Top 5 Credit Cards For Salaried Person in India 2024

Top 5  Credit Cards For Salaried Persons: Through credit cards, you can avail many benefits like cashback, reward points or discounts on select brands, and the convenience of making online and offline purchases. . You can easily apply for a credit card based on your eligibility and also get instant approval.

What is a credit card?

Credit card is a financial product issued by a bank or company. Credit cards come with a pre-determined limit with which you can purchase goods and services. In simple words, credit limit is the limit on the amount you can spend through your credit card. Credit card limits are decided based on several factors including age of the applicant, credit score, existing loan and internal policies of the card issuing bank/company etc.

Credit cards contain details like credit card number, expiry date, card holder name and CVV. When you register your card to make online payments, all these things have to be filled.

On making any purchase or bill payment with the help of credit card, one gets the benefits of reward points, cashback, air miles, discounts etc. Apart from this, as long as you make your credit card bill payments on time and do not withdraw cash, no interest is charged on your credit card.

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Types of Credit Cards in India

There are many types of credit cards. Below are some of the most common types of credit cards:-

Travel Credit Cards – Travel credit cards are designed to help you save while traveling. You can save on these credit cards through benefits like airmiles, free flights, discounted hotel stays, airport lounge access and travel insurance etc.

Shopping Credit Cards – Through these credit cards you can save on online and offline shopping. You can save a lot of money through reward points, cashback, discounts or co-branded benefits.

Reward Credit Card – In this, reward points are given on every purchase. These reward points can later be redeemed for vouchers or any product or converted into airmiles, cashback by visiting the rewards catalog of the card.

Cashback Credit Card – In this, instead of reward points, customers are provided a certain percentage of the amount spent on purchases in the form of cashback.

Fuel Credit Cards – On these cards, customers are given additional reward points on purchasing fuel. Most of the cards are co-branded with fuel brands like Indian Oil, HPCL, BPCL etc.

Lifetime-Free Credit Cards – Credit cards that do not charge any joining or annual fees come under the category of Lifetime Free Credit Cards.

Entry-level credit cards – Entry-level credit cards come with easy eligibility criteria and basic rewards structures to suit the needs of first-time cardholders and often have low fees.

Dining Credit Cards – Customers can save on dining spends in the form of reward points, discounts, co-branded benefits, free-memberships, etc.

Co-Branded Credit Cards – Higher cashback and rewards are offered on purchases made by the brand with which the credit card is partnered.

Grocery Credit Card – Through this card, you get rewards on purchases from groceries and departmental stores etc.

Premium Credit Card – This card is designed for high income people. This card offers luxury benefits to suit the needs of such people, which are not available on regular cards.

Hotel Credit Cards – Discounted stays, free memberships and other benefits are offered to customers to save on hotel expenses.

Business Credit Cards – These cards are issued directly in the name of an organization or an employee of an organization. There are benefits provided on these cards that can help the organization save their operating costs.

We are here to tell you about some of the top 6 credit cards with low annual fees that can meet your various lifestyle needs. so what are you waiting for?

1. ICICI HPCL Coral Credit Card

Annual Fee: ₹ 199

Privileges and allowances

• Earn 2 PAYBACK points on every purchase of Rs 100 (except fuel).
• You can redeem 2000 PAYBACK points at once which will be worth ₹500.
• With every fuel purchase at HPCL, you can earn 2.5% cashback and 1% surcharge discount.
• Save at least 15% on meals at over 800 restaurants across India, courtesy Culinary Treats program.
• 2.5% cashback on refueling at HPCL stations on minimum transaction of ₹500.

2. Axis Bank Smart Traveler Credit Card

• Get a card that comes with extra travel benefits to reward your travel
• Annual fee: ₹ 250 (can be waived on spending of ₹ 2,500 within 45 days)

Privileges and allowances

• 8 points on every ₹200 spent on credit cards while traveling abroad
• ₹ 200 points spent anytime on hotels, holiday packages, airlines, train and bus bookings in India
• 2 points on every ₹200 spent on credit cards in India
• 1% fuel surcharge waiver on all fuel transactions in India with Axis Bank Titanium Credit Card
• Valid only on transactions between ₹ 400 and ₹ 4,000
• Maximum benefit up to ₹ 400* per month
• Get 15% discount on meals at partner restaurants in India

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3. Standard Chartered Platinum Rewards Card

• Get ready to enjoy the best rewards programs with unmatched lifestyle benefits.
• Annual Fee: ₹ 250 (fees along with applicable GST will be reversed on the first transaction made by a customer within 90 days of the card set-up date)

Privileges and allowances

1. Earn 1000 reward points as a reward offer, equivalent to ₹300 value on BookMyShow vouchers at 360 Rewards.
2. Get 5X reward points on fuel, meals and other hotel expenses in India.
3. Earn 1 reward point for every ₹150 spent on other categories.
4. 1 reward point is equal to ₹ 0.30.
5. Avail 20% cashback on all Uber rides, up to ₹600 in a month.
6. Total monthly expenditure in the calendar month should be more than ₹ 15,000.

