7 Best Credit Cards for Beginners in India
Overview
When starting your career, it can be tough to know where to turn for advice. But with the right credit card, you can build a solid financial foundation immediately. In this article, we’ll recommend 7 of the best credit cards for beginners in India.
How to Apply for a Credit Card
To apply for a credit card in India, you must gather the required documents, which include your passport, driver’s license, and bank statement.
Many credit card companies offer online applications, so it is easy to get started.
Once you have completed the application process, you will receive an acknowledgment email from the credit card company. This email will contain your application number and other important information.
If you have questions about applying for a credit card or encounter issues during the application process, please contact the credit card company directly. They will be able to help you with any questions or problems that you may have.
How to use Credit Credit?
If you’re a beginner to credit cards, there are a few things you need to know before you start using them.
Either you’re just starting out or want a reasonable rate on your purchases, or you’re looking to build up your credit history to get better loans in the future.
Read on for our recommendations!
Citibank Cashback Credit Card
| Description | Fees & Charges |
|---|---|
| Joining Fee | Communicated at the time of sourcing |
| Annual Fee | Rs 500 + GST |
| Add on Card Charges | Communicated at the time of sourcing |
| ATM Cash Withdrawal Charges | 2.5% of the Amount |
| Foreign Currency Transaction Charges | For international transactions in USD, 3.5% mark-up on the INR equivalent of the USD For international transactions effected in currencies other than the USD, the transaction would first be converted into USD |
The Citi Cash Back Card is an entry-level cashback credit card with an annual fee of Rs 500. You earn cashback on all spending.
Also, it allows accelerated cashback on movie tickets and utility bill payments. You get special discounts on travel and dining spends (with specific partner merchants). Some of the features of the card are:
If you are interested in this card and want to know more about it –Â
| Product | Do you find it interesting? | |
|---|---|---|
| Citibank Cashback Credit CardEntry Level card from Citibank
| Let’s Explore !! |
American Express Membership Rewards Credit Card
| Description | Fees & Charges |
|---|---|
| 1st Year Fee | Rs 1,000 plus applicable taxes |
| 2nd Year Onwards | Rs 4,500 plus applicable taxes |
| Add-on Fee | NIL |
| Renewal Fee Waiver | Renewal fee of Rs 4500 will be 100% waived off if total spends on American Express Credit Card in the immediately preceding membership year is Rs 1,50,000 and above |
| Renewal fee of Rs 4500 will be 50% waived off if total spends on American Express Credit Card in the immediately preceding membership year is between Rs 90,000 and Rs 1,49,999 |
FYI – This is an excellent credit card. But, as its fee is on the higher side, you should apply for this card only when it is available under the ” Free Joining Fee” campaign across various finance blogs.
American Express is well known for its excellent service and rewards. The American Express Membership Rewards Card is one of the best entry-level cards from American Express for Indian consumers.
Despite being an entry-level credit card, you can earn as much on it as many other premium cards.
If you are interested in this card and want to know more about it –Â
| Product | Do you find it interesting? | |
|---|---|---|
| American Express Membership Rewards Credit CardBest Entry Level card in the Indian Market
| Let’s Explore !! |
Amazon Pay ICICI Bank Credit Card Review
| Description | Fees & Charges |
|---|---|
| Joining Fee | NIL |
| Annual Fee | NIL |
| Rewards Redemption Fee | NIL |
| Foreign Currency Markup Charges | 3.5% of the transaction amount |
| Add-On Card Fee | NIL |
Amazon needs no introduction. Whenever you think of online shopping, it is one of the top websites. The Amazon Pay ICICI Bank Credit Card is excellent if you spend more at Amazon than anywhere else.
If you are interested in this card and want to know more about it –Â
| Product | Do you find it interesting? | |
|---|---|---|
| Amazon Pay ICICI Bank Credit CardBest Entry Level card for Amazon Shopping
| Let’s Explore !! |
Flipkart Axis Bank Credit Card Review
| Description | Fees & Charges |
|---|---|
| Joining Fee | Rs 500 + GST |
| Annual Fee | Rs 500 + GST |
| Annual Fee Waiver | Spend Rs 2 Lakhs in a membership year |
| Foreign Currency Markup Charges | 3.5% |
| Interest Charges | 3.4% per month |
| Add-on Card Fee | NIL |
Just after Amazon partnered with ICICI Bank to launch the Amazon Pay credit card, Flipkart and Axis Bank launched their co-branded card in July.
With this one card, you can shop on both Flipkart and Myntra, as it offers 5% cash back and cashback at selected merchants. It’s not just for shopping, either.
The card was initially launched as a Mastercard variant. After being banned by the RBI, Axis Bank issued the card as a Visa variant. Until January 5th, 2021, it was offered for free to new users. However, starting this date, it will include Rs. 500 as the Joining fee.
