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Cashback Credit Card

Best Cashback Credit Cards

Last Updated 22nd May 2022

  • Cashback credit cards offer extra cashback or rewards on spending on selected categories.

Some of the best cashback credit cards offered by top lenders are:

Bank Cashback Credit Cards
Axis Bank My Business Card, My Choice Card, My Wings Card, My Zone Card
ICICI Bank Emeralde Credit Card, HPCL Platinum Card
Citibank Cashback Card, Rewards Card
HSBC Bank Visa Platinum Card
Standard Chartered Bank Manhattan Platinum Card, Super Value Titanium Card, Ultimate Card, Yatra Platinum Card
HDFC Bank Freedom Card, Moneyback Card, Platinum Edge Card
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What is a Cashback Credit Card?

A cashback credit card earns you a cash reward rather than loyalty points or miles while using a cashback Credit Card The amount you receive depends on the bank that issued your Cash Back Credit Card; you may get between 1% and 5% of your expenses. The cashback amount depends on where the card is being used and the type of cashback credit card. There are currently three types of cashback credit card popular nowadays. These types are Flat rate, Tiered and Bonus category cash back credit card.

A card launched by Axis Bank for the frequent flyers. A cardholder can enjoy two complimentary flights in a year at a base rate. The other benefits which are cashback on bookings from IRCTC railway tickets, bus tickets and flight tickets.

As the name suggests the card is customised according to the needs of a borrower. The card helps cardholder earn reward points and cash back and it is the safest card as it comes with EMV Chip.

My Business Credit Card offered by Axis Bank comes with a plethora of benefits for daily transactions like reward points, cash back on hotel, flight etc.

Super Value Titanium Card is one of the best cashback cards which offers 5% cashback on fuel spends across all fuel stations, on telephone bill payments, and on utility bill payments. The Standard Chartered credit card offers 5x Reward Points to its premium banking customers and a complimentary Priority Pass to airport lounges,

Another great cashback card by Standard Chartered is the Manhattan Platinum card which uses Visa network for the payments. This card helps you save on your expenses by offering 5% cashback and 3x reward points when you spend at supermarkets. You can also enjoy a host of offers and discounts across shopping, travel, dining and more with exclusive offers on this card.

HSBC Visa Platinum Credit Card is a rewards and cashback card with zero joining and annual fee. The HSBC Credit card offers cashback, rewards, and discounts on flights, dining, hotels, telecom and BOGO offer on BookMyShow and this VISA card is accepted in more than 200 countries.

The Freedom card offers unlimited benefits in the form of Reward Points. The card offers 5x Reward Points on dining, movies, railways, grocery and online spends with fuel surcharge waiver.

ICICI Emeralde credit card is a package of tons of benefits and rewards. It is specially designed for premium customers who love to travel, dine and shop. The card comes as an American Express Credit Card.

Best Cashback Credit Cards in India for 2022

Cashback Credit card Annual Fee Interest Charges
Rewards Card ₹ 1,000 2.50%
Cashback Card ₹ 500 2.50%
My Wings Card Nil 2.95%
My Choice Card ₹ 250 3.25%
My Zone Card ₹ 500 3.40%
My Business Card ₹ 250 3.25%
Super Value Titanium Card ₹ 750 3.49%
Ultimate Card ₹ 500 3.49%
Manhattan Platinum Card ₹ 999 3.49%
Yatra Platinum Card ₹ 499 3.49%
Visa Platinum Card Nil 3.35%
HPCL Platinum Card Nil 3.40%
Platinum Edge Card ₹ 500 3.40%
Freedom Card ₹ 500 3.40%
Moneyback Card ₹ 500 3.40%
Emeralde Credit Card ₹ 12,000 1.99%

Rewards Card

Some of the features associated with Rewards Card are listed as follows:

  • Reward points are evergreen and will never expire
  • Reward points can be redeemed against shopping at selected outlets, gift voucher, fuel, air miles and card outstanding
  • Get 1,500 bonus points on first spend made within 30 days of card issue
  • Get 2,500 points on Card activation
  • Up to 15% savings across participating restaurants

Cashback Card

Some of the features associated with Cashback Card are listed as follows:

  • Get redemption in multiple of ₹ 500
  • Save upto multiples of ₹500
  • Up to 15% savings across participating restaurants
  • Exciting offers on leading brands across categories with Citi credit cards
  • Get your cash back conveniently and automatically as statement credit

My Wings Card

A card launched by Axis Bank for the frequent flyers. A cardholder can enjoy two complimentary flights in a year at a base rate. The other benefits which are cashback on bookings from IRCTC railway tickets, bus tickets and flight tickets. Some of the features associated with My Wings Card are listed as follows:

