10 Best Cashback Credit Card in India: Review & Detailed Comparison

10 Best Cashback Credit Card in India: Review & Detailed Comparison
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Today we will talk about what are the best cashback credit card in India using which you can save a lot of money!

Banks these days know it well how to keep their customers on track through various rewards and cashback in the form of reward points. You can simply redeem the reward points as per your convenience in the selected places. It is essentially an accurate portion of the total purchase that makes it attributed as cashback.

Nonetheless, diverse financial institutions offer varying rewards and plans for several types of credit card users. Determining the right credit card for you can be a critical task and is based on various determinants like the cashback feature being one of the crucial components to be thought of analytically when you decide on the right credit card for you.

10 Best Cashback Credit Card in India 2020

This article would surely help you to find out the Best Cashback Credit Cards in India, that will guide and assist you in making the right decision. The highest and the most reliable cashback proposals offered on the credit cards are mentioned below:

1.American Express Payback Credit Card

Are you looking for a reward paying credit card which has its association with various departmental stores providing plenty of discounts across the nation? If the answer is yes, the American Express Payback Credit card suits your needs perfectly.

Be it dining, online purchasing, fuel concessions, or exciting welcome rewards.

Features of American Express Payback Credit Card:
  • As you spend Rs. 100 you earn 3 payback points(excluding insurance, services, fuel and other types of cash transactions)
  • There are 40 payback partners, hence more scope of earning rewards.
  • You get exclusive welcome vouchers of Rs. 3000.
  • Moreover, you can get the added benefit of 900 bonus points by spending Rs. 15000 or more in the first 60 days through this credit card.
  • With the help of your credit card, you can find great travel, dining, and shopping deals.
  • Using the American Express Payback Credit Card can make you earn discounts between 5% to 30% depending upon the outlet and also cashback every time you go out for a dine out on beyond 1200 restaurants.
  • You will get offers on booking travel tickets through MakeMyTrip.com.

2.Citibank Cashback credit card

Are you the one who would avoid paying your bill standing all that while in a line and save time by doing so online?? Or in any case, you are a movieholic and can’t miss on them? Then the Citibank cashback credit card is a suitable choice since it offers cashback on settling bills and paying for other services online. It can be beneficial for you if you spend up to Rs. 2000 on online transactions.

Nevertheless, people need to be careful while applying for the Citibank Cashback credit card as the bank demands a real-time history as the statistics reveal that almost 80% of applications get rejected due to low credit scores. This card is actually worth the effort as It gives various reward and allowances. Also, the credit card does not require you to pay any joining fees. You also get an annual fee waiver if your annual spending exceeds Rs.30000.

Features of Citibank Cashback credit card:
  • On movie ticket purchases, you can easily earn 5% cash back each time you do so.
  • You get a 5% cashback on payments like electricity bills and other such utility bills.
  • Earn 5% cashback on paying your postpaid phone bills.
  • You are also entitled to 0.5% cashback on other spendings.
  • Users can convert their big purchases into easy EMIs.
  • 100 per month is the maximum cashback you can earn for each category as said in the above points.
Eligibility of Citibank Cashback credit card:
  • Applicants must be above 21 years and below 65 years of age.
  • Indian citizens only can apply for this card.
  • Customers must have a regular source of income.
  • He/she should not have defaulted on payments.

Fees and charges:

Particulars Amount
Annual Fee Rs. 500
Cheque/ECS/ACH bounce charge Rs. 500 per returned instrument
Extended Credit Charges Ranges between 37.20% to 42.00% per annum
Outstation Cheque Charge (based on the value of the cheque)
  • Up to Rs. 10,000 – Rs. 50 per cheque
  • Rs. 10,001 to Rs. 1,00,000 – Rs. 100 per cheque
  • Above Rs. 1,00,001 – Rs. 150 per cheque
Reissue of lost, stolen or damaged card Rs. 100
Cash Advance Charges 2.5% of the amount/Min. Rs. 500. $7.5 at International ATMs
Railway ticket booking surcharge 1.8% of the transaction value
Fuel transaction charge 1% of the transaction amount, subject to a minimum of Rs. 10. Waived at Indian Oil Corporation outlets for transactions on Citi EDCs (electronic data capture terminals).
Overlimit Charges 2.5% of the amount (excluding fees, charges and taxes) over the credit limit, subject to a minimum of Rs. 500.
Late Payment Fee
  • Rs. 300 for current balance less than Rs. 10,001
  • Rs. 600 for current balance* of Rs. 10,001 and up to Rs. 25,000
  • Rs. 950 for current balance above Rs. 25,000
Apply for Citibank Cashback credit card

