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Credit Card Schemes and Offers in India – Oct 2017

Last Updated 18th Oct 2017

Compare Credit Card – SBI, HDFC, ICICI, RBL, All Banks

  • Earn cashback or reward points each time you swipe your card.
  • No interest charged on bill if you pay all the due balance by credit card bill payment date.
  • Can be used to build credit worthiness for loans in future.
  • Can be used to convert purchases in EMIs and reduce your burden of paying whole bill at one time.
  • Can be used for current purchases and pay later.

Compare cards online and get the best offers

Lifestyle Credit Card

Interest Charges Per Month Joining Fee
Citibank Citi Prestige Card 3.10% Fee applicable, communicated at the time of sourcing
Axis Bank Signature Cards with Lifestyle benefits 2.95% 5000
Standard Chartered Bank Platinum Elite Card 3.10% NIL
Standard Chartered Bank Visa Infinite Card 3.10% NIL
HDFC Bank Platinum Times Card 3.40% NIL
HDFC Bank Titanium Times Card 3.40% NIL
HDFC Bank Infinia Card 1.99% 10000
HDFC Bank Diners Club Black Card 1.99% NIL

Shopping Credit Card

Interest Charges Per Month Joining Fee
Citibank Rewards Card 3.25% Fee applicable, communicated at the time of sourcing
Citibank Cashback Card 3.10% Fee applicable, communicated at the time of sourcing
Citibank Rewards Domestic Card 3.25% Fee applicable, communicated at the time of sourcing
Citibank First Citizen Titanium Card 3.25% Fee applicable, communicated at the time of sourcing
SBI SimplySAVE Card 3.35% NIL
SBI SimplySAVE Advantage Card 2.50% NIL
SBI Student Plus Advantage Card 2.25% NIL
SBI FBB Styleup Card 3.35% Nil
SBI BMB Gold and more Card 3.35% Nil
Axis Bank My Choice Card 3.25% 250
Axis Bank My Zone Card 3.25% 500
Standard Chartered Bank Inner Circle Platinum Card 3.10% NIL
Standard Chartered Bank Manhattan Platinum Card 3.10% NIL
Standard Chartered Bank Bajaj Platinum Card 3.10% NIL
Standard Chartered Bank Bajaj World Card 3.10% 2999
HDFC Bank Titanium Times Card 3.40% NIL
HDFC Bank Teachers Platinum Card 3.40% NIL
HDFC Bank Business Platinum Card 3.49% 299
HDFC Bank Platinum Edge Card 3.40% NIL
HDFC Bank Moneyback Card 3.40% NIL

Cashback Credit Card

Interest Charges Per Month Joining Fee
Citibank Rewards Card 3.25% Fee applicable, communicated at the time of sourcing
Citibank Cashback Card 3.10% Fee applicable, communicated at the time of sourcing
SBI Student Plus Advantage Card 2.25% NIL
SBI IRCTC Platinum Card 3.35% Nil
SBI FBB Styleup Card 3.35% Nil
Axis Bank My Wings Card 2.95% 1200
Axis Bank My Choice Card 3.25% 250
Axis Bank My Zone Card 3.25% 500
Axis Bank My Business Card 3.25% 999
Standard Chartered Bank Super Value Titanium Card 3.10% NIL
Standard Chartered Bank Inner Circle Platinum Card 3.10% NIL
Standard Chartered Bank Manhattan Platinum Card 3.10% NIL
Standard Chartered Bank Platinum Rewards Card 3.10% NIL
Standard Chartered Bank Yatra Platinum Card 3.10% NIL
ICICI Bank HPCL Coral Card 3.40% 199
ICICI Bank HPCL Platinum Card 3.40% 199
HDFC Bank Business Platinum Card 3.49% 299
HDFC Bank Platinum Edge Card 3.40% NIL
HDFC Bank Moneyback Card 3.40% NIL

Fuel Credit Card

Interest Charges Per Month Joining Fee
Citibank IndianOil Platinum Card 3.25% Fee applicable, communicated at the time of sourcing
Citibank IndianOil Titanium Card 3.25% Fee applicable, communicated at the time of sourcing
Axis Bank My Zone Card 3.25% 500
Standard Chartered Bank Super Value Titanium Card 3.10% NIL
ICICI Bank HPCL Coral Card 3.40% 199
ICICI Bank HPCL Platinum Card 3.40% 199

