Best Credit Card in India for Beginners 2023: Analysis

Who’s the Best Credit Card in India 2023 Bank Bazaar vs Forbes FinBooster: YES Bank-BankBazaar Co-branded Credit Card IndusInd Bank Platinum Aura Edge    Prosperity Edge Credit Card RBL Shoprite Credit Card    Standard Chartered Platinum Rewards Credit Card    IndianOil Citi Credit Card HDFC Freedom Credit Card Axis Bank Neo Credit Card    Yatra SBI Credit Card    IndusInd Bank Platinum Car LIT Credit Card (AU Small Finance Bank) IDFC FIRST Millennia Credit Card Axis Bank ACE Credit Card Flipkart Axis Bank Credit Card SimplyCLICK SBI Credit Card Dhanlaxmi Bank Platinum Credit Card HDFC Millennia Credit Card American Express SmartEarn™ Credit Card HDFC Regalia Credit Card SBI SimplySAVE Credit Card.  When it comes to finding the best credit card in India, there are a lot of different options to choose from.  However, by looking at a list of the 10 best credit cards in India from Forbes and Bank Bazaar, you can’t get a good idea of which ones are the best.  There is a fully unmatched list & no one common between them. Like you, I was also confused, which of these credit cards to go for?  Then I did a deep analysis of these 20 credit cards. Out of these 20 credit cards, I liked only these 5 credit cards. Know More, Please Scroll Down

Find Best Credit Card in India January 2023 

Credit cards are not just a status symbol anymore. They are an important financial tool that can help you make purchases, earn rewards, and build your credit score. With so many credit cards available in India, it can be hard to decide which one is right for you.

There are a few things you should consider when choosing a credit card, such as the interest rate, annual fee, and rewards program. You’ll also want to make sure the card is accepted at most merchants in India.

If you’re looking for the best credit card in India, be sure to compare all of your options before making a decision. The right card for you will depend on your individual financial needs and spending habits.

1) Axis Bank ACE Credit Card

The Axis Bank ACE Credit Card is a great choice for anyone looking for a cash back card.

This card gives a 5% cash back on the payment of bills through Google Pay and the best part is that there is no limit to the amount of cash back you can earn. The only downside to this card is that it has an annual fee of INR 499 + taxes.

2) IDFC FIRST Millennia Credit Card

IDFC Bank has launched the FIRST Millennia Credit Card to provide cash backs on shopping and interest free credit for 48 days in India and internationally at the time of need.

The card is completely free and has no annual or joining fee making it even more attractive.

3) IndusInd Bank Platinum Aura Edge Visa Credit Card

IDFC FIRST Millennia Credit Card is a lifetime free credit card with no annual or joining fees. This makes it an ideal choice for first-time credit card users or those who want to avoid paying annual fees. 

The card offers a wide range of benefits including cashback, rewards and discounts on travel and shopping. It also comes with a built-in insurance cover which protects the card holder against theft, loss or damage to the card.

4) LIT Credit Card (AU Small Finance Bank)

LIT Credit Card from AU Small Finance Bank is a great way to manage your finances. With a validity period of 90 days and a low cost of INR 49 to INR 499 per cycle, it’s a great way to keep your finances in check. 

You can subscribe for a basket and pay each month, making it easy to stay on top of your expenses.

5) Dhanlaxmi Bank Platinum Credit Card

Dhanlaxmi Bank has come up with a new offer where you can get 5% cash back on all your supermarket and department store purchases.

This offer is valid for all Dhanlaxmi Bank Platinum Credit Card holders. This is a great opportunity to save some money on your everyday shopping. So, hurry up and avail this offer today.

Best Credit Card For Students

Credit cards are an important financial tool for college students. They can help build credit, manage expenses and earn rewards. But with so many options available, it can be hard to choose the right card. 

Here are 5 of the best credit cards for students, based on factors like rewards, fees and perks.

