Cashback credit cards offer a straightforward way to save money on every purchase you make. By using these cards, you can earn a percentage of your spending back as cash, which can be used to offset your bill or for other purchases. In this article, we’ll explore the best cashback credit cards in India for 2024, highlighting their features, eligibility criteria, reviews, and ratings, as well as how you can make the most of their benefits. Read our in-depth guide to know whether these cards meet your cashback desires or not.
- Criteria for Choosing Cashback Credit Cards
- Top Cashback Credit Cards in India 2024
- Axis Bank ACE Credit Card
- Amazon Pay ICICI Bank Credit Card
- HDFC MoneyBack Credit Card
- Standard Chartered Super Value Titanium Credit Card
- SBI Card Elite
- YES Bank Prosperity Edge Credit Card
- Citibank Cashback Credit Card
- HSBC Cashback Credit Card
- IndusInd Bank Platinum Aura Credit Card
- Kotak Delight Platinum Credit Card
- Comparison of Best Cashback Credit Cards in India 2024
- FAQ
Criteria for Choosing Cashback Credit Cards
When selecting a cashback credit card, it’s important to consider the following factors:
- Cashback Rates: Look for cards that offer high cashback percentages, especially in the categories where you spend the most.
- Categories for Cashback: Some cards offer higher cashback on specific categories like groceries, fuel, or online shopping.
- Eligibility Criteria: Ensure you meet the income and credit score requirements for the card.
Top Cashback Credit Cards in India 2024
Axis Bank ACE Credit Card
Benefits:
- Welcome Offer: Cashback on first transactions
- Cashback: 5% on bill payments and recharges via Google Pay, 4% on Swiggy, Zomato, and Ola
- Additional Perks: 2% cashback on all other transactions, fuel surcharge waiver
Eligibility:
- Minimum annual income of ₹2 lakh
Review and Rating:
- Review: The Axis Bank ACE Credit Card is a standout for its high cashback rates on bill payments, recharges, and popular services like food delivery and ride-sharing. It’s a versatile card for everyday use.
- Rating: ★★★★☆ (4.5/5)
Amazon Pay ICICI Bank Credit Card
Benefits:
- Welcome Offer: 5% cashback on Amazon.in for Prime members, 3% for non-Prime members
- Cashback: 2% cashback on 100+ partner merchants using Amazon Pay
- Additional Perks: No joining or renewal fees, fuel surcharge waiver
Eligibility:
- Minimum annual income of ₹2.5 lakh
Review and Rating:
- Review: Perfect for frequent Amazon shoppers, especially Prime members, this card offers substantial cashback on Amazon purchases and a decent rate at partner merchants, making it a great choice for online shoppers.
- Rating: ★★★★☆ (4.5/5)
HDFC MoneyBack Credit Card
Benefits:
- Welcome Offer: E-vouchers on sign-up
- Cashback: 2 reward points for every ₹150 spent, 2x points on online spending
- Additional Perks: Cashback on reward points redemption, fuel surcharge waiver
Eligibility:
- Minimum annual income of ₹2 lakh
Review and Rating:
- Review: The HDFC MoneyBack Credit Card is designed for those who prefer earning cashback on their spending, particularly online. The ability to convert reward points into cash adds to its appeal.
- Rating: ★★★★☆ (4.3/5)
Standard Chartered Super Value Titanium Credit Card
Benefits:
- Welcome Offer: Cashback on first transactions
- Cashback: 5% on fuel spends, telephone bills, and utility payments
- Additional Perks: Fuel surcharge waiver, cashback credited directly
Eligibility:
- Minimum annual income of ₹3 lakh
Review and Rating:
- Review: A solid option for those with recurring expenses like fuel, utilities, and telephone bills. The direct cashback credit is convenient, making this card a practical choice for everyday use.
- Rating: ★★★★☆ (4.4/5)
SBI Card Elite
Benefits:
- Welcome Offer: E-gift vouchers worth ₹5,000 from premium brands
- Cashback: 2% cashback on grocery and departmental store purchases
- Additional Perks: Complimentary movie tickets, airport lounge access, milestone rewards
Eligibility:
- Minimum annual income of ₹10 lakh
Review and Rating:
- Review: Though on the premium side, the SBI Card Elite offers value through cashback on essential categories and additional lifestyle perks, making it suitable for high spenders who want luxury benefits.
- Rating: ★★★★☆ (4.2/5)
YES Bank Prosperity Edge Credit Card
Benefits:
- Welcome Offer: Nil
- Cashback: 1.5% cashback on online spends
- Additional Perks: Fuel surcharge waiver, dining offers, airport lounge access
Eligibility:
- Minimum annual income of ₹3 lakh
Review and Rating:
- Review: The YES Bank Prosperity Edge Credit Card offers modest cashback, but its real strength lies in additional perks like dining offers and lounge access, making it a well-rounded card for moderate spenders.
