Compare credit cards before applying for a credit card because getting the right one according to your need is important. When you buy the right card, you receive many benefits and do not face the burden of fees. While buying a credit card, compare it on Yoindi with essential factors. What are the essential factors, and how to compare credit cards and find the right credit card for you? All information is provided here.
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Do you want to know which of the credit cards are the most popular? Why not take a look and see how they stack up against each other.
Joining Fee
Rs. 10,000 + Applicable Taxes
Rewards Rate
6 Club vistara points for every Rs 200 spent
Joining Fee
Rs. 3,000 + Applicable Taxes
Rewards Rate
4 Club Vistara Points for every Rs. 200 spent
Joining Fee
Rs. 2,999 + Applicable Taxes
Rewards Rate
3X reward point on every Rs. 100 spent
Joining Fee
Rs. 2,500 + Applicable Taxes
Rewards Rate
4 Reward Points on every Rs. 150 spent
Joining Fee
Rs. 12,500 + Applicable Taxes
Rewards Rate
5 Reward Points for every ₹ 150 spent
Joining Fee
Nil
Rewards Rate
10X Points on spends above ₹25,000/month
A credit card is the safest payment method when used responsibly. It improves your financial health by increasing your CIBIL score and choosing the right credit card. Choosing the right credit card is difficult, as thousands of options are available. Here comes Yoindi, a rescue where you can compare credit cards and apply for credit cards. Do questions arise about how you will compare credit cards? Let’s have a closer look at important factors to compare credit cards.
There are various types of credit cards, such as gold cards, silver cards, platinum, titanium, etc. You can apply for a credit card depending on your income, CIBIL score, and eligibility. If you are eligible, you enjoy the benefits of the card.
For instance, a silver credit card is provided to a person with an average salary and work experience of 4 to 5 years, while a gold card is provided to high-income customers. Silver credit cards have no interest charged for 6 to 9 months and have a low membership fee. The gold credit card provides features of high credit limit, travel insurance, cashback offers, rewards, and many other benefits.
When applying for a credit card, understand which category you need the card. The category depends on your spending. If you are spending on shopping, then apply for a card that provides benefits for shopping. If you like to eat in a restaurant, opt for a card that benefits restaurants.
Credit score plays an important role in getting the type of credit card and having the benefits. The CIBIL score on which you receive your credit card is 300 to 850. Here is how it is broken into the following parts:
When you pay with a credit card, you get a grace period to repay. The grace period is 50-55 days depending on the card provider. These days are also known as interest-free periods. When applying for a credit card, compare the card's interest-free period and choose the best from the list.
The annual fee is an important factor when buying a credit card. If the annual fee of the card is more than getting benefits as a cardholder, then don’t opt for that credit card. Instead, opt for credit cards that do not have an annual fee or give you more benefits than the annual fee.
The feature that attracts customers to have credit cards are reward points. When you earn more reward points on spending, you get more benefits. While comparing credit cards, choose credit cards that provide you rewards on your spending, so you achieve high rewards and get benefits.
Once the grace period is over, you must pay an interest rate on the transaction. If the interest rate is high, it is a burden for your pocket; opt for a low-interest-rate credit card.
When you have a credit card, you have to bear additional fees too:
When you don’t repay on time, you must pay late fees to the issuer provider.
When you are making a payment in a foreign bank related to shopping or travel outside India, you must pay a foreign transaction fee. The transaction fee is 3-5% on each charge.
When you're transferring money from one card to another card, then you need to pay fees. The fees range lies between 3% - 5%.
When you are looking for a credit card, you have to check certain factors, so you choose the right credit card for you. There are five basic steps to follow to get the right credit card.
When we are spending money, we spend it for a reason. In the same way, having a credit card has a reason, such as getting offers on Shopping, making a bigger purchase with the borrowing amount, or improving a credit score from scratch. While comparing credit cards, know the purpose.
Once you understand the purpose of a credit card, let's understand whether you are eligible for that type of credit card. For instance, you want a credit card that gives benefits for Shopping, but you have a low income, so apply for a credit card where there is a chance of approval based on your income. At Yoindi, you can compare credit cards based on income and other factors and apply for the right credit card.
While comparing the credit card, shortlist the card based on your need and eligibility. This will make your work easy. As you shortlist the card, check its annual fees or other fees because it should be affordable for you.
