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Check out different types of credit cards available in India, including options like cashback, lifetime free, co-branded & more
These types of credit cards (CCs) provide a percentage of all credit card purchases or spends in the form of cashback. The percentage of cashback can vary depending on which bank’s card chosen but it’s usually between 1% to 3%.
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Lifetime free credit cards are a type of CCs that usually do not have any joining fees or any other type of annual fees. These cards are usually offered to potential customers as a way to entice them to avail the bank’s services.
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Banks in India have partnered up with brands and have created co-branded credit cards that give exclusive advantages when shopping with those particular brands. For e.g., Axis Bank Flipkart credit cards or ICICI Bank Amazon credit cards allow users to get extra cashback when shopping through these companies.
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Reward point credit cards provide a certain number of reward points for a particular amount of money spent. These reward points can be converted to cash, redeemed to buy new things from eligible stores or avail special offers.
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Travel credit cards are a type of CC that provide users with reward points and cashback on travel expenses like train and bus tickets, flight bookings, hotels, Airbnb payments, etc. Moreover, these reward points and cashback can be used to avail exclusive travel-related offers.
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Fuel credit cards are a type of CCs that provide cashback and rewards on all purchases related to any kind of fuel like petrol, diesel, vehicle oils, etc. This type of credit card is usually created by banks in collaboration with oil companies.
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Premium credit cards are exclusive CCs that are available for high-income and high-net-worth individuals as the fees on these cards are very high. These CCs provide a host of luxurious benefits like airport lounge access, golf course visits, fine dining offers, healthcare, and much more.
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These are special CCs that offer users the option to take pre-approved loans through the CCs or withdraw cash from an ATM using the CC in the form of a loan. No interest is charged on these cards for the first 50 days, but these CCs do not offer any noteworthy facility other than the loan.
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