1. ICICI Coral Contactless Credit Card
2. SBI Student Plus Advantage Credit Card
3. ICICI Bank Student Forex Prepaid Card
4. Axis Bank Insta Easy credit card   
5. Kotak 811 Credit Card. 

Best Fuel Credit Card in India 

The best fuel credit cards in India are the BPCL SBI Card Octane, IndianOil Citibank Platinum Credit Card, IndianOil HDFC Credit Card, and IndianOil Axis Bank Credit Card HDFC Bharat Cash. 

These cards offer great rewards and benefits for fuel purchases made at any of the three major petrol companies in India. 

Each card has its own unique features and perks, making it easy to find the right one for your needs.

• BPCL SBI Card Octane     
• IndianOil Citibank Platinum Credit Card     
• IndianOil HDFC Credit Card   
• IndianOil Axis Bank Credit Card HDFC Bharat Cashback Credit Card   
• ICICI HPCL Coral Credit Card. 

Best Cashback Credit Card 

Best Cashback Credit Card in India: With the festive season underway, credit card companies are upping their game and offering attractive deals to woo customers. 

Here’s a look at some of the best cashback credit cards in India.

Axis Bank ACE Credit Card: This credit card offers 5% cashback on all Flipkart transactions. There is no upper limit on the cashback amount and the offer is valid till 31st December 2020.

HSBC Cashback Credit Card: This credit card offers 5% cashback on all retail purchases. The maximum cashback that can be earned in a month is Rs. 500 and the offer is valid till 30th September 2020.

HDFC Millennia Credit Card: This credit card offers 5% cashback on all spends above Rs. 1 lakh per month.

• Axis Bank ACE Credit Card
• Flipkart Axis Bank Credit Card
• HSBC Cashback Credit Card
• HDFC Millennia Credit Card
• Citibank Cashback Credit Card. 

Best Credit Card With No Annual Fee

An annual fee for a credit card can add up, especially if you carry a balance.

Here are few cards that have no annual fee: the Amazon Pay ICICI Credit Card, the ICICI Platinum Chip Credit Card, and the Dhanlaxmi Bank Platinum Credit Card.

The Amazon Pay ICICI Credit Card is a good choice for those who want to avoid an annual fee. 

This card has no annual fee and provides cash back on every purchase. There is also a 0% intro APR on balance transfers for the first 12 months.

The ICICI Platinum Chip Credit Card is another good option for those who don’t want to pay an annual fee. This card has no annual fee and offers a 0% intro APR on purchases and balance transfers for the first 12 months.

• Amazon Pay ICICI Credit Card
• ICICI Platinum Chip Credit Card
• Dhanlaxmi Bank Platinum Credit Card
• ICICI bank platinum chip credit card 
• IDFC First select credit card. 

Best Credit Card For Online Shopping

There are a few things to keep in mind while choosing the best credit card for online shopping. The first is the type of card- either a debit or credit card. 

Second is the limit on the card- how much can be spent in a day or month. Finally, consider the fees and charges associated with using the card.

Here are five of the best credit cards for online shopping, based on these factors:

Axis Bank Ace Credit Card: This debit card offers a cashback of 5% on online shopping transactions. There is no limit on the amount that can be spent in a day or month. Fees and charges are also minimal.

Axis Bank Buzz Credit Card: This credit card offers a flat rate of 5% cashback on all online purchases. There is no limit on spending, and fees and charges are also minimal.

• Axis Bank Ace Credit Card
• Axis Bank Buzz Credit Card
• HDFC MoneyBack Credit Card
• HSBC Cashback Credit Card
• HDFC Millennia Credit Card
• SBI SimplyCLICK Credit Card. 

Best Credit Card For Daily Use

If you are looking for the best credit card for daily use, there are many factors to consider. The first is what type of rewards you would like to receive. 

Do you want cash back, points towards travel, or something else? There are many different types of cards available, so make sure to compare the benefits before making a decision.

Another important factor is what kind of credit limit you need. If you only plan on using the card for small purchases, then a lower limit may be fine. 

