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10 Best Credit Cards for 2024: Compare and Apply Online

10 Best Credit Cards for 2024: Compare and Apply Online

Team Finology

Created on 20 Jan 2024

Wraps up in 8 Min

Read by 9.2k people

Over the last 7 years, the credit card industry in India has witnessed a Compound Annual Growth Rate (CAGR) of 20%. This growth can be attributed to the increasing adoption of digital payments and advancements in technology, among other factors.

As a result, the industry has undergone various developments, including smooth onboarding processes, differentiated card products, personalised offers and rewards, and better mobile applications, among others.

With this growth, credit card issuers are continuously striving to bring more innovation and awareness to this sector. In this blog, we will dive into the top 10 best credit cards in India for the year 2024. They have been selected based on their features, benefits, and rewards, which make them stand out from the rest.
Whether you are a frequent traveller, a shopaholic, or someone who prefers cashback, there is a credit card that caters to your needs. So, without further ado, let's explore the best credit cards in India for 2024.

10 Best Credit Cards for 2024

Sr. No	Card Name	Best For
1	SBI SimplyCLICK Credit Card	Best Credit Card for Online discounts and offers
2	SBI Cashback Credit Card	Best Credit Card for Cashback
3	SBI SimplySAVE Credit Card	Best Credit Card for Everyday Spending
4	Amazon Pay ICICI Credit Card	Best Credit Card for Shopping
5	American Express SmartEarn Credit Card	Best Credit Card for Online Shoppers
6	IDFC FIRST Select Credit Card	Best Lifestyle Credit Card
7	Flipkart Axis Bank Credit Card	Best Credit Card for Flipkart Discounts
8	Axis Atlas Credit Card	Best Travel Credit Card
9	HDFC Diners Club Black Metal Edition Credit Card	Best Premium Credit Card
10	HDFC Millennia Credit Card	Best Credit Card for Shopping

Know them in detail ⤵

1. SBI SimplyCLICK Credit Card

Joining Fee and Annual Fee: ₹499

The SBI SimplyCLICK Credit Card is an entry-level credit card, primarily targeting online shoppers. Here's a breakdown of its pros and cons to help you decide if it's right for you:

Pros	Cons
Welcome gift voucher worth ₹500 in exchange for paying the joining fee	Low reward rate of 0.25% on offline purchases, restricting its use as an all-rounder for shopping
10x Reward Points on online spending with partner brands like BookMyShow, Cleartrip, Myntra, EazyDiner, Domino's, Netmeds, etc.	It offers no domestic or international lounge access, making it less suitable for frequent travellers
5x Reward Points on all other online spends	There aren't any insurance benefits associated with the SBI SimplyCLICK Credit Card
Convenience and security of contactless payments at millions of outlets worldwide

2. SBI Cashback Credit Card

Joining and Annual Fee: ₹999

The SBI Cashback Credit Card is a popular option for those looking to earn rewards on their everyday spending. The card has a joining fee and an annual fee of ₹999, which can be waived on spending ₹2 lakh in a year. Here's a breakdown of its pros and cons to help you decide if it's right for you:

Pros	Cons
5% cashback on all online purchases, without any merchant restrictions	No cashback on fuel, utility bills, rent payments, merchant EMIs, wallet loads, encash, and cash advances
1% cashback on all offline purchases	The card does not offer any welcome benefits or airport lounge access
Make quick and secure transactions using contactless technology

3. SBI SimplySAVE Credit Card

Joining and Annual Fee: ₹499

The SBI SimplySAVE Credit Card is an entry-level card aimed at everyday spenders. It offers good reward points on groceries, dining, departmental stores, and movies, along with a low annual fee. Here's a breakdown of its pros and cons to help you decide if it's right for you:

Pros	Cons
10 Reward Points per ₹150 spent on groceries, dining, departmental stores, and movies	The 10X reward points only apply to specific categories, not all spending
1 Reward Point per ₹150 spent on all other categories	Overall, the reward rate is lower compared to other credit cards
2000 bonus Reward Points within 60 days of card setup	Doesn't offer travel insurance or airport lounge access
Annual fee of ₹499, waived off if you spend ₹1 lakh in a year	No annual milestone rewards or cashback options

4. Amazon Pay ICICI Credit Card

Joining and Annual Fee: Lifetime Free

The Amazon Pay ICICI Credit Card is a great option for frequent Amazon shoppers, especially Prime members. The high cashback rates and lifetime free feature make it a valuable card for maximising your savings on Amazon purchases.

Pros	Cons
5% cashback for Amazon Prime members on all purchases on Amazon.in	Limited rewards outside Amazon. You can only earn 1% cashback on non-Amazon transactions
3% cashback for non-Prime members on all purchases on Amazon.in	No airport lounge access, movie offers, etc
2% cashback on payments made to Amazon Pay Merchant Partners	Not suitable for international usage due to high markup fee
1% cashback on all other transactions
No limits on earnings and no minimum redemption amount or fees
No joining fee or annual fee

5. American Express SmartEarn Credit Card

Joining and Annual Fee: ₹495

The American Express SmartEarn Credit Card is an entry-level credit card available in selected cities in India. It has a low joining fee of ₹495 and offers rewards points on every purchase. However, the limited acceptance, foreign transaction fees, and rewards program complexity are important drawbacks to consider. Know about its pros and cons in detail:

