Different Types of Credit Cards

Created on 09 Jan 2024

Wraps up in 6 Min

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Updated on 02 Feb 2024

Credit cards have become indispensable in our daily lives, providing us with the convenience and flexibility of cashless transactions. In India, there are over ten different types of credit cards available, each designed to cater to a specific set of needs. 
From cashback to travel rewards and shopping perks, there's a credit card for everyone. To make it easier for you to choose the right one, we've compiled a comprehensive list of the top 5 credit cards in each category. Whether you're a frequent traveller looking for a credit card that offers the most airline miles, a shopaholic searching for the best rewards on your purchases, or someone looking for a credit card that offers the most cashback on everyday spending, we've got you covered. 
So, let's explore the best credit cards in India and find the perfect one for your needs!

Table of Contents

- Top 5 Cashback Credit Cards 2024
Top 5 Credit Cards for Lounge Access 
- Top 5 Rewards Credit Card
Top 5 Fuel Credit Cards
- Top 5 Credit Cards for Beginners

Different Types of Credit Cards in India 2024

The following are the top 5 credit cards in India, each designed to cater to a specific set of needs. Choose the one that best suits your lifestyle and enjoy the benefits and rewards that come with it.

Top 5 Cashback Credit Cards 2024

Credit cards offer cashback rewards for eligible purchases, which are a percentage of the purchase amount. These rewards can be redeemed as statement credits, direct deposits, or gift cards. The best cashback credit cards in India are:

Card Name

Features

Cashback Rate

SBI Cashback Credit Card

5% cashback on all online and 1% cashback on all offline spends

1% to 5%

HSBC Cashback Credit Card

10% accelerated cashback on all dining, food delivery and grocery spending and 1.5% unlimited cashback on all other spends

1.5% to 10%

Axis Bank Ace Credit Card

5% cashback on electricity, internet and gas bill payments and 4% cashback on Swiggy, Zomato and Ola

2% to 5%

HDFC Millennia Credit Card

5% Cashback on Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber and Zomato, and 1% cashback on all other spends

1% to 5%

Amazon Pay ICICI Credit Card

5% cashback for all Prime members and 3% for Non-Prime members

1% to 5%

Top 5 Credit Cards for Lounge Access

If you're a frequent traveller, you know the value of airport lounge access. It's a great way to relax before a long flight and enjoy some peace and quiet away from the hustle and bustle of the airport. Here are some of the best credit cards for lounge access:

Card Name

Lounge Access

HDFC Diners Club Black Credit Card

Unlimited domestic and international lounge access
For domestic lounges, Click Here.
For international Lounges, Click Here.

American Express Platinum Travel Credit Card

8 free airport lounge access across India, limited to two per quarter.
Click here for details.

SBI Elite Credit Card

6 free international and 2 domestic lounge access via Priority Pass.
Click here for details.

HDFC Infinia Metal Edition Credit Card

Unlimited free lounge access at airports within and outside India at 1,000+ airport lounges using Priority Pass.
View details here.

IDFC FIRST Select Credit Card

4 free visits to domestic airport lounges per quarter and 4 free visits to railway lounges.

Top 5 Rewards Credit Card

Rewards credit cards are a popular type of credit card that offers a variety of benefits to cardholders. These cards typically give you points, miles, or cashback for every dollar you spend on eligible purchases. The more you spend, the more rewards you can earn. Rewards credit cards often come with sign-up bonuses and other perks, such as travel insurance, purchase protection, and extended warranties.

Card Name

Reward Rate

HDFC Diners Club Black Metal Edition Credit Card

3.3% to 33%

SBI Prime Card

0.5% to 5%

SBI Elite Credit Card

0.5% to 2.5%

Axis Bank Rewards Credit Card

0.3% to 3.3%

American Express Membership Rewards Credit Card

Up to 5%

Top 5 Fuel Credit Cards

Fuel credit cards are a great way to save money on your everyday expenses. These credit cards offer cashback, reward points or discounts on fuel purchases made at petrol pumps. Fuel credit cards are especially beneficial for individuals who commute long distances every day or own a vehicle for commercial purposes. Here are some of the best fuel credit cards in India:

Card Name

Fuel Benefits

Indian Oil HDFC Bank Credit Card

- Free IndianOil XTRAREWARDS Program membership
- 50 litres of Free fuel annually 
- Earn 5% of your spending as Fuel Points at IndianOil outlets                                   
- Earn 5% of your spending as Fuel Points on Groceries and Bill Payments 

BPCL SBI Octane Credit Card

- 7.25% Value Back- 25x Reward Points on fuel purchases at BPCL petrol pumps
- 25 Reward Points on every ₹100 spent at BPCL Fuel, Lubricants & Bharat Gas

IDFC FIRST Power+ Credit Card

- Up to 6.5% savings on your fuel expenses
- 5% savings as Rewards on Grocery & Utility expenses
- ₹500 cashback on 1st HPCL fuel transaction

Indian Oil Axis Bank Credit Card

- Earn 100% cashback on fuel up to ₹250 as a welcome bonus
- 4% value back on IOCL petrol pumps 

Indian Oil Citi Credit Card

4 Turbo points per ₹150 spent & 1% fuel surcharge reversal

Top 5 Credit Cards for Beginners

Credit cards can be a great financial tool for beginners who are looking to build their credit history. While credit cards can offer many benefits, it's important to choose the right one that suits your needs and budget. Here are some of the best credit cards for beginners in India:

Card Name

Features

Joining and Annual Fee

SBI SimplyCLICK Credit Card

- 10X Reward Points on online spending with Apollo 24x7/BookMyShow/ Cleartrip/ Dominos/ Myntra/ Netmeds/ Swiggy/ Yatra
- 5X Reward Points on all other online spends

₹499


 

Amazon Pay ICICI Credit Card

- 5% cashback for Amazon Prime Members
- 3% cashback for Non-Prime Members

Lifetime Free

HDFC Moneyback Plus Credit Card

- 10x CashPoints on Amazon, BigBasket, Flipkart, Reliance Smart SuperStore & Swiggy
- 5X CashPoints on EMI spends
- 20% discount on partner restaurants via Swiggy Dineout

₹500

IDFC FIRST WOW Credit Card

- 4x Reward Points
- 7.5% interest on FD
- Up to 100% withdrawal limit of your FD Value

Lifetime Free

Axis Bank Neo Credit Card

- 40% off at food delivery on Zomato
- 5% off on mobile recharges via Amazon Pay
- 10% off on Myntra
- 10% off on Blinkit

₹250

Conclusion

As the market continues to evolve, choosing the right credit card that fits our lifestyle and budget may become increasingly challenging. However, in this blog post, we have discussed the top 5 credit cards in India category-wise, highlighting their unique features and benefits. These credit cards offer a range of benefits, from earning rewards and cashback on daily expenses to getting fuel savings and 100% cashback on fuel transactions. By selecting a credit card that aligns with your lifestyle and spending habits, you can be well-prepared for any future expenses, ensuring responsible and timely credit card usage that can contribute to building a good credit score and financial stability. So keep yourself informed and choose wisely to make the most out of your credit card experience.