Best Credit Card in 2024 Check it Now

India has a lot of credit cards to choose from. It’s not as easy as it sounds to find the right one for you, so we’ve put together this guide to help you make an informed decision.

First off, let’s talk about the basics and understand credit cards.

They’re plastic cards that allow you to borrow money from your bank and pay it back over time. Some people use them for convenience—they can use them like cash at any time, and they don’t have to worry about paying interest on their purchases. Others prefer them because they offer more flexibility in terms of spending limits and fees than debit cards do.

Which are the best credit cards to keep in India? Many people, especially the salaried ones ask this question. The truth is, there is no single credit card that is best suited to everybody. Every credit card is different and offers different kinds of benefits.

10 Top Credit Cards in India

CategoriesCredit Card
Best Credit Cards for Salaried Individuals1. Standard Chartered Platinum Rewards Card 2. Axis Bank Insta Credit Card 3. Citibank Cashback Credit Card
Best Credit Cards for Students1. ICICI Instant Platinum Card 2. SBI Student Plus Advantage Card
Best Credit Cards for Shopping and Online Purchases1. Standard Chartered Manhattan Credit Card 2. SBI Simply Click Credit Card 3. Citibank Cashback Credit Card
Best Credit Cards to Travel1. Indian Oil Titanium Citibank Credit Card 2. HDFC Platinum Plus Credit Card

Factors To Consider Before Opting For A Credit Card

When you’re ready to apply for the best credit card in India, there are a few factors that you’ll want to take into consideration:

  • Credit Score

First, the credit score requirements will vary depending on the type of card you’re looking for. If you’re looking for a card specifically for travel and shopping, the higher, the better—but if you don’t have much of a history of using credit cards, it might be wise to start with the one that’s easier to qualify for.

  • Fees

Second, fees can quickly add up—especially if you tend to carry a balance from month to month (which is common with cards like this). A high interest rate can also make it more difficult to pay off your balance each month, so be sure to shop around when comparing rates. Be sure to check the fees associated with your chosen card.

Some cards offer cash-back rewards or other perks that come with annual fees or interest rates. Others charge an annual fee even if there are no other fees or interest rates attached to the account itself. You’ll need to figure out what works best for you before signing up!

  • Interest Rates

Third, interest rates are typically higher, so make sure that’s an important factor when choosing your card. The interest rate you’ll pay on your new credit card will depend on how long you’ve been using it and where you live.

Most cards offer an introductory period where there are no fees or interest charges for your first few months of use, but then this changes into a regular APR (annual percentage rate). These rates vary from 0% up to 27% depending on how long you’ve had the account and where you live.

Features To Watch Out Before Applying For The Best Credit Card in India

When applying for a credit card in India, it’s a good idea to do some research on the offers and features offered by your potential credit card provider as per your use. These can be very useful in helping you to manage your finances.

1) How You Plan to Use the Card

Before applying for a credit card in India, you should first consider how you plan to use it. A credit card is a great way to build your credit history and establish yourself as an income earner. You can use a credit card for any purpose, but you should be aware of its limits before applying.

2) Annual Percentage Rates (APRs)

Another important factor is annual percentage rates (APRs). These are the interest rates charged by banks and other financial institutions on loans or credit cards.

The rate will vary depending on many factors, including how much money you want to borrow, how long it will take for you to repay this amount, and how reliable your income is at any given time (for example, if other expenses such as rent or student loans need paying every month).

3) Credit Limit

If you don’t plan on using the money on the card regularly, then there’s no need to worry about having a high credit limit.

But if you do plan on making regular purchases with it, then your credit limit must be large enough to accommodate these purchases without jeopardizing your ability to pay off the balance in full each month.

4) Rewards

When considering rewards programs, make sure they’re worth the cost. Some cards offer cash back or other perks, but those can be difficult to redeem and may not be worth the trouble if you’re just looking for extra cash back on your purchases.

5) Penalties

You should look into the penalties for missing a payment. While some credit cards have a grace period before paying a charge, others have a higher fee for any late payment. Before applying for a credit card, it’s important to know what your card will charge you in case of missed payments.

Best Credit Cards for Students

Some suitable credit card options for students are-

1. ICICI Instant Platinum Card

If your credit card score is lower, then you probably should go for an ICICI Instant Platinum Credit Card. It is best for students, non-salaried people, and housewives.

If you have a savings account with ICICI Bank then getting approval for this credit card against a fixed deposit becomes very easy.

The annual fee for this credit card is nil. You need to keep in mind that the approval rate isn’t good if you don’t have a fixed deposit with the bank.

Benefits of ICICI Instant Platinum Card

  • You get 2 PAYBACK Points for every Rs 100 spent.
  • Their Culinary Treats program offers a minimum 15% discount on dining at over 800 restaurants.
  • At you get Rs 100 off on up to 2 tickets per month.
  • If the minimum transaction of Rs 4000 is done on fuels at HPCL pumps, then you can avail 2.5% fuel surcharge waiver.
  • Earn interest on fixed deposits and have low-interest rate credit cards @ 2.49% per month.

2. SBI Student Plus Advantage Card

This card is unique because it is specially designed for customers who have availed of the SBI Education Loan. To avail of this card, you will need to have an FD with the bank.

You can use this card in India, as well as abroad in more than 24 million outlets.

Benefits of the SBI Student Plus Advantage Card

  • You earn a reward point for every transaction you make (above 100) and you can use this point to pay off your outstanding balance
  • You can attain a waiver of 2.5% on fuel across petrol pumps in India if you buy petrol from Rs. 500-3000.
  • You can also pay your utility bills from this card and attain 10X reward points.

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