4. Saral SBI Card

• Annual Fee: ₹ 499

Privileges and allowances

• 2,000 bonus points on achieving ₹ 2,000 spend in first 60 days.
• Annual fee reversal on annual spend of Rs 90,000 and above.
• 1% fuel surcharge waiver across all petrol pumps for transactions between ₹ 500 – 3,000.
• Earn 1 reward point for every ₹ 100 spent using this card.
• Get ₹100 cashback on your first ATM cash withdrawal.

5. Hdfc moneyback card

• Get cashback on everyday spends with HDFC Moneyback Card
• Annual Fee: ₹ 500

Privileges and allowances

• Get 2x reward points on online spend
• Spend ₹50,000 in a quarter and get ₹500 e-voucher
• Redeem rewards as cashback
• ₹ 2 reward points on Rs 150 spend
• Enjoy up to 1% fuel surcharge discount on all fuel transactions above ₹400
• Enjoy a long interest free period of 50 days from the date of purchase

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6. Citibank Cashback Credit Card

• Now paying your bills has never been as rewarding as it is with the Citibank Cashback Credit Card.
• Annual Fee: ₹ 500

Privileges and allowances

• For purchases up to ₹ 2,000 without entering PIN at merchant terminal
• 5% cashback on all movie ticket purchases, subject to a maximum cap of ₹ 100 per month
• 5% cashback on all utility bill payments paid through Citibank Online Bill Pay
• 5% cashback on all telephone bill payments
• 0.5% cash back on all other spends
• Save up to 15% at participating restaurants
• Simple Redemption Policy
• Get redemption in multiples of ₹500
• Get your cash back easily and automatically as a statement credit
• Multiple Repayment Options

Credit card features and benefits

The facilities and benefits available on credit cards depend on the type of card. However, there are some features that are the same in almost every credit card, as shown below:-

Easily Money available: The credit limit given to you increases your ability to spend money, and it can prove to be very helpful during financial emergency.

Helps creating a credit profile: You can make a good credit score by making disciplined use of your credit card. A good score can help you get a loan to buy your financial goals such as a house, buy a car.

Value-back on each purchase: Most credit cards provide value-back in some form or the other. On some cards you get reward points while some get cashback. Some cards also offer direct discounts on selected brands instead of rewards or cashbacks.

EMI conversion: You can make big purchases through credit cards. If you are unable to pay any goods at a time, then you can make a little payment by converting it to EMI. This is particularly helpful for customers who cannot pay a lump sum amount but can pay small amounts every month.

Ad-on Card: You can get the ad-on card issued to share the benefits on your primary credit card with your spouse, children or parents.

Exemption on fuel surcharge: When you buy fuel using your credit card, most credit cards offer 1% discount on fuel surcharge. However, how much discount will be given on the transaction of the amount and the maximum discount will be different from one card to another.

Airport Lounge Access: Not only the travel credit card does not provide airport lounge access facilities but many other cards also provide free airport lounge access. One month/three months/annual free visit will be different from one card to another.

Insurance cover: Some credit cards also provide a complementary insurance cover for air accident, hospital recruitment, losing cards, losing goods/documents during travel, etc. The limit of insurance cover varies from one card to another.

Consiative Services: Other cards mainly come with the facility of premium credit cards, which facilitate the customers to book tickets through the census desk, gift delivery, help to help repair when the car gets damaged, etc. Are.

How do credit cards work?

Like the debit card, you can use your credit card to make online and offline payment. The amount you use for payment, the amount is deducted from your available credit limit. As soon as you pay your credit card bill, the amount is deposited back in your credit limit.

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Most credit cards offer 50 days interest period with a 30-day billing period and a 20-day grace period. Keep in mind that the interest -free period does not apply if the bill is outstanding on the cash withdrawal and your card.

Credit cards should be used with full responsibility. Along with this, the credit card bill should be paid on time. Failure to do so may have to pay more interest and penalty.

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For these reasons, you should take a credit card:

If you are confused about whether you should take a credit card or not, then below is some reasons which will help you decide why you should take a credit card:-

• If you do not have a credit card and you want to make your credit score.
• You want to learn to use credit cards responsibly
• You need extra perchasing power (ability to spend money).
• You want to save on daily expenses through rewards or cashbacks.
• You want to make expensive shopping through EMI.