Travel and Airline Credit Card

Interest Charges Per Month Joining Fee
Citibank PremierMiles Card 3.10% Fee applicable, communicated at the time of sourcing
SBI IRCTC Platinum Card 3.35% Nil
SBI Yatra Card 3.35% NIL
SBI Air India Platinum Card 3.35% NIL
SBI Air India Signature Card 3.35% NIL
Axis Bank Privilege Credit Card with Unlimited Travel Benefits 2.95% 1500
Axis Bank My Wings Card 2.95% 1200
Axis Bank My Zone Card 3.25% 500
Axis Bank My Business Card 3.25% 999
Axis Bank Miles and More Card 2.95% 2500
Axis Bank Titanium Smart Traveler Card 3.25% 250
Standard Chartered Bank Yatra Platinum Card 3.10% NIL
Standard Chartered Bank Emirates Platinum Card 3.10% NIL
HSBC Bank MMT Signature Card 3.10% NIL
HSBC Bank MMT Platinum Card 3.30% NIL
ICICI Bank JET Airways Coral Card 3.50% 1250
ICICI Bank JET Airways Rubyx Card 3.50% 2500
ICICI Bank JET Airways Sapphiro Card 3.50% 5000
HDFC Bank Platinum Times Card 3.40% NIL
HDFC Bank Jet Privilege HDFC Bank World Card 1.99% NIL
HDFC Bank Jet Privilege Platinum Card 3.40% NIL
HDFC Bank Infinia Card 1.99% 10000
HDFC Bank Superia Card 3.40% NIL
HDFC Bank Regalia Card 2.95% NIL
HDFC Bank Allmiles Card 3.40% NIL

Premium Credit Card

Interest Charges Per Month Joining Fee
SBI Signature Card 3.35% NIL
SBI Platinum Card 3.35% 2999
SBI Advantage Signature Card 2.50% Nil
SBI Advantage Platinum Card 2.50% Nil
Axis Bank Signature Cards with Lifestyle benefits 2.95% 5000
Axis Bank Privilege Credit Card with Unlimited Travel Benefits 2.95% 1500
HSBC Bank Visa Platinum Card 3.35% NIL
HSBC Bank Premier Master Card 2.49% NIL
HSBC Bank Advance Visa Platinum Card 3.30% NIL
ICICI Bank Coral Card 3.40% 1000
ICICI Bank HPCL Coral American Express Card 3.40% 1000
ICICI Bank Rubyx Visa Credit Card 3.40% 3000
ICICI Bank Sapphiro Card 3.40% 6500
ICICI Bank Diamant Card 3.40% 125000
HDFC Bank Doctors Superia Card 2.95% NIL
HDFC Bank Infinia Card 1.99% 10000
HDFC Bank Diners Club Black Card 1.99% NIL
HDFC Bank Superia Card 3.40% NIL
HDFC Bank Regalia Card 2.95% NIL
HDFC Bank Allmiles Card 3.40% NIL
HDFC Bank Solitare Card 3.40% NIL
HDFC Bank Diners Club Premium Card 3.25% NIL

Low Fee Credit Card

Interest Charges Per Month Joining Fee
Citibank Platinum Card 3.35% NIL
SBI Gold Card 3.35% 299
SBI Gold and More Advantage Card 2.25% 299
SBI Advantage Plus Card 2.25% Nil
Axis Bank Platinum Card 3.25% 500
Axis Bank Insta Easy Card 2.50% 500
ICICI Bank Platinum Chip Card 3.40% 199
ICICI Bank Instant Platinum Card 2.49% NIL
HDFC Bank Corporate Platinum Card 3.50% NIL

