In India, it can be difficult to obtain a new credit card if your credit history is already in bad shape. But bad credit shouldn’t stop you from getting a new credit card if you need one. Credit cards are useful tools because they work not only as payment methods, but also as short term lending devices which can have a significant impact – both positive and negative – on your credit record. Because of this, getting a credit card can actually help you improve your credit history, so you will be able to get a mortgage, take out a loan, or get a new car. Some types of credit cards are even better at improving your credit than others.
Here are the most popular credit cards in India that you may want to consider if you have difficulties obtaining one:
Super Value Titanium Standard
The Super Value Titanium Standard is a suitable card, if it is the first time that you are requesting a credit card and most of your monthly expenses are in bills for fuel, telephone, and utilities. The Super Value Titanium Standard credit card pays 5% cashback on fuel and utility payments. The annual fee is F50 rupees (exemption for the expenditure of 60,000 in the first year) The fees of the first year can be revoked even if the card is provided within 90 days of approval. Clearly, you should consider this credit card if your monthly expenditure is at least Rs 5,000 (12 * 5K = 60K per year).
ICICI Amazon Pay credit card
Amazon launched the ICICI Amazon Pay Credit card in 2018 to offer additional benefits to Prime customers. The only problem is that it is not possible to directly request this credit card from a website. In order to get this credit card, you will have to accept an invitation in your Amazon mobile app and receive an email from Amazon. Make sure to add your existing ICICI credit card to your Amazon account for the invitation. If you do not have an ICICI credit card, apply for a free lifetime platinum credit card. It offers benefits like 5% refund on Amazon.in, for Amazon Prime customers 3% refund on Amazon.in, for non-core customers 2% refund on payments to merchants who use this card on Amazon Pay as a method Payment and 1% refund on all other payments 1% discount on fuel surcharge.
American Express Rewards®
The American Express Rewards® card is the only credit card that offers rewards by adding money to your pockets through apps such as Paytm, Amazon Pay and Freecharge. Amex downplayed the benefits of its Gold Charge Card when it launched a reward card in 2018. Annual fee: the first year is 1000 Rs.(after the second year is 4500 Rs.) You can get 1000 bonus points for using the card 4 times a month. The disadvantage is of this card that you get no reward for fuel, insurance, public services and cash transactions.
ICICI Instant Platinum Card
Getting your first credit card in India is not easy. The ICICI Bank offers you a fixed deposit with an instant credit card if you have a saving account with ICICI Bank. You can simply log into ICICI online banking and apply for the card. If you have doubts about the CIBIL score just because you want to apply for a credit card, you should try ICICI Instant Platinum Credit Card. The annual fee is 199 Rs (exemption for spending 2000 Rs within 60 days after the approval). Who should apply? The ICICI credit card is a good option for students, housewives and unpaid people, if they wish to apply for a credit card against a fixed deposit. Paid people must apply for the standard Platinum Chartered award card (free for life). You will have benefits like 2 amortization points for each rupee; 1 amortization point for every spent 100 Rs in insurance and public services; twice a month will have a discount of 100 Rs on cinema tickets; 1% fuel surcharge exemption can be used for HPCL pumps for fuel transactions of up to 4,000 Rs. ICICI Bank will provide you with a credit limit based on the amount held in fixed deposits. You will earn regular interest on your fixed deposit.
Standard Platinum Reward Card Rental
The good thing is about this card that when you use your credit card within the first 90 days, you will get back 250 Rs. There is no annual fee, but you are charged for using the card after approval. It’s better for salaried people who have all-round credit cards. The benefits are: easy approval for salaried people; if you make transactions within 60 days, you get another 1000 reward points; you get bonus 500 points for registration; for online banking 20% cashback on Uber ride; 5 points to spend 150 rupees in restaurants; 5 points to spend 150 on fuel; 1 loyalty point for spending 150 in another category and further discounts and offers from Ola, Uber, Growers, Travel, etc., which change over time.
1] Standard Chartered: Super Value Titanium
[2] ICICI Bank: Amazon Pay credit card
[3] American Express: Membership Rewards
[4] ICICI Bank: Instant Platinum Card
