In today’s world, having a credit card has become a necessity. It not only provides the convenience of cashless transactions but also offers various rewards and benefits. However, with numerous credit cards available in the market, it can be overwhelming to choose the right one. Hence, it becomes crucial to compare credit cards india before selecting one.
When you compare credit cards in India, you should consider various factors such as interest rates, fees and charges, rewards and benefits, credit limit, and eligibility criteria. Let us discuss these factors in detail to help you choose the right credit card.
Interest Rates:
Interest rates on credit cards can vary from one card to another. Typically, the interest rate on credit cards ranges from 24% to 48% per annum. However, some cards offer a lower interest rate for a limited period. You should compare credit cards in India based on the interest rate offered and choose the one that suits your financial needs.
Fees and Charges:
Credit cards come with various fees and charges such as annual fees, late payment fees, over-limit fees, cash withdrawal fees, etc. It is essential to compare credit cards in India based on the fees and charges associated with them. Some credit card offers zero annual fees for the first year or waive the annual fees if you spend a certain amount. Choose the credit card that has lower fees and charges as it can help you save money in the long run.
Rewards and Benefits:
Credit cards come with various rewards and benefits such as cashback, reward points, discounts, and offers on dining, shopping, and travel. When you compare credit cards in India, you should consider the rewards and benefits offered by them. Choose a credit card that offers rewards and benefits that match your lifestyle and spending habits.
Credit Limit:
Credit limit is the maximum amount that you can spend on your credit card. It is determined based on your credit score, income, and credit history. When you compare credit cards in India, you should consider the credit limit offered by them. Choose a credit card that offers a higher credit limit as it can help you meet your financial needs.
Eligibility Criteria:
Before applying for a credit card, you should check the eligibility criteria. The eligibility criteria for credit cards can vary from one card to another. It is essential to compare credit cards in India based on the eligibility criteria and choose the one that matches your profile.
Now that we have discussed the factors to consider when you compare credit cards in India, let us look at some of the popular credit cards in India.
HDFC Bank Regalia Credit Card:
HDFC Bank Regalia Credit Card is one of the popular credit cards in India. It offers a high credit limit, airport lounge access, reward points on every transaction, and discounts on dining, shopping, and travel. The annual fees for the HDFC Bank Regalia Credit Card is INR 2,500, and the interest rate is 24% per annum.
Also Read: What Credit Score Do You Need To Get the best Credit Card Rewards
ICICI Bank Coral Credit Card:
ICICI Bank Coral Credit Card is another popular credit card in India. It offers reward points on every transaction, discounts on dining, shopping, and travel, and movie benefits. The annual fees for the ICICI Bank Coral Credit Card is INR 500, and the interest rate is 40.80% per annum.
SBI SimplyCLICK Credit Card:
SBI SimplyCLICK Credit Card is a popular credit card among online shoppers. It offers reward points on online shopping, dining, and entertainment. The annual fees for the SBI SimplyCLICK Credit Card is INR 499, and the interest rate is 40.20% per annum.
Axis Bank Flipkart Credit Card:
Axis Bank Flipkart Credit Card is another popular credit card among online shoppers. It offers reward points on Axis Bank Flipkart Credit Card
Axis Bank Flipkart Credit Card is a co-branded credit card that offers rewards and benefits for shopping on Flipkart. It offers 5% cashback on Flipkart purchases, 4% cashback on dining and food orders, 1.5% cashback on all other spends, and 1% fuel surcharge waiver. The annual fee for the Axis Bank Flipkart Credit Card is INR 500, and the interest rate is 41.75% per annum.
The Axis Bank Flipkart Credit Card also offers welcome benefits, such as a Flipkart voucher worth INR 500, and a MakeMyTrip voucher worth INR 2,000. The card also comes with milestone benefits such as a Flipkart voucher worth INR 500 on spending INR 2,000 on non-Flipkart transactions, and a voucher worth INR 1,000 on spending INR 1 lakh in a year.
One of the unique features of the Axis Bank Flipkart Credit Card is the Flipkart Plus membership. Cardholders get complimentary Flipkart Plus membership, which offers benefits such as free and fast shipping, early access to sales, and priority customer support. The membership is usually available for a fee of INR 299 per year, but Axis Bank Flipkart Credit Cardholders get it for free.
When you compare credit cards in India, the Axis Bank Flipkart Credit Card is an excellent choice for online shoppers who frequently shop on Flipkart. The 5% cashback on Flipkart purchases is a significant benefit that can help you save money on your purchases. Additionally, the dining and food cashback and fuel surcharge waiver are useful benefits for everyday spends.
In conclusion, comparing credit cards in India is essential to choose the right credit card that matches your financial needs. When you compare credit cards in India, consider factors such as interest rates, fees and charges, rewards and benefits, credit limit, and eligibility criteria. The HDFC Bank Regalia Credit Card, ICICI Bank Coral Credit Card, SBI SimplyCLICK Credit Card, and Axis Bank Flipkart Credit Card are some of the popular credit cards in India. Choose the credit card that offers benefits that match your lifestyle and spending habits to get the maximum value from your credit card.