Rewards Credit Card

Interest Charges Per Month Joining Fee
Citibank PremierMiles Card 3.10% Fee applicable, communicated at the time of sourcing
Citibank Rewards Domestic Card 3.25% Fee applicable, communicated at the time of sourcing
Citibank First Citizen Titanium Card 3.25% Fee applicable, communicated at the time of sourcing
SBI SimplySAVE Card 3.35% NIL
SBI SimplySAVE Advantage Card 2.50% NIL
SBI IRCTC Platinum Card 3.35% Nil
SBI Yatra Card 3.35% NIL
SBI BMB Gold and more Card 3.35% Nil
SBI Air India Platinum Card 3.35% NIL
SBI Air India Signature Card 3.35% NIL
Axis Bank Privilege Credit Card with Unlimited Travel Benefits 2.95% 1500
Axis Bank My Wings Card 2.95% 1200
Axis Bank My Business Card 3.25% 999
Axis Bank Miles and More Card 2.95% 2500
Axis Bank Titanium Smart Traveler Card 3.25% 250
Standard Chartered Bank Bajaj Platinum Card 3.10% NIL
Standard Chartered Bank Bajaj World Card 3.10% 2999
HSBC Bank MMT Signature Card 3.10% NIL
HSBC Bank MMT Platinum Card 3.30% NIL
ICICI Bank JET Airways Coral Card 3.50% 1250
ICICI Bank JET Airways Rubyx Card 3.50% 2500
HDFC Bank Platinum Times Card 3.40% NIL
HDFC Bank Titanium Times Card 3.40% NIL
HDFC Bank Jet Privilege HDFC Bank World Card 1.99% NIL
HDFC Bank Jet Privilege Platinum Card 3.40% NIL
HDFC Bank Teachers Platinum Card 3.40% NIL
HDFC Bank Infinia Card 1.99% 10000
HDFC Bank Superia Card 3.40% NIL
HDFC Bank Regalia Card 2.95% NIL
HDFC Bank Allmiles Card 3.40% NIL

What is a credit card?

This is an instrument issued by banks and NBFCs which allows you to make purchases on credit, up to a predefined credit limit. It comes as a plastic card which is swiped on point of sale terminals placed at the merchant establishment (shopkeeper).
It is a convenient alternative for cash or cheque and makes online transactions easy. Cardholders must pay for card purchases within stipulated time of purchase to avoid interest and penalties.
The interest rate charged on this is the annual cost of borrowing money also known as annual percentage rate (APR). Most of the cards have a grace period within which you have to pay your credit card balance in full in order to avoid interest.

What are the benefits of a credit card?

Saves time- It saves time and allows traveling without worry of carrying currency notes in the pocket. It also avoids the trouble of searching for ATMs.

Reward points- Companies offer reward points on the purchase of the products. These reward points can be used to avail various gift items that are listed in the rewards catalogue of the cards.

Cashback-Some time banks provide various cashback schemes on purchases through their cards. These cashback rewards are directly transferred to the card account.

Welcome offers- Many banks give a welcome gift to new customers. It can be in the form of discounts, vouchers or bonus points.

Build credit line-A good credit history is important for availing loans and rental applications. With the help of these cards you can increase and improve the CIBIL score.

Safety-These are more secured than debit cards as at the time of fraud transactions you are not out of money. MasterCard also offer additional password protection while online transaction process.

Allows large purchases in an emergency-With these cards you can pay off your purchase bill when you don’t have cash.

Foreign currency transaction- These cards can be used in foreign countries without any conversion. However, it carries some cost but it is more convenient.

Record keeping- The card statement gives the track of your expenses. Some cards also provide year end summary that helps while paying taxes.

What is the difference between credit and debit card?

Credit Card Debit Card
The funds are available based on the credit limit set by the bank The funds are available based on the available balance in the account
It is suitable for the customers who often use cards to make transactions It is suitable for the customers who prefer to withdraw cash from ATMs
The EMI facility is available The EMI facility is not available
It carries line of credit It does not have credit line
The penalty is charged on non-payment The penalty is not charged on non-payment
The problem of fraud transaction is low The problem of fraud transaction is high
This doesn’t need to be connected to any bank account This need to be connected with current or savings account

What is Credit Limit? How is it fixed?

Credit limit is the maximum amount that you can spend or borrow using the card. A credit limit is like a loan. Instead of giving you the full loan in cash, the bank provides you an option to borrow on the card and repay later.

  • The limit varies for different borrowers and lenders and type of card chosen.
  • The limit is determined based on your income, source of income, credit score, repayment history and other personal details.

What does credit card APR mean?

APR (annual percentage rate) takes into account interest rate and other charges to calculate the cost of credit. However, don't always assume that a card with a lower APR is the better one. Please do a thorough comparison of all components of APRs and fees and choose the card that meets your spend or credit requirements.

  • APR may differ for cards that offer different length of grace period (interest free period) on card payments. Interest fee period on different cards offered by different banks can range between 20-55 days.
  • There can be multiple APRs on a single card such as a Cash Advance APR, Penalty APR and an introductory APR in addition to Credit APR.