From the shortlist card and looking into charges or fees, pick one that provides you best values. For that, ask the following questions.
In the previous step, you chose a credit card. Here, in these steps, choose a method of application. Did you apply on the bank website, Yoindi, or other third-party websites?
If you are confused about whether to have a credit card or not, then check its features and then make a decision.
When you apply for a credit card, you get welcome benefits. These benefits offer additional discounts, vouchers, bonuses, rewards, etc.
You receive rewards when you spend money on shopping, food, and travelling. Rewards you received on the selected brand and partners. You can redeem the rewards and enjoy the benefits.
The benefits were you received the cashback after the spending. The same cash you can apply for other purchases on the same shop or platform. These are some of the benefits cardholders enjoy with credit cards, as they can use cash for other purchases.
Are you looking for a credit card that covers major areas of your living expenses? Yes, a Lifestyle credit card is right for you because it benefits dining, travelling, health and wellness, and other major areas of your life.
Are you a person who is travelling for business purposes? Yes, then a credit card provides benefits on travelling too. It provides benefits on air ticket bookings, travel insurance, annual fee waiver, lounge at the airport, etc. The banks that provide the best credit card travel benefit are Axis bank, HDFC Bank, and SBI Bank.
If you are a person who travels a lot with vehicles, then having a credit card with the benefits of a fuel surcharge waiver is important for you. You get 2.5% waived off on the spending on fuel.
Interest rate is charged when you do not repay the borrowed money or make a partial payment. For instance, if you spend 15000 with a credit card and repay Rs 8000, then Rs 7000 will charge an interest rate.
Credit cards come with the benefits of insurance coverage too. The insurance on travel, medical, car rental insurance, and insurance against credit cards. Depending on your need for insurance, choose a credit card.
Paying for highly expensive goods and hospital payment makes a hole in your pocket. But these can be managed because of credit cards. With credit cards, you can convert expenses into EMI as you don’t have a huge burden of finance on you because of EMI. While applying for a credit card, look into these essential benefits.
Credit cards provide security during transactions with the help of PIN. You can make contactless payments and payments with Chip and PIN security. You also get fraud protection on some cards.
Are you looking for an additional card with a primary card? Because you want your wife, children, and parents to use the same card for the expenses. Then the bank or card issuer provides you with an add -on the card, as you will save money on annual fees and maintenance expenses.
If you are a person who is often travelling with the flight, then these card benefits are for you. You will get complimentary access to membership of 100 airport lounges, special waivers on flight prices, and other benefits.
| Heading | Salaried | Self Employed | Others |
|---|---|---|---|
| Age | Minimum - 18 years, Maximum - 60-65 years | 25-65 years | Minimum - 18 years, Maximum - 60-65 years |
| Credit score | It should be 750 or more | It should be 750 or more | It should be 750 or more |
| Income | Stable monthly income or annual income | Minimum annual income depends on the issuer | The minimum income you need as the state in the bank |
| Employment | Should be working in current organization for one year | -- | -- |
| Heading | Salaried | Self Employed | Students | Non - Resident |
|---|---|---|---|---|
| Identity proof |
|
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|
|
| Address proof |
|
|
|
|
| Income proof |
|
|
-- |
|
| Age Proof |
