There are only a few different cards in India that offer direct cash-back but many such cards provide also offer cardholders the option to convert points into cash. This is a variable rate depending on which card you're using and some of them can offer cash rewards on certain purchase types or everything. We'll take you through the top six cards that we think give you the best reward points and cash-back incentives.
1. SBI Elite Card
You'll receive exclusive benefits thanks to SBI's rewards program, called Shop and Smile. S&S is versatile because it adapts to the purchase choices of each cardholder.
New joiners to the Elite Card will receive an electronic voucher As a welcome bonus. This voucher is valid for purchases from top brands including Yatra, Pantaloons and Marks and Spencer.
If you have any outstanding balances on your card statement you cannot pay by other means, you're free to use your cash-back rate and points to defray that cost.
For every one hundred rupees you spend, you'll earn two points on your SBI card. Not only that, you will earn five times this amount on any food, retail or international purchases. You'll be able to redeem these points for vouchers, accessories, appliances, and much more. If you spend various minimums annually, you'll also earn bonus points. Cardholders can earn up to ten thousand extra points each for spending three or four lakhs in one year and fifteen thousand points for spending five and eight lakhs, respectively.
All cardholders will receive complementary Silver Level Membership to the Vistara Club and become eligible for the Priority Pass Program which grants access to over one thousand airport lounges globally. The company also offers holiday packages and hotel deals.
2. Citibank Cash-back Card
This card is ideal for those who value direct cash over points.
Paying bills or making purchases, especially if done online, can earn up to ten percent cash-back all year round, though this is capped at one hundred rupees monthly. Cash-back perks add up each time you use your card though they are not shown on your statement. All such cash rewards are offered in multiples of five hundred rupees only.
You only need to tap the card onto any terminal that accepts contactless cards in order to make payments on the account.
3. Gold Amex
This is the card for those who tend to splurge a bit. Being a charge card, it provides greater flexibility than a credit card as there is no limit.
New joiners will receive four thousand bonus points if they use the card three times within the first two months of signing. They'll earn one point for every fifty rupees you spend on anything except for insurance, utility payments, cash advances, and fuel. Under 18k and 24k plans, cardholders can redeem points for cash credit seventy-five hundred or ten thousand rupees, respectively.
Finally, cardholders will receive discounts on trip purchases and dining experiences with this card.
4. MoneyBack Card by HDFC
This card is great for those who prefer high reward earnings. You can pay outstanding balances with its nice cash-back rate of twenty rupees per one hundred rewards points and earn two points for every one hundred and fifty rupees you spend. Additional perks include zero liability for any lost or stolen cards and one percent fuel costs waived from each transaction.
5. Pinnacle Credit Card
This card is made for people with fine tastes. It includes exclusive privileges related to travel and lifestyle and earns you higher reward points that can pay off outstanding balances. The welcome bonus brings large discounts from Jet Airways, Oberoi Hotels, and Genesis Luxury Vouchers that include discounts on many name brands. The cash-back rate can be converted to pay off the balance at a great rate of one rupee per reward point though it doesn't support over twenty-five thousand points in a single billing cycle. You'll earn one point for every one hundred rupees at a POS terminal and two-and-a-half points for every one hundred you spend online. Exceptions include travel and airline transactions but you can still choose from the categories listed above.
Additional perks for this card include a concierge booking service for flights, hotels, and events as well as access to over six hundred airport lounges globally.
6. Chartered Manhattan Platinum Card
Cardholders receive great cash-back rewards for purchasing necessities such as groceries or other everyday goods. Additional benefits include a five percent cash back rate on most department store and supermarket purchases as well as limits up to five hundred cash-back rupees per month. Just remember that you need to spend at least one thousand rupees per transaction to be eligible for this.
You can get three times the benefits when you use your card to purchases hotel, dining or airline reservations, and a range of options are available when it's time to redeem your points. Cardholders need at least five hundred reward points to activate redemption.
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