Credit cards have money-saving potential and benefits to offer. The Indian industry of credit cards is exponentially growing with some of the most unique cards with several features and benefits being launched over the last few years. The cashbacks, discounts, credit limits, and waive-offs are few of the most attractive features that these cards offer, thereby making them irresistible for their customers.
With a plethora of credit cards available in the Indian market, it is necessary to gauge your requirements and align them with the best suited credit card in the industry. Sometimes, it can get quite confusing for you to analyse them properly. Hence, in order to help you differentiate between a suitable and a not-so-suitable credit card based on their services, here’s a list of some of the best credit cards to look forward to in 2023. These cards have been analysed based on their stable reward points, cashbacks, discounts, and so on. The below mentioned cards are pocket-friendly and the best ones in the market. Read on to know more about their features and benefits.
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Axis Bank ACE Credit Card
Most of your monthly income goes into the payment of your daily utility bills. Launched in association with Google Pay, the Axis Bank ACE Credit Card offers a cash back of 5% if you pay your monthly utility bills through their online payment facility. This will usually cover almost all your household bills. It has a lower or an upper limit to the cashback amount. Following utility bills fall under the utility bills’ criteria in this case:
- Cable TV
- Mobile Service
This card also provides you with a cashback of 4% on Zomato, Ola, and Swiggy, without any upper limit. In addition to this, you can get a 2% cash back on any kind of payment you make through this credit card. The most exciting thing about this card is that you get all these benefits at an annual fee of just Rs 499.
Dhanlaxmi Bank Platinum Credit Card
Dhanlaxmi Bank is not very popular in the credit cards’ market but it offers a wide range of credit cards, with its Platinum Credit Card being one of its best offerings. A free credit card with zero annual fee, this credit card gives you a 5% cashback if you use it to make your purchase payments at department stores or supermarkets in a hassle free manner.
It offers credit shield cover of up to Rs 1,00,000 with a purchase protection plan of up to Rs 1,00,000, and air accident insurance cover of up to Rs 20,00,000. However, one of the limitations of this credit card is that in order to be eligible for applying for this credit card, your annual income must be at least Rs 3,00,000 per annum.
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SBI SimplySAVE Credit Card (RuPay version)
Launched by State Bank of India, the SBI SimplySAVE Credit Card (RuPay version) centrally focuses on online shopping. If you are someone who looks forward to a card rewarding offline shopping experience, you must use this card. Its RuPay version has been recently launched, however, it hasn’t been marketed much.
This version of the card provides you with higher discounts on your purchases from several brands, in addition to the regular SimplySAVE discount. Its original card offers ten times more reward points on every Rs. 100 on the below mentioned activities:
- Grocery spends
- Departmental stores
On any spend other than the ones mentioned above, you get one reward for every expenditure of Rs 100.
The SBI reward point’s value stands constant at Rs 0.25. Every kind of entertainment requirement and offline shopping are facilitated by this card.
HPCL BoB ENERGIE Credit Card
This card has been launched by Bank of Baroda and it provides reward points and cashback on your fuel purchase. Especially designed for your household if you use HP cylinders, this card offers 24 reward points on an expenditure of every Rs 150 which you spend on fuel. Every reward point’s value stands static at Rs 0.25.
You get a 4% cashback on diesel, LPG, and petrol from HPCL. There is also a 1% fuel surcharge waiver and if you are using the HP Pay App, you get a cash back of an extra 1.5%. You also receive ten reward points on an expenditure of every Rs 150 on the following:
- Departmental stores
On any spend other than the ones mentioned above, you get 2 reward points.
You must also note that you can also receive a complimentary domestic airport lounge access in each quarter. Other than this, this BoB also offers several discounts to you if you make your purchases from their partner corporations regularly.
Standard Chartered Super Value Titanium
This credit card offers a 5% cashback on utility payments and fuel. If you are applying for a credit card for the first time ever and you spend most of your monthly income on utility bills, phone, and fuel, this is the most suitable card for you.
You have to pay an annual fee of Rs 750 which gets waived off if your expense is at least Rs 60,000 in the very first year. This annual fee will be waived off if you utilise the card within the first ninety days of its approval. If your monthly expenditure is more than Rs 5000 (12×5000=60000/year), then you should definitely apply for this card.
There are several benefits to this card. They are mentioned below:
- 5% cashback on utility bills
- 5% cashback on phone bills
- 5% cashback on fuel charges
ICICI Amazon Pay Credit Card
This credit card is one of the best credit cards you can look forward to in the year 2023. This credit card was launched in the year 2018 to provide their Prime customers with additional benefits. You can apply for this credit card online at the comfort of your own home with just a few simple clicks! All you are required to do is spot the invite within your Amazon Mobile App and the email you receive from Amazon to apply for this credit card. You must make sure that you have added your already existing ICICI credit card into your account to be able to receive the invite. If you don’t have an ICICI Bank credit card, then you must apply for a Platinum Credit Card which is free for lifetime.
The best part about this card is that you are not supposed to pay any annual fee. In addition to this, the card offers the below mentioned benefits:
- You will receive a 1% fuel surcharge waiver
- You will receive a 5% cashback on Amazon for its Prime customers
- You will receive a 2% cashback if you pay to the merchants by using this credit card on Amazon Pay
- You will receive a 1% cashback on every other payment you make
The credit cards in India are available with several such solid features and are domain-specific. In addition to this, you can apply for all the above-mentioned credit cards online without any hassle. Hence, it is definitely worth getting more than one credit card for your household based on your needs and requirements to tap on every domain. It is imperative that you make sure that you choose the credit cards that best suit your financial needs and goals. Hence, going through the above-mentioned list of credit cards you must look forward to in the upcoming year is the best financial decision you can take right now.
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