This card also provides privileges like travel passes that give you access to specific domestic lounges and more while dining out and spending money on fuel.
If you are interested in this card and want to know more about it –Â
| Product | Do you find it interesting? | |
|---|---|---|
| Flipkart Axis Bank Credit CardBest Entry Level card for Flipkart Shopping
| Let’s Explore !! |
SimplyCLICK SBI Credit Card Review
| Description | Fees & Charges |
|---|---|
| Joining Fee | Rs 499 + GST |
| Renewal Fee | Rs 499 + GST |
| Renewal Fee Waiver | Spending more than Rs 1 Lakhs in the previous year |
| Rewards Redemption Fee | Rs 99 + GST |
| Add-on Card Fee | NIL |
| Foreign Currency Markup Charges | 3.5% of the total transaction amount |
SBI Cards has been India’s second-largest credit card issuer for some time now. During Amazon/Flipkart sales, SBI typically offers a 10% instant discount.
Every shopper needs an SBI credit card when shopping online. The best card for online shopping is SimplyCLICK from SBI.
If you are interested in this card and want to know more about it –Â
| Product | Do you find it interesting? | |
|---|---|---|
| SimplyCLICK SBI Credit CardBest online shopping card from SBI
| Let’s Explore !! |
HSBC Cashback Credit Card Review
| Description | Fees & Charges |
|---|---|
| Joining Fee | NIL |
| Renewal Fee | Rs 750 + GST |
| Renewal Fee Waiver | Spending more than Rs 1,00,000 in the previous year |
| Finance Charges | 3.3% per month |
| Add-On card Fee | NIL |
HSBC offers millennials the best credit card because it offers unlimited cashback on popular spending categories. It provides introductory deals that make HSBC the best addition to your wallet.
A good credit card should offer the maximum value for your favourite purchases. HSBC Cashback Credit Card offers the maximum value for travel spending, for example, of all available credit cards.
If you are interested in this card and want to know more about it –Â
| Product | Do you find it interesting? | |
|---|---|---|
| HSBC Cashback Credit CardBest beginner’s card for Indian customers
| Let’s Explore !! |
HDFC MoneyBack Credit Card Review
| Description | Fees & Charges |
|---|---|
| Joining Fee | Rs 500 + GST |
| Renewal Fee | Rs 500 + GST |
| Renewal Fee | Spending of minimum Rs 50,000 in the previous year |
| Rewards Redemption Fee | Rs 99 + GST |
| Foreign Currency Markup Charges | 3.5 % of the transaction amount |
| Interest Rates | 3.6% per month |
| Add-On Card Fee | NIL |
HDFC Bank has been the largest private sector bank for quite some time. It also caters to consumers with low credit scores.
The HDFC MoneyBack Credit Card does not base its credit limit on a person’s credit score but rather on their potential income.
HDFC MoneyBack Credit Card is tapping into the ever-growing millennial population of India and their credit score. It includes a low annual fee and a Rewards to Cashback feature for Gen Z and the millennials.
If you are interested in this card and want to know more about it –Â
| Product | Do you find it interesting? | |
|---|---|---|
| HDFC MoneyBack Credit CardBest beginner’s card from HDFC Bank
| Let’s Explore !! |
Conclusion
Finding the right credit card for beginners can be daunting. With so many cards on the market, it can be hard to know which one is best for you. This article reviews the 7 best credit cards for beginners in India.
Our list has something for everyone, from no/minimal annual fees to low interest rates. Hopefully, by reading through our review, you will be able to find the perfect card for your needs and start building your credit history today!
Please read other interesting blogs:
FAQs
Is it necessary to have a bank account in India to receive a credit card?
No, having a bank account in India is unnecessary to receive a credit card. However, having one is always a good idea because it can help you track your spending and build your credit score. If you don’t have a bank account, you can usually get one through an overseas bank.
What is the best way to improve my credit score in India?
A credit monitoring service is the best way to improve your credit score in India. This will help you stay on top of your credit history and ensure that all your transactions are appropriately recorded. It’s also essential to keep your borrowing limits low. Hence, you’re not overextended if something goes wrong with your credit score.
How long does it take for my new credit card to activate?
It typically takes about two weeks for your new credit card to activate. However, this time can vary depending on the card issuer and the specific card you’ve selected. Make sure to read the terms and conditions of the card carefully before applying, so you know what to expect.
What is the minimum amount I need to spend to earn rewards with a credit card?
The minimum amount you need to spend to earn rewards with a credit card can vary depending on the card issuer and the specific card you’ve selected. However, most cards require you to spend at least $1 per month to qualify for rewards.