3.HDFC MoneyBack Credit Card

Generally, Every HDFC account holder has an option to get the Moneyback credit card as it is the most basic credit card offered by HDFC bank.

The most highlighted characteristic of a MoneyBack card is that reward points are redeemable for cash. For instance, 1000 redeemable points are equal to a credit of Rs. 200.

Its other advantages include significant savings like 0.53% on your online transactions and 0.27% on any sorts of other transactions.

The Annual Fee of the card is as minimum as Rs. 500. Also, you could get next year’s annual fee waiver by spending Rs 50,000 in that particular year.

Reasonable Annual Saving

  • On the expenditure of Rs. 1 Lakhs you can save Rs 4260.
Features of HDFC Money Back Credit Card:
  • Every time you spend Rs 150, you earn 2 reward points.
  • While in case you spend Rs 150 online, you receive 4 reward points.
  • Redeem reward points for cash (100 reward points = Rs.20).
  • Minimum 2,500 points are required for redemption.
  • Accidental death insurance worth Rs.50 lakh.
  •  Making retail purchases of Rs. 50,000 or above every quarter you will get a gift voucher worth Rs. 500.

Thus this card is basically designed keeping shoppers need in mind. A lot of shopaholics get attracted to this credit card because of low maintenance and high rewards.

Eligibility of HDFC Money Back Credit Card:
  • Applicant should be either self-employed or salaried.
  • For salaried the age range is 21 to 60 years.
  • For self-employed, it is 21 to 65 years.
  • The applicant should have a good credit history and a stable flow of income.
  • Must have a regular source of income with a minimum monthly take home of Rs. 13,000 per month.
  • Both Resident Indians and NRIs can apply for HDFC Bank MoneyBack credit card.

Fees & Charges:

Type of Fee/Charge Amount
Annual Fee/Renewal Fee Rs. 500 + GST
Cash Advance Charges 2.5% of the amount withdrawn or Rs. 500 whichever is higher
Add-on Card Fee Nil
Over limit Charges 2.5% of over limit amount, subject to a minimum of Rs. 500
Railway Ticket Purchase Fee 1.8% of the transaction amount + GST
Reissue of Lost, Stolen or Damaged Card Rs. 100
Payment Return Charges 2% of Payment amount subject to a minimum of Rs. 450
Cash Processing Fee Rs. 100 (for all card payments made by depositing in HDFC Bank branches or ATMs)
Balance Transfer Processing Charges 1% of BT amount or Rs. 250, whichever is higher
Late Payment Charges For Statement Balance:

  • Less than Rs. 100 – Nil
  • Rs. 100 to Rs. 500 – Rs. 100
  • Rs. 501 to Rs. 5,000 – Rs. 500
  • Rs. 5,001 to Rs. 10,000 – Rs. 600
  • Rs. 10,001 to Rs. 25,000 – Rs. 800
  • Rs. 25,001 and above – Rs. 950
Apply for HDFC Money Back Credit Card

4.ICICI Instant Platinum Card

The first time users of ICICI Bank get the offer to avail the Instant Platinum Card. This does not consider how your credit score and history has been, and hence, as a new user, you make your history as you start using the credit card. The fixed deposit initiated with the bank could be used as a guarantee to get this credit card. Thus it is a prerequisite to have a savings account with the bank. For somebody with no payroll such as students and homemakers, ICICI Instant Platinum Card stands out as the greatest cashback credit card.

