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Best 8 Rewards Credit Cards in India for 2024

In India, rewards credit cards are a popular financial tool that provides users with various benefits for their spending. These cards allow you to earn points or cashback on every transaction. Furthermore, the rewards are frequently redeemable for a variety of incentives. It includes travel, shopping, or even bill credits. In this post, we will have a look at some of the finest rewards credit cards in India.

Why Choose a Rewards Credit Card?

Before diving into the list of the best rewards credit cards, it is essential to understand why these cards are worth considering. Here are some compelling reasons to have a rewards credit card:

Earn While You Spend:  You can redeem the rewards for a variety of advantages. It includes flight tickets, hotel stays, gift cards, products, and even statement credits, which can result in large savings.

Redeem for Exciting Benefits: You can also redeem the accumulated rewards for a wide range of benefits. It includes flight tickets, hotel stays, gift vouchers, merchandise, and even statement credits, providing you with significant savings.

Travel Perks: Many reward credit cards include travel-related incentives. It includes airport lounge access, free flight tickets, or travel insurance, making them perfect for frequent travellers.

Fuel Discounts: Some reward cards provide discounts and cashback on fuel purchases. Hence allowing you to save money on your monthly fuel costs.

Annual Fee Waivers: Many reward credit cards waive the yearly cost if you spend a certain amount. As a result, it becomes a good choice for credit card users.

Now, let’s take a look at some of the best rewards credit cards in India at present:

List of 8 Reward Credit Cards in India

1. SBI SimplySAVE Credit Card

The SBI SimplySAVE Credit Card is a popular entry-level credit card choice for individuals who want to earn rewards for their day-to-day spending. In addition, this card is known for its simplicity and the benefits it offers. Hence makes it a valuable addition to your wallet. Here is a closer look at the key features:

Key Features:

  • Reward Points: The SBI SimplySAVE Credit Card allows you to earn reward points on various categories of spending, including dining, groceries, movies, and more. For every eligible spend, you accumulate reward points that can be later redeemed for exciting offers and vouchers.
  • Reward Redemption: Accumulated reward points can be redeemed for a variety of options, including merchandise, gift vouchers, and statement credits, enhancing the overall value of the card.
  • Fuel Surcharge Waiver: Enjoy a fuel surcharge waiver at fuel stations across India when you use your SimplySAVE Credit Card. This can lead to significant savings on your fuel expenses.
  • Annual Fee: The card comes with an annual fee, which is generally reasonable and can often be waived off if you meet specific spending criteria. This feature makes it cost-effective.
  • Flexipay: SBI offers a Flexipay facility that allows you to convert your transactions into easy monthly instalments with attractive interest rates.
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2. IDFC FIRST Select Credit Card

The IDFC FIRST Select Credit Card is an entry-level reward credit card that offers various benefits and privileges to cardholders. Here is an overview of the key features of the IDFC FIRST Select Credit Card:

Key Features:

  • Welcome Benefit: The IDFC FIRST Select Credit Card often comes with a welcome bonus. It includes reward points, cashback, or vouchers.
  • Reward Points: Cardholders can earn reward points for every eligible transaction made using the card. These reward points can be redeemed for a range of options, such as air miles, gift vouchers, merchandise, and more.
  • Reward Redemption: Redeem your accumulated reward points for various options, including air miles, hotel stays, gift vouchers, and merchandise.
  • Dining Benefits: Enjoy discounts and offers at select fine-dining restaurants and eateries across India when you use your IDFC FIRST Select Credit Card.
  • Airport Lounge Access: Many premium credit cards, including the IDFC FIRST Select Credit Card, provide complimentary access to airport lounges in India and sometimes internationally.
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3. SBI SimplyCLICK Credit Card

The SimplyCLICK SBI Credit Card is another popular entry-level choice for individuals who want to earn rewards on their online shopping and other digital spending. This card is designed to cater to the digital lifestyle of users, offering attractive benefits and rewards. Here is a closer look at the key features of the SimplyCLICK SBI Credit Card:

Key Features:

