Cashback Credit cards
There are several cashback credit cards available in India that offer various benefits and rewards for users. we will be discussing the best cashback credit cards in India with benefits that you should consider.
Best Cashback Credit cards
ICICI Bank Amazon Pay Credit Card
- Cashback
- Rewards
Fee
Joining Fee - Rs. 500
Annual Fee – Rs. 500
More info
- The ICICI Bank Amazon Pay Credit Card is a co-branded credit card that offers great cashback rewards to users.
- With this card, you can earn up to 5% cashback on Amazon purchases, 2% cashback on dining, fuel, and utility bills, and 1% cashback on all other spends.
- Additionally, this card offers zero annual fees and zero joining fees.
- The benefits of this card are not just limited to cashback rewards it also offers exclusive Amazon Prime membership to users.
- enjoy 15% savings on your dining bills.
Standard Chartered Super Value Titanium Credit Card
- Cashback
- Rewards
Fee
Joining Fee - Rs.100 + GST (monthly)
Annual Fee - Nil
More info
- The Standard Chartered Super Value Titanium Credit Card is another great cashback credit card that you can consider.
- This card offers up to 5% cashback on fuel, phone bills, and utility bills. Additionally, you can earn 1 reward point for every Rs. 150 spent on other purchases.
- This card comes with an annual fee of Rs. 750, but you can get a waiver on the fee if you spend more than Rs. 90,000 in a year.
- The card also comes with other benefits such as cashback on shopping, dining, and entertainment.
Premium
HDFC Bank MoneyBack Credit Card
- Cashback
- Rewards
Fee
Joining Fee - Rs. 500
Annual Fee - Rs. 500
More info
- The HDFC Bank MoneyBack Credit Card is a great option for those looking for a cashback credit card with no annual fee.
- With this card, you can earn 2 reward points for every Rs. 150 spent on the card, and you can redeem these points for cashback.
- 20 % savings off on all your restaurant bill payments via Swiggy Dineout
- Additionally, you can earn up to Rs. 500 cashback per statement cycle on your spending. This card also offers discounts on dining. shopping, and entertainment.
- 1% Fuel Surcharge waiver on fuel transactions.
Premium
Citi Cashback Credit Card
- Cashback
- Rewards
Fee
Joining Fee - Rs. 500
Annual Fee - Rs. 500
More info
- The Citi Cashback Credit Card is a great option for those who frequently dine out or use their credit card for grocery shopping.
- With this card, you can earn 5% cashback on all your dining expenses and 5% cashback on all your grocery spends.
- Additionally, you can earn 0.5% cashback on all other purchases.
- This card comes with an annual fee of Rs. 500, but it can be waived off if you spend more than Rs. 30,000 in a year.
- Up to 20% savings on dining.
Premium
SBI Simply CLICK Credit Card
- Cashback
- Rewards
Fee
Joining Fee - Rs. 500
Annual Fee - Rs. 500
More info
- The SBI SimplyCLICK Credit Card is a great option for those who do a lot of online shopping.
- With this card, you can earn 5% cashback on online shopping at Amazon, BookMyShow, Cleartrip, and others.
- Additionally, you can earn 1 reward point for every Rs. 100 spent on other purchases.
- This card comes with an annual fee of Rs. 499, but it can be waived off if you spend more than Rs. 1 lakh in a year.
Premium
What is a Cashback Credit Card?
A cashback credit card is a type of credit card that offers a percentage of the money you spend back to you in the form of cashback rewards. For example, if you spend RS.100 on groceries with a cashback credit card that offers 2% cashback, you will earn Rs.2 in cashback rewards. These rewards can be redeemed for statement credits, checks, or direct deposits into your bank account.
Types of Cashback Credit Cards
Types of Cashback Credit Cards,
Flat-rate cashback credit cards offer the same percentage of cashback rewards on all purchases. For example, a flat-rate cashback credit card may offer 1.5% cashback on all purchases, regardless of the category.
Bonus category cashback credit cards offer higher cashback rewards in specific categories. For example, a bonus category cashback credit card may offer 5% cashback on purchases at gas stations, 3% cashback on purchases at grocery stores, and 1% cashback on all other purchases.
Benefits of Cashback Credit Cards
Cashback credit cards offer several benefits to cardholders. Here are some of the most significant advantages,
- Earn rewards on everyday purchases: With a cashback credit card, you can earn rewards on purchases you make every day, such as groceries, gas, and dining out.
- Save money on interest: If you pay your credit card bill in full each month, you can avoid paying interest charges. This means you can earn cashback rewards without incurring any additional costs.
- Flexibility to redeem rewards: Cashback rewards can typically be redeemed for statement credits, checks, or direct deposits into your bank account. This gives you flexibility to use your rewards as you see fit.
- No annual fee options: Many cashback credit cards offer no annual fee, making them a cost-effective way to earn rewards.
How to Choose the Right Cashback Credit Card
When choosing a cashback credit card, there are several factors to consider,
- Cashback rate: Look for a cashback credit card with a competitive cashback rate. Consider whether you prefer a flat-rate or bonus category cashback card.
- Annual fee: Some cashback credit cards charge an annual fee. Determine whether the annual fee is worth the rewards you will earn.
- Sign-up bonus: Many cashback credit cards offer a sign-up bonus for new cardholders. Make sure you understand the requirements to earn the bonus.
- Redemption options: Look for a cashback credit card that offers a variety of redemption options, such as statement credits, checks, or direct deposits.
- Credit score: Cashback credit cards typically require good to excellent credit. Check your credit score before applying to ensure you are eligible for the card.