you can't deny the importance of a credit card, especially if you're a working individual.
your credit card is a friend who manages your monthly expenses smartly. it's a buddy who lends you money when you are short.
more than anything, it is a well-wisher who showers special privileges and free goodies every so often.
there's been a spike in credit card users in India lately. however, getting a credit card can be overwhelming for salaried individuals because of the sheer number of options available in the market.
we list 11 popular credit cards so that by the end of this article, you can choose one that best suits your needs. let's get straight into it.
1. American Express Membership Reward credit card
for most salaried individuals, Amex is an aspirational card. to avail of this card, you need to have an income of at least ₹6 lakhs per annum.
if you get the card using a referral link, the joining fee of ₹1,000 is waived off. the annual fee is ₹1,500 from the second year, which you won't have to pay if you spend more than ₹1,50,000. if your expenditure exceeds ₹90,000, the fee gets slashed to ₹750.
if you get the card from the bank, the renewal fee is nil if you spend more than ₹1,50,000 and ₹2,250 if you spend more than ₹90,000 in a year. otherwise, you will have to pay ₹4,500.
here are the credit card benefits:
2. HDFC Bank Regalia credit card
you can get this popular credit card if you have a minimum annual income of ₹12 lakh.
this card comes with a joining and renewal fee of ₹2,500. however, it compensates you by giving 2,500 reward points worth ₹1,250. there is no renewal fee if you spend at least ₹3 lakhs in a year.
let's go through its benefits very briefly:
make your HDFC credit card payment via CRED to earn additional rewards.
3. SBI SimplyClick credit card
this card is your best bet if you are a frequent online shopper.
to get this card, you need to have a monthly income of at least ₹30,000 per month. plus, you're exempt from the joining and renewal fee of ₹500 if you spend ₹1 lakh in a year.
here's what else the card has to offer you:
make your SBI credit card payment via CRED to earn additional rewards.
4. SBI Prime credit card
the card comes with a joining and renewal fee of ₹3,000 per year. however, it also gives you a welcome gift of the same amount. most notably, the renewal fee is nil if you spend ₹3 lakh in a year. the reward points structure consists of three types of reward points - regular, milestone, and accelerated. here is how they work.
5. HSBC Visa Platinum Credit Card
Get a lock on your expenses with a credit card that doesn't require a joining or renewal fee. Moreover, you get a voucher worth ?2000 on the first transaction. Let's look at the other features and benefits of this popular card.
make your HSBC credit card payment via CRED to earn additional rewards.
6. IndianOil Citi Platinum credit card
while you can't ditch your fuel costs entirely, this card helps you optimize your spends. the only rider is to visit an IndianOil fuel station. this card gets you 5% returns on your fuel spends: 2.5% surcharge waiver and 2.5% cashback.
make your Citibank credit card payment via CRED to earn additional rewards.
7. ICICI Amazon Pay credit card
if you rely on Amazon extensively for your shopping, this card is perfect for you. prime members can enjoy even more benefits, and it comes without an annual or renewal fee.
here's a quick look at the card's other features.
make your ICICI Bank credit card payment via CRED to earn additional rewards.
8. Citibank Cashback credit card
if you are not the one to track reward points, here is the best alternative for you. this Citibank credit card gives direct cashback for all your expenses.
9. Axis Bank Insta credit card
if you love the feeling of using a secured credit card on your travels, this card gives you good benefits and even ends up building a good credit score. here are some features of this card that are worthy of discussion.
make your Axis Bank credit card payment via CRED to earn additional rewards.
10. Citibank PremierMiles credit card
this card is a dream come true for travelers as the miles never expire. it comes at an annual fee of ₹3,000 and gives you a welcome gift of 10,000 miles. for every subsequent renewal of your card, you get 3,000 miles.
let's look at the features of this card.
11. Standard Chartered Manhattan Platinum credit card
if you work in a metro city and feel compelled to spend in supermarkets, here is a card worth considering. at a joining fee of ₹499, it's easy on your pocket.
moreover, this fee gets waived off if you spend ₹30,000 in the first year. similarly, your renewal fee is eliminated if you spend ₹60,000 in a year.
here are the features of this card.
make your SCB credit card payment via CRED to earn additional rewards.
as you're growing more and more independent with a career, it only makes sense to instill some financial responsibility in your life.
with a good credit card, you can not only manage your expenses well but also save more money. with the options given above, you will be well informed to make the right decision.