However, if you think you may need to make larger purchases in the future, then a higher limit may be a better option. Again, it is important to compare the different options before making a final decision.

• YES Prosperity Reward Plus Card
• HDFC Diners Club Black Credit Card
• Amazon Pay ICICI Credit Card
• HSBC Cashback Credit Card
• SBI SimplySave Advantage Credit. 

Highest Cash Back Credit Card

The HDFC Millennia Credit Card is the highest cash back credit card available in India. It offers up to 5% cash back on all purchases, making it the perfect card for those who want to earn rewards on their everyday spending. 

In addition to the high cash back rate, the HDFC Millennia Credit Card also comes with a host of other benefits such as 0% interest on balance transfers and EMIs, fuel surcharge waiver, and access to exclusive events and offers. 

If you’re looking for a credit card that will give you maximum rewards on your spending, then the HDFC Millennia Credit Card is the perfect choice for you.

• HDFC Millennia Credit Card 
• Citibank Cashback Credit Card
• Axis Bank ACE Credit Card 
• Flipkart Axis Bank Credit Card 
• HSBC Cashback Credit Card.

How do credit cards work? The answer may surprise you!

Do you ever wonder how credit cards work? Most people have a general understanding that when you use a credit card, you’re borrowing money from a lending institution. But there’s more to it than that.

Here’s a look at how credit cards work and some of the things you should know about them.

When you use a credit card, you’re essentially borrowing money from a lender. The lender then pays the merchant for the purchase price of the item or service you’ve bought. You’ll then need to repay the lender, with interest, over time.

There are two main types of credit cards: revolving and non-revolving. Revolving credit cards allow you to borrow money up to a certain limit and then pay it back over time, with interest.

The must-know credit card terms before your next purchase

When it comes to credit cards, there are a few key terms that you should know before making your next purchase. Here are a few of the most important credit card terms to keep in mind:

Annual Percentage Rate (APR): This is the interest rate that is charged on your credit card balance each year. 

It’s important to know what your APR is so that you can budget for any interest charges that may accrue.

Credit Limit: This is the maximum amount of money that you can charge to your credit card in a given billing period. It’s important to stay within your credit limit so as not to incur any fees or damage your credit score.

Balance: This is the outstanding amount of money that you owe on your credit card at any given time.

How does credit card interest work? You may be surprised by the answer

When you carry a balance on your credit card, you are charged interest. This is how credit card companies make money. 

You may be surprised to learn that you are actually charged interest on the entire balance of your credit card, not just the amount you spent that month.

Here’s an example: Let’s say you have a credit card with a $1,000 limit and you carry a balance of $500. You will be charged interest on the entire $500, even if you only spent $50 that month.

Interest is typically calculated daily and is added to your balance at the end of each billing cycle. So, if you have a balance of $500 and an annual percentage rate (APR) of 15%, you will be charged $0.42 in interest every day.

How do credit card rewards work? What to know about

Credit card rewards can be a great way to save money on everyday purchases. But how do they work? And what should you know about before signing up for a rewards credit card?

Here’s a quick rundown of how credit card rewards work: When you use your credit card to make a purchase, you earn rewards points. 

The number of points you earn depends on the type of credit card and the purchase you make. For example, you might earn 1 point for every $1 spent on groceries with your credit card.

Once you’ve earned enough points, you can redeem them for cash back, gift cards, or other prizes. Some credit cards also let you transfer your points to airline miles or hotel loyalty programs.

Before signing up for a rewards credit card, there are a few things to keep in mind.

The Pros and Cons of Using Credit Cards

Pros: 

1. You can buy things you may not be able to afford otherwise
2. Helps with credit score and building credit
3. Convenient 
4. Can offer rewards or cash back 
5. Protection against fraud. 

Cons: 

1. High interest rates 
2. Temptation to overspend 
3. Can damage your credit score if used irresponsibly 
4. Annual fees 
5. Risk of identity theft. 