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Features of ICICI Instant Platinum Card:
  • With every spend of Rs. 100 from the card you get 2 cashback points.
  • On booking from www.bookmyshow.com, you get 2 tickets free every month.
  • 15% off on dining over 800 outlets associated with the bank situated across 10 different cities.
  • On a minimum spend of Rs. 4000 at any HPCL petrol pump, you get 2.5% fuel surcharge waiver.
  • Simple admittance to global card replacement and also really fast and responsive emergency support facilities.

Fees and Charges:

Fee/Charge Amount
Joining Fee Nil
Annual Fee Nil
Supplementary Credit Card Fee Nil
Overdue Interest on Extended Credit and Cash Advances 2.49% per month (29.88% annualised)
Apply for HDFC Money Back Credit Card

5.SBI Simply Click Credit Card

In case you do not prefer making an annual fee payment SBI simply click credit card is an excellent opportunity for regular shoppers. If you spend Rs 1 lakh or more from the card, your annual charge cancels out. These cards are also qualified for special transactions on online stores such as Flipkart, Amazon, MakeMyTrip, and Clear trip.

Benefits of SBI Simply Click Credit Card:
  • Gain 10x Reward point on buying with online stores such as Amazon, BookMyTrip, Fabfurnish, Ola, Foodpanda, Zoom car, Lenskart, etc.
  • You get 5x reward points by buying things from any other website.
  • You also get the Amazon worth voucher Rs. 500.
  • Simply wave your card at a secured reader and your transaction is done.
  • Users can transfer the outstanding balance from other credit cards into SBI SimplyCLICK.
  • Users can get add-on cards for their family member.
  • Get 1% fuel surcharge waiver for each transaction between Rs. 500  and Rs. 3000.
  • After spending Rs. 1 lakh, you not only get away with the annual pays, but it also earns you a Cleartrip voucher worth Rs. 2000.

Features of SBI Simply Click Credit Card:

  • The first movie ticket you buy online from BookMyShow you get an off of Rs 100.
  • Using Urban Clap for the first time can give you an exciting 40% off.
  • Amazon voucher worth Rs 500 as a welcome gift.
  • Spending on websites like Amazon, BookMyShow, Lenskart, Foodpanda, and Urbanclap can help you get 10X rewards.
  • Using your credit card for other purchases makes you earn 5X reward points.
  • Using the SBI simply click credit card you get the fuel surcharge waiver of 1%.

Fees and Charges:

Fee/Charge Amount
Annual Fee Rs. 499
Renewal Fee Rs. 499 (reversed if annual spends for last year equals to or exceeds Rs. 1,00,000)
Add-on Fee (per annum) Nil
Extended Credit Interest-Free Credit Period 20-50 days, applicable only on retail purchases and if previous month’s outstanding balance is paid in full
Extended Credit Charges Up to 3.35% per month, accounting to 40.2% per annum, from the date of transaction
Extended Credit Minimum Amount Due 5% of Total Outstanding (Min. Rs. 200 + all applicable taxes + EMI (In case of EMI based product) + OVL amount (if any)
Cash Advance limit Up to 80% of the credit limit, maximum Rs. 12,000 per day
Free Credit Period Nil
Cash Advance Charges Up to 3.35% per month accounting to 40.2% per annum from the date of withdrawal
Cash Advance Fee (SBI or Other Domestic ATMs) 2.5% of withdrawal or Rs. 300 per transaction, whichever is higher
Cash Advance fee International ATMs 3.0% of withdrawal or Rs. 300 per transaction, whichever is higher
Overlimit Charges 2.5% of over-limit amount subject to a minimum of Rs. 500
Late Payment Fee
  • Nil for total amount due from Rs. 0 to Rs. 200
  • Rs. 100 for total amount due more than Rs. 200 up to Rs. 500
  • Rs. 400 for total amount due more than Rs. 500 up to Rs. 1,000
  • Rs. 600 for total amount due more than Rs. 1,000  up to  Rs. 10,000
  • Rs. 800 for total amount due more than Rs. 10,000 up to Rs. 25,000
  • Rs. 900 for total amount due more than Rs. 25,000
Apply for SBI Simply Click Credit Card

6.Citibank PremierMiles Card

Citibank premier miles credit card is no less than a blessing for its clients who travel on a frequent note. From booking your travel tickets to shopping online, you can easily get a wide range of discounts and offers through this credit card. You also get the privilege to access airport lounges on both domestic and international airports, if you happen to spend 2 lakhs every year on your travel. However, customers should have a good credit score because the bank rejects a huge number of applications each year.

