In 2024, choosing the best rewards credit card in India can be quite a challenge. This blog post Top 21 Best Rewards Credit Cards in India for 2024 With a wide array of options offering cashback, travel benefits, and exclusive discounts, finding a card that fits your lifestyle can unlock tremendous value.
Whether you’re a frequent flyer, a shopaholic, or someone looking for everyday savings, there’s a credit card for you. This guide will walk you through the top 21 best rewards credit cards available in India for 2024, highlighting their features, benefits, and what sets them apart from the rest.
Introduction to Top 21 Best Rewards Credit Cards
Rewards credit cards are a popular financial tool in India, allowing cardholders to earn points, cashback, or miles on their purchases.
These cards are designed to incentivize spending by offering a variety of rewards, which can be redeemed for travel, merchandise, vouchers, or even statement credits.
If used smartly, a rewards credit card can be a gateway to significant savings and exclusive benefits.
How to Choose the Best Rewards Credit Card
With so many options available, choosing the best credit card boils down to understanding your spending habits. Do you spend a lot on groceries, fuel, or travel? Look for a card that aligns with your needs. Factors to consider include:
- Rewards structure: Points, cashback, or miles
- Annual fees: Some cards have high fees but provide exceptional benefits
- Partnerships and offers: Discounts with specific retailers or brands
- Interest rates: Look at the interest rates if you tend to carry a balance
- Flexibility of rewards: How easy is it to redeem rewards?
Benefits of Top 21 Best Rewards Credit Cards
A rewards credit card can offer several benefits, including:
- Cashback: Direct savings on purchases
- Travel benefits: Free flights, lounge access, and hotel discounts
- Fuel savings: Discounts or cashback on fuel
- Shopping offers: Exclusive deals with partner stores
- Lifestyle perks: Dining and entertainment discounts
These cards reward you for every rupee you spend, making your everyday purchases work for you.
Types of Top 21 Best Rewards Credit Cards
Different credit cards cater to different spending categories. Here’s a quick breakdown of the types of rewards cards available:
Cashback Cards
Cashback credit cards give a percentage of your spending back as cash, which can be used to offset future purchases or pay off your balance.
Travel Rewards Cards
If you’re a frequent traveler, travel rewards credit cards are a great choice. These cards often provide miles, free lounge access, and discounts on flights and hotels.
Shopping Cards
Shopping credit cards offer rewards when you spend at partner stores or online platforms. Many such cards are co-branded with e-commerce giants like Flipkart or Amazon.
Fuel Cards
Fuel credit cards offer savings at petrol stations, helping you save on fuel costs with cashback or points specifically redeemable for fuel.
Top 21 Best Rewards Credit Cards in India for 2024
Let’s dive into the best rewards credit cards for 2024. Each card offers unique benefits tailored to different types of spending.
1. HDFC Bank Regalia Credit Card
Known for its premium lifestyle benefits, the HDFC Regalia card offers airport lounge access, dining discounts, and reward points that can be redeemed for travel and shopping.
2. SBI Card ELITE
A premium card with global acceptance, the SBI Card ELITE offers great rewards on dining, movies, and international spending. It also provides six complimentary domestic airport lounge visits per year.
3. ICICI Bank Coral Credit Card
This card is ideal for those who enjoy shopping and dining out. ICICI Coral provides excellent rewards, including payback points that can be redeemed for merchandise or vouchers.
4. Axis Bank Magnus Credit Card
A luxury card offering high rewards on travel and premium lifestyle benefits. Magnus cardholders also enjoy unlimited lounge access at airports worldwide.
5. Citi Rewards Credit Card
Known for its excellent rewards on shopping, Citi Rewards gives 10x points on apparel and department store purchases, making it perfect for frequent shoppers.
6. American Express Membership Rewards Card
American Express is synonymous with premium services, and this card is no different. It offers excellent rewards on every purchase and exceptional customer service.
7. Standard Chartered Platinum Rewards Card
This is a no-frills card offering substantial rewards on dining and fuel. Ideal for everyday use, it’s great for those who don’t want a premium card but still want to earn points.
8. YES FIRST Preferred Credit Card
Offering a balance of rewards on everyday expenses like groceries and fuel, this card also provides access to international airport lounges and special travel deals.
