When you spend ₹200 on a product and get cashback of ₹5, it feels like a victory. That is why a credit card with cashback is extremely popular these days. You can get instant cost-saving opportunities through a cashback credit card.
There are several other perks besides cashback to make credit cards more efficient. These include:
- Reward points
- Instant discounts
- Air miles
- Lounge benefits
- Dining and other discounts
- Fuel surcharge wavier
To maximise your credit card benefits, you can choose a card most suitable to your needs. However, you need to understand the various intricacies of these cards to pick a popular cashback credit card.
Understanding Cashback Credit Cards
To maximise cash benefits, you can choose a credit card that comes with cashback. When you use a cashback credit card to buy something, the issuer gives you back a certain percentage of your spending.
Here are the various perks and benefits of such cards:
Rewards and Benefits
While choosing your credit card, consider these factors:
- Earning 1-5% cashback (or more) on eligible purchasing categories
- Cashback caps per month or billing cycle
- Earning points on other categories and cash value of the points
- Joining benefits, fuel surcharge waivers, and more
- Redemption options of reward points
Features
Apart from the perks, you need to consider the following factors:
- Introductory APR
- Interest rate after the introductory period
- Annual fees
- Cash advance fees
- Late fees
In this way, you can gain a cohesive knowledge of each card and find the one best suited for your needs.
Top Credit Cards with Maximum Cashback
Here are six popular options to consider:
Cashback SBI Card
With this SBI credit card, you can get 5% cashback on your online purchases and 1% on offline spending. The cashback will be auto-credited to your account within the next 2 business days.
Standard Chartered Cashback Credit Card
This is another great option to acquire up to 5% cashback on spending on fuel, phone and utility bills. Offline usage like supermarket purchases, will offer 4X reward points. Moreover, you can get 15% cashback on Ola cab bookings.
Amazon Pay ICICI Credit Card
This card offers cashback of 3-5% on purchases you make on Amazon based on whether you are a Prime member or not. You also get 1-2% cashback on other eligible transactions. All the cashback you earn is credited into your Amazon Pay account.
HDFC Bank MoneyBack+ Credit Card
This card offers 2 cash points every time you spend ₹150. Moreover, you can get 10X cash points on Amazon, BigBasket, Swiggy, Reliance Smart SuperStore and Flipkart.
Axis Bank ACE Credit Card
The ACE credit card offers 5% cashback on bill payments, including internet, gas, phone, electricity and more on Google Pay. You will get 4% cashback on Zomato, Swiggy and Ola. And for the rest of your eligible purchases, you will get 1% cashback.
One Credit Card
With this stylish metal credit card, you will get a 2% value back on groceries via OneEssential. You will also get 2% valueback on DMart, More, Star Bazaar, and McDonald’s orders. You will also get 5X reward points monthly on your top two spending categories.
Here is a comparison of every aforementioned credit card with cashback benefits with joining fees and reward points.
| Credit Cards | Joining and Annual Fees | Rewards |
| Cashback SBI Card | ₹999 | 5% cashback on online spending and 1% cashback on offline spending |
| Standard Chartered Cashback Credit Card | No joining fees or annual charges | 4X reward points and lounge access |
| Amazon Pay ICICI Credit Card | No joining or annual fees | 5% cashback through Amazon Pay for Amazon Prime members |
| HDFC Bank Money-Back Credit Card | ₹500 | 2 reward points on spending ₹150 |
| Axis Bank ACE Credit Card | ₹499 | 5% cashback on bill payments |
| One Credit Card | No joining or annual fees | 2% value back and 5X reward on top of spending categories |
Once you have a comprehensive knowledge of which cashback credit card fits you best, you can make an educated choice.
Maximising Credit Card Cashback
Cashback is very useful, but there is more to it. You need to learn how to maximise your cashback and get the best out of your credit card. For instance, measure the total cashback you can earn against the annual fees and added interest charges and late payment fees.
Here are some tips for choosing your cashback card and using it well:
- Track your spending categories – they may be utility bills, fuel, groceries or travel
- Choose a cashback card which offers higher value in categories that you spend more
- See how to get accelerated cashback and use the card accordingly
- Look for a card with welcome benefits – such as gift vouchers or reward points
- Keep track of the credit card fees – joining fees, annual fees, cash advance fees, etc
- Prioritise credit card bill payments without fail each month
Whether you want cashback or bonus reward points, consider the One Credit Card for the best outcome. It is a lifetime-free card, making it easier to maintain. Besides 5X reward points and 2% valueback options, you get lucrative discounts on assorted deals across various partners.
Moreover, it offers a powerful mobile app which helps you easily track purchases and set your spending limits. Paying your bills, including your rent, will be at your fingertips. Download the app or visit the website to apply now.