Thus, these credit cards incentivize spending while allowing you to earn money on everyday transactions. The importance of cashback credit cards lies in the financial benefits they extend. By utilising these credit cards for everyday purchases, you can accumulate cash rewards that you can use to redeem against your credit card statement or to offset future purchases.
Hence, these credit cards empower you to make the most of your spending, allowing you to earn money back and budget your expenses better. If you’re considering applying for a cashback credit card, we look closely at five of the best credit cards in India that offer cashback benefits.
Cashback SBI Card
The first credit card on our list is the SBI credit card, which offers the highest cashback rate on online spending than other cards in the market. Furthermore, there are no merchant restrictions; hence, you earn cashback on different platforms. These aspects make it one of the most popular and sought-after credit cards for online shopping. Another feature that works in its favour is the fact that the cashback redemption procedure is straightforward, as the cashback is directly credited to the card account.
This SBI credit card’s key features and benefits include the following.
- Earn 5% cashback on online spending (no merchant restriction).
- Earn 1% cash back on offline transactions and utility bill payments.
- Renewal fee reversal on annual spends of ₹2 Lakhs.
- Get a 1% fuel surcharge waiver across petrol pumps nationwide (applicable on transactions of ₹500 – ₹3,000).
Axis Bank ACE Credit Card
With the Axis Bank ACE credit card, you get a flat-rate cashback of 2%. Moreover, it provides up to 5% cashback on DTH, bill payments, and mobile recharges through Google Pay. You also get a cashback of 4% on spends made on certain merchants, such as Swiggy, OLA, and Zomato. Given its nominal renewal fee, it is one of the best entry-level cashback credit cards in the country.
Here are some of its key features and benefits.
- Earn cashback of 5% on bill payments (electricity, internet, gas, etc.), DTH, and mobile recharges via Google Pay.
- Earn cashback of 4% on Swiggy, Zomato, and OLA.
- Earn cashback of 2% on all other spends.
- Get a 1% fuel surcharge waiver on fuel purchases at fuel stations across the country (valid on transactions between ₹400 and ₹4,000).
- Enjoy 4 complimentary lounge access at select domestic airports per calendar year.
Flipkart Axis Bank Credit Card
If you frequently shop from Flipkart or Myntra, the Flipkart Axis Bank credit card will provide you with numerous benefits. This cashback credit card covers three popular categories – shopping, lifestyle, and travel. Additionally, this card is more practical, as it can be used on partner merchants that are among the most popular in their respective categories.
The features and benefits of this credit card are highlighted below.
- Earn cashback of 5% on Flipkart and Myntra.
- Earn cashback of 4% on preferred merchants, such as Cleartrip, Cult.fit, PVR, Swiggy, Tata Play, and Uber.
- Earn cashback of 1.5% on all other categories.
- Get ₹1,100 worth of joining and activation benefits.
- Enjoy 4 complimentary lounge access at select domestic airports per calendar year.
- Get cashback of 15% up to ₹500 on your first transaction on Myntra using this credit card.
Amazon Pay ICICI Bank Credit Card
Similar to the Flipkart Axis Bank credit card, the Amazon Pay ICICI Bank credit card is perfect for you if you frequently shop on Amazon. Additionally, this cashback credit card comes without any joining or annual fee. With this card, you can also enjoy other privileges like dining benefits and No Cost EMI facility.
Some of its important features and benefits are outlined below.
- Earn cashback of 5% on Amazon (if you have an Amazon Prime membership).
- Earn cashback of 3% on Amazon (if you are not an Amazon Prime customer).
- Earn cashback of 2% on 100+ partner merchants.
- Earn cashback of 1% on all other transactions.
- Get a 1% fuel surcharge waiver on fuel purchases at fuel stations nationwide.
HDFC Millennia Credit Card
The last cashback credit card on this list is the HDFC Millennia credit card. It offers numerous benefits across multiple categories, such as online shopping and travel. While it comes with an annual fee of ₹1,000, it can be waived if your annual spending reach or exceed ₹1 Lakh.
The following are the key highlights and benefits of this credit card.
- Earn cashback of 5% on Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Swiggy, Sony LIV, Tata CLIQ, Zomato, and Uber.
- Earn cashback of 1% on all other spends (except fuel).
- Get up to 20% discount on partner restaurants via Swiggy Dineout.
- Get gift vouchers worth ₹1,000 on spending over ₹1 Lakh each calendar quarter.
- Get a 1% fuel surcharge waiver at fuel stations across the country (valid on transactions between ₹400 and ₹5,000).
Conclusion
You can enjoy cashback and other benefits by opting for any of the above-mentioned cashback credit cards. While the SBI credit card provides cashback on all online spending, the Flipkart Axis Bank and the Amazon Pay ICICI Bank credit cards offer benefits while shopping on specified platforms. Depending on your shopping or spending habits, you can choose a credit card that extends the maximum benefits and is relevant to your needs.
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