Cashback credit cards are popular for offering a percentage of your spending back as direct cash or redeemable points. Whether you’re a frequent shopper or someone who makes regular utility payments, the right card can save you money while you spend. In this article, we’ll explore the best cashback credit cards in India for 2024, focusing on options that provide maximum benefits on everyday purchases like dining, groceries, and online shopping.
What are Cashback Credit Cards?
Cashback credit cards are designed to reward users by returning a small percentage of their spending. These cards can be particularly beneficial for those who want to maximize savings on regular expenses. While some cards offer a flat cashback rate, others may provide enhanced rewards in specific categories. Understanding how cashback credit cards work can help you choose the best option for your needs.
Top Cashback Credit Cards in India
Here’s a look at some of the best cashback credit cards available in India. Each card caters to different spending habits and preferences, so it’s important to find the one that suits you best.
1. Amazon Pay ICICI Credit Card
- Best For: Amazon Shoppers
- Joining Fee: Nil
- Annual Fee: Nil
Key Features:
- 5% cashback for Amazon Prime members; 3% for non-Prime
- 2% cashback on select partner merchants
- 1% cashback on all other transactions
- Welcome benefits valued at ₹2,000
This card is ideal for those who frequently shop on Amazon. With a solid cashback structure, it provides great value, especially for Prime members.
2. Cashback SBI Card
- Best For: Online Shopping
- Joining Fee: ₹999
- Annual Fee: ₹999 (Waived off with ₹2 lakh annual spend)
Key Features:
- 5% cashback on online spends
- 1% cashback on offline transactions
- Fuel surcharge waiver at all petrol stations
The Cashback SBI Card is great for online shoppers, offering high cashback rates with no merchant restrictions.
3. HDFC Millennia Credit Card
- Best For: Versatile Brand Benefits
- Joining Fee: ₹1,000
- Annual Fee: ₹1,000 (Waived off with ₹1 lakh annual spend)
Key Features:
- 5% cashback on select brands like Amazon, Swiggy, and more
- 1% cashback on all other transactions
- Cash Points instead of traditional cashback
With a focus on popular brands, this card offers broad benefits across various spending categories.
4. Flipkart Axis Bank Credit Card
- Best For: Flipkart and Travel Enthusiasts
- Joining Fee: ₹500
- Annual Fee: ₹500 (Waived off with ₹3.5 lakh annual spend)
Key Features:
- 5% cashback on Flipkart and Cleartrip
- 4% cashback with preferred merchants
- Complimentary lounge visits
This card caters to those who frequently shop on Flipkart or travel, making it a practical choice.
5. Tata Neu Infinity HDFC Bank Credit Card
- Best For: Tata Group Shoppers
- Joining Fee: ₹1,499
- Annual Fee: ₹1,499 (Waived off with ₹3 lakh annual spend)
Key Features:
- 5% cashback on Tata Neu and partner brands
- Additional 5% on selected categories
- Welcome benefit of 1,499 NeuCoins
Great for shoppers who prefer Tata brands, this card also rewards EMI transactions.
6. Swiggy HDFC Bank Credit Card
- Best For: Food Lovers
- Joining Fee: ₹500
- Annual Fee: ₹500 (Waived off with ₹2 lakh annual spend)
Key Features:
- 10% cashback on Swiggy
- 5% cashback on top brands
- Complimentary Swiggy One membership
Ideal for regular Swiggy users, this card offers generous cashback on food and grocery orders.
7. Myntra Kotak Credit Card
- Best For: Fashion Enthusiasts
- Joining Fee: ₹500
- Annual Fee: ₹500 (Waived off with ₹2 lakh annual spend)
Key Features:
- Up to 7.5% discount on Myntra purchases
- 5% cashback on partner merchants like Swiggy and PVR
- Complimentary Myntra Insider membership
A strong choice for fashion shoppers, this card provides significant savings at Myntra.
8. Airtel Axis Bank Credit Card
- Best For: Utility Payments
- Joining Fee: ₹500
- Annual Fee: ₹500 (Waived off with ₹2 lakh annual spend)
Key Features:
- 25% cashback on Airtel bill payments
- 10% cashback on utility bills via Airtel app
- Amazon e-voucher as a welcome benefit
This card is particularly beneficial for Airtel customers looking to save on utility bills.
9. HSBC Live+ Credit Card
- Best For: Everyday Expenses
- Joining Fee: ₹999
- Annual Fee: ₹999 (Waived off with ₹2 lakh annual spend)
Key Features:
- Up to 10% cashback on groceries and dining
- 1.5% unlimited cashback on all other spends
- Complimentary lounge visits
A great all-rounder, this card provides solid cashback on various categories.
How to Choose a Cashback Credit Card
When selecting a cashback credit card, consider the following:
- Spending Habits: Identify where you spend the most (e.g., groceries, online shopping).
- Rewards Structure: Look for cards that offer higher cashback rates in your spending categories.
- Annual Fees: Consider whether the benefits outweigh the fees.
- Redemption Options: Check how cashback can be redeemed—whether as statement credit, direct cash, or points.
Conclusion
The right cashback credit card can provide substantial savings on everyday expenses. Whether you’re shopping online, dining out, or paying bills, there’s a card tailored to fit your lifestyle. Explore the options listed above to find the best cashback credit card for your needs in 2024!
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