Features of Citibank Premier Miles Card:
  • On activation of your credit card, you are rewarded with 10000 miles.
  • You get 10 miles on every airline transaction worth Rs. 100.
  • Enjoy the reward of 10 miles by booking through www.premiermiles.co.in on every Rs. 100 be it travel or hotel bookings.
  • On more than 100 domestic and international airlines, you can easily redeem these points.
Benefits of Citibank Premier Miles Card:
  • Enjoy up to 15% discount at select restaurants across the country.
  • Air Accident Insurance coverage and Lost Card Liability Cover of Rs. 1 Crore and Rs. 2 Lakh respectively.
  • Applicant must be an Indian national or Non-resident Indian.
  • Applicant must be aged between 18 to 70 years.

Fees and Charges:

Credit Card Fee Type Charges
Annual fee Rs.3,000 (Complimentary for Citigold customers)
Supplementary card fee Nil
Interest rate 3.1% to 3.5% per month or 37.20% to 42% per annum
Cash advance fee 2% for domestic withdrawal with a minimum amount of Rs.300.
Late payment fee Rs.100 per month
Over credit limit fee 2.5% of the over limit amount, subject to a minimum of Rs.500
Cheque return or bounce fee Rs.350 per return
Statement request fee Nil
Railway ticket booking surcharge 1.8% of the transaction value
Re-issue of the card Nil
Cash payment fee (over the counter) Rs.100 per deposit
Cash payment at ATMs Rs.50 per payment
Foreign currency transaction fee 3.5%
Apply for Citi PremierMiles Credit Card

7.HDFC Solitaire Credit Card

With HDFC, you can use a credit card that perfectly fits the need of a shopper. To enjoy special deals on dining, departmental stores, and online shopping. You can easily avail the amazing offers, and all you need to pay is a nominal joining fee.

Features and Benefits of HDFC Solitaire Credit Card:
  • You get Thyrocare’s welcome package in the first year of your membership.
  • Every time you renew your credit card, you can get 1000 reward points as the renewal bonus.
  • Each time you pay Rs. 150 using the credit card you get 3 bonus points.
  • Apart from it on grocery and dining expenses, you get as much as 50% cashback.
  • If you spend more than 75,000 using your credit card you also get this shopping voucher of worth Rs 1000 from Shoppers Stop.
  • Earn reward points while traveling through domestic flights.
  • Also, you can get a surcharge waiver on selected petrol pumps across the country.
  • Accidental Death coverage up to Rs. 50.00 lakh.
  • Fire and Burglary Protection of goods over Rs. 5,000 for 180 days.

Fees and Charges:

Type of Fee or Charge Amount
Annual/Renewal Fee Rs. 500
Cash Advance Fees 2.5% of the amount/Min. Rs. 500
Late Payment Charges For Statement Balance
Less Than Rs. 100 – Nil
Rs. 100 to Rs. 500 – Rs. 100
Rs. 501 to Rs. 5000 – Rs. 500
Rs. 5000 to  Rs. 10000 – Rs. 600
Rs. 10001 to Rs. 25,000 – Rs. 800
Amount over Rs. 25,000 – Rs. 950
Additional Card Fee Nil
Charges on Revolving Credit 3.49% per month or 41.88% p.a.
Over limit Account Charge 2.5% of amount/ Min. Rs. 500
Payment Return Fee 2% of amount/ Min. Rs. 450
Cash Processing Fee Rs. 100
Reward Redemption Fee Rs. 99 per request
Balance Transfer Processing Charge 1% of BT amount / Min. Rs. 250
Reissue of Credit Card Rs. 100
Foreign Currency Mark-up Fee 3.50% of the amount
Apply for HDFC Solitaire Credit Card

8.Standard Chartered Platinum Credit Card

In case you are looking for a credit card that fulfills your multi-purpose credit needs the Standard Chartered Platinum credit card may be the best choice for you. It makes the right decision for salaried individuals as they look forward to earning cashbacks on grocery purchases. By making a purchase of minimum Rs.1000 in the first month, you can save Rs.500 limited to Rs.150 per transaction. Also shopping from stores like Reliance Fresh, Big Bazaar, More, Food Bazaar you get 5% cashback.