Still using cash? Learn the advantages of using credit cards

Do you still use cash? If so, you may want to consider switching to credit cards. Credit cards offer a number of advantages over cash.

For one, credit cards are more convenient than cash. You don’t have to worry about carrying around a lot of cash or making sure you have enough to cover your purchases. All you need is your card and you’re good to go.

Credit cards also offer rewards and perks that cash can’t match. Many cards offer rewards points that can be redeemed for travel, merchandise, or cash back. 

Some cards also offer discounts at certain stores or on certain types of purchases.

Finally, credit cards can provide a measure of protection against fraud and theft that cash cannot. If your card is lost or stolen, you can report it to the issuer and get a replacement card.

Learn about the different types of credit cards

Credit cards are a great way to build credit and earn rewards, but there are many different types of credit cards available.

It can be difficult to decide which credit card is right for you. Here is a guide to the different types of credit cards:

1. Secured Credit Cards: A secured credit card requires a deposit, which is used as collateral in case you default on your payments. This makes secured cards ideal for people with bad or no credit history.

2. Unsecured Credit Cards: An unsecured credit card does not require a deposit, making it more accessible than a secured card. However, unsecured cards usually have higher interest rates and may require good or excellent credit for approval.

3. Balance Transfer Cards: A balance transfer card allows you to transfer the balance of another credit card onto the new card.

The best way to choose a credit card

There are many factors to consider when choosing a credit card. Here are a few tips to help you choose the best credit card for your needs:

1. Know your spending habits. If you tend to spend a lot on gas or groceries, look for a credit card that offers cash back or rewards points on those purchases.

2. Consider your interest rate. If you carry a balance on your credit card, you’ll want to look for a card with a low interest rate.

3. Compare annual fees. Some cards charge an annual fee, while others do not. Make sure to compare the fees before deciding which card is right for you.

4. Read the fine print. Be sure to read all of the terms and conditions before applying for a credit card. This will help you avoid any surprises down the road.

5. Shop around.

Want a credit card? Follow these 3 steps

If you want a credit card, follow these three steps. First, research the different types of credit cards available to find the one that best suits your needs. 

Second, compare the interest rates, annual fees, and other terms and conditions of different credit cards to find the best deal. 

Third, apply for the credit card online or in person at a bank or credit union. Once you have been approved for the card, you can start using it right away.

FAQs  Question (1) What are the risks associated with using a credit card? Answer – The risks associated with using a credit card are numerous. First, if you are not careful with your spending, you can easily rack up a large amount of debt.  Second, if you lose your credit card or it is stolen, you are responsible for any fraudulent charges that are made.  Third, many credit cards have high interest rates, which can make it difficult to pay off your balance.  Finally, if you miss a payment or make a late payment, you will be charged additional fees. Question (2) How do I apply for a credit card? Answer – The application process for a credit card typically involves filling out an online form or submitting a physical form to the credit card company.  The form will request basic personal information, such as your name, address, and Social Security number, as well as information about your employment and income.  Once the form is complete, the credit card company will use this information to determine whether or not you are eligible for a credit card and, if so, what kind of credit limit you may be approved for. Question (3) How do I choose the right credit card for me? Answer – There are a few things to consider when choosing a credit card. First, what is your credit score?  If you have excellent credit, you’ll likely be approved for a card with great rewards and a low interest rate.  If you have good or fair credit, you may still be approved for a rewards card, but you’ll likely have a higher interest rate. Second, what are your spending habits? Question (4) What is a credit card and why is it used? Answer – A credit card is a plastic card that gives the cardholder a line of credit with which to make purchases or withdraw cash.  Credit cards are used for a variety of reasons, including convenience, emergency funding, and building credit history.

Conclusion Points 

In conclusion,the best credit card in India for beginners depends on the individual’s needs and preferences. Some people may prefer a card with no annual fee, while others might prefer a card with rewards. 

There is no one-size-fits-all answer, but there are plenty of options to choose from. Whatever the individual’s needs may be, there is a credit card out there that is perfect for them.