Credit Cards in India

Credit Cards are digital money and the most convenient way to make payments. It not only makes the payment method easier but also makes you burden free from carrying cash.

Credit Cards are mostly used to pay money when you purchase any goods or avail some service. While using a credit card you promise the card issuer to repay the spent money along with some charges most commonly with interest and some applicable taxes.

The biggest advantage of having a credit card is that you don’t have to wait for months to have something which you really want. Just a swipe and you can pay for almost anything (within your credit limit). Repayment can be done in monthly instalments. However, interest is always charged on the use, but it is only charged only after fixed time period which may be in days or months (depending on the card issuer). If you make the complete payment then, there will be no interest charged.

Many consider credit cards to be traps and misleading, but it is not true. Though credit cards come at the high-interest rate, but they are very helpful in your financial tough time.

One should know all the details before applying for a credit card. It is very important to be aware of the terms & conditions and the policies of the card which you will be using.

Top #3 Rewards Credit Cards of 2019

In India, all the top banks provide credit card facility. As such, there is a huge competition among them to provide more benefits with each card. This works in favor of the consumers, who can now avail never before benefits on the usage of their credit cards.

However, this also makes it tough for the consumers to choose a card.

Worry not, in this article, we’ll take a look at the Top 3 credit cards in India available from different banks, and offer the maximum benefits on the usage.

HDFC Platinum Plus Credit Card

This is one of the best credit cards available in India today from HDFC. One can save a lot of money one using it and by redeeming the reward points.

There is no joining and annual fee associated this credit card. And there is an add-on facility which allows you to get 3 more (additional one) credit cards for your spouses, children, and parents.

Fees and Charges:

  • No joining fees needed.
  • No annual charges.

HDFC Platinum Plus Credit Card Rewards

  1. With online payment, you get 3x reward points.
  2. With every ₹ 150 spent, you get 2x reward points.
  3. A fuel surcharge waiver of 2.5% on fuel consumption on using it on petrol pumps.
  4. The most important one you can avail up to 50 days interest-free purchase from the purchase date.
  5. No liability on you in case of losing the card, if you complain within 24 hours.

SBI Simply Click Credit Cards

SBI Simply Click is the best credit card for those who prefer shopping online in India. If you are shopping from Flipkart and Amazon every month, then this is the best credit card for you. This card offers benefits such as reward points and vouchers for online shoppers and bill payers.

Fees and charges

  • Annual fee of ₹ 500.
  • An additional renewal fee ₹ 500.

SBI Simply Click Cards Rewards

  1. Free Amazon gift vouchers worth Rs.500 on joining.
  2. 5X Reward Points on online shopping.
  3. 10X for shopping with approved partners such as Amazon, Clear-trip, Food panda, Lens kart, Fab Furnish, Ola Money, and BookMyShow.
  4. ₹2000 gift voucher if you spend ₹1 Lakh annually,
  5. Redeem of reward points provides you additional benefits.

Standard Chartered Platinum Rewards Card

Standard Chartered’s Platinum Rewards Card is one of the best rewards credit cards in India especially for salaried individuals and for the beginners as well for whom this is their first credit card. This card earns you points for fuel purchases, movie tickets and on dining outs. Standard Chartered Platinum reward card can earn you more value for your money with its reward points offering.

Fees and Charges:

  • Annual Fee ₹250
  • Annual fees can be waived off if you spent more than ₹30,000 annually.

Standard Chartered Platinum Rewards Card Rewards

  1. Offers 5 reward points for every ₹150 spent at fine-dining out.
  2. Offers 5 reward points for every ₹.150 spent on the purchase of fuel (anywhere in India)
  3. BookMyShow Voucher worth ₹250 on card setup
  4. Additional ₹250 when the first transaction is made within 30 days of card setup.
  5. You can easily get it if you are a salaried individual.

There are various benefits and advantages associated with a credit card but still, it is very important to check for all the policies, terms and conditions applicable for the one. Checking eligibility criteria and comparing from the different credit cards available in the market is an important task to do before you apply with a particular provider. Uses and priorities vary from person to person hence, the one which is best for a person may not be best for you. Hence, check according to your uses and requirements and then decide the best one for you.