When do late payment fees apply?

A late payment fee may be added to your account if you do not pay at least the minimum monthly payment as shown on your statement of account by the due date.

What are the eligibility criteria?

  • Minimum and maximum age required is 18 and 70 years.
  • Minimum income of the applicant should be Rs. 15,000. However, it may vary from bank to bank.
  • Applicant must be having a savings account.
  • He/she should be a citizen of India, resident or non-resident.

What are the documents required?

  • Bank Statement
  • Identity proof (Passport, PAN Card, Aadhaar Card)
  • Age proof (PAN Card, 10th and 12th marksheet)
  • Address proof (Electricity bill, Aadhaar Card, Driving License, Voter id)
  • Income Statement (last 3 months salary slip)
  • Last 3 years IT return (for self-employed only)

Which credit card is right for me?

There may be many cards options available to you, but look for the one that suits your spending habits and needs. Further, you need to check and compare the following factors before selecting a card for your use:

  • Interest rate
  • Additional fees and costs
  • Introductory offers
  • Rewards and benefits

Do a thorough assessment of the utility of cards for you and question/compare to identify if there can be a better card option available for you.
For instance:

  • If you travel more, then you may want to apply for a card that will help you earn bonus miles and score free flights. A travel card that can be used in India and other countries, offer easy booking/flying options and convenience in travelling such as access to premium lounges at airports should fit the bill.
  • If a significant usage of your card is likely to be on shopping, paying utility bills, dining, groceries etc, then cash back cards with attractive cash back % may be a better choice.

What are the risks involved in using a credit card?

You need to exercise prudence, before taking a decision to spend on your card. It is quite possible and common for a card user to commit one of the following mistakes:

  • Build up more debt than you can service prudently based on your monthly income and savings
  • Damage your credit score if your payments get regularly late to pay your dues or you don't repay.
  • Costs much more than some other forms of credit, such as a line of credit or a personal loan.

What are the precautions you need to take to prevent credit card fraud?

You need to be extremely careful in guarding, using and sharing your card information at all times. Some of the useful tips to prevent a card fraud are:

  • Don't leave personal information such as your name, address, date of birth and password etc. lying around at home, in your vehicle or at work.
  • Choose a PIN that is difficult to guess and never write it down or give it to anyone.
  • If you receive a reissued or replacement card, destroy the old one as soon as the new one is activated.
  • If you don't receive a reissue or replacement by the time your card expires, contact your card issuer.
  • Don't give out card information over the phone, unless you have made the call yourself and know that the party you are dealing with is legitimate.
  • Don't give out card information by email. This is not secure.
  • Make sure the website you are using is secure before transmitting card information and keep anti-virus and anti-spyware systems up to date.
  • Notify the card company when you are going away on a trip. That way they will monitor the use of your card for any suspicious activity while you are away.

What are the other terms and conditions that you should be aware of while availing credit card?

We always advise our loan customers to read the fine print of the loan agreement before signing it and this holds true for a card as well. Banks do print the “terms and conditions” in the offer document with the credit card. However, with a long list of conditions printed in an extremely small font, customers are tempted to not read document carefully and rely on the sales pitch of the bank representatives which highlights the selling points only.
Some of the indicative terms that should be checked are:

  • Annual fees in the first year and at the time of renewal, especially if you opted for a discounted or no annual fee card.
  • Late payment charges in case you do not pay the minimum amount due before the due date.
  • Interest rate on the balance outstanding on credit card, in case you do not pay off your card bills.
  • Cash advance charges if you need to swipe your card at an ATM.
  • Charges for spending more than the prescribed credit limit.
  • Requirements of prescribing to add on insurance cover etc.
  • Other hidden late payment charges such as revocation of reward points and other benefits.

Why is it important to pay your card dues on time and settle all disputes quickly?

Deciding to use, pay and avail card can also have implications on your credit score. Your credit score is one of the most important factors that lenders consider while taking a credit lending decision and working out your eligibility. You should keep in mind the following factors related to your card spending habits, which can negatively impact your credit score.

  • If you frequently delay payments of your card dues and often borrow close to your credit limit.
  • If you have multiple cards on which you avail frequent credit. It is also difficult to manage and track your spends on multiple cards.
  • If you ignore or stretch a dispute with your card provider. Any delay in settlement with the lender can further be detrimental.

Bank offering Credit Cards in India


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