Features of HDFC Solitaire Credit Card:
  • Customers can enjoy faster checkouts, secure payments and complete freedom from cash.
  • Customer can easily transfer balance up to Rs. 5,00,000 from other bank credit card  at attractive interest rate.
  • Customers can get loan on his/her credit card up to Rs.7,50,000 in 2 days via NEFT.
Benefits of HDFC Solitaire Credit Card:
  • If you make purchases through your credit card in the first 60 days, you can score 1000 reward points.
  • You can enjoy flat 20% cashback on Uber rides.
  • Just by registering for E-banking you can Earn 500 extra points
  • With each time spending of Rs. 150 from your credit card, you earn one reward point.
  • As you spend Rs. 150 on fuel, you receive 4 bonus points.
  • Apart from these spending Rs. 150 on dining can fetch you 5 bonus points.
  • Customers can get up to 15% off at Manipal Hospitals and 10% off at Medanta Hospitals.
  • Can enjoy additional Rs. 1,000 off on annual gym membership at Gold’s Gym.

Fees and Charges:

Fee Type Amount
Annual Fee Rs. 250
Annual Fee ( second year onwards) Rs. 250
Add-on Fee (per annum) Nil
Free Credit Period Nil
Cash Advance (ATM withdrawals) 3% of withdrawal or Rs. 300 per transaction, whichever is higher
Overlimit Charges 2.5% of overlimit amount subject to a minimum of Rs. 500
Late Payment Fee  Rs. 100 for statement outstanding balance between Rs. 100 and Rs. 500
• Rs. 500 for statement outstanding balance between Rs. 501 and Rs. 5,000
• Rs. 700 for statement outstanding balance between Rs. 5,001 and Rs. 15,000
• Rs. 800 for statement outstanding balance greater than Rs. 15,000
Surcharges Rs. 10 or 1% of transaction (whichever is higher) are livied on Petrol transactions. Rs. 25 or 2.5% (whichever is higher) are levied on Railway station
Goods and Services Tax (GST) GST is levied on all taxable supplies
Apply for Standard Chartered Platinum Credit Card

9.American Express Membership Rewards Credit Card

Unlike other cards, the American Express offers Membership Rewards Credit Card is a type of credit card that can be used for a varied range of things to earn the benefit. You can make different kinds of payments using your credit card.

It happens to be the best option for people who don’t give much time and thought before spending as there is no credit limit making it a compliant choice. For all transactions of Rs. 50 you get 1 reward point except for any purchases in utilities, fuel, insurance, and cash transactions. Note that the annual charges for the credit card are more than other credit cards.

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Features and Benefits of American Express Membership Rewards Credit Card:
  • By making 3 transactions, you receive 4000 reward points specifically in the first 2 months as you are a paid member.
  • Get 1000 bonus points by making 4 minimum transactions of Rs. 1000 every month.
  • After your first membership year ends within 90 days of the renewal of your credit card, you can earn 5000 membership points as you are done paying the annual fee.
  • One of the biggest advantages of all is the 3% cashback across all the petrol pumps in India.
  • The card provides you an easy EMI option through which you can go for making a big purchase.
  • On redemption on 24 and 18-carat gold stock, you get significant reward points.
  • Also, if you plan your trip through MakeMyTrip.com, you get additional reward points using the American Express Membership Rewards Credit Card.