  • Online Shopping Rewards: The primary feature of the SimplyCLICK SBI Credit Card is its focus on online shopping. It allows you to earn accelerated rewards when you shop at online partner websites across various categories, such as e-commerce, travel, food delivery, and more.
  • Milestone Rewards: The card offers additional rewards when you reach specific spending milestones, making it more rewarding the more you use it.
  • Fuel Surcharge Waiver: Enjoy a fuel surcharge waiver at fuel stations across India when you use your SimplyCLICK Credit Card. This can lead to significant savings on your fuel expenses.
  • Annual Fee: The card comes with an annual fee, which is generally reasonable and can often be waived off if you meet specific spending criteria. This feature makes it cost-effective.
  • Contactless Payments: The card is equipped with contactless payment technology, allowing for quick and secure transactions at compatible merchant terminals.
  • Flexipay: SBI offers a Flexipay facility that allows you to convert your transactions into easy monthly instalments with attractive interest rates.
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4. HDFC Bank Regalia Credit Card

The HDFC Bank Regalia Credit Card is a premium credit card that offers a host of benefits and rewards, making it an attractive choice for individuals who enjoy a luxurious lifestyle and travel frequently. Here is an overview of the key features of the HDFC Bank Regalia Credit Card:

Key Features:

  • Welcome Benefit: The HDFC Bank Regalia Credit Card often comes with an attractive welcome gift or bonus reward points when you join.
  • Reward Points: This card allows you to earn reward points for every eligible transaction, both domestically and internationally. The reward points can be redeemed for various options, including travel bookings, air miles, merchandise, and gift vouchers.
  • Reward Redemption: Redeem your reward points for a variety of options, including air miles, hotel stays, gift vouchers, and merchandise. The HDFC Bank Regalia Credit Card often provides higher redemption value for travel-related bookings.
  • Travel Benefits: The card offers exclusive travel privileges, such as discounts on air ticket bookings and hotel reservations through HDFC Bank’s travel partners. You may also receive complimentary travel insurance coverage.
  • Dining Discounts: Enjoy discounts and offers at select fine-dining restaurants across India with your Regalia Credit Card.
  • Global Acceptance: The HDFC Bank Regalia Credit Card is widely accepted both in India and abroad, making it suitable for international travel and shopping.
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5. ICICI Bank Coral Credit Card

The Axis Bank Rewards Credit Card is a popular credit card offered by Axis Bank, one of India’s leading private sector banks. This card is designed to provide cardholders with a range of rewards and benefits. Below are the key features of the Axis Bank Rewards Credit Card:

Key Features:

  • Reward Points: With the Axis Bank Rewards Credit Card, you earn reward points for every eligible transaction made using the card. These reward points can be redeemed for a variety of options, including merchandise, gift vouchers, and more.
  • Welcome Benefits: Many credit cards from Axis Bank offer welcome bonuses to new cardholders. These bonuses typically include a certain number of bonus reward points upon card activation and initial spending.
  • Dining Discounts: Some variants of the card provide attractive discounts and offers at partner restaurants and dining establishments, allowing you to enjoy savings while dining out.
  • Zero Lost Card Liability: In the event of card loss or theft, you are protected from any unauthorized transactions once you report the loss to Axis Bank.
  • EMI Conversion: Axis Bank often provides the option to convert large purchases into easy monthly instalments (EMIs) to manage your expenses better.
  • Redeemable Rewards: Accumulated reward points can be redeemed for a wide range of options, including flight and hotel bookings, merchandise, and gift vouchers from partner brands.
  • Dining Privileges: Enjoy exclusive dining discounts and offers at select restaurants across India.
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6. Axis Bank Rewards Credit Card

The Axis Bank Rewards Credit Card is a popular credit card offered by Axis Bank, one of India’s leading private sector banks. This card is designed to provide cardholders with a range of rewards and benefits. Below are the key features of the Axis Bank Rewards Credit Card:

Key Features:

  • Reward Points: With the Axis Bank Rewards Credit Card, you earn reward points for every eligible transaction made using the card. These reward points can be redeemed for a variety of options, including merchandise, gift vouchers, and more.
  • Welcome Benefits: Many credit cards from Axis Bank offer welcome bonuses to new cardholders. These bonuses typically include a certain number of bonus reward points upon card activation and initial spending.
  • Redeemable Rewards: Accumulated reward points can be redeemed for a wide range of options, including flight and hotel bookings, merchandise, and gift vouchers from partner brands.
  • Dining Privileges: Enjoy exclusive dining discounts and offers at select restaurants across India.
  • Dining Discounts: Some variants of the card provide attractive discounts and offers at partner restaurants and dining establishments, allowing you to enjoy savings while dining out.
  • Zero Lost Card Liability: In the event of card loss or theft, you are protected from any unauthorized transactions once you report the loss to Axis Bank.
  • EMI Conversion: Axis Bank often provides the option to convert large purchases into easy monthly instalments (EMIs) to manage your expenses better.
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7. IndusInd Bank Pinnacle Credit Card