- Rating: ★★★★☆ (4.1/5)
Citibank Cashback Credit Card
Benefits:
- Welcome Offer: Cashback on movie ticket purchases
- Cashback: 5% cashback on movie tickets, utility bill payments, and telephone bill payments
- Additional Perks: 0.5% cashback on all other spends, cashback credited automatically on reaching ₹500
Eligibility:
- Minimum annual income of ₹2.5 lakh
Review and Rating:
- Review: Ideal for those looking to save on everyday expenses like movie tickets and utility bills. The automatic cashback credit feature is convenient, and the card consistently offers value.
- Rating: ★★★★☆ (4.0/5)
HSBC Cashback Credit Card
Benefits:
- Welcome Offer: 1.5% cashback on all spends during the first 90 days
- Cashback: 1% cashback on all transactions
- Additional Perks: No joining or renewal fees, fuel surcharge waiver
Eligibility:
- Minimum annual income of ₹4 lakh
Review and Rating:
- Review: A great choice for those who prefer simplicity, the HSBC Cashback Credit Card offers flat-rate cashback on all transactions with no annual fee, making it a straightforward and valuable option.
- Rating: ★★★★☆ (4.1/5)
IndusInd Bank Platinum Aura Credit Card
Benefits:
- Welcome Offer: Nil
- Cashback: 2% cashback on weekend spends
- Additional Perks: Complimentary airport lounge access, dining discounts, and concierge services
Eligibility:
- Minimum annual income of ₹4 lakh
Review and Rating:
- Review: This card stands out with its cashback on weekend spending, making it ideal for those who do most of their shopping on weekends. The additional lifestyle perks add to its overall value.
- Rating: ★★★★☆ (4.2/5)
Kotak Delight Platinum Credit Card
Benefits:
- Welcome Offer: Nil
- Cashback: 10% cashback on dining and movie spends
- Additional Perks: 1% fuel surcharge waiver, annual fee waiver on spending ₹1.25 lakh annually
Eligibility:
- Minimum annual income of ₹4 lakh
Review and Rating:
- Review: A perfect card for those who dine out frequently and enjoy movies. The high cashback rate on these categories, combined with the annual fee waiver, makes it a great option for lifestyle-focused users.
- Rating: ★★★★☆ (4.3/5)
Comparison of Best Cashback Credit Cards in India 2024
| Credit Card | Annual Fee | Cashback | Rating |
|---|---|---|---|
| Axis Bank ACE Credit Card | ₹499 | 5% on bill payments, recharges via Google Pay; 4% on Swiggy, Zomato, and Ola | ★★★★☆ (4.5/5) |
| Amazon Pay ICICI Bank Credit Card | None | 2% cashback on 100+ partner merchants | ★★★★☆ (4.5/5) |
| HDFC MoneyBack Credit Card | ₹500 | 2 reward points for every ₹150 spent, 2x points online | ★★★★☆ (4.3/5) |
| Standard Chartered Super Value Titanium Credit Card | ₹750 | 5% on fuel spends, telephone bills, utility payments | ★★★★☆ (4.4/5) |
| SBI Card Elite | ₹4,999 | 2% cashback on groceries and departmental store purchases | ★★★★☆ (4.2/5) |
| YES Bank Prosperity Edge Credit Card | ₹999 | 1.5% cashback on online spends | ★★★★☆ (4.1/5) |
| Citibank Cashback Credit Card | ₹500 | 5% cashback on movie tickets, utility bills, phone bills | ★★★★☆ (4.0/5) |
| HSBC Cashback Credit Card | None | 1% cashback on all transactions | ★★★★☆ (4.1/5) |
| IndusInd Bank Platinum Aura Credit Card | ₹999 | 2% cashback on weekend spends | ★★★★☆ (4.2/5) |
| Kotak Delight Platinum Credit Card | ₹1,000 | 10% cashback on dining and movie spends | ★★★★☆ (4.3/5) |
FAQ
What is a cashback credit card?
A cashback credit card offers a percentage of your spending back as cash. This cashback can either be used to offset your credit card bill or be redeemed for other rewards, depending on the card’s terms.
Do cashback credit cards have any hidden charges?
While cashback credit cards offer great benefits, it’s essential to be aware of potential charges like interest on carried balances, late payment fees, and foreign transaction fees. Always review the card’s terms and conditions.
How can I maximize cashback on my credit card?
To maximize cashback, use your credit card for purchases in categories that offer the highest cashback rates. Additionally, take advantage of any special promotions or offers from the card issuer.
Can I combine cashback with other rewards on my credit card?
Some credit cards allow you to earn both cashback and reward points on certain purchases, but this depends on the card issuer’s policies. Check the terms to understand how rewards are accrued.
How do I apply for a cashback credit card?
You can apply for a cashback credit card online through the bank’s website or by visiting the nearest branch. Make sure you meet the eligibility criteria, including income and credit score, before applying.
Can I have multiple cashback credit cards?
Yes, you can hold multiple cashback credit cards, each catering to different spending categories. This allows you to maximize your savings across various types of purchases.