|
|
|
-- |
| Other Documents |
|
-- |
Enrolment proof
|
For mailing addresses in overseas documents
|
ATM, when you apply for a credit card, you have to bear some charges which are not negotiable. These charges are as follows :
| Type of Charges | Charges |
|---|---|
| Interest charges | 2% to 4% per month |
| GST | As per GST Law |
| Annual maintenance charge | Depending on the card issuer |
| Late payment charges | Depend on the due time and amount |
| Overdraft charges | -- |
| Foreign transaction charges | 3% - 5% |
| Outstation cheque charges | -- |
| Dishonour of ECS charges | -- |
| Lost card charges | -- |
| ATM Withdrawal Charges | 2.5% of the cash advance |
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| IDFC First, select credit card |
Zero annual fees |
Nil |
|
|
|
When looking for a specific category benefit, this card is not for you |
| HSBC Visa Platinum Credit Card |
Zero annual fees |
Nil |
|
5X Rewards on each purchase after spending Rs 4 lakh in a year |
|
-- |
| Bank of Baroda prime Credit Card |
Zero annual fees |
Nil |
|
|
|
-- |
| HDFC Bank Millennia Credit Card |
Rs 1000 |
Rs 1000 + Taxes |
|
|
|
|
| Axis Bank ACE Credit card |
Second year onwards, RS 499 |
Rs 499 + Taxes |
|
No rewards points |
|
|
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| SBI card Unnati |
Nil, 5 years onwards Rs 499 |
Nil |
|
|
|
You get a card when you have FD with an SBI of Rs 25000 or more |
| IDBI Aspire Platinum |
Nil |
Nil |
|
|
|
Pay cash replacement fee of Rs 200 |
| Axis Bank Insta Easy Credit card |
Nil |
Nil |
|
|
|
|
| Amazon Pay ICICI |
Nil |
Nil |
|
Unlimited rewards point |
|
|
| IDFC First Select credit card |
Nil |
Nil |
|
Rewards points without any upper limit |
|
The value of the reward point is INR 0.25 |
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| FinBooster: YES Bank bank Bazaar Co-branded Credit card |
Nil |
Nil |
|
|
|
18% GST to pay on fees |
| IndusInd Bank Platinum card |
Nil |
Rs 3000 |
|
|
|
Paying joining fees of Rs 3000 |
| HSBC Smart Value Credit Card |
Rs 499 |
Nil |
|
|
|
|
| HDFC Freedom Credit card |
Rs 500 |
Rs 500 |
|
|
|
|
| American Express SmartEarn Credit Card |
Rs 495 |
Rs 495 ( waived off when spending Rs 40,000 or more) |
|
10X Rewards points on every Rs 50 spent on Flipkart, Amazon, and Uber |
|
|
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| HDFC Bank Diners Club Black card |
Rs 10,000 |
Rs 10,000 |
|
|
|
Need a monthly income of more than Rs 1.75 lakh |
| Axis Bank Vistara Credit card |
Rs 1500 from the second year |
Rs 1500 |
|
You earn 2 club Vistara points for each Rs 200 spending |
|
-- |
| Yatra SBI Card |
Rs 499+ Taxes |
Rs 499+ Taxes |
|
|
|
-- |
| IndusInd Intermiles Voyage Amex Credit Card |
Rs 2000 |
Rs 2000 |
|
|
|
-- |
| Kotak IndiGO Ka-Ching 6E rewards XL Credit card |
Rs 2500 |
Rs 2500 |
|
6E Rewards earned on every Rs 100 spent |
|
|
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| HDFC Visa Signature Credit Card |
|
Nil |
|
2 points on each Rs 150 spent |
|
Based on spending, you have to pay zero annual fees |
| SBI Platinum Corporate Credit card |
Rs 2999 |
Rs 2999 |
|
5X rewards on dining, grocery, and international spending |
|
-- |
| Axis bank Miles and More Credit Card |
Rs 3500 |
Rs 3500 |
|
High on rewards |
|
Cash and retail charges of 2.95% |
| HDFC Bank Millennia Credit Card |
Rs 1000 |
Rs 1000 + Taxes |
|
|
|
-- |
| American Express Platinum Travel Credit Card |
Rs 3500 + Taxes |
Rs 3500 + Taxes |
|
2 membership rewards points for each Rs 100 spent |
|
-- |
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| Yatra SBI Card |
Rs 499+ Taxes |
Rs 499+ Taxes |
|
|
|
-- |
| HDFC Regalia |
Rs 2500 |
Rs 2500 |
|
1 point = Rs 0.50 |
|
This card is not useful for shopping |
| Axis Bank Vistara Signature Credit card |
Rs 3000 |
Rs 3000 |
|
4 Cv points for spending Rs 200 |
|
-- |
| MakeMyTrip ICICI Bank Signature Credit Card |
Nil |
Rs 2500 |
|
