Credit cards are one of the most convenient and rewarding ways to pay for your purchases. However, choosing the right credit card can be a difficult task, as there are multiple credit card options available in the Indian market, each with different features, benefits, fees, and rewards. How do you know which credit card is best for you based on your income, spending habits, preferences, and goals?

In this blog post, we have made a list of the top 10 credit card companies in India and their top credit cards based on the number of active credit card holders, according to the data released by RBI. You can quickly compare the best credit cards for salaried person, the best credit cards for online shopping, and the best credit cards for students and make the right choice for your credit needs.

Best Credit Cards in India: Top Banks with Maximum Credit Card Holders

Best Credit Cards in India: Leading Banks with Maximum Holders 

Bank Name	Credit Card Holders	Bank Type
HDFC BANK LTD	19,512,140	Private
STATE BANK OF INDIA	18,251,184	Public
ICICI BANK LTD	16,206,426	Private
AXIS BANK LTD	13,437,470	Private
KOTAK MAHINDRA BANK LTD	5,666,441	Private
RBL BANK LTD	4,944,182	Private
INDUSIND BANK LTD	2,659,808	Private
BANK OF BARODA	2,183,629	Public
IDFC FIRST BANK LTD	2,116,838	Private
YES BANK LTD	1,751,652	Private

The data has been taken from the latest data released by RBI on the credit cards held by the above banks till November 2023.

Overview of Top 10 Credit Cards in India

1. HDFC Bank Pvt Ltd

HDFC  Credit Cards make handling your expenses easy, whether you’re booking a hotel, or a flight, paying bills, or shopping online or in stores. These cards are reliable for both small and large expenses.

Signing up for an HDFC Bank Credit Card comes with exclusive advantages for new cardholders. Beyond additional rewards for annual spending above a specific limit, the card offers SmartEMI, allowing users to convert purchases over ₹2,500 into convenient Equated Monthly Instalments with competitive interest rates. The card also facilitates secure and swift contactless payments, both online and in-store, activated through MyCards. When shopping abroad, selected HDFC Bank Credit Cards offer competitive foreign currency markups, ensuring more savings.

Now, let’s take a look at some of the best credit cards for salaried individuals and students:

Millennia Credit Card

This card is considered to be one of the best credit cards for students in India.  It provides various benefits, such as 5% Cashback on Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber, and Zomato. Additionally, you can get ₹1000 worth of gift vouchers for spending ₹1,00,000 or more in each calendar quarter, and you get 8 free visits to Domestic Airport Lounges every year.

Paytm HDFC Bank Digital Credit Card

Up to 2% Accelerated Cashback on Scan & Pay.

Up to 2% Cashback on Swiggy & Uber spends.

Customise your card the way you like.

Instant issuance/virtual credit card.

MoneyBack Credit Card

Two reward points for every ₹150 spent and 2x reward points for shopping online.

Reward points redemption as cashback against credit card dues, exclusive gifts, or air miles.

Savings up to ₹250 every billing cycle with a 100% fuel surcharge waiver.

2. SBI

Second on the list of the best credit cards in India; SBI has some unique credit card offerings:

SBI Card ELITE

Welcome e-Gift Voucher worth Rs. 5,000 on joining.

Free movie tickets worth Rs. 6,000 every year.

Earn up to 50,000 Bonus Reward Points worth Rs. 12,500/year.

Complimentary membership to Club Vistara and Trident Privilege program.

SBI Card PULSE

• Receive a Noise ColorFit Pulse 2 Max Smartwatch valued at Rs. 5,999 upon payment of the joining fees.
• Get a 12-month membership for FITPASS and Netmeds First Pass upon payment of joining fees and card activation.
• Earn 5X Reward Points on spending at Chemists, Pharmacies, Dining, and Movies.
• Attain an E-Voucher worth Rs. 1,500 by achieving retail spends of Rs. 4 Lakh in one annual year.

Doctor’s SBI Card (in association with IMA)

• Professional Indemnity Insurance cover of Rs. 20 Lakhs.
• e-Gift Voucher worth Rs. 1,500 on joining.
• 5X Reward Points on Medical Supplies, Travel Bookings, International Spends, and Doctors’ Day.
• e-Gift Voucher worth Rs. 5,000 on annual spends of Rs. 5 Lakhs.

