) Platinum Credit Card
IndianOil citi platinum credit card is one of the famous card for maximum benefits on fuel. Surely the best one in its class.
It gives 4 turbo points per Rs. 150 on fuel, one turbo point is equal to Rs.1 fuel. That means benefit of 2.67% + you will get waiver on 2.5% of surcharge on fuel.
- Annual Fee – 1000
- Fee Waiver – On spending atleast Rs 30,000 per annum.
Key Benefits of Indian Oil Citi Platinum Credit Card
- Get benefits of worth Rs 250 on the activation of card.
- 4 Turbo Points on Rs.150 of fuel purchases at authorized IndianOil Retail Outlets across the country.
- 2.5% of fuel surcharge waiver.
- 2 Turbo Points on Rs.150 at grocery and supermarkets.
- 1 Turbo Point on Rs.150 spent elsewhere like Shopping, Dining and more.
- You get 4 turbo points on fuel only when you purchase fuel at Indian Oil retail outlets.
- One turbo point is equal to Rs 1 of free fuel that you can redeem at any Indian Oil retail outlets.
The fuel benefit is applicable on Indian oil’s outlets so you should apply only if you fill fuel at the Indian oil outlets.
#05. Standard Chartered Super Value Titanium Credit Card
Standard chartered super value titanium credit card is the best credit card that gives 5% cashback at spending money on fuel in India. It also gives 5% cashback on utility and telephone bill payments.
No other card offers such types of benefits.
- Joining Fee – Rs.499
- First Year Annual Fee – Nil
- Annual Fee Onward From Second Year – Rs.750.
- Fee Waiver – Firstly call customer care to check if they waive the annual fee.
Key Benefits of Standard Chartered Super Value Titanium Credit Card
- Get 5% cashback on fuel at all petrol pumps in India. You will receive a 2.5% surcharge reversal and 2.5% cash back on the transaction amount at any petrol pump, be it BPCL, IOC, HPCL or Reliance.
- 5% cashback on all telecom payments including phone bills
- 5% cashback on all utility bill payments, allowing you to save more on electricity, gas and water.
- Get 1 reward point per Rs.100 on all other spends.
- Minimum transaction amount for cashback eligibility is Rs.750.
- Maximum cashback per transaction is Rs.100.
- Maximum cashback per month is Rs.500.
- Every reward point is worth 30 paisa.
A very unique card in terms of the benefits. No other card provides such and in addition to that high reward point value.
#04 SBI Simply Click Credit Card
Simply Click Credit Card is third best credit card in India for people who want no annual fees credit card. There is small annual fees that will be waived off if you spend 1L amount per year from the date of approval.
- Annual fee – Rs 499
- Bonus – Rs 500 voucher from Amazon
- Fee Waiver – waived off by spending 100,000 in one year
Key benefits of SBI Simply Click Credit Card
- 10X rewards on online spends – Amazon / BookMyShow / Cleartrip / Foodpanda / FabFurnish / Lenskart / OLA / Zoomcar
- Earn 5X rewards on all other online shopping
- A welcome e-gift voucher worth Rs 500 from Amazon
- 2.5% fuel surcharge waiver (on 500+ trasaction amount)
- Cleartrip e-voucher worth Rs.2,000 on annual online spends of Rs. 1 Lakh (one more 2000 e-voucher on another 1Lakh milestone)
Best card for online shoppers. Great value for vouchers and attractive cashback on internet purchases.
#03. ICICI Instant Platinum Card
ICICI offers a simple credit card without any annual fees. If your application got rejected for Standard Chartered Platinum Credit Card then you can consider applying for ICICI Instant Platinum Credit Card.
You will not have any credit history and score if you have never availed any loan from bank. The good news is that you will start building your credit history after regular use of credit card.
It is not easy to get your first credit card in India. ICICI bank offers you instant credit card against fixed deposit if you have a saving account with ICICI bank. You can simply log on to ICICI online banking and apply for the card.
- Annual fee – NIL.
Key Benefits of ICICI Instant Platinum Card
- 3 payback points for every Rs.100 spent.
- Get ₹ 100 off on movie tickets twice a month.
- 2.5% fuel surcharge waiver can be availed on fuel transaction of maximum ₹ 4,000 at HPCL pumps.
- Global Emergency Assistance and Card replacement service available.
If you got rejected for ICICI card then don’t apply for any other card. Your CIBIL report will get impacted negatively. You must get a credit card against Fixed Deposit by visiting your bank branch.
ICICI credit card is a good option for Students, Housewives and Non-Salary people if they want to apply for credit card against a Fixed Deposit. If you worry for your CIBIL score just because you want to apply for a credit card, you must try ICICI Instant Platinum Credit Card.
#02. Standard Chartered Platinum Rewards Card
No annual fees or joining fees for Standard Chartered Platinum Rewards credit card.
Probably a good replacement or starter credit card. You can get it easily with no fees at all. Later you can upgrade to a better card from the same bank Standard Chartered. Good way to avoid maintenance fees and later upgrading to a better one. This card also provides good benefits and extremely preferable first credit card.
Key Benefits of Standard Chartered Platinum Rewards Card
- Get additional 1000 rewards points if you transact within 60 days
- Bonus 500 points for registering for online banking
- 20% cashback on Uber rides
- 5 points on spending 150 rupees on dining
- 5 points on spending 150 on fuel
- 1 reward points on spending 150 on any other category
Salaried people who want to own all rounder credit card without paying annual fees. You have high chance of approval of Platinum card if you are a salaried employee. You can request for upgrade to Manhattan card whenever you need in the future (approval based on your salary & credit card usage).
#01 Standard Chartered Manhattan Credit Card
Surely the best credit card for 2016-17 period. Remarkable benefits and extremely valuable for salary holders.
Primary purpose of using standard chartered Manhattan card is 5% cashback on grocery in supermarkets.Good for someone who spends around 6000 rupees every month on groceries. If you usually make bills around 3000, get straight 150 rupees into your account as cashback. It’s real cash without any hidden clause.
You can earn maximum of 6000 rupees per year and use to pay the bill of your credit card.
- Joining Fee – Rs.499
- First Year Annual Fee – Nil
- Annual Fee onward from Second Year – Rs.999
- Annual Fee Waiver – Reach customer care to avail a waiver.
Key Benefits of Manhattan Credit Card
- 5% cashback on purchase at supermarkets and departmental stores like More, Reliance fresh, Big bazar and Food bazar.
- 5x rewards when you use your credit card to pay for Hotels, Dining, Airline ticket reservation and Fuel.
- 20% cashback on Uber rides
- You can earn upto Rs. 500 as cashback every month.
- Can earn Maximum cashback per transaction is Rs.150
- Minimum transaction amount for cashback eligibility is Rs.750
Probably your goto credit card if your annual spending is moderate. For first time credit card applicants whose salary is above 6 lakh per annual, Standard Chartered Manhattan would be most valuable.
You can directly Apply for SCB Manhattan credit card by clicking here.