Best Credit Cards for Reward Points

If you've ever daydreamed about basking in a tropical paradise, sipping on a mango-infused cocktail, while a family of dolphins performs an epic synchronised dance just for you - all courtesy of your credit card reward points - then welcome to the quirkier side of the financial realm! 

Tell us, do you love getting rewarded for spending money? If yes, then you might want to consider getting a credit card offering reward points on every purchase you make. 

Reward points are a type of incentive that credit card issuers give to their customers to encourage them to use their cards more often. You can redeem these points for various benefits, such as cash back, gift cards, travel vouchers, merchandise, and more.

But with so many credit cards offering reward points in the market, how do you choose the best one for yourself? Well, that’s where we come in. We have researched for you and compiled a list of the best credit cards for reward points. These cards offer generous rewards on different categories of spending, such as dining, groceries, online shopping, travel, and more. They also come with other perks, such as welcome bonuses, annual fee waivers, lounge access, and more.

So, without further ado, let’s take a look at the best credit cards for reward points in 2023:

Best Credit Cards for Reward Points

1. IDFC FIRST Bank Select Credit Card

If you are looking for a lifetime free credit card that offers unlimited rewards and benefits, you might want to consider the IDFC FIRST Select Credit Card. This card lets you earn 10x reward points on purchases above ₹25,000 per billing cycle. With this card, you can also enjoy lounge access, movie discounts, insurance benefits, and more.

Features

Welcome Bonus	Welcome gift vouchers of ₹500 once you spend ₹15,000 within the first 90 days of issuing your card. A 5% cashback is given on the first EMI transaction if performed within the first 90 days of setting up your card.
Fuel Surcharge Waiver	Get a 1% surcharge waiver on fuel transactions with the maximum discount capped at ₹300.
Travel Benefits	4 complimentary lounge visits per quarter at selected domestic airports across India and 4 complimentary railway lounge access every quarter. Complimentary roadside assistance worth ₹1,399.
Insurance Benefits	Air Accident Cover: ₹1 Crore Travel: ₹22,500  Accident Cover: ₹5,00,000 Lost Card Liability: ₹50,000
Dining Benefits	Up to 20% off at more than 1,500 restaurants.
Entertainment Benefits	Buy one get one offer on movie tickets up to ₹250 on the PayTM mobile app twice a month.
Reward Benefits	Get 10X reward points on spending over ₹25,000. Get  10X reward points on transactions made on your birthday. Get 6X reward points on your online purchases. Get 3X reward points on every offline purchase. Get 1 reward point every time you spend ₹100. *Each reward point is worth ₹0.25.

Fees and Charges

Joining Fees	Free
Annual Fees	Free
Annual Percentage Rate	42.00%
Foreign Transaction Fees	1.99%

Eligibility

Applicant’s age should be at least 21 years, and they must have a decent monthly income.

2. SBI SimplyClick Credit Card

The SBI SimplyCLICK Credit Card is an excellent choice for online shoppers who want to earn rewards and benefits on their purchases. This card offers a welcome e-gift card worth ₹500 from Amazon, 10X reward points on online spending with exclusive partners like Apollo 24X7, BookMyShow, Cleartrip, Eazydiner Netmeds, and much more.

Features

Welcome Bonus	An Amazon gift voucher worth ₹500 upon joining. The gift voucher is valid for 12 months from the date of purchase.
Fuel Surcharge Waiver	1% fuel surcharge waiver for each transaction between ₹500 and ₹3000 (max benefit of ₹100 per month).
Reward Benefits	1 Reward Point for every ₹100 spent on offline purchases. 10X reward points on online purchases at partner merchants (BookMyShow, Apollo 24x7, etc.).  5X reward points on other online purchases.
Milestone Benefits	E-voucher worth ₹2,000 from ClearTrip on achieving annual spends of ₹1 lakh with the card. Another e-voucher worth ₹2,000 from ClearTrip on achieving annual spends of ₹2 lakh with the card. If the cardholder spent at least ₹1 lakh in the previous year, the renewal membership cost is waived off.

Fees and Charges

Joining Fees	₹499
Annual Fees	₹499
Annual Percentage Rate	42.00%
Foreign Transaction Fees	3.50%

Eligibility

Applicant’s age should be between 18 to 65 years, and their monthly income should be at least ₹20,000.

3. American Express Membership Rewards Credit Card

The American Express Membership Rewards Credit Card is a credit card that grants you several advantages across the spectrum of dining, travel, shopping, and other activities. This card is intended to reward you with exclusive benefits and privileges for each transaction you make.