  • Use ezeego1.com and redeem your 2 complimentary flight tickets
  • Travel easy with hotel and holiday vouchers worth ₹10,000
  • Book bus tickets with ease and get cashback ₹ 100
  • ₹ 400 cash back on booking any car rentals in India.
  • Get ₹ 25 off everytime you book your tickets with My Wings Credit Card on www.irctc.com

My Choice Card

As the name suggests the card is customised according to the needs of a borrower. The card helps cardholder earn reward points and cash back and it is the safest card as it comes with EMV Chip. Some of the features associated with My Choice Card are listed as follows:

  • Design the card on your own with an image of your choice to be recognised at the time of payment with card
  • 5% cashback on any 2 of the following: Dining, Fuel, Electronics, Utility Bills, Travel and Supermarkets
  • The eDGE reward points thus collected can be exchanged in lieu of various gifts and rewards.
  • Exclusive cash back of 5% is available on any 2 expense categories of your choice.

My Zone Card

Some of the features associated with My Zone Card are listed as follows:

  • Offers highest level of security, enabled with chip and pin facility for easy fraud detection
  • Enjoy complimentary access to airport lounges within India
  • Shop at apparel stores, departmental stores and supermarkets on weekends and get 5 times the eDGE loyalty rewards points
  • Exciting offers on movie ticket bookings, dining, shopping etc

My Business Card

My Business Credit Card offered by Axis Bank comes with a plethora of benefits for daily transactions like reward points, cash back on hotel, flight etc. Some of the features associated with My Business Card are listed as follows:

  • Welcome gift from BookMyShow worth ₹ 300
  • 10% off every time you book a movie ticket through BookMyShow
  • 10% off every time you book bus tickets through redBus, maximum monthly benefits up to 100
  • 10% cashback on mobile recharge through Freecharge mobile app, monthly benefits up to 30
  • Jabong gift voucher worth 500

Super Value Titanium Card

Super Value Titanium Card is one of the best cashback cards which offers 5% cashback on fuel spends across all fuel stations, on telephone bill payments, and on utility bill payments. The Standard Chartered credit card offers 5x Reward Points to its premium banking customers and a complimentary Priority Pass to airport lounges, Some of the features associated with Super Value Titanium Card are listed as follows:

  • Earn 1 reward point for every ₹150 spent where 1 reward point = ₹0.30.
  • Get 5% cashback on fuel, phone and utility bills
  • Complimentary Priority Pass allowing access to 1000+ airport lounges worldwide with one free usage per month
  • Bookmyshow vouchers worth ₹1,000. Terms & Conditions apply
  • Annual fee waiver on spending ₹ 60,000 and more in a year

Ultimate Card

Some of the features associated with Ultimate Card are listed as follows:

  • Earn 5 reward points on every ₹150 spent and get maximum benefit with 1 reward point equal to ₹ 1
  • Get complimentary air accident travel insurance worth ₹1 crore
  • Get complimentary Priority Pass membership of VIP airport lounges
  • Enjoy reduced foreign currency markup fee at 2%* on overseas spends
  • Enjoy a cashback of up to ₹10,000 while booking tickets on MakeMyTrip within 90 days of card issuance, upon the payment of joining fees

Manhattan Platinum Card

Another great cashback card by Standard Chartered is the Manhattan Platinum card which uses Visa network for the payments. This card helps you save on your expenses by offering 5% cashback and 3x reward points when you spend at supermarkets. You can also enjoy a host of offers and discounts across shopping, travel, dining and more with exclusive offers on this card. Some of the features associated with Manhattan Platinum Card are listed as follows:

  • Redeem your reward points for multiple exciting offers
  • Pay your bills from BillDesk, NEFT/ IBFT, VISA money transfer, net banking, ECS
  • Enjoy a host of offers and discounts across shopping, travel, dining and more
  • Annual fee waiver on spending ₹60,000 or more in a membership year.

Yatra Platinum Card

Some of the features associated with Yatra Platinum Card are listed as follows:

  • Book your travels with yatra.com and enjoy the benefits of cashback, rewards, fuel surcharge waiver and more
  • Enjoy a host of discounts and offers across dining, shopping, travel and more
  • Welcome gift of travel vouchers worth ₹4,000 from yatra.com
  • Avail 20% cashback on all Uber rides, capped to ₹600 in a month. However, for this to avail, the total monthly spends in a calendar month have to be more than ₹ 15,000.

