Credit cards are not the most feasible payment option for the majority of the people. The reason is the widespread ‘worrisome’ perception surrounding credit facilities. In India especially, the percentage of debit card users is substantially higher than credit card users. However, all of this is set to change. The number of credit card users is rising and when it comes to millennials the number of users is even higher. Why the sudden increase you may ask. This is because the younger generation is better educated regarding the applications of credit cards and their proper usage. Another reason that led to the explosion of credit card usage is the wide array of discounts and offers that come along with it. There are two credit cards in wide usage in India: Reward point credit cards and Cashback credit cards. In this article we discuss the Top Cashback Credit Cards in the market in India.
What are Cashback Credit Cards?
Cashback Credit Cards enable users to transact and get a certain fixed percentage on the product value off as cashback post every transaction. The Cashback is then credited to the user’s account. Since different cashback credit cards have different deals and offers, it is important to make an educated decision when opting for a cashback credit card. With that said, let us discuss the best cashback credit cards and inform you of their features so that you can decide the best one for you.
Top cashback credit cards in the market
- Flipkart Axis bank Credit Card
- Amazon ICICI Credit Card
- HSBC Cashback Credit Card
- HDFC Millenia Credit Card
- Citibank Cashback Credit Card
Flipkart Axis Bank Credit Card
The Flipkart Axis Bank Credit Card is one of the best cashback credit cards in the market. It is a digital card and offers discounts on major utility platforms such as MakeMyTrip, Uber, Gaana, Goibibo, Myntra, PVR, Zomato and Flipkart of course. The card can be obtained very easily and is activated instantly. It comes with an annual fee of only Rs.500. In the first year, there is no annual fees. Though users will pay the amount it will be refunded back to their account.
The Flipkart Axis Bank Credit Card has a flat cashback of 5% on every transaction done on any of the partner platform. Users also get welcome benefits or onboarding offers, complementary airport lounge access up to 4 times a year and No Cost EMI on Flipkart across all product categories. To top it all off, the card offers up to 20% cashback on Zomato across 4000+ restaurants. Additional benefits include cashbacks on 2GUD, Goibibo, on Movie tickets and food on PVR, Urbanclap, and free 6 months Gaana plus membership along with 50% discount on the next 6 months.
The entire process is paperless and requires little to no formalities. To make things better if users spend more than Rs.2 lakhs per month, the annual fees of Rs.500 will be waived off.
Amazon ICICI Credit Card
Coming in at number 2, we have the Amazon ICICI Credit Card. The card features 5% cashback across all products on Amazon.in for all Amazon prime users and 3% cashback for all Non-Prime users. Users can get 2% cashback on payments to Amazon Pay Partner Merchants and save 1% on all other transactions. The card provides a 1% waiver on fuel surcharge and 15% discount on more than 2500 restaurants across India. All cashbacks are transferred to the user’s Amazon Pay wallet.
Unlike many other cards, this digital card does not have any joining fee or annual fee. Hence, the Amazon ICICI Credit Card is free for lifetime. Being powered by VISA, it is acceptable everywhere in the world and functions just like a normal credit card.
HSBC Cashback Credit Card
At number 3 we review the HSBC Cashback Credit card. Similar to the ICICI Amazon Pay Credit card, this cashback credit card also does not have any joining fees. It has an annual fees of Rs.750 similar to the Axis Bank Flipkart Cashback Credit Card. However, this fees is waivered off if the user spends more than Rs.100000.
The card has numerous benefits: 1.5% cashback on all online purchases, 1% cashback on all other purchases, Cashback on instant EMI across listed merchants, Flat Rs.100 off once a month on Swiggy, 20% off on all Swiggy orders exceeding Rs.400, Up to 15% off on dining at over 1000 restaurants. Buy-one-get-one offer on BookMyShow, 15% discount on Tata Cliq across all product categories and discount on Samsung smartphones. Furthermore, the card also features cashbacks on tour and travel websites such as Club Mahindra, MakeMyTrip, Goibibo, Cleartrip and on Food & Grocery platforms such as Zomato, Swiggy, BigBasket and Grofers.
HDFC Millenia Credit Card
HDFC Millenia is the fourth in line in our list of the top cashback credit cards in the market. It shares many of its traits with the other cards listed in the article. It features a 5% cashback on Amazon, Flipkart, PayZapp, 2.5% cashback on all online spends exceeding or equal to Rs.2000 and 1% cashback on all offline transactions. Airport Domestic Lounge Access 8 times per year (2 in a quarter). 1% fuel surcharge waiver on minimum transaction of Rs.400 across all fuel stations.
The card enables users to convert their purchases into EMIs and also gives them the option to opt for revolving credit facility. Compared to the other cards we reviewed in the article, this card has the highest renewal fees of Rs.1000/year which can be waivered off on yearly spend exceeding Rs.100000.
Citi Cashback Credit Card
Lastly, we review the Citibank Cashback Credit Card. Offering 5% cashback on all utility bill payments, 0.5% Cashback on all other transactions, Instant loans, EMI conversion and 20% cashback on dining across partner restaurants in India, it is another viable cashback credit card option to opt for. Besides, it also has offers such as 10% off on Amazon, Home Stop, Shoppers Stop, BookMyShow; 5% off on Treebo Hotel bookings, Flat Rs.1000 off on Croma, Rs.200 off on Ferns N Petals among many others.
The annual fee for Citi Cashback card is Rs.500. The cashback balance never expires and has lifetime validity. One of the features that sets this card apart from the others is the wide variety of international offers. Citi Cashback Credit Card has deals and offers outside the nation in 90 countries.
Which Cashback Credit Card is best for you?
If you are a specific e-commerce platform user, for instance if you use only Flipkart or Amazon, then we’d advise you to use the Axis Bank Flipkart Cashback Credit card or the ICICI Bank Amazon Pay Cashback Credit Card respectively. We advise so, since they’re better suited to transacting on the platform of their collaborating partner. If you are not a specific e-commerce platform user then you might be better off using the HDFC Millenia Credit Card.
Applying for cashback credit card or not, be sure to check out the deals listed on Zapingo. We list offers and deals across all product categories on all e-commerce platforms. From Smartphones and TVs to Home décor and curtains; From Amazon & Ajio to PharmEasy & SuprDaily we have it all!
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