Best Credit Card for Gold Purchase in India

Buying gold with a credit card has become increasingly popular in India—whether you’re purchasing jewellery for an occasion, investing in gold coins, or buying digital gold. But choosing the best credit card for gold purchase matters because not all cards offer reward points on jewellery, and many impose extra charges.

With the right credit card, you can earn cashback, get discounts at jewellery brands, convert purchases to no-cost EMIs, and reduce the overall cost of buying gold.

This guide explains everything you need to know: the best credit cards to buy gold, offers available, charges to watch out for, and how to maximise value when you use a credit card for gold purchases.

Table of Contents:

1. Best Credit Cards for Gold Purchase in India
2. Credit Card Gold Purchase Offers
3. Key Charges to Consider Before Buying Gold With a Credit Card
4. Best Way to Maximise Value When Buying Gold with a Credit Card
5. Who Should Use and Avoid a Credit Card to Buy Gold

Best Credit Cards for Gold Purchase in India

Below are the top 5 credit cards for gold purchase in India based on reward rates on jewellery spends, EMI availability, and overall value.

1. HDFC Tata Neu Infinity Credit Card

HDFC Tata Neu Infinity is a premium card ideal for high-value jewellery purchases, offering strong rewards on POS spends. Its SmartEMI feature makes large transactions manageable, while the Tata ecosystem benefits add extra convenience. Digital gold purchases do not earn rewards.

Reward Rate on Jewellery / POS

• 5% NeuCoins on non-EMI jewellery spends at Tanishq, Mia, CaratLane, Zoya
• 1.5% NeuCoins on jewellery POS transactions at non-Tata merchants

Digital Gold Eligibility

• Digital gold and gold coin purchases do not earn NeuCoins, as they fall under excluded categories.

EMI Benefits

• Eligible for SmartEMI on jewellery transactions above ₹10,000
• NeuCoins earned are reversed if the transaction is converted into SmartEMI
• SmartEMI on Tanishq: 1.5% NeuCoins earned

Interest Rates

• EMI interest typically ranges from 14–18% per annum, depending on tenure

Best For

• High-spending buyers who frequently shop at Tanishq or other Tata jewellery brands
• Users seeking a card that also provides Tata ecosystem rewards and benefits

Also, check out the complete reward structure, cashback benefits, and lifestyle perks of the Tata Neu Infinity Credit Card

2. SBI Titan Credit Card

SBI Titan is designed for jewellery shoppers at branded stores, providing easy FlexiPay EMI for transactions above ₹2,500. It rewards POS jewellery spends while excluding digital gold, making it suitable for regular buyers seeking manageable installments.

Reward Rate on Jewellery / POS

• Earn 3% value-back at Tanishq (gift vouchers, capped at ₹25,000 per quarter)
• Receive 5% cashback at Mia, CaratLane, and Zoya (capped at ₹10,000 per quarter)
• Purchases at other jewellery stores earn 6 Reward Points per ₹100, approximately 1.5% effective value

Digital Gold Eligibility

• Digital gold does not earn points

EMI Benefits

• FlexiPay EMI available for transactions above ₹2,500
• Tenure options: 3–24 months  (sometimes up to 36 months for purchases above ₹30,000)

Best For

• Users who regularly purchase branded jewellery
• Buyers looking for easy EMI options on large transactions.

3. HDFC Regalia Gold Credit Card

HDFC Regalia Gold is a premium card for lifestyle and high-value retail purchases, offering steady rewards on jewellery POS transactions. SmartEMI above ₹10,000 ensures flexibility, though digital gold does not earn points.

Reward Rate on Jewellery / POS

• Earn 4 reward points per ₹150 on jewellery purchases
• Approximate return: 1.3%, depending on redemption

Digital Gold Eligibility

• Digital gold purchases do not earn rewards.

EMI Benefits

• Eligible for SmartEMI above ₹10,000
• Interest rate: 14–18% per annum

Best For

• Buyers seeking a premium card with consistent reward accumulation
• Customers making occasional high-value jewellery purchases

Also, check the complete rewards, cashback options, and premium benefits of the HDFC Regalia Gold Credit Card

4. Amazon Pay ICICI Credit Card

Amazon Pay ICICI Credit Card is ideal for users shopping both online and offline, including jewellery POS spends. It provides flexible EMI for purchases above ₹3,000 and easy reward redemption, while digital gold is excluded.

Reward Rate on Jewellery / POS

• Earn 1% cashback or equivalent points on POS jewellery spends
• Approximate value: 0.8%–1%, varies by redemption

Digital Gold Eligibility

• Digital gold purchases do not earn rewards.

EMI Benefits

• EMI option available on transactions above ₹3,000
• Tenure: 3–12 months, interest 13–18%

Best For

• Users who shop both online and offline
• Buyers wanting flexible redemption options for rewards

5. HDFC Infinia Credit Card

HDFC Infinia is a super-premium card offering high rewards and lifestyle privileges for jewellery buyers. SmartEMI on large transactions provides convenience, though digital gold purchases do not earn points.