Fees and Charges:

Particulars Amount
Annual Fee ₹ 1,000 plus applicable taxes
Renewal Fee ₹ 4,500 plus applicable taxes*
Add-on Fee (per annum) Nil for up to 2 add-on cards
Interest-Free Period 52 Days
Finance Charges 3.5% per month
Surcharge on Purchase of Railway Ticket 1.8% of the transaction value if booked on the internet (IRCTC) subject to a minimum of ₹ 10
Record of Charge/ Summary of Charge Retrieval Fee ₹ 100 per Retrieval
Cash Advance Charges 3.5% of the Cash Advance amount, subject to a minimum of ₹ 250
Duplicate Statement Fee ₹ 100 per statement for statements older than 3 months
Cheque/ECS/NACH Return Fee ₹ 250 per Returned Instrument
Overlimit Charges ₹ 500
Foreign Currency Transactions Currency Conversion Factor Assessment: 3.50%
Points/Miles Reinstatement Fee ₹ 200 per reinstatement
Apply for American Express Membership Rewards Credit Card 

10.Standard Chartered Super Value Titanium Credit Card

Every credit card user seems to love rewards and cashbacks, therefore for them the Standard Chartered Super Value Titanium Credit Card seems to be an excellent option that can help them earn cashback on fuel, on their telecom payments as well as on their utility bills. Apart from these specific needs, there isn’t much a credit cardholder asks for.

Features and Benefits of Standard Chartered Super Value Titanium Credit Card:
  • You can gain 5% cashback on all fuel purchases which is segregated as 2.5% surcharge reversal and 2.5% cashback separately across all the petrol pumps.
  • Customers can enjoy faster checkouts, secure payments and complete freedom from cash.
  • Earn 1 reward point for every Rs. 150 spent and 5X reward points for overseas point-of-sale spends.
  • On telecom bill payments You can receive 5% cashback be it any service provider.
  • Customers can transfer balance up to Rs. 5,00,000 from other bank credit card  at attractive interest rate.
  • The very attractive feature of this credit card includes 5% cashback on your utility payments like electricity, gas, and water bills.
  • On your monthly Uber rides, You also get 20% cashback up to Rs.600.
  • The point here to be noted is that you need to spend a minimum of Rs 750 to be eligible for the cashback facility.

Fees and Charges:

Fee Type Amount
Annual Fee Rs. 750
Annual Fee ( second year onwards) Rs. 750
Add-on Fee (per annum) Nil
Free Credit Period Nil
Cash Advance (ATM withdrawals) 3% of withdrawal or Rs. 300 per transaction, whichever is higher
Over limit Charges 2.5% of overlimit amount subject to a minimum of Rs. 500
Late Payment Fee  Rs. 100 for statement outstanding balance between Rs. 100 and Rs. 500
• Rs. 500 for statement outstanding balance between Rs. 501 and Rs. 5,000
• Rs. 700 for statement outstanding balance between Rs. 5,001 and Rs. 15,000
• Rs. 800 for statement outstanding balance greater than Rs. 15,000
Surcharges Rs. 10 or 1% of transaction (whichever is higher) are livied on Petrol transactions. Rs. 25 or 2.5% (whichever is higher) are levied on Railway station
Goods and Services Tax (GST) GST is levied on all taxable supplies
Apply for Standard Chartered Super Value Titanium Credit Card

The above-mentioned credit cards qualify for the best cashback credit card in India as they are full of cashback offers that can help you save a lot of your hard-earned money. The most important fact that you need to pay attention to while choosing the right credit card for yourself is that you need to consider all the other factors that are important to look at before owning the credit card and not just the cashback.

  • Your usage
  • Your income
  • Your expenditure
  • Your needs
  • Your lifestyle
  • Fee charged
  • Interest rate
  • Other benefits
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Sushma is a full-time blogger and financial expert. Join Sushma and 10,000 monthly readers here to learn how to save and invest your money wisely.

4 comments
  1. Pingback: SBI Elite Credit Card Review: Premium Card for High Spenders
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  3. Pingback: What Are The Types Of Credit Cards And How They Work In India?

  4. i really don’t know that this many types of credit cards are there but to day i come to to know all types of cards are there in the market thank you so much for your information

    Reply
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