Top 5 Cash Back Credit Cards in India. Credit cards are no longer just a convenient payment tool; they now offer substantial benefits, including cashback rewards, airport lounge access, and exclusive discounts. With so many options available, choosing the best cashback credit card can be overwhelming. In this article, we list the top 5 cashback credit cards in India, highlighting their key features, benefits, and eligibility criteria.
Table of Contents
What to Look for in a Cashback Credit Card?
Before Selecting a cashback credit card, consider the following factors:
- Cashback Percentage: The higher the cashback rate, the better the savings.
- Annual Fees: Compare the fees to the benefits offered.
- Spending Categories: Some cards provide more cashback on dining, fuel, or online shopping.
- Additional Perks: Features like airport lounge access and reward points.
Top 5 Cash Back Credit Cards in India
1. HDFC Bank Millennia Credit Card
- Cashback Benefits: 5% cashback on online spending (Amazon, Flipkart, etc.), 1% on other transactions.
- Annual Fee: ₹1,000 (waived on spending ₹1 lakh per year).
- Extra Perks: Airport lounge access, fuel surcharge waiver.
- HDFC Customer Support: Contact HDFC Bank Customer Care Number for assistance.
2. SBI Cashback Credit Card
- Cashback Benefits: 5% cashback on online shopping, 1% on all other spends.
- Annual Fee: ₹999 (waived on spending ₹2 lakh per year).
- Extra Perks: Contactless payments, zero liability fraud protection.
3. ICICI Amazon Pay Credit Card
- Cashback Benefits: 5% cashback on Amazon purchases (for Prime members), 2% on partner merchants.
- Annual Fee: Free for a lifetime.
- Extra Perks: Fuel surcharge waiver, no cost EMI on select purchases.
4. Axis Bank Ace Credit Card
- Cashback Benefits: 5% cashback on bill payments, 4% on Swiggy and Zomato.
- Annual Fee: ₹499 (waived on spending ₹2 lakh per year).
- Extra Perks: Complimentary airport lounge access and travel benefits.
5. Standard Chartered Super Value Titanium Card
- Cashback Benefits: 5% cashback on fuel, utility, and telecom payments.
- Annual Fee: ₹750 (waived on spending ₹90,000 per year).
- Extra Perks: Additional offers on dining and entertainment.
Comparative Analysis of Cashback Credit Cards
| Credit Card | Cashback Rate | Annual Fee | Extra Benefits |
|---|---|---|---|
| HDFC Millennia Card | Up to 5% | ₹1,000 | Airport lounge access |
| SBI Cashback Card | Up to 5% | ₹999 | Contactless payments |
| ICICI Amazon Pay Card | Up to 5% (Amazon Prime) | Free | Fuel surcharge waiver |
| Axis Bank Ace Card | Up to 5% on bills and food | ₹499 | Travel perks |
| SC Super Value Titanium | 5% on fuel, utility, telecom | ₹750 | Dining and entertainment |
Key Factors Affecting Credit Card Profitability
1. Interest Rates and Fees
- High annual fees can lose profitability unless waived through spending milestones.
- Interest rates on unpaid dues can significantly impact savings.
2. Spending Habits and Cashback Utilization
- Maximizing cashback benefits requires strategic spending.
- Selecting a card that matches spending patterns ensures higher returns.
3. Market Trends in Credit Card Usage
- Digital transactions are on the rise, increasing the importance of cashback benefits.
- Competitive offers from banks ensure continuous improvements in cashback programs.
Conclusion
Choosing the right cashback credit card can lead to substantial savings. The HDFC Millennia Credit Card, SBI Cashback Card, and ICICI Amazon Pay Credit Card offer some of the best benefits in India. Consider factors like cashback percentage, annual fees, and additional perks before making a decision.
FAQs
1. Which is the best cashback credit card in India?
The HDFC Millennia Credit Card and SBI Cashback Card offer the highest cashback benefits.
2. Do cashback credit cards offer airport lounge access?
Yes, the HDFC Millennia Card and Axis Bank Ace Card provide airport lounge access along with cashback rewards.
3. What is the annual fee for cashback credit cards?
Annual fees range from ₹0 (ICICI Amazon Pay Card) to ₹1,000 (HDFC Millennia Card), often waived on meeting spending criteria.
4. How can I contact HDFC Bank for credit card queries?
For any assistance, you can reach HDFC Bank Customer Care Number, HDFC Support Number, or HDFC Credit Card Helpline Number.
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