In 2024, credit cards are no longer just a convenient payment tool; they’re also a gateway to cashback rewards on every rupee you spend. With rising expenses on daily essentials, dining, online shopping, and utilities, cashback credit cards can help you save a significant amount. If you’re looking for the best cashback credit card options in India, here’s a comprehensive guide to help you choose the right one.
Let’s explore the top cashback credit cards for 2024 that are designed to maximize rewards based on your spending habits and lifestyle.
1. Axis Bank ACE Credit Card
Why it’s great: Designed with the everyday spender in mind, the Axis Bank ACE Credit Card offers excellent cashback on essentials like bill payments, groceries, and online recharges. This card’s competitive cashback rates make it a top choice for regular spenders.
- Cashback Benefits: 5% cashback on bill payments and recharges made through Google Pay, 4% cashback on partner merchants like Swiggy, Zomato, and Ola, and 2% on all other spends.
- Annual Fee: ₹499 (waived on annual spends of ₹2 lakh).
- Best For: People who frequently pay utility bills and order food or use rideshare services.
- Pro Tip: If you’re spending consistently on food and transport, this card’s rewards easily offset the annual fee, making it essentially free.
Why You Should Consider It: Axis ACE provides reliable and consistent cashback across multiple essential categories, making it ideal for young professionals and urban dwellers.
2. HDFC Bank Millennia Credit Card
Why it’s great: Known for its versatility, the HDFC Millennia Credit Card offers high cashback rates on online spends, especially on popular platforms like Amazon and Flipkart, which makes it highly appealing for online shoppers.
- Cashback Benefits: 5% cashback on Amazon, Flipkart, and on flights and hotel bookings through HDFC’s SmartBuy portal, 1% on all other spends.
- Annual Fee: ₹1,000 (waived on annual spends of ₹1 lakh).
- Best For: Online shoppers who make frequent purchases on e-commerce platforms.
- Pro Tip: To maximize rewards, prioritize purchases through HDFC’s SmartBuy portal for a higher cashback rate.
Why You Should Consider It: For regular online shoppers, the HDFC Millennia is a powerful cashback tool that practically pays for itself with frequent e-commerce purchases.
3. SBI Cashback Credit Card
Why it’s great: The SBI Cashback Credit Card is a straightforward cashback option with a high percentage on all online purchases, making it an ideal choice for digital-first users.
- Cashback Benefits: 5% unlimited cashback on online spends, 1% cashback on all other spends.
- Annual Fee: ₹999 (waived on annual spends of ₹2 lakh).
- Best For: Users who make most of their purchases online and want straightforward cashback.
- Pro Tip: This card has no cap on cashback for online spends, which is rare, so it’s perfect if you have high monthly digital expenses.
Why You Should Consider It: With its easy-to-understand rewards structure, the SBI Cashback Credit Card is a solid choice for online enthusiasts who want simple and rewarding cashback.
4. Amazon Pay ICICI Bank Credit Card
Why it’s great: The Amazon Pay ICICI Bank Credit Card is co-branded with Amazon and is highly beneficial for frequent Amazon users. With no annual fee, this card allows you to earn cashback on Amazon and other partner merchants.
- Cashback Benefits: 5% cashback on Amazon for Prime members (3% for non-Prime), 2% on Amazon Pay partner merchants, and 1% on all other transactions.
- Annual Fee: None (Lifetime Free).
- Best For: Amazon shoppers, especially Prime members, who want hassle-free cashback with no fees.
- Pro Tip: Pair this card with an Amazon Prime membership to unlock the highest cashback rate on Amazon.
Why You Should Consider It: If you frequently shop on Amazon, this card offers excellent cashback with no annual fees, making it a no-brainer for Amazon enthusiasts.
5. Flipkart Axis Bank Credit Card
Why it’s great: Co-branded with Flipkart, this Axis Bank card is designed to maximize rewards on e-commerce, especially on Flipkart and Myntra. It’s also versatile enough to earn cashback on other spends like dining and travel.
- Cashback Benefits: 5% cashback on Flipkart and Myntra, 4% on preferred merchants (Swiggy, PVR, etc.), and 1.5% on all other spends.
- Annual Fee: ₹500 (waived on annual spends of ₹2 lakh).
- Best For: Frequent online shoppers who buy from Flipkart and Myntra.
- Pro Tip: If Flipkart and Myntra are your go-to sites, this card’s cashback will add up quickly.
Why You Should Consider It: For Flipkart and Myntra shoppers, this card provides one of the highest cashback rates on these platforms, making it a valuable option.
How to Choose the Best Cashback Credit Card in 2024
When selecting a cashback card, consider your spending habits. If you’re a frequent online shopper, choose cards that offer higher cashback on digital purchases. If most of your expenses are in dining, travel, or utilities, select a card tailored for those categories. Here’s a quick checklist:
- Annual Fees vs. Benefits: Ensure the card’s cashback benefits outweigh its annual fee.
- Spending Categories: Choose a card with rewards in categories you spend most on, such as online shopping, dining, or fuel.
- Cashback Cap: Some cards have monthly or annual caps on cashback, so select a card based on your monthly budget.
Conclusion
With the right cashback credit card, you can make every rupee spent work for you. Whether you’re an online shopper, a frequent traveler, or someone who spends on dining and utilities, there’s a card tailored to your needs. In 2024, cashback cards offer flexible rewards, low fees, and robust perks, making it easier than ever to maximize your savings.
To simplify the application process, platforms like Easemydeal allow you to compare and apply credit cards from various banks and even offer an extra ₹500 cashback on approved applications. Choose the card that aligns best with your lifestyle, and start earning on every transaction today!