Reward Rate on Jewellery / POS

• Earn 5 reward points per ₹150 spent on jewellery POS transactions
• Effective value-back is 3.33% when points are redeemed for Tanishq vouchers, flights, or hotels
• This makes it one of the most rewarding cards for high-value jewellery purchases

Digital Gold Eligibility

• Digital gold purchases do not earn points

EMI Benefits

• SmartEMI eligibility for jewellery varies by merchant. Check with HDFC for specific eligibility requirements for jewellery merchants.
• If a transaction is eligible for SmartEMI, all reward points earned are reversed.
• Typical interest rates for eligible transactions range from 12–16% per annum

Best For

• High-spending buyers seeking premium lifestyle benefits
• Users who want maximum reward points on luxury transactions

Want detailed info about its benefits, rewards, and charges? Check HDFC Infinia Credit Card

Credit Card Gold Purchase Offers

Here are the top credit card gold purchase offers available across major issuers on jewellery and gold coins. These vary with brand partnerships and seasonal sales.

Credit Card	Verified Core Benefit	Important Exclusions
HDFC Tata Neu Infinity	5% NeuCoins on non-EMI spends at Tanishq, Mia, CaratLane, Zoya	Gold coins/biscuits generally don’t earn NeuCoins• Festival cashback & No-Cost EMI are seasonal, not ongoing
SBI Titan Credit Card	3% value-back at Tanishq (gift vouchers)• 5% cashback at Mia, CaratLane, Zoya	Value-back is capped monthly• “5X rewards” is not the real benefit• Festive instant discounts are not permanent
HDFC Regalia Gold	Standard 1.33% value-back (4 RP per ₹150) on all spends when redeemed via SmartBuy	No official 2–5% jewellery bonus exists• Instant discounts (2–10%) are limited-time HDFC SmartBuy offers
Amazon Pay ICICI	1% or 0% cashback on gold/digital gold (depending on product classification)	5% Prime cashback does NOT apply to gold/digital gold• Sale-season discounts are Amazon promotions, not card benefits
HDFC Infinia Credit Card	3.33% effective value-back (5 RP per ₹150) redeemable for Tanishq vouchers or travel	Tie-ups with premium jewellers are seasonal, but the high reward rate is ongoing

Key Charges to Consider Before Buying Gold With a Credit Card

Before choosing the best credit card for gold purchase, you must understand the extra charges and fees that could impact the effective cost.

1. Convenience Fee

Some jewellers charge:

• 1%–2% convenience fee on credit card transactions
• Especially common with gold coins and bullion

Always confirm with the store before paying.

2. Credit Card Charges for Gold Purchase

Most banks allow gold jewellery purchases as normal retail spending, but:

1. Gold coins and bullion may be categorised as quasi-cash or cash-equivalent
    
2. This may attract cash-advance-like fees, including:

• 2.5% withdrawal fee
• No reward points
• Higher finance charges

Check your issuer's MCC (Merchant Category Code) policy.

3. Processing Fees for EMI

EMI on gold purchases typically includes:

• 1%–2% processing fee
• Interest rate of 13%–18% per annum
• Zero-cost EMI is only available if the merchant absorbs the interest

Always compute the final effective cost before switching to EMI.

4. Interest Charges (APR)

If you do not repay the full bill:

• Interest ranges from 3.2–3.8% per month (38%–45% annually)
• One of the highest forms of debt in India

Buying gold on credit is only advisable if you can repay on time.

5. GST on Making Charges

GST on making charges remains:

• 5% GST on jewellery making charges
• This is standard across payment methods

Credit cards don’t reduce GST liability.

6. Foreign Exchange Markup (If Buying Abroad)

If buying gold internationally:

• Most cards charge 2%–3.5% forex markup
• Rewards may not justify the additional fees.

Better to buy gold domestically unless the pricing advantage is significant.

Confused about how banks calculate interest on everyday card spends? This Credit Card Interest Rates guide walks you through the process in a clear, step-by-step way.

Best Way to Maximise Value When Buying Gold with a Credit Card

To make the most out of your credit card for gold purchase, follow these optimisation strategies:

1. Buy during festive offers
Festivals like Akshaya Tritiya, Dhanteras, and Diwali offer:

• 5%–10% instant discount
• 0% making charges on select items
• Bonus reward points
• No-cost EMI

This is the best time to use your credit card.

2. Prefer High Offline Reward Rate Cards

For offline jewellery POS transactions:

• HDFC Tata Neu Infinity and HDFC Infinia give the highest reward points on jewellery spends
• SBI Titan and HDFC Regalia Gold also offer decent POS rewards (4–5 points per ₹100–150)
• Amazon Pay ICICI provides cashback on select POS spends

Using the right card ensures you earn maximum rewards on large jewellery purchases.

