Credit cards are a popular way to make purchases, especially for people who don't have the money on hand to pay for an item. They're also useful for those who want to buy something but don't have enough time to save up the money before they need it--for example, if you want a new laptop and know that it will take several months of saving up before you can afford it.
The name "credit card" comes from their ability to give consumers access to credit (or borrowed funds), which allows them more flexibility when making purchases than cash would allow. Credit cards are issued by banks or other financial institutions and can be used at any location that accepts them as payment.
How Credit Cards Make Online Shopping Easier?
Credit cards have become the preferred payment method for online shopping due to their convenience, security, and additional benefits. Here's how credit cards make online shopping easier:
- Convenience: Credit cards offer a quick and straightforward payment process, requiring only card information and an OTP for verification. This eliminates the need to enter lengthy bank details or handle cash, making checkouts faster and more streamlined.
- Security: Online transactions involve sharing sensitive financial information, and credit cards provide enhanced security measures to protect cardholders from fraud and unauthorized transactions. Most credit card issuers employ robust encryption technologies and fraud detection mechanisms to safeguard user data.
- Purchase Protection: Credit cards offer purchase protection benefits that safeguard buyers in case of fraudulent transactions or product disputes. These protections can include chargebacks, dispute resolution processes, and extended warranties, providing peace of mind for online shoppers.
- Rewards and Cashback: Credit cards offer rewards programs that earn points or cashback on purchases, including online transactions. These rewards can be redeemed for various benefits, such as travel discounts, merchandise, or gift cards, adding value to online shopping.
- Budgeting and Tracking: Credit card statements provide a detailed record of online purchases, making it easier to track spending and manage finances. This transparency can help users stay within their budget and avoid overspending.
Top 7 Shopping Credit Cards in India
1. HDFC Millennia Credit Card
HDFC Millennia Credit Card comes with a joining and annual fee of ₹1,000 and is a good choice for shopping because it offers a good range of benefits, including cashback, gift vouchers, and easy EMI options. Some of its features are:
- 5% cash back on purchases made at Amazon, Flipkart, Myntra, Tata CLiQ, Uber, and Zomato
- 1% cashback on all other spends except fuel
- ₹1000 worth gift vouchers on spends of ₹1,00,000 and above in each calendar quarter
- Up to 20% discount on partner restaurants via Swiggy Dineout
- 1% fuel surcharge waiver, up to ₹250 in a month on transactions between ₹400 to ₹5,000
2. SBI Cashback Credit Card
SBI Cashback Credit Card is one of the best cashback shopping credit cards available in the market. This credit card offers unlimited cashback on your online as well as offline transactions.
- 5% cashback on all online spending with no merchant restrictions
- 1% cashback on all offline transactions
- 1% fuel surcharge waiver across all petrol pumps in India, applicable on transactions between ₹500 to ₹3,000
- Annual fee waiver on spending ₹2 lakh in the preceding year
- Accepted by over 40 million merchants worldwide, so you can use it to shop almost anywhere
3. Flipkart Axis Bank Credit Card
The Flipkart Axis Bank Credit Card is a great choice for shoppers who are looking for a card that offers a rewarding cashback program, welcome benefits, preferred partner benefits, wide acceptance, and a low annual fee. If you are a frequent Flipkart shopper, this card is definitely worth considering.
- 5% cashback on Flipkart
- 4% cashback on shopping with other preferred merchants
- 1.5% cashback across all other categories
- ₹600 worth of joining and activation benefits from Flipkart and Swiggy
- 4 complimentary domestic lounge visits every year
- 15% discount on dining at 10,000+ partner restaurants under Axis Bank Dining Delights
- 1% fuel surcharge waiver for transactions worth ₹400 to ₹4,000
4. Standard Chartered Digi Smart Credit Card
The Standard Chartered DigiSmart Credit Card is a great option for shoppers who want to earn cashback on their online and offline purchases. It offers a variety of benefits, including:
- 20% off at Myntra with no minimum spend
- 10% off on Grofers and Zomato
- Buy One, Get One movie ticket free at INOX on Saturdays and Sundays
- 15% cashback on Ola rides
- 10% off on flight bookings on EaseMyTrip
5. Amazon Pay ICICI Credit Card
The Amazon Pay ICICI Credit Card is a good choice for frequent Amazon shoppers, especially those who are also Amazon Prime members. The card also has no annual fee, making it a very affordable option. However, it's important to note that the cashback is only earned on Amazon purchases, so if you use the card for other purchases, you won't earn any rewards.
- Lifetime free card with no annual fee
- 5% cashback on Amazon purchases for Amazon Prime members
- 3% cashback on Amazon purchases for Non-Prime members
- 2% cashback at 100+ Amazon Pay Partner merchants
- 1% back for all other payments
- No limits and no expiry date on earnings
6. SBI SimplyCLICK Credit Card
The SBI SimplyCLICK Credit Card is a good option for frequent online shoppers who want to earn rewards on their spending. The card offers a decent rewards rate on online spending, especially with partner brands, and has a low annual fee.
- 10x reward points on online spending with Apollo 24x7, BookMyShow, Cleartrip, Dominos, Eazydiner, Myntra, Netmeds, Yatra
- 5X reward points on all other online spends
- 1 reward point per ₹100 on all other spends
- Amazon gift card worth ₹500 on payment of Annual Fee of ₹499
- Contactless payments for quick and secure transactions
- Purchase protection against accidental damage and theft
7. American Express SmartEarn Credit Card
The American Express SmartEarn Credit Card is an excellent choice for frequent shoppers who want to maximize their rewards. With its attractive welcome gift, ongoing offers, and easy redemption options, this card offers great value for money.
- Accelerated Membership Rewards points when you spend on Amazon, Flipkart, Uber, and BookMyShow
- ₹500 cashback as a welcome gift on eligible spends of ₹10,000 in the first 90 days of card membership
- 10X Membership Rewards Points on your spending on Uber and Flipkart
- 5X Membership Rewards on Amazon and Paytm Wallet and get 5X rewards for every ₹50 spent
- 1 Membership Rewards Point for every ₹50 spent except for spends on fuel, insurance, cash transactions and EMI conversion at the point of sale
- 24X7 Card Related Assistance
- Zero Lost Card Liability feature
- Emergency Card Replacement and much more
With a plethora of credit cards available, selecting the right one for your online shopping needs can be a daunting task. However, by considering your spending habits, desired rewards, and cardholder benefits, you can narrow down your options and find the perfect fit.
Once you've identified your priorities, it's time to compare credit cards and select the one that best aligns with your needs.
Select by Finology provides a comprehensive comparison tool that allows you to assess various credit cards based on their key features, including rewards, fees, and interest rates. This tool simplifies the decision-making process and ensures you choose the best credit card for your online shopping.
Start comparing credit cards today and unlock the rewards and benefits of online shopping with the perfect credit card.