Pros	Cons
10X Membership Rewards on Zomato, Ajio, Nykaa, BookMyShow, Uber and many more for every ₹50 spent	American Express is not as widely accepted as Visa or Mastercard, so you may not be able to use it everywhere
5X Membership Rewards on Amazon and Paytm Wallet for every ₹50 spent	Requires good to excellent credit to qualify
0% convenience fee on fuel purchases at HPCL	High cash advance charge of 3.99%
24/7 card-related assistance

6. IDFC FIRST Select Credit Card

Joining and Annual Fee: Lifetime Free

The IDFC First Select Credit Card is a lifetime-free card catering to those who want a mix of rewards and benefits without an annual fee. Here's a breakdown of its pros and cons to help you decide if it's the right choice for you:

Pros	Cons
No annual fee makes it easy to keep and use without worrying about recurring charges	Compared to other cards, the base reward rate of 1.5% is not very competitive
10X reward points on online spending above ₹25,000, making it good for high-spenders	No specific rewards for fuel spending, unlike many other cards
4 complimentary domestic airport lounge visits per quarter and access to railway lounges through Priority Pass	No international lounge access is provided
6X & 3X Reward Points on online & offline purchases, respectively
Buy one, get one offer on movie tickets up to ₹250 on the Paytm mobile app
Free roadside assistance worth ₹1,399

7. Flipkart Axis Bank Credit Card

Joining and Annual Fee: ₹500

The Flipkart Axis Bank Credit Card is a popular choice for online shoppers in India, especially those who frequent Flipkart and its sister site Myntra. But is it the right card for you? Let's break down its pros and cons to help you decide.

Pro	Cons
5% cashback on Flipkart and 1.5% cashback on Myntra purchases	The cashback rate for offline purchases is only 1.5%, making it less attractive for users who shop primarily offline
4% cashback on preferred merchants like PVR, Swiggy, Uber, Cult.fit	No cashback on fuel transactions
1.5% cashback on all other categories, including offline spending	No international lounge access
No capping on cashback limit	No free insurance coverage
Free domestic airport lounge access 4 times per year
Dining benefits and access to the EazyDiner program

8. Axis Atlas Credit Card

Joining and Annual Fee: ₹5,000

The Axis Atlas Credit Card is a travel-focused card targeting frequent flyers and travellers. It offers a rewards program through EDGE Miles, lounge access, travel benefits, and insurance covers. Let's break down its pros and cons to help you decide if it's the right card for you:

Pros	Cons
Welcome bonus of 5,000 EDGE Miles	A high annual fee of ₹5,000 may not be justified for low spenders
Earn 5 EDGE Miles per ₹100 spent on travel and 2 EDGE Miles on other eligible transactions	Benefits depend on reaching annual spending milestones
Free airport lounge access in multiple cities	No specific bonus categories, unlike some other travel cards
Complimentary airport concierge service for Gold and Platinum members
Chauffeured airport pickup service for Platinum tier members
Free travel insurance cover for accidental death, baggage loss, and trip cancellation
Zero Liability Protection and wide payment network acceptance

9. HDFC Diners Club Black Metal Edition Credit Card

Joining and Annual Fee: ₹10,000

The HDFC Diners Club Black Metal Edition Credit Card is a premium credit card that offers a range of benefits, including unlimited airport lounge access, complimentary golf games, and reward points on spending. It is made of black metal, and has a sleek design and is a good option for frequent travellers and golf enthusiasts who are willing to pay a high annual fee. However, it is important to consider the cons of the card before applying:

Pros	Cons
Unlimited airport lounge access to over 1,200 airport lounges worldwide, including Priority Pass, Diners Club, and LoungeKey lounges	High annual fee of ₹10,000
6 free golf games per quarter	Diners Club is not as widely accepted as Visa or Mastercard
5 Reward Points for every ₹150 spent, making a base reward rate of 3.3% on every spending	No reward points on fuel, Easy EMI and e-wallet loading transactions
Free annual memberships of Club Marriott, Amazon Prime, and Swiggy One on spending ₹1.5 lakh within the first 90 days of card issuance
10,000 Bonus Reward Points on spends of ₹4 lakh every calendar quarter

10. HDFC Millennia Credit Card

Joining and Annual Fee: ₹1,000

The HDFC Millennia Credit Card is a popular cashback card in India, offering rewards on everyday spending and other benefits. Here's a breakdown of its pros and cons to help you decide if it's the right choice for you:

Pros	Cons
5% cashback on Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber and Zomato	Maximum of 1,000 cash points per statement cycle in each category
1% cashback on all other spends, including EMI & wallet transactions	Cashback can only be redeemed as vouchers or statement credits
₹1000 worth of gift vouchers on spends of ₹1,00,000 and above in each calendar quarter
20% discount on partner restaurants via Swiggy Dineout

Conclusion

The credit card industry in India is witnessing tremendous growth, with new and innovative credit card products being introduced every year. As we have discussed, the top 10 best credit cards for 2024 offer a range of benefits, rewards, and features that cater to different types of customers. Whether you are a frequent shopper, a traveller, or someone who prefers cashback, there is a credit card that suits your needs.

It is essential to choose a credit card that aligns with your spending habits and financial goals. Before applying for a credit card, compare different options, read the terms and conditions carefully, and understand the fees and charges associated with it. Remember, a credit card can be a powerful financial tool if used wisely. So, choose the right one for yourself and enjoy the benefits it has to offer.