9. IndusInd Bank Platinum Aura Edge Credit Card
With points on everyday spending and lifestyle benefits, this card is ideal for those looking to save on fuel and shopping.
10. Kotak Mahindra Royale Signature Credit Card
This card comes with a robust rewards program, offering travel and lifestyle perks. It’s perfect for those who seek value in both domestic and international purchases.
11. HSBC Smart Value Credit Card
This card offers cashback on online and offline shopping, fuel surcharge waivers, and special discounts on lifestyle services, making it a great all-rounder.
12. RBL Bank Platinum Delight Credit Card
A rewards-heavy card for frequent shoppers, this card gives accelerated rewards on weekends and offers points on almost every purchase.
13. IDFC FIRST Wealth Credit Card
This premium card is great for those who prefer to invest their reward points in travel and luxury experiences.
14. SBI SimplyCLICK Credit Card
Perfect for online shoppers, this card offers additional rewards for purchases made on partner websites like Amazon, BookMyShow, and more.
15. Axis Bank My Zone Credit Card
An ideal card for millennials, it offers cashback on movie tickets, discounts on dining, and access to airport lounges.
16. ICICI Bank Sapphiro Credit Card
Offering rewards on luxury experiences, travel, and dining, this card is perfect for the affluent segment looking to maximize lifestyle benefits.
17. Flipkart Axis Bank Credit Card
A must-have for regular Flipkart shoppers, this card offers cashback on purchases made on Flipkart and partner platforms like Myntra and 2GUD.
18. HDFC Bank Millennia Credit Card
Targeted at millennials, this card offers great cashback on shopping and dining. It also provides special discounts on leading e-commerce websites.
19. Amazon Pay ICICI Credit Card
This co-branded card provides cashback on Amazon purchases and offers rewards on daily spending like fuel and dining.
20. Air India SBI Signature Credit Card
For frequent flyers with Air India, this card offers miles on every purchase, free lounge access, and priority check-in, making it a valuable travel companion.
21. Bank of Baroda Premier Credit Card
Offering decent rewards on travel, shopping, and dining, this card is an affordable option for those seeking a versatile rewards program.
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Eligibility Criteria for Top 21 Best Rewards Credit Cards
While each card has its specific eligibility criteria, the general factors that most banks consider include:
- Age: Minimum 21 years old
- Income: Different cards have different income thresholds
- Credit Score: A good credit score is crucial for approval
- Documentation: Identity proof, address proof, and income proof
How to Maximize Your Rewards
To make the most of your rewards card, always ensure you use the card for its specific benefits. If you have a travel card, try to use it for bookings. Additionally:
- Pay off your balance each month to avoid interest charges
- Use co-branded cards with specific retailers or platforms
- Watch out for special reward promotions
Top 21 Best Rewards Credit Cards: Credit Card Fees and Charges
Credit cards often come with fees such as:
- Annual fee: Many premium cards charge annual fees, but they are often offset by the rewards and perks.
- Interest rates: If you don’t pay your balance in full each month, you’ll be charged interest.
- Late payment fees: Always pay on time to avoid hefty late fees.
Conclusion: Top 21 Best Rewards Credit Cards
The right rewards credit card can offer more than just convenience; it can significantly enhance your lifestyle, whether through savings on everyday purchases or luxurious travel perks. The cards listed here are among the best options for 2024, catering to various spending habits and needs. Always compare the benefits against the fees and choose a card that complements your financial goals.
FAQs About Top 21 Best Rewards Credit Cards
- Which is the best credit card for travel rewards in India? The Axis Bank Magnus and Air India SBI Signature Credit Cards are great for frequent travelers.
- Can I get a rewards credit card with a low income? Yes, several cards like the SBI SimplyCLICK and HSBC Smart Value are accessible with lower income thresholds.
- How do I redeem reward points? Most banks have a rewards catalog where you can redeem points for products, vouchers, or even cash back.
- Do rewards points expire? Yes, in many cases rewards points have an expiration date, usually between 2-3 years, depending on the card issuer.
- Is it worth paying an annual fee for a rewards card? If the rewards and benefits outweigh the annual fee, it can be worth it, especially for premium cards like HDFC Regalia or SBI Card ELITE.