Visa Platinum Card

HSBC Visa Platinum Credit Card is a rewards and cashback card with zero joining and annual fee. The HSBC Credit card offers cashback, rewards, and discounts on flights, dining, hotels, telecom and BOGO offer on BookMyShow and this VISA card is accepted in more than 200 countries. Some of the features associated with Visa Platinum Card are listed as follows:

  • Maximum Cashback upto ₹3000 with a minimum spend amount of ₹ 10,000 across 9 transactions
  • Get a ₹ 2000 ClearTrip voucher on first transaction of any amount
  • 2 Reward points for every ₹ 150 spent

HPCL Platinum Card

Some of the features associated with HPCL Platinum Card are listed as follows:

  • Discounts applicable at 800 leading reastaurants across citites in India courtesy its treats program
  • Spend 50,000 or more annually and get joining fee of ₹199 reversed for that year
  • Earn 2 PAYBACK Points on every ₹100 spent on retail purchases except fuel

Platinum Edge Card

Some of the features associated with Platinum Edge Card are listed as follows:

  • Enjoy 5% Cashback on EasyEMI/ SmartBUY/ PayZapp spends
  • Enjoy spending on Bharat Credit Card with 5% Cashback on IRCTC/ Bill Payment/ Fuel
  • 2 Reward Points on ₹ 150 spends. 50% more rewards on dining spends.

Freedom Card

Some of the features associated with Freedom Card are listed as follows:

  • Enjoy spending on your Freedom Credit Card with 5X reward points on Dining/Movies/Groceries/Railways /Taxi
  • Zero Lost Card liability post reporting of the loss of card
  • Redeem points for CashBack or Catalogue
  • EasyEMI and e-wallet loading transactions will not accrue Reward points
  • Get Renewal fee waived on spends of ₹60,000 in a year prior to renewal date.

Moneyback Card

Some of the features associated with Moneyback Card are listed as follows:

  • 2 Reward Points (RP) on ₹150 spent. 2 X Reward Points on online spends
  • Redeem Reward points as CashBack
  • Zero Lost Card liability post reporting of the loss of card

Emeralde Credit Card

ICICI Emeralde credit card is a package of tons of benefits and rewards. It is specially designed for premium customers who love to travel, dine and shop. The card comes as an American Express Credit Card. Some of the features associated with Emeralde Credit Card are listed as follows:

  • Enjoy movie tickets at BookMyShow
  • Earn 4 reward points at every ₹100 spent
  • Enjoy complimentary golf session on spending ₹50,000 or more
  • Free access to domestic and international airport lounges

How to select the best cashback credit card?

Significant factors you should consider while choosing the best cashback credit card are as follow:

  • Credit card spending pattern: Check your expenses and calculate how much you pay for the food, movies, shopping, etc. from your monthly budget. Based on that, individuals must choose a credit card that offers maximum cashback benefits on specific categories. For instance, if you use your credit card majorly for shopping, you may go for a credit card that offers the most benefits on shopping.
  • Credit card payment pattern: Your payment behaviour is the critical criteria while choosing the best credit card. To avoid an excessive interest rate, you must ensure that you pay your credit card dues timely every month. There's no particular incentive of having a cashback credit card if you don't make payments on time as the accumulated interest will wash away these advantages.
  • Fee and charges: You must be aware of each card's charges when applying for a cashback Credit Card. Compare the cards online and decide if the card suits your requirements. A card may offer very enticing discounts, cashback and rewards, but monthly premiums, annual fees, subscription fees and other costs can be very high. This will make the cashback you received on spending redundant.
  • Your income: If you have a credit card that might significantly raise your cost and maybe put you into debt, then you should take good note of your monthly net income. It will help if you plan your spending. If you are sure that you can pay your credit card bills regularly then only you should go for it.

Eligibility Criteria for Cashback Credit Card

The eligibility criteria for a cashback credit card is:

  • The age of applicants should be between 0 to 30 years.
  • They should be an Indian resident or a Non-Resident Indian.
  • They should have a permanent monthly income.
  • They must have an excellent CIBIL score above 750.

Cashback Credit Card Benefits

Some of the benefits of cashback credit card are:

  • Avail direct and immediate discount/cashback on the shopping value.
  • You can convert your transactions into convenient EMIs.
  • Cashback credit cards allow you to redeem cashback/discount hassle-free and automatically.
  • Avail of special discounts on bills payment, travel, movies.
  • Applicants should choose a card offering a higher discount on categories they are likely to spend the most.

FAQs

Is a cash back credit card really worth it?

If you are sticking to your budget, paying your monthly balance on time and if your transactions do not attract any penalty charges, then a cashback credit card can be very beneficial.

Can you earn cashback with a credit card?

Yes, you can get a cashback on the purchases made through the credit card.

Is it better to get cash back or points?

Cashbacks are flexible and easily redeemable, while points or miles may sway the chances of paid-for holidays and more excellent reward value per rupee spent. Also, some cards now allow redeeming points and rewards for cash.

Should you redeem points for cash?

Yes, you should redeem the points for cash back because the value might decrease due to inflation. Card issuers also put a deadline till when you can convert the points or miles to cash. And if the funds would not lose any of their worth year by year, holding it makes no sense.

Can reward points be converted to cash?

Once the points or rewards offered to you, some credit cards offer to convert the points into cash.


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*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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