Earn 40,000 rewards point using the card for travel needs |
No annual fee |
-- |
| American Express Platinum Travel Credit Card |
Rs 3500 + Taxes |
Rs 3500 + Taxes |
|
2 membership rewards points for each Rs 100 spent |
|
-- |
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| HSBC Cashback Credit Card |
Rs 750 |
Nil |
|
Provide unlimited cashback on the purchases |
|
-- |
| HDFC Millennia Credit Card |
Rs 1000 |
Rs 1000 + taxes |
8 complimentary airport lounge access |
|
|
-- |
| Axis Bank ACE Credit card |
Second year onwards, RS 499 |
Rs 499 + Taxes |
|
No rewards points |
|
|
| American Express SmartEarn Credit Card |
Rs 495 |
Rs 495 (waived off when spending Rs 40,000 or more) |
|
10X Rewards points on every Rs 50 spent on Flipkart, Amazon, and Uber |
|
|
| Bajaj Finserv Insta EMI Credit Card |
Rs 117+ GST |
Rs 412 |
|
Rs 500 cashback on the activation |
|
-- |
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| Flipkart Axis Bank Credit Card |
Rs 500 (from 2nd year) |
Rs 500 |
|
5% cashback on Flipkart and myntra |
|
-- |
| Amazon Pay ICICI Credit Card |
Nil |
Nil |
|
Earn 3% cashback on your spending on Amazon India |
Lifetime free credit card |
-- |
| American Express SmartEarn Credit Card |
Rs 495 |
Rs 495 (waived off when spending Rs 40,000 or more) |
|
10X Rewards points on every Rs 50 spent on Flipkart, Amazon, and Uber |
|
|
| IDFC First Millennia Credit Card |
Nil |
Nil |
Unlimited rewards points that never expire |
10X Reward points on incremental spends per month above Rs 20,000 |
|
-- |
| SBI SimplyCLICK Credit Card |
Rs 499 + Taxes |
Rs 499 + Taxes |
|
10 rewards points per Rs 100 on online purchases |
|
-- |
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| BPCL SBI Card Octane |
Rs 1499 |
Rs 1499 |
6.25% +1% fuel surcharge waiver on every transaction up to Rs 4000 |
25 Reward points for every Rs 100 spent on BPCL Fuel |
|
-- |
| ICICI HPCL Super Saver Credit Card |
Rs 500 |
Rs 500 |
4% cashback on fuel |
1.5% back in rewards points on fuel spending |
|
Supplementary card fee to pay Rs 100 |
| IndianOil Axis Bank Credit Card |
Rs 500 |
Rs 500 |
|
1 Edge reward point on each 100 spending |
|
-- |
| HDFC Bharat Cashback Credit Card |
Rs 500 |
Rs 500 |
|
Nil |
|
-- |
| ICICI Bank HPCL Platinum Credit Card |
Nil (second year onwards Rs 199+ GST) |
Rs 199+ GST |
|
2 Reward points on every Rs 100 spent on retail purchases, not fuel |
No add card fees |
-- |
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| HDFC Regalia |
Rs 2500 |
Rs 2500 |
|
1 point = Rs 0.50 |
|
-- |
| SBI Card Prime |
Rs 2999 |
Rs 2999 |
A gift voucher from pizza hut worth Rs 1000 on the spending of Rs 50,000 |
20 rewards points on spend of Rs 100 on a birthday |
Annual fee waive spending of Rs 3 lakh |
-- |
| Kotak Delight Platinum Credit Card |
Rs 299 |
Rs 1999 |
10% cash back on dining |
-- |
Get the same benefits on the add-on card as the primary card |
-- |
| Axis My Zone Credit Card |
Nil |
Rs 500 |
|
4 EDGE points on each Rs 200 spent |
EMI conversion |
-- |
| ICICI Bank Rubyx Credit Card |
Rs 2000 (waived off on spending of Rs 3 Lakh) |
Rs 3000 |
|
4 payback points on every 100 spent |
Save 15% on dining bills at a partner restaurant |
-- |
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| Axis My Zone Credit Card |
Nil, Rs 500 (2nd year onwards) |
Rs 500 |
|
4 EDGE points on each Rs 200 spent |
EMI conversion |
-- |
| Kotak PVR Gold Credit Card |
Rs 499 |
Nil |
|
5% cashback on a movie ticket at PVR |
Free movie ticket after achieving the milestone |
-- |
| SBI Card Prime |
Rs 2999 |
Rs 2999 |
Welcome e-gift voucher worth Rs 3000 |
10 rewards points for spending of Rs 100 on movie tickets |
Annual fee waive spending of Rs 3 lakh |
-- |
| IndusInd Bank Platinum Select Credit Card of life |
Rs 200 |
Rs 999 |
|
1 reward point for every Rs 150 spent |
|
-- |
| HDFC Titanium Times Credit Card |
Rs 500 |
Rs 500 |
|
2 reward points on every Rs 150 retails spend |
