Are you looking to increase your credit score or do you still don’t have any score? To be honest, you’re not alone. I am going to cover up all about the credit cards available in India for you. Credit Cards aren’t some fancy financial instruments to have, they give you stability and help you save some amount of money for using them effectively.
Indeed, it is not your money and is a type of unsecured loan provided to you by the bank but they provide you many benefits to use them. If you know how to properly use credit cards then you’ve nothing to worry about.
However, if you don’t know how to use actually use them then you might end up in the solid trap. Let me tell you the disadvantages of Credit Cards if you default on the bills and so on.
- Very High Interest Rate charged by most of the banks typically ranging from 35-45%
- Impact your credit score severely such that you can’t get a loan in future or even though if you get you will attract much higher interest rates.
- You have to use it for personal use. Any commercial use might lead to cancellation of your card immediately.
The Best Credit Cards In India
This list, however, is a personal opinion but let me tell you that the list is personally curated after researching about the benefits each one of the cards provides. You can easily go through them and pick the one you’re most suitable with. For those of you without any score, I have also listed down the FD Secured Credit Cards as well as Unsecured Credit Card that might be worth applying to see if they issue for you even without any score. I personally tested that card which issued the card even without any score.
If you don’t know how to check your CIBIL score, then there is this wonderful application made by FPL Technologies that let you check your Experian as well as CIBIL Score. Download Now.
Let’s get into the list and find out which credit cards are best.
#1 – ICICI Amazon Pay Credit Card
This card is for the one who regularly shops on Amazon for their daily needs or essentials as well as pay bills and much more. Apart from this, this card comes with a ZERO annual fee and is best suited for Shopping.
It provides you with 1% cashback on all transactions other than Amazon, which is quite good compared to rest of the credit card which gives similar cashback but attracts a huge annual fee.
Those who actively shop on Amazon can get a cashback of 3% (Non-Prime) and 5% (Prime) respectively and this is a very good deal, to be honest.
If you switch to Amazon Pay for recharges, bill payments and so on, you will be able to get 2% Cashback.
The application process is also pretty convenient. All you have to do is apply it online without any hassles of documents. The Video KYC will be done online, all you need is a mobile phone and your necessary documents like PAN & Aadhar.
#2 – Slice, Not Credit Card (Best for No or Low Score)
Slice is yet another Credit Card like Super Card but not exactly the Credit Card. It is Credit Line and will show as a Consumer/Personal Loan on your CIBIL and it is how exactly good for beginners with little or no score. They have higher chances of approving this card for the College Students since you will have to provide your college details as well.
The card is approved within 24-48 hours of application and I tested it myself on 2 different college-going students getting their card with literally No Score at all with a limit of 10,000 but it might vary for you.
If you’re one of them falling in the same category then go for this card. Repay the bill on time and wait for another year to get your good score with good credit history.
Why Slice Super Card?
- Slice your monthly bill into 3 EMI without any charges or interest
- No Annual Fee, Joining Fee and Hidden Charges
- Get good deals with merchant partners
- No Credit Score Required. Age Limit: 18+
#3 – OneCard – India’s First Metal Card
This is another great card to go off with. I really like the idea of points in this card. I have reviewed this card in-depth on my other blog. You can read it here.
OneCard is a credit card offered in collaboration with IDFC First Bank. The card is sleek and is made of metal. The best thing about this card is that it gives you the actual feeling of owning a Black Card (Mastercard Black Card). The only thing I like about this card is 5x Reward Points on top spends and its metal.
Why OneCard Credit Card?
- Easy Applying Process, under 5 minutes
- 5X Reward Points on Top Spend & 1x Reward Points on Regular Transactions
- No Joining Fee, No Annual Fee and No Rewards Redemption Fee
- Reward Points Never Expire
- Slide To Pay
- OneCard EMI Conversion (Low Interest Rate)
#4 – HDFC Millennia Credit Card
It is one of the cards made for Millennials and is a cashback card. It is offered by one of the leading banks in India, HDFC Bank. No wonder, they have strict guidelines when approving Credit Cards, however, if you have an account with them then you will get it approved easily considering that you have good credit history and score.
They also provide you with a completely online process however, you will need to furnish the details like ITR for self-employed and salary slip if you’re salaried.
If you have a decent score then you can easily get this card. Why HDFC Millennia Credit Card?
- 5% CashBack on Amazon, Flipkart, Flight & Hotel bookings on shopping via PayZapp and SmartBuy (minimum transaction size of ₹2000, Max ₹1000 CashBack per calendar month in first 6 months, Max ₹ 750 CashBack post 6 months from card issuance)
- 2.5% Cashback on all online spends upto ₹750 per month and minimum transaction should be of ₹2000
- 1% Cashback on all offline spends upto ₹750 per month and minimum transaction should be of ₹100
- 8 Complimentary Domestic Lounge access in a year (2 per quarter)
- Joining/Renewal Membership Fee is ₹1000 per year and is waived on spend of ₹1,00,000
#5 – Axis ACE Credit Card
One of the card that offers no upper limit on cashback earned, yes and that’s unlimited cashback. This card can be used for paying your bills and get 5% cashback on DTH, Electricity, Gas, Internet and more on Google Pay. While if you’re a foodie, you get 4% cashback on Zomato, Swiggy & also OLA while 2% for all the other spends.
It is a regular plastic VISA credit card offered by the Axis Bank in collaboration with Google Pay. Why Axis ACE Credit Card?
- Unlimited Cashback
- Complimentary Lounge Acess
- Joining Fee of Rs 499 which is revered if you spend 10,000 within 45 days of card issuance while from 2nd year onwards it is waived if you spend Rs 2,00,000
I hope you got an idea about these card. This article is targets usually those who are new to the credit cards and those who are old enough to spend a lot on credit card they might not find these picks interesting at all. However, I am sure you get the basic idea of what to get, and for beginners I recommended that you go with the card that is free for lifetime and once you’re into spending a lot more then only go with the card that have annual fee.