Features

Welcome Bonus	Get 4,000 bonus membership reward points on settling the joining fee and spending ₹15,000 within the first 90 days of the card issuance.
Dining Benefits	Get upto 20% on dining at partner restaurants.
Reward Benefits	Earn 1,000 bonus membership rewards points for using your card 4 times on transactions of ₹1,500 or above in a calendar month. Earn an additional 1,000 membership rewards points by spending ₹20,000 or more in a calendar month.  Earn 5,000 membership rewards points upon first-year card renewal.
Fuel Benefits	0% convenience fee on fuel purchases at HPCL for transactions less than ₹5,000 A 1% convenience fee on fuel purchases per transaction is applicable for all transactions of ₹5,000 and above.

Fees and Charges

Joining Fees	₹1,000
Annual Fees	₹4,500
Annual Percentage Rate	42.00%
Foreign Transaction Fees	3.50%

Eligibility

The applicant’s age should be at least 21 years.

• The monthly income of the salaried applicants should be at least ₹50,000.
• The ITR of the self-employed should be at least ₹6 lakhs.

4. RBL Bank Shoprite Credit Card 

 

The RBL Bank Shoprite Credit Card is a card that offers you rewards and discounts on your purchases, especially on groceries and fuel. With this card, you can get a welcome gift of 2,000 reward points, earn 20 reward points for every ₹100 spent on grocery shopping, enjoy a 10% discount on movie tickets at BookMyShow, and much more.

Features

Welcome rewards	2,000 bonus reward points are given in the form of welcome benefits.
Reward Benefits	Get 1 reward point for every ₹100 you spend on all your purchases except fuel. Get 20 Reward Points for every ₹100 you spend on groceries using this card.  (The maximum benefit is capped at 1000 reward points for a month).
Fuel Surcharge Waiver	All fuel transactions between ₹400 and ₹5,000 at all petrol stations are exempt from the 1% fuel surcharge up to a maximum waiver of ₹100 per month.
Movie benefits	Get a 10% discount (up to ₹100) on movie tickets at BookMyShow 15 times a year.

Fees and Charges

Joining Fees	₹500
Annual Fees	₹500
Annual Percentage Rate	47.88%
Foreign Currency Markup	3.50%

Eligibility

Applicant’s age should be at least 18 years, and they must have a decent monthly income.

5. HDFC Bank Diners Club Premium Credit Card

The HDFC Bank Diners Club Premium Credit Card is a card that offers you a range of lifestyle and travel benefits. With this card, you earn 4 reward points for every ₹150 you spend and redeem them for air miles and hotel bookings, and you also get to enjoy up to 6 complimentary access to 1000+ lounges worldwide per calendar year. This was just a sneak peek of the offers this card gives you.

Features

Welcome Bonus	Get 2,500 reward points.
Travel Benefits	Get up to 6 Complimentary access to 1000+ lounges Worldwide You can convert reward points to miles on Jet Airways, Air India and Singapore Airlines (1 reward point = 0.50 air miles)
Reward Benefits	Earn 4 reward points for every ₹150 you spend For flight and hotel bookings, Diners Privilege/ Diners ClubMiles/ Diners Premium/ Diners Rewardz card members can redeem up to a maximum of 70% of booking value through Reward Points.
Insurance Benefits	₹1 crore air accident insurance ₹25 lakh medical emergency insurance ₹50,000 travel insurance for baggage delay/loss ₹9 lakh credit liability cover.

Fees and Charges

Joining Fees	₹2,500
Annual Fees	₹2,500
Annual Percentage Rate	43.20%
Foreign Currency Markup	2.0%

Eligibility

• If the applicant is self-employed, they must be aged between 21 and 65 years and have a minimum annual income of ₹7.2 lakh. 
• Whereas if the applicant is a salaried individual, they must be aged between 21 and 60 years and have a minimum monthly income of ₹60,000.

Conclusion

These are some of the best credit cards for reward points that you can consider applying for. Now, it's time to turn those delightful daydreams into reality. Discover the best credit cards for reward points that align with your passions and lifestyle on Select by Finology. Unleash the power of your points and transform everyday spending into extraordinary experiences!

So, whether you're an adventurer, a foodie, an explorer, or a dreamer, there's a perfect credit card waiting for you. Take advantage of the opportunity to paint your world in brilliant hues with fantastic rewards. Compare and apply for the cards that suit you best on Select by Finology, and let the points palooza begin!

Remember, each swipe brings you closer to that dreamy tropical getaway or that exhilarating adventure you've longed for. Your credit card can become your trusty companion on this journey, so embark on the quest to maximise your rewards now!
Happy points hunting, and may your credit card adventures be filled with magic, delight, and unforgettable moments!