Top 10 Credit Cards in India – India has a very vibrant credit cards network and with the growth in debit cards and mobile wallets, there is a lot of innovation that is also happening in the credit cards product space to catch up with the increased competition.
Before we get into our list of top 10 credit cards in India, it might be wise to share the methodology we have used to come up with this list. Also check out our list of best cards in India in 2015.
How to choose the best credit cards
- Credit cards that are best for shopping – either shopping in general and/or online specifically. Given that most of us use our credit cards for shopping including grabbing all those exciting deals at Myntra, Jabong, Flipkart etc. The typical benefits one gets for shopping using a credit card could vary from cash-back to higher reward points or exclusive tie-ups that the bank (issuer of the credit card) has with the store or ecommerce portal.
- Annual Fees – while most cards do not have an annual fees, a few do charge an annual fees. This adds to the overall cost of using a credit card. We are not saying that stay away from all cards that have an annual fees. What we want to highlight is that if the benefits of the cards are not higher than the annual fees levied on it, might be smarter to go for a no-annual-fees-card.
- Interest Rates – Credit card companies charge an interest for delayed payment of the dues. If you pay your complete dues in full, no interest would be levied. However while choosing a credit card, pay due consideration to the interest rates that would be applicable. These could vary anywhere from 1.2% to 4% per month.
Here’s our list of top credit cards in India as of 2016 and our rationale behind why this card made it to the list.
- IRCTC SBI Credit Card
- Citibank Indian Oil Titanium Card
- American Express Platinum Credit Card
- SBI Yatra Credit Card
- ICICI Bank Jet Airways Rubyx Credit Card. Featured as one of the best credit card for frequent flyers in India, this cobranded card comes with a welcome gift of 5000 JP miles, and 2500 JP Miles for every annual renewal of the card. Frequent flyers of Jet Airways can also convert their reward points from other spends into JP Miles and hence use the same for upgrades or free ticket(s). Annual fees on the card: Rs 2500/-.
- HDFC Bank Solitaire Credit Card
- Jet Airways American Express Platinum Card
- HDFC Regalia Credit Card
- Standard Chartered Platinum Rewards Card
- Citibank Rewards Credit Card
Bonus: Whichever card you have, chances are there are multiple offers that are available to you courtesy your bank or VISA/MasterCard. Download the mTuzo App and ensure that you stay on top of these offers, the smart way.