SBI Card ELITE Advantage

Welcome e-Gift Voucher worth Rs. 5,000 on joining.

Free movie tickets worth Rs. 6,000 every year.

Earn up to 50,000 Bonus Reward Points worth Rs. 12,500/year.

Complimentary membership to Club Vistara and Trident Privilege program.

Doctor’s SBI Card

Professional Indemnity Insurance cover of Rs. 20 Lakhs.

e-Gift Voucher worth Rs. 1,500 on joining.

5X Reward Points on Medical Supplies, Travel Bookings, International Spends, and Doctors’ Day.

e-Gift Voucher worth Rs. 5,000 on annual spends of Rs. 5 Lakhs.

Union Bank Simply SAVE SBI Card

Experience the benefit of earning 10 Reward Points for every Rs. 150 spent on Dining, Movies, Departmental Stores, and Grocery Spends. Additionally, enjoy an annual fee reversal when your spending reaches Rs. 100,000 and above. This card is designed to enhance your rewards and make your spending more rewarding.

3. ICICI Credit Cards

Discover some of the best credit cards offered by ICICI Bank

Platinum Credit Card

Zero Joining and Annual Fees.

Earn 2 Rewards Points per Rs. 100 spent, except on fuel.

Enjoy a 1% Fuel Surcharge waiver at HPCL petrol pumps.

Coral Credit Card

Avail a 25% discount on movie tickets twice a month on BookMyShow and Inox.

Receive one Complimentary Railway and Domestic Airport Lounge Access per quarter.

Benefit from a 1% Fuel Surcharge waiver at HPCL Petrol Pumps.

Sapphiro Credit Card

Welcome vouchers worth Rs. 9000+.

Enjoy a Buy One, Get Rs. 500 off on the second movie ticket, twice a month, on BookMyShow.

Receive two Complimentary International Airport Lounge Accesses per year.

Get four Complimentary Domestic Airport Lounge Accesses per quarter.

Joining Fee: ₹6500+GST, Annual Fee: ₹3500+GST.

ICICI Bank Credit Cards are crafted to meet your diverse needs. Take advantage of exclusive deals, discounts, and competitive fees. With favourable interest rates and flexible EMI options tailored to your preferences, these cards enhance your financial experience. Seize the opportunity to optimise your financial journey by applying now and enjoying these benefits.

4. AXIS BANK LTD

Axis Bank offers various types of credit cards suited to the different financial needs of individuals, including shopping, movies, lifestyle, travel, etc.

Some of its popular Credit Cards for Salaried Class:

• Flipkart Axis Bank Credit Card: Shopping with welcome benefits of Rs 600 and joining fee and annual fee of Rs 500 each. 
• Neo Credit Card with zero joining and annual fee (limited offer available on selected channels), and Indian Oil Axis Bank that offers cashback of up to Rs 250 on fuel spending. It also has a joining and annual fee of Rs 500 each.

5. KOTAK MAHINDRA BANK LTD

Using credit cards from Kotak Mahindra does not incur additional charges. However, if the credit card bill is not paid by the due date, late payment charges, along with applicable GST, will be imposed. Furthermore, interest will be applied to all unpaid transactions until a partial payment is received and then on the remaining balance until the next statement date.

Some of the Best Credit Cards offered are:

Myntra Kotak Credit Card

Joining Fee: INR 500 | Annual Fee: INR 500

Instant Discount of 7.5%* on Myntra

Cashback of 5%# on our Exclusive Partners – Swiggy, Swiggy Instamart, PVR, Cleartrip, Urban Company

Unlimited Cashback of 1.25% on all other spends**

PVR INOX Kotak Credit Card

Joining Fee: ₹ 0 | Annual Fee: INR 499

Unlimited* Movie Tickets: one ticket for every INR 10,000 spent on the card

20% Instant Discount* on Food & Beverages

5% Instant Discount* on movie tickets

Kotak UPI RuPay Credit Card

Joining Fee: Nil | Annual Fee: Nil

Earn 3 Reward Points* per ₹100 spent

Enjoy the facility of UPI Payment on Credit Card

Virtual Lifetime Free Credit Card

Mojo Platinum Credit Card

Joining Fees: INR 1000 | Annual Fee: INR 1000

Earn unlimited 2.5 Mojo points for every Rs. 100 on online spends and 1 Mojo point for every Rs. 100 on other spends.