The IndusInd Bank Pinnacle Credit Card is a premium credit card designed for high-net-worth individuals who seek luxury and exclusive benefits. This card offers a host of features and privileges that cater to various lifestyle needs. Below are the key features of the IndusInd Bank Pinnacle Credit Card:

Key Features:

  • Reward Points: The card offers reward points for every transaction made, which can be redeemed for a wide range of rewards, including air miles, merchandise, and more.
  • Airport Lounge Access: Cardholders can enjoy complimentary access to airport lounges in India and abroad. This feature provides a relaxing and comfortable experience while travelling.
  • Golf Privileges: Some variants of the IndusInd Pinnacle Credit Card offer access to premium golf courses in India and abroad. Cardholders can enjoy complimentary golf games or lessons.
  • Travel Benefits: This card often comes with travel-related benefits such as travel insurance, hotel discounts, and preferential foreign currency rates.
  • Dining Privileges: Enjoy special discounts and offers at partner restaurants, making dining out a more delightful experience.
  • Fuel Surcharge Waiver: Get a waiver on fuel surcharge at select fuel stations when using the Pinnacle Credit Card for fuel purchases.
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8. American Express Membership Rewards Credit Card

The American Express Membership Rewards Credit Card is a popular credit card offered by American Express. It is one of the leading financial institutions globally. This card is known for its attractive rewards program and a range of benefits. Here are the key features of the American Express Membership Rewards Credit Card:

Key Features:

  • Membership Rewards Program: Cardholders earn Membership Rewards Points for every eligible transaction made using the card. These points can be redeemed for a variety of options, including travel bookings, shopping vouchers, statement credits, and more.
  • Welcome Bonus: The welcome bonus typically includes a significant number of bonus reward points upon card activation and initial spending.
  • Redeemable Rewards: Membership Rewards Points can be redeemed for a wide range of options, including flight bookings, hotel stays, gift vouchers, and merchandise from partner brands.
  • Reward Acceleration: Some cards may offer accelerated rewards on specific categories such as dining, fuel, travel, or online shopping, allowing you to earn more points in those categories.
  • Global Acceptance: American Express credit cards are widely accepted both in India and internationally, making them suitable for international travel and online shopping.
  • Complimentary Benefits: Cardholders often enjoy complimentary benefits like airport lounge access, travel insurance, dining discounts, and more, depending on the specific card variant.

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These are presently just a few of the best rewards credit cards available in India. When choosing a rewards credit card, consider your spending habits, lifestyle, and the types of rewards you value the most. Additionally, make sure to read the terms and conditions of each card to fully understand the benefits and any associated fees.

Disclaimer: Credit card terms and conditions, benefits, and offers can change over time. It’s essential to verify the latest information directly with the credit card issuer before applying for any credit card.

More on Credit Cards:

FAQs

Are rewards credit cards worth it?

Yes, rewards credit cards can be worth it if you use them wisely. They allow you to earn rewards on your everyday expenses, which can be redeemed for various benefits, including travel, shopping, and cashback.

What is the annual fee for rewards credit cards?

The annual fee for rewards credit cards varies depending on the card and the issuing bank. Some cards may have no annual fees, while others may charge an annual fee, which is often waived if you meet a minimum spending requirement.

How do I redeem reward points?

Most credit card issuers provide online portals or mobile apps where you can redeem your rewards points. You can typically redeem them for travel bookings, merchandise, gift vouchers, or statement credits.

Can I have multiple rewards credit cards?

Yes, you can have multiple rewards credit cards to maximize your benefits. However, it’s essential to manage them responsibly and not accumulate excessive debt.

Do rewards credit cards have any income requirements?

Yes, many rewards credit cards in India have minimum income requirements, which may vary from one card to another. Make sure to check the eligibility criteria before applying for a card.

About Next What Business Research Team

The Editorial Staffs at NextWhatBusiness is a team of Business Consultants with years of experience in small and medium-scale manufacturing and service-based businesses.