In India, credit cards have become one of the most widely used payment tools. In 2019, the number of credit card users in India was 52 million. It was evident that consumers were shifting towards credit cards from debit and ATM cards.
That number increased to 57.3 million in 2020 and 64 million in 2021! Credit cards offer a multitude of benefits that debit cards don’t. No matter how big a transaction you need to make, a credit card allows you to make it, unlike a debit card that has a limit on daily spending. Credit cards also offer cashback and rewards on your purchases.
With their unique reward system, you can accumulate reward points that can be redeemed for vouchers and gifts. In order to serve people better, credit card issuers have also started offering different types of credit cards. These include shopping credit cards, fuel credit cards, travel credit cards, and business credit cards, among others.
Each of these is best suited for people with a particular type of spending habit. Shopping credit cards, for instance, offer massive cashback and rewards for shopping from various offline and online stores. On the other hand, travel credit cards can help you save money on air tickets, hotel bookings, and cab rentals.
Therefore, if we look at the most-used credit cards in India, we will find a number of cards from different categories. Each one of these can benefit you massively. But to get the maximum benefits out of your credit card, make sure to analyze your spending patterns and opt for a credit card that suits you best. Here are a few credit cards you can consider.
Bajaj Finserv RBL Bank SuperCard
If you need a versatile credit card that offers the functionalities of 4 cards in 1, the Bajaj Finserv RBL Bank SuperCard should be your go-to option. The credit card is extremely popular for the rewards it offers on every purchase. These reward points can be amassed and used to make down payments for items at the Bajaj Finserv partner stores. Furthermore, you can also earn 5% cashback every time you shop at a Bajaj Finserv partner store using this co-branded credit card.
The card is also of great help when you’re facing a financial emergency. You can always get a personal loan on your cash limit at a very nominal interest rate of 1.16% per month. Taking its features into consideration, it is no wonder that the Bajaj Finserv co-brand credit card has become one of the most popular credit cards in the market.
Flipkart Axis Bank Credit Card
The Flipkart Axis Bank credit card is one of the top choices for avid online shoppers. The card offers 5% cash back on purchases made from Myntra and Flipkart. This allows you to save thousands of rupees on your purchases. The credit card further extends multiple benefits when you use it on portals and apps such as Uber, Swiggy, Tata Sky, and ClearTrip, where you can get 4% cashback for every transaction. Since all of these services are used by people on a daily basis, this card can help you save a significant amount of money every month. Additionally, even when you shop elsewhere, you are guaranteed a 1.5% cashback on both online and offline transactions.
Amazon Pay ICICI Bank Credit Card
The Amazon Pay ICICI Bank credit card is another popular credit card among shoppers. The card offers 5% cashback on all purchases made on Amazon by Prime members. This is beneficial for those who shop frequently on Amazon. Even for non-Prime members, a 3% cashback is guaranteed on all purchases. A 1% cashback is also offered on all other online and offline purchases. Furthermore, with a fuel surcharge waiver of 1% at all petrol pumps across India, the card also helps you save on your fuel spending.
American Express SmartEarn™ Credit Card
With a nominal joining fee of 495 INR, this American Express credit card is popular as an entry-level credit card. As a welcome gift, you can get a cashback of Rs. 500 on spending Rs. 10,000 or more within the first 90 days. The card offers regular reward points on every transaction. You can earn 1 reward point for every Rs. 50 that you spend. However, on all your Uber and Flipkart transactions, you can earn 10X rewards. There are also accelerated rewards for Amazon purchases.
Yatra SBI Credit Card
The Yatra SBI credit card is one of the most popular travel credit cards in India. Offered by SBI in collaboration with Yatra.com, the card can give you up to Rs. 1,000 discount on domestic flight bookings. The discount can go up to Rs. 4,000 in case of international flight bookings. Additionally, you can also get 20% off on hotel bookings on Yatra.com.
Out of the innumerable credit cards in India, these are five of the best – and most widely used credit cards. From the Amazon Pay ICICI Bank Credit Card to the Bajaj Finserv RBL Bank SuperCard – the benefits offered by these cards are superlative! Once you apply for a top-notch credit card like the Bajaj Finserv RBL Bank SuperCard, credit card processing is quick and hassle-free.