The 5 Best Credit Cards for Rewards


The 5 Best Credit Cards for Rewards
The 5 Best Credit Cards for Rewards
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Credit cards are a convenient way to pay for purchases. They also offer rewards that can help you save money, earn points, and get cashback. With so many options available, it can be difficult to choose a card that offers the best rewards for your needs. Here are the five best credit cards for rewards in 2023.

  1. OneCard Credit Card: 

The OneCard credit card is India’s foremost metal credit card that offers attractive rewards. With OneCard, you can earn 5x reward points on the top two categories you spend on. For instance, if you spend most on fuel and food: you’ll get 5 times the reward points on these two spends.  Apart from this, you earn rewards on each transaction you make. You can redeem them for benefits, such as paying for your monthly bills, availing discounts, or using them as cash. With OneCard, you also don’t need to worry about any unnecessary redemption charges or your reward points expiring. So, this one metal card gets you all the rewards you can have with your monthly spending, and the rewards don’t even expire. Not only this, but it also offers a fuel surcharge waiver fee of 1%

  1. HDFC Regalia Credit Card – 

This card offers a welcome bonus of 10,000 reward points on payment of the joining fee and renewal fee. The cardholders can earn 4 reward points for every Rs 150 spent, which is equivalent to 2% cash back on travel, shopping, dining, and entertainment. They can also enjoy complimentary lounge access at airports, and there are no foreign currency transaction fees when they use the card for international transactions. The reward points can be redeemed for travel, hotel bookings, and air miles, among other options.

  1. Kotak Rewards Credit Card – 
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With Kotak Rewards Credit Card, you can earn 10 reward points for every Rs 125 spent on dining, groceries, and departmental stores, and 2 reward points for every Rs 125 spent on all other categories. You can earn up to 2,500 bonus reward points on your first purchase made within 90 days of card activation. Additionally, the card offers a fuel surcharge waiver and a 15% discount at partner restaurants. The earned reward points can be redeemed for a wide range of options, including airline tickets, hotel stays, shopping vouchers, and more.

  1. SBI SimplyCLICK Credit Card  – 

This card offers 1% cashback on all purchases, and an additional 1% cashback on online spending (except for wallet reloads and bill payments). This card does not have any restriction on the category or limit on the cashback earned. Cardholders can also enjoy benefits like milestone rewards, such as Amazon vouchers worth INR500 on achieving annual spending of INR1 lakh and INR2 lakhs. Additionally, there is no annual fee for the first year, and the annual fee from the second year onwards can be waived upon achieving annual spending of INR1 lakh.

  1. American Express Membership Rewards Credit Card – 

This card offers a flat reward rate of 1 Membership Reward point for every INR50 spent, which can be redeemed for travel bookings, shopping, dining, entertainment, and more. The card also offers a welcome bonus of up to 4,000 bonus Membership Reward points, which can be availed by spending a certain amount within the first 90 days of card issuance. Moreover, this card comes with various privileges such as complimentary lounge access, dining and travel benefits, and exclusive shopping deals.

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Choosing the Best Rewards Credit Card

When choosing a rewards credit card, there are several factors to consider, including your spending habits, preferred rewards, and card features. Here are some tips to help you find the best rewards credit card for you.

  1. Consider your spending habits: 

Before you choose from the best rewards credit card in India, look at your current spending habits and determine which categories you spend the most on. A travel rewards card may be the best fit if you frequently travel. If you spend a lot on groceries or dining out, a cashback card that offers bonus rewards for those categories may be a better choice.

  1. Evaluate the rewards program: 

Look at the rewards program and determine if the rewards are valuable to you. If you prefer cash back, look for a card with a high cashback rate. If you prefer travel rewards, look for a card that offers flexible redemption options and rewards for travel purchases.

  1. Review the fees: 

Review any fees associated with the card, such as annual fees, foreign transaction fees, or balance transfer fees. These fees can add up and negate the value of the rewards program.

  1. Check for sign-up bonuses: 

Many rewards credit cards offer sign-up bonuses for new card members. Make sure to review the requirements for the bonus and determine if it is worth pursuing.

  1. Consider additional benefits: 

Some rewards credit cards offer additional benefits, such as travel insurance, purchase protection, or airport lounge access. Review these benefits and determine if they are valuable to you.

To Sum It Up

Credit cards offer more than just a convenient way to make purchases. By using them strategically, you can earn rewards such as cashback, points, and travel rewards that can help you save money in the long run. With so many options available in the market, it can be difficult to decide which card is best for your needs. However, by considering factors such as your spending habits, preferred rewards, card features, and associated fees, you can select a card that provides the most value to you.

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