Credit card can serve as a great tool for managing your finances. They are useful in building your credit rating, making big purchases without worrying about handling large cash, and always have support in case of any emergency.
Expert Review of Best Credit Cards: There are 41 private and public-sector banks in our country and each one of them offers at least 5 credit cards. Now you don’t need a calculator to understand that there are more than 200 credit cards available. Choosing a wrong credit card could dent your wallet. That small difference in per cent of interest rate on paper could cost you thousands of rupees each year. If you have made the decision of getting yourself a credit card then there are so many things to consider such as APR, Interest Rate, Balance Transfer fee etc. But, you don’t need to freak out. Our team of experts went through this herd of credit cards and narrowed down the list to 10.
Best Credit Cards of 2018
Since, you need only one card not 10, you will have to single out the best credit card that suits your profile on the basis of three factors.
• Low annual fees
• Low interest rates
• Awards (Cashbacks, Reward points, Exclusive benefits etc.)
So, we suggest you to have a glance at all of these 10 cards and choose the one which caters to most of your needs. Every card has some specialty and some drawbacks. You have to figure out which combination serves you the best.
1. Standard Chartered Platinum Rewards Card
The card is not much popular but for sure has the best benefits. The biggest one is that you will get 20% cashback on Uber rides, thus, if you are living in Delhi, Mumbai, or Bangalore then you may save up to 600 rupees every month in surfing through the city in Uber. Another great benefit is that you will earn 5 points on spending 150 rupees on dining and fuel. One point is awarded for spending 150 rupees on anything else.
Coming to the fees, there is no joining fee and no annual charge. Salaried employees have greater chances of acceptance.
2. ICICI Bank Instant Platinum Credit Card
ICICI is a name in the market and has kept on its promises. The benefits of this card are that you will get a 100 rupees discount on up to 2 movie tickets per month at Bookmyshow.com. You can also save 15% on dining at over 800 restaurants across India. Moreover, you will get 2 payback reward points whenever you spend 100 rupees.
There are no joining and annual fees. This card is a good option for students, housewives and non-salaried persons.
3. Citibank Rewards Credit Card
Going by the name, it’s obvious that it is good at offering reward points. The benefits are that you will get 10 reward points for every 125 rupees spent on apparel and departmental stores and these points can be used to pay at 700+ outlets & online shopping. 1 reward point is awarded on spending 125 rupees. The card allows you to avail 0.75% fuel surcharge waiver on fuel purchases. The card is an international credit card so you can use it for international transactions as well.
Just like above cards there is no joining fee and has an annual fee waiver on spending more than 30,000 rupees annually.
4. Standard Chartered Manhattan Credit Card
Standard Chartered has affiliation with Uber, so you will definitely get the 20% cashback on all your rides. The biggest feature of this card is that you will get 5% cashback on grocery shopping; no other card in India has this offer. 1000 additional reward points on transacting within 60 days and 500 bonus points on registering for online booking. Thrice the reward points on using credit card to pay for Hotels, Dining, Airline ticket reservation and fuel. Special discount offers on Puma, FirstCry, BigBasket, BlueStone, Abof, and UrbanClap.
The joining fee is 499 rupees (waive off by spending 30,000 rupees) and annual fee is 999 from second year and that can be waived off on spending 60,000 rupees in a year.
5. Citibank Cashback Credit Card
This is an entry level credit card from Citibank and useful for those who have a salary account with Citibank. The key benefits are that you will get 5% cashback on movie tickets, 5% cashback on paying your bills, 5% cashback on utility bill payments and 0.5% cashback on every other spend.
The annual fee is 500 rupees but it can’t be waived off. This card is best for those who are looking for a decent card for their daily shopping needs.
6. HDFC Regalia Credit Card
This card comes as personal and business credit card both. There is no difference in the benefits just that they both require different set of paperwork. The card has only 2% foreign transaction fee while other cards have 3.5% fee. You will get complimentary lounge access through Priority Pass Membership, complimentary club Vistara Silver membership, 4 points on expenditure of 150 rupees, and 1% fuel surcharge waive off on fuel.
The card has an annual fee of 2,500 rupees which can be waived off by spending 40,000 rupees within first 90 days. The card is best for those who are willing to keep their personal and business transactions separate.
7. SBI SimplyClick Credit Card
This credit card from State Bank of India is another entry level credit card and has great rewards on shopping online. You will get 10 times the rewards on Amazon, Foodpanda, Bookmyshow, Ola, Cleartrip, Fabfurnish, Zoomcar, Lenskart, and 5 times rewards on shopping from any other site. Get one 1 reward point on spending every 100 rupees. If your fuel payment exceeds 500 rupees you get 2.5% fuel surcharge. Spend 1 lakh rupees by your credit card and you can get a Cleartrip e-voucher worth 2,000 rupees. You will also get a bonus e-gift voucher of 500 rupees from Amazon.
Now, the annual fee is 499 rupees which gets reversed if you spend 1 lakh rupees in first year. This is best for those who shop a lot online.
A piece of advice
Some tips: Please make sure you live in their serviceable area before applying for the card as too many rejections can lower your CIBIL score. If you give your landline number then your application will get accepted easily.
Owning a credit card can be beneficial if you use it wisely. You have to watch your behavior and never spend more than the limit.
There are many credit cards and it gets confusing to choose one for you. Primarily, you should choose the card based on your repayment behavior and then on the basis of your needs.
If you don’t find your desired credit card then comment your requirement, benefits you are after and monthly spending limit. We will offer you personalized suggestion.
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