Get 2500 Mojo points every quarter on spends of 75000

6. RBL Bank

RBL Bank offers over 25 credit cards across various categories, including cashback, entertainment, rapid rewards, travel/lifestyle, and more. Some standout credit cards include the ShopRite credit card, which provides a 10% discount on movies, the World Safari card with 0% markup fees on foreign transactions, and the Platinum Maxima Plus Credit Card, offering elevated living with a welcome benefit of 10,000 points, among many others.

Some of the more available options include the LazyPay Credit Card (lifetime free), the Movies and More Credit Card (with 500 rs benefits on monthly spending of 15,000), and the Blockbuster Credit Card, offering 4 complimentary visits to domestic airport Check out the Best Credit Cards in Indialounges per year.

7. IndusInd Bank Credit Cards

IndusInd Bank provides various credit cards to meet different financial needs and preferences in India. 

IndusInd Bank Nexxt Credit Card

It’s India’s first interactive credit card, allowing you to choose between three payment options at the point of sale: EMI, Rewards, or Credit. Simply press a button on the card, and the LED light will show your chosen option.

IndusInd Bank Platinum Visa Credit Card

This exclusive lifestyle credit card offers top-notch privileges in travel, dining, and shopping. For every ₹150 spent on all purchases, you earn 1.5 reward points. It’s designed to enhance your overall experience.

IndusInd Platinum RuPay Credit Card (Enabled on UPI)

This card works with UPI and is known as the Platinum RuPay Credit Card.

Legend Credit Card

With the Legend Credit Card, you earn 1 reward point for every 100 rupees you spend.

8. Bank of Baroda

Bank of Baroda offers a diverse range of credit cards. Let’s explore a few of them:

Bank of Baroda Vikram Credit Card

Specifically designed for Defence Personnel and veterans, the BoB VIKRAM Credit Card offers exclusive benefits, including 5X Rewards (5 Reward Points for every ₹100 spent) on Grocery, Movies, and Departmental stores. Additionally, you receive a complimentary 3-month Disney Hotstar subscription upon card activation.

IRCTC BoB Credit Card:

Enhance your train journeys with the IRCTC BoB Credit Card, offering up to 40 reward points per ₹100 spent on train ticket bookings through the IRCTC Website & Mobile App. You also earn 4 reward points for every ₹100 spent on grocery & departmental store purchases and 2 reward points for other categories.

Easy Credit Card

The Bank of Baroda EASY Credit Card is your perfect companion for extra savings on everyday shopping. Enjoy 5X Rewards (5 Reward Points for every Rs. 100 spent) on Departmental stores and movie spending, along with a 1% Fuel Surcharge Waiver at all fuel stations across India.

Bank of Baroda’s Credit Cards not only provide a higher credit limit but also offer up to 50 days of interest-free credit and fantastic opportunities to save through reward points.

9. IDFC First Bank

IDFC FIRST BANK LTD offers variety of credit cards designed to cater to various needs. Here are a few notable ones:

First Wealth Credit Card

• Earn up to 36 Reward Points on Online Spends for every INR 200 spent.
• Lounge Access: 6 visits per quarter for domestic lounges and unlimited visits for international lounges.
• Get a Buy 1 Get 1 Free Movie Ticket when booked through BookMyShow.

RESERVE Credit Card

• Earn up to 24 Reward Points for every ₹200 spent.
• Lounge Access: 3 visits per quarter for domestic lounges and 6 visits per year for international lounges.
• Enjoy a 25% Discount on the Movie Tickets booked through BookMyShow (formerly YES First Exclusive).

ELITE Premium Card

• Earn up to 12 Reward Points for every ₹200 spent.
• Lounge Access: 2 visits per quarter for domestic lounges and 3 visits per year for international lounges.
• Avail a 25% discount on Movie Tickets when booked through BookMyShow (formerly YES Premia).

10. YES Bank

Credit cards by YES Bank are designed to offer various benefits and rewards to cardholders. They have different types of credit cards, such as FinBooster RuPay Credit Card, YES FIRST Corporate Credit Card, and YES Prosperity Purchase Credit Card, to suit different needs and preferences.  