Easy EMI conversion |
-- |
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| Cashback SBI Card |
Rs 999 |
Nil |
|
-- |
Zero joining fees |
-- |
| HSBC Cashback Credit Card |
Rs 750 |
Nil |
|
-- |
Cashback on instant EMI |
-- |
| HDFC Millennia credit card |
Rs 1000 + Taxes |
Rs 1000 + Taxes |
|
-- |
|
-- |
| Axis Bank ACE Credit card |
Second year onwards RS 499 |
Rs 499 + Taxes |
|
No rewards points |
|
|
| Amazon Pay ICICI Credit Card |
Nil |
Nil |
|
1 rewards points = 1 Rs |
No joining and annual fees |
-- |
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| Amazon Pay ICICI Credit Card |
Nil |
Nil |
|
1 rewards points = 1 Rs |
No joining and annual fees |
-- |
| Flipkart Axis Bank Credit Card |
Rs 500 (from 2nd year) |
Rs 500 |
|
-- |
|
-- |
| YES Prosperity Credit Card |
Rs 399 + Taxes |
Rs 399 + Taxes |
5% cashback on grocery items |
2 rewards point on each Rs 200 spend |
|
-- |
| Axis Bank Select Credit Card |
Rs 3000 |
Nil |
|
10 EDGE rewards points on each Rs 200 spent |
No joining fees |
-- |
| American Express SmartEarn credit Card |
Rs 495 |
Rs 495 (waived off when spend Rs 40,000 or more) |
5X Rewards points on paytm wallet, wiggy, grofers and Big Bazaar |
5X Rewards points on paytm wallet, wiggy, grofers and Big Bazaar |
|
|
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| SBI Elite Credit Card |
Rs 4999 |
Rs 4999 |
|
2 Rewards point on Each Rs 100 spent on international transactions |
Low markup fees of 1.99% |
-- |
| IDFC First Wealth Credit Card |
Nil |
Nil |
|
10X Rewards point on all spend above Rs 20,000 |
|
-- |
| HDFC Diners Club Privilege Credit Card |
Rs 2500 |
Rs 2500 |
|
4 Rewards points on each Rs 150 spent |
|
-- |
| ICICI Bank Emeralde Credit Card |
Rs 12000 + GST |
Rs 12000 + GST |
|
4 Rewards points on each Rs 100 spent |
|
-- |
| Axis Bank Magnus Credit Card |
Rs 10,000 + GST |
Rs 10,000 + GST |
|
12 EDGE Rewards points for each Rs 200 spent |
|
-- |
| Card | Annual fees | Joining fees | Benefits | Rewards | Pros | Cons |
|---|---|---|---|---|---|---|
| Axis Bank ACE Credit card |
Second year onwards RS 499 |
Rs 499 + Taxes |
|
No rewards point |
|
|
| SBI SimplyCLICK Credit Card |
Rs 499 + Taxes |
Rs 499 + Taxes |
|
10 rewards points per Rs 100 on online purchases |
|
-- |
| HSBC Cashback Credit Card |
Rs 750 |
Nil |
|
-- |
Cashback on instant EMI |
-- |
| Flipkart Axis Bank Credit Card |
Rs 500 (from 2nd year) |
Rs 500 |
|
-- |
|
-- |
| YES Prosperity Credit Card |
Rs 399 + Taxes |
Rs 399 + Taxes |
|
2 rewards point on each Rs 200 spent |
|
-- |
A credit card is a way through which you can make Payments. The bank provides the customer fund on credit with pre-approved credit limits.
The customer must repay the money to the bank before the due date. Otherwise, they need to pay an interest rate on it.
You can apply for multiple credit cards, as the application is viewed separately.
The credit issuer sets the credit card limit depending on your income and CIBIL score. The credit limit is the maximum money you can borrow from the bank.
The credit card which is fulfilling the cardholder's need. Also, it is best to type a credit card where benefits are provided more than the annual and joining fees.
Debit cards allow you to make payments depending on the bank deposit. While on a credit card, you can borrow money from the card issuer with the credit limit. The money you have to repay before the due date.
The features which is important you need to look at while buying a credit card are
With the help of a credit card, you can purchase goods and make payments for services. After that, you have to repay the money before the due date. If you fail to pay on time, you must bear interest rates.
With the help of a credit card, you can purchase goods and make payments for services. After that, you have to repay the money before the due date. If you are unsuccessful to pay on time, you have to bear interest rates.
