Cashback & Reward Credit Cards - Credit Card

While choosing a credit card, what features do you look for?

Well, I focus mainly on two aspects of the credit card while buying it - cashback, and the reward points offered on shopping. However, before submitting an application request, here are some factors that one should consider:

• The purpose of taking the card.
• Annual and monthly income of the card applicant.
• Monthly expenditures.
• Credit Score: A good credit score improves the chances of getting approval for some of the best credit cards.
  

After assessing yourself on these aspects, when you get clarity about the type of credit card you require, then the next step would be to find the right card. For choosing the best card, it is essential to compare these features in the various credit cards that you have shortlisted:

• The fee charged on the card.
• The interest rate levied on the card.
• Other miscellaneous benefits offered.
  

mymoneykarma has prepared a list of some of the best cashback and reward credit cards in India:

HDFC Bank Moneyback Credit Card:

This card is primarily designed for people like me, who want to earn money while shopping. Needless to say, the cashback and rewards attract many shopaholics.

With the HDFC Moneyback Credit Card you can earn 2 Reward Points (RP) on every Rs.150 spent and 2x Reward Points (double reward points) on online purchases. These reward points can be redeemed as cashback on your card. So, if you achieve 100 Reward Points, it will be equivalent to Rs. 20.

Once you accrue an excellent number of reward points on your credit card, you can easily redeem it.

Standard Chartered Super Value Titanium Credit Card:

It is a perfect credit card for earning cashback while spending money on fuel, utility bill payments, and other purchases.

Some significant benefits of the card are -

• You can get 5% cashback on all fuel spends and get 2.5% surcharge reversal at any petrol pump.
• You can enjoy 5% cashback on telecom payments for any service provider.
• You can also enjoy a 5% cashback on utility payments such as electricity, gas, and water bills. This is one of the major factors that attract people towards this particular credit card.
• It also gives a provision of 20% cashback on all uber rides, subject to a maximum of Rs.600 per month.
• The minimum transaction amount to avail the cashback facility is Rs.750.

SBI Signature Credit Card

SBI offers this card for people who shop frequently and also wish to save some money on it. SBI, in collaboration with some companies in India, provides various offers through co-branded credit cards.

Some of the key benefits of this card are -

• New customers receive an E-gift voucher worth five thousand rupees, along with a welcome gift from HushPuppies, Bata, Yatra.com, Westside, and Marks and Spencer.
• You can get two reward points on every Rs. 100 paid through your Signature credit card.
• You can also earn five times the reward points (5X) on grocery shopping, departmental stores, international purchases, and dining.
• Fuel is a necessity that you can't avoid; how would you feel if you could save on it? This card waives 2.5% fuel surcharge at all petrol pumps in India.
• You can earn an extra 10,000 points for spending more than Rs. 4 lakh and 20,000 points for spending more than Rs. 5 lakh in a year.
• This is my favorite point - through this card, you can get a discount of 500 rupees every month on two ticket bookings through bookmyshow.com.
• You can also get a 75% discount on the booking charges on more than 55,000 hotels and villas all around the world.
• Enjoy 24 x 7 concierge services in hotels and airports around the world through this SBI card.
  

Citibank Cash Back Credit Card

The Citibank Cash Back credit card is an apt choice for those who love to watch movies. Through this card, you can also earn points while paying your utility bills. However, people who want to apply for this Citibank card require a clean credit history, as the bank is strict on their applications and rejects almost 80% of the applications citing low credit scores.

The credit card benefits provided by Citibank are -

1. You can earn 5% cashback while purchasing movie tickets.

2. You can also earn 5% cashback on utility bill payments and telephone bills.

3. Also earn 0.5% cashback on all other purchases.