Lifetime-Free Credit Card

Enjoy a credit card with no annual or joining fees throughout its lifetime.

Power of UPI Payments:

Harness the convenience of making UPI payments directly using your credit card.

Accelerated Reward Points:

Earn accelerated reward points not only on UPI transactions but also on various other spending categories.

Instant EMI and EMI on Call:

Access Instant EMI and EMI on call options for transactions as low as INR 1500, providing flexibility in managing your expenses.

First Wealth Credit Card

Up to 36 Reward Points on Online Spends per INR 200 Spent.

Lounge Access: Domestic – 6 per Quarter, International – Unlimited.

Buy 1 Get 1 Free Movie Ticket booked through BookMyShow.

RESERVE Credit Card

Up to 24 Reward Points per ₹200 spent.

Lounge Access: Domestic – 3 per Quarter, International – 6 per Year.

25% Discount on Movie Tickets booked through BookMyShow (previously YES First Exclusive).

ELITE Premium Card

Up to 12 Reward Points per ₹200 spent.

Lounge Access: Domestic – 2 Per Quarter, International – 3 Per Year.

25% Discount on Movie Tickets booked through BookMyShow (previously YES Premia).

Best Credit Cards for Students in India

There are several credit cards that are designed for students in India, either with low or no income or with the purpose of travelling abroad. Here are some of the best credit cards for students that you can consider based on your needs and eligibility:

1. IRST WOW! Credit Card

• Eligibility Criteria:
  • Specifically designed for students with no credit history or income proof requirements.
• Exclusive Benefits:
  • Earn an attractive 7.5% interest on Fixed Deposit (FD).
  • Enjoy 4X Reward Points on all credit card transactions.
  • Access to a high credit limit with no joining or annual fees.
  • Immediate 100% ATM cash withdrawal limit.
• Security and Bonus Features:
  • 811 #DreamDifferent Shield for card protection against theft and fraud.
  • An activation bonus of 500 reward points after spending Rs. 5,000.
• Financial Flexibility:
  • Interest-free cash withdrawals for up to 48 days.
  • Credit limit extends up to 90% of the fixed deposit amount.
  • Transparent credit limit information provided at the time of application.

2. ICICI Student Forex Prepaid Card

• Enrollment Perks:
  • Enjoy substantial joining benefits totaling INR 5,000.
  • Includes an International Student Identity Card (ISIC) membership valued at INR 999.
  • Receive a complimentary international SIM card for overseas travel.
  • Avail a 20% discount on DHL courier services.
• Security and Insurance Coverage:
  • Comprehensive Card Protection Plus insurance worth INR 1,600.
  • Coverage for lost or counterfeit cards, with liability protection up to INR 5,00,000.

3. Kotak Mahindra 811 #DreamDifferent Credit Card

• Unique Features:
  • Establish a credit card through a fixed deposit at Kotak Bank without any annual fees.
  • Tailored for students, eliminating the need for credit history or income proof.
  • An impressive cashback offer on annual spending.
• Financial Benefits:
  • Interest-free cash withdrawals for up to 48 days.
  • High credit limit, known upfront at the time of application, reaching up to Rs. 16 lakhs.

Best Credit Cards for Online Shopping in India

•  HDFC BANK LTD

Some of the best HDFC credit cards for online shopping are HDFC Millennia Credit Card, HDFC Moneyback+ Credit Card, HDFC Diners Club Privilege Credit Card, and HDFC Regalia Credit Card. These cards offer cashback, reward points, discounts, and other benefits on various online platforms such as Amazon, Flipkart, Myntra, Nykaa, etc. 

•  STATE BANK OF INDIA

Some of the best SBI credit cards for online shopping are Cashback SBI Card, Amazon Pay ICICI Credit Card, SBI SimplyCLICK Credit Card, and IRCTC SBI Credit Card. These cards offer cashback, reward points, discounts, and other benefits on various online platforms such as Amazon, IRCTC, BookMyShow, Cleartrip, etc. 

•  ICICI BANK LTD

Some of the best ICICI credit cards for online shopping are Amazon Pay ICICI Credit Card, ICICI Bank Sapphiro Credit Card, ICICI Bank Rubyx Credit Card, and ICICI Bank Emeralde Credit Card. These cards offer cashback, reward points, discounts, and other benefits on various online platforms such as Amazon, MakeMyTrip, BookMyShow, Swiggy, etc. 

