Selecting from the various credit card offers in India is never an easy task. The decision is highly subjective, depending on your spending trends. Here is a list of India’s 10 best credit cards providers. Based on generic details like rewards points, benefits, annual usage fees and interest rates and APR and user category. This list will provide the guidance you need to decide on the right credit card for you and your family.
- For salaried individuals, trends show that these three are the top favourites. Bajaj Finserv DBS Bank 7X Rewards Credit Card, Axis Bank Insta Credit Card, and the Citibank Cash back Credit Card.
- Parents and guardians have opted for the Bajaj Finserv RBL Bank SuperCard.
- People mostly prefer the Bajaj Finserv RBL Bank Platinum ShopDaily Credit Card for shopping online and at retail outlets.
- Frequent travellers have preferred using Bajaj Finserv RBL Bank Travel Easy SuperCard or. The HDFC Platinum Plus Credit Card for benefits and discounts on fuel, airfares, and airport lounges.
The list above indicates the basic categories of users and their preferred choice of cards.
To Help Narrow Down The Best Credit Cards Offers In India, Consider The Following:
Your credit rating will ultimately define the best credit card offers in India that you are eligible for. It is based on previous credit history. The general idea is that the higher your credit score. The more a credit card provider would allow for a higher spending limit. If you are new to the world of credit, you will be eligible for a low-limit card. This is the only option for a beginner. Repaying the card dues in time will gradually increase your credibility and. Thereby your eligibility for premium credit card applications in India. If you have a negative credit score (300 or less), no credit card provider will issue you a card unless you pay and clear any previous defaulted EMIs.
If you are eligible for a range of best credit cards in India, you are now in a position to take your pick, which is not always easy. One of the deciding factors should be the annual fee charged for card usage. While some credit card providers waive off the entire fee after a minimum spending amount, others charge a nominal fee with fewer reward points. Usually, cards with a high annual fee of 10,000 or more also offer more benefits, cashback options, and reward points. Factor in all these, and try to get an estimate of your projected annual card usage to figure out the best credit card for you in India.
Interest and APR Percentage
This wouldn’t be a factor if you have the habit of clearing all your credit card dues with every 30-day billing cycle. But if you plan to pay back every quarter or are unsure of your monthly income, a high-interest rate can spell an out-of-control credit due over time. For those uncertain of when or how they can pay back the dues, go for a credit card with the lowest interest rate and annual APR percentage to stay on the safe side. Unless you have a high turnover business enterprise, low-interest credit cards are the route for you.
While we can look at trending popular credit cards in India as an indicator, the right credit card for your individual needs is based on income, card interest rates, the rewards and benefits offered by the credit card provider, and ultimately the cards that your credit rating would allow.