3. Avoid Buying Digital Gold with Credit Cards

Most of these top cards do not provide rewards for digital gold purchases:

• No reward points earned on digital gold
• No additional offers or cashback
• Third-party platform charges may still apply

It’s more cost-effective to buy digital gold via UPI or net banking rather than using a credit card.

4. Convert to EMI Only During No-Cost EMI Periods

For gold and jewellery purchases, the safest way to use EMI is through No-Cost EMI offered directly by the merchant at the point of sale.

• Post-purchase SmartEMI conversions (such as “Dial an EMI”) on cards like HDFC Tata Neu Infinity, HDFC Infinia, HDFC Regalia Gold, Amazon Pay ICICI, and SBI Titan may not always be safe or cost-effective for gold and jewellery transactions.
• Interest and fees can apply to these conversions, making them more expensive than paying upfront.
• Always check for merchant-offered No-Cost EMI options to avoid unnecessary charges.

Paying upfront remains the most cost-efficient choice if liquidity allows.

5. Use Milestone or Annual Benefits Smartly

Some premium cards reward milestone spending:

• HDFC Infinia and HDFC Tata Neu Infinity offer accelerated rewards for high annual spends
• SBI Titan can contribute to annual points accumulation
• Strategically timing jewellery purchases can help you reach milestones faster and redeem vouchers or rewards worth thousands.

6. Confirm Reward Eligibility for Jewellery Merchants

Always verify if your purchase qualifies for rewards:

• Some banks exclude bullion dealers, government mints, or small jewellers without POS terminals
• Check the Merchant Category Code (MCC) at the store.
• Ensure the purchase is classified as retail jewellery to earn points.

Being aware of eligibility ensures you don’t miss out on rewards for high-value gold transactions.

Who Should Use and Avoid a Credit Card to Buy Gold

Buying gold on a credit card is not for everyone. Here’s the simplest way to decide.

Who Should Use a Credit Card for Gold Purchase

1. Buyers With Strong Repayment Discipline
Ideal for users who pay the full outstanding every month.

2. People Planning High-Value Jewellery Purchases

Especially for:

• Weddings
• Festive seasons
• Investment jewellery

Large POS spends often unlock better reward value.

3. Users Targeting Milestone or Annual Spend Benefits
Cards like Kotak White give high-value milestone rewards.

4. Buyers Needing Short-Term EMI
If you need liquidity for 2–6 months, short EMIs help.

Who Should AVOID Using a Credit Card for Gold Purchase

1. Users Who Revolve Credit

If you carry forward balances:

• APR up to 45% negates any benefit
• Gold becomes dramatically more expensive.

2. Buyers of Gold Coins or Bullion

Many issuers treat bullion:

• As quasi-cash
• Zero reward
• Higher processing fees

Better pay through bank transfer.

3. People Looking to Buy Digital Gold

Most cards exclude it from:

• Rewards
• Cashback
• Offers

Use UPI instead.

4. Users With Low Credit Limit

High gold purchases can:

• Spike credit utilisation
• Reduce credit score
• Better use cards with higher limits.

Conclusion

Choosing the best credit card for gold purchase depends on what you’re buying (jewellery or coins), your spending pattern, and repayment discipline. Premium cards like HDFC Tata Neu Infinity, SBI Titan, HDFC Regalia Gold, Amazon Pay ICICI, and HDFC Infinia offer good value on POS jewellery transactions, while digital gold purchases typically do not earn rewards.

Understanding charges, avoiding unnecessary fees, converting to EMI only when advantageous, and redeeming rewards efficiently can help reduce the effective cost of buying gold. Use a credit card only if you have a clear repayment plan, as high-interest charges can offset all the benefits.

Also read: Can You Buy Gold Using Credit Card? This guide covers every rule, charge, and condition you need to know before making a high-value gold purchase.

FAQs

1. Which is the best credit card for gold purchase in India?
The HDFC Tata Neu Infinity and HDFC Infinia are the best for jewellery POS spends due to their high reward rates. 

2. Do credit cards offer rewards on digital gold purchases?
Most issuers do not offer reward points on digital gold. If your goal is digital gold, avoid using a credit card. Use UPI or net banking instead.

3. Are there extra charges for gold purchase on a credit card?
Yes, certain jewellers charge 1%–2% convenience fee, and some banks treat gold coins/bullion as quasi-cash, leading to additional charges. Always check the MCC category before purchasing.

4. Which is the best credit card to buy gold jewellery during weddings?
Cards like SBI Titan, HDFC Tata Neu Infinity, and HDFC Infinia are ideal for high-value wedding jewellery purchases due to their reward points and EMI benefits.

5. Do I earn reward points on gold coins?
Many issuers exclude coins and bullion from rewards. Always ask the merchant whether the MCC is “jewellery retail” to ensure eligibility.