•  AXIS BANK LTD

Some of the best Axis credit cards for online shopping are Flipkart Axis Bank Credit Card, Axis Bank ACE Credit Card, Axis Bank Buzz Credit Card, and Axis Bank Neo Credit Card. 

•  KOTAK MAHINDRA BANK LTD

Some of the best Kotak credit cards for online shopping are Kotak PVR Platinum Credit Card, Kotak Indigo Ka-Ching 6E Rewards Credit Card, Kotak White Credit Card, and Kotak Cookies Credit Card. These cards offer reward points, discounts, vouchers, and other benefits on various online platforms such as PVR, IndiGo, Amazon, BookMyShow, Uber, Myntra, etc.

•  RBL BANK LTD

Some of the best RBL credit cards for online shopping are ShopRite Credit Card, c, Icon Credit Card, and Platinum Maxima Plus Credit Card. These cards offer reward points, discounts, vouchers, and other benefits on various online platforms such as Myntra, Nykaa, Marks & Spencer, Reliance Digital, Disney Hotstar, etc. 

•  INDUSIND BANK LTD

Some of the best IndusInd credit cards for online shopping are IndusInd Bank Legend Credit Card, EazyDiner IndusInd Bank Credit Card, IndusInd Bank Platinum Credit Card, and IndusInd Bank Avios Visa Infinite Credit Card. 

•  BANK OF BARODA

Some of the best Bank of Baroda credit cards for online shopping are the Bank of Baroda Vikram Credit Card, IRCTC BoB Credit Card,  and some of the ones are meant for army personnel, such as Indian Army Yoddha BoB Credit Card, and more.

•  IDFC FIRST BANK LTD

Some of the best IDFC FIRST credit cards for online shopping are FIRST Millennia Credit Card, FIRST Private Credit Card, FIRST Select Credit Card, and FIRST WOW! Credit Card. 

•  YES BANK LTD

Some of the best YES BANK credit cards for online shopping are YES FIRST Preferred Credit Card, YES FIRST Exclusive Credit Card, YES Premia Credit Card, and YES Prosperity Edge Credit Card. 

Key Features to Consider Before Applying for the Best Credit Card in India

Credit cards have different features that can affect how much you pay and what benefits you get. Some of the features to watch out for before applying for the best credit card in India are:

• Credit Score:

This is a number that shows how well you have used credit in the past. It can range from 300 to 900. The higher your credit score, the more likely you will get approved for a credit card and get better offers and rewards. You can check your credit score for free on websites like CIBIL, Experian, or Equifax.

•  Annual Fee:

Some credit cards have no annual fee, while others may charge a high fee. You should compare the annual fee with the benefits that the credit card offers. Sometimes, a credit card with a high annual fee may offer more rewards, discounts, or cashback than a credit card with a low or no annual fee 

•  Credit limit: 

This is the maximum amount of money that you can borrow from your credit card at any given time. It depends on your income, credit score, and other factors. You should choose a credit card with a credit limit that suits your spending habits and needs. If your credit limit is too low, you may not be able to buy what you want. If your credit limit is too high, you may be tempted to overspend and get into debt.

•  Interest Rate: 

This is the rate of interest that you have to pay on the money that you borrow from your credit card. It is usually expressed as an annual percentage rate (APR). The interest rate can vary depending on the type of credit card, the type of transaction, and the payment behaviour. Some credit cards offer a low or zero interest rate for a certain period of time, such as 6 months or 12 months. This can help you save money if you pay off your balance within that period. However, if you do not pay off your balance in full every month, you will have to pay a high-interest rate on the remaining amount.

•  Rewards: 

These are the benefits that you get for using your credit card. They can include points, miles, cashback, vouchers, discounts, or other perks. You can redeem your rewards for various things, such as travel, shopping, entertainment, or bill payments. Different credit cards offer different types of rewards and different ways of earning and redeeming them. You should choose a credit card that offers rewards that match your preferences and lifestyle.

These are some of the features to watch out for before applying for the best credit card in India. You should compare different credit cards based on these features and choose the one that suits you the best. 

FAQs | Best Credit Cards for Salaried Persons and Students:

Source- rbi.org.in

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Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.