List of 5 Best Credit Cards in India for 2022

List of 5 Best Credit Cards in India for 2022

Having a credit card is a great way to manage your finances during a cash crisis. It allows you to access funds, make purchases, and repay the amount at a later stage. The best part is that credit cards are widely accepted and offer great financial freedom if used judiciously.

If you are new to credit cards, keep on reading to know more about them and their benefits.

What is a credit card?

A credit card is a plastic or metal card, issued by a financial institution, such as a bank, that serves as a cashless payment tool. It functions on the principle of borrowed funds and gives you access to money that you didn’t actually earn. While you can use it to buy items now and pay for them later, you must pay back the amount within the due date. If you are unable to do so, you will be charged interest on the monthly balance that is carried forward till the dues are cleared. It is important to know that there is a limit to the amount you can borrow using the card. This limit is approved by the bank post considering several factors and is known as the credit limit.

#1) Axis Bank Ace Credit Card

This card has a number of welcome benefits and you can realize your fee for the card in the first year just by using those welcome benefits. It is not very different from the Axis Bank ACE Card except in the number of welcome benefits.

Joining Fee: Rs. 499 (Reversed on spending Rs. 10,000 in the first 45 days)
Renewal Fee: Rs. 499 (Reversed on spending Rs. 2 Lakh or more in the preceding year)
Minimum Income: Communicated at the time of sourcing

Features and Benefits:

  • 5% Cashback on: Bill payments (electricity, internet, gas and more), DTH and mobile recharges through Google Pay
  • 5% Cashback on: BigBasket and Grofers (till 31st Dec 2020)
  • 4% Cashback on: Swiggy, Zomato and Ola
  • 2% Cashback on: all other spends (except fuel, emi, wallet loads)
  • Lounge Access: 4 complimentary lounge access per year

5% category without any max. cap is very generous and also 2% cashback on all other spends is mind blowing to see on an entry-level credit card.

#2) Flipkart Axis Bank Credit Card

Flipkart Axis Bank credit card is probably one of the best credit cards for shopping online. Apart from 5% cashback on Flipkart and Myntra, cardholders can also get 4% cashback on Swiggy, Uber, PVR and The card also provides unlimited cashback of 1.5% on all other spends. If you shop often on the brands mentioned above, this card can be very beneficial for you. Other benefits of this card are mentioned below

Annual Fee: Rs. 500
Renewal Fee: Rs. 500 (waived off on spending Rs. 2 lakh in the preceding year)
Minimum Income Requirement: Rs. 15,000 p.m. for salaried and Rs. 30,000 p.m. for self-employed

Features and Benefits:

  • INR 500 worth Flipkart vouchers on your first transaction with your Flipkart Axis Bank credit card.
  • Get 15 months Gaana plus at a discounted price of INR 399.
  • 20% off up to INR 500 on The Phy Life.
  • 20% off up to INR 500 on Plum Goodness.
  • 15% cashback up to INR 500 on your first transaction on Myntra using Flipkart Axis Bank credit card.

#3) HDFC Millennia Credit Card

The HDFC Millennia Credit Card was relaunched on October 1,2021. New features have been added to make the card easy-to-use and also provide a new look. Cards issued hereafter will have the renewed features discussed in our review. The bank has partnered with some of the most prominent brands in the market to offer CashPoints worth 5% of the spending on each purchase, which makes it unique

Joining Fee: Rs. 1,000
Annual Fee: Rs. 1,000 (waived off on spending Rs. 1 Lakh in the preceding year)
Minimum Income Requirement: Rs. 35,000 for salaried and Rs. 6 Lakh for self-employed

Features and Benefits:

  • 5% Cashback on Amazon, Flipkart, Myntra, Swiggy, Zomato, Tata CliQ, Sony LIV, BookMyShow, and Uber
  • 1% cashback on all other spends (except fuel)
  • Rs. 1,000 gift voucher on spending Rs. 1 lakh in a quarter
  • 8 complimentary lounge accesses every year limited to 2 visits every quarter
  • Welcome benefit of 1000 cashpoints on payment of the joining fee
  • 1 Cashpoint is equivalent to Rupee 1
  • 1% fuel surcharge waiver at all fuel stations across India

#4) HDFC Regalia Credit Card

Joining Fee: Rs. 2,500 + GST
Renewal Fee: Rs. 2,500 + GST (waived-off on spending Rs. 3 Lakh in the previous calendar year)
Minimum Income Required: Rs. 1 lakh per month

Features and Benefits:

  • 12 complimentary domestic airport lounge access every calendar year
  • Up to 6 international lounge access every year for self and add-on members under Priority Pass Membership
  • 24×7 travel concierge service for booking, travel, late-night deliveries, etc.
  • Priority dining facility under Good Food Trail dining program at top restaurants across the country
  • 4 Reward Points on every Rs. 150 spent on all retail spends including utility bills, insurance, education, rent, etc.
  • 10,000 Reward Points on spending Rs. 5 Lakh on the card and additional 5,000 points on reaching the
  • milestone spends of Rs. 8 Lakh
  • 1% fuel surcharge waiver on all transactions between Rs. 400 and Rs. 5,000 at all petrol pumps in the country
  • Rewards redemption on flight and hotel booking, vouchers, gifts and products, etc.
  • Air accidental death cover of Rs. 1 crore
  • Emergency overseas hospitalization cover up to Rs. 15 Lakh

#5) Amazon Pay ICICI Card

When it comes to co-branded benefits, Amazon Pay ICICI Card is one of the best co-branded credit cards in India. If you shop at Amazon frequently, you can save big on all your Amazon spends in the form of cashback. Apart from Amazon purchases, you get cashback on other spends as well. The best thing about this credit card is that you get all these benefits free of cost as there is no joining fee or renewal fee on this card. Below-mentioned are the details of this credit card:

Annual Fee: Nil
Renewal Fee: Nil
Minimum Salary Requirement: Communicated at the time of sourcing

Features and Benefits:

  • 5% cashback on all purchases at Amazon for Amazon Prime customers in addition to existing offers
  • 3% cashback on all purchases for non-prime customers
  • 2% cashback on purchases at Amazon partners and gift card purchases
  • 2% cashback on recharges, bill payments, etc.
  • 1% cashback on all other purchases
  • 1% fuel surcharge waiver on all petrol pumps across India
  • No cost EMI on all purchases above Rs. 3,000 for 3 or 6 months

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