Top 3 Entry Level Credit Cards choices In India

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The most essential component of a luxury hack is the ownership of credit card. Hence, our first blog focused on the same.

We have seen how credit cards offers and rewards helps to achieve the luxuries of your dreams. Let us move our focus on how to start your journey on the right foot. We are going to give you an idea about the Top 3 Entry-Level Credit Cards you should try to get your hands on for a rewarding experience.

ICICI AMAZON PAY CREDIT CARD

Amazon & ICICI Bank are two behemoths that needs no introduction. They have combined forces and come up with one of the most mouth-watering entry level cards in recent times.

A card that rewards you directly as cashback on Amazon Pay. This means no hassle of redemption against specific products. Amazon Pay ecosystem can be used for almost anything today including all kinds of bill payments & recharges.

Key Highlights of the Credit Card:

  • No Joining Fee / Annual Fee
  • Joining Benefit – Rs. 500 Amazon Pay Cashback
  • Reward Rate – 1% to 5%
  • 5% Cashback on Amazon.in for Amazon Prime Customers
  • 3% Cashback on Amazon.in for Non-Prime Customers
  • 2% Cashback for using this card for merchants with Amazon Pay as payment method
  • 1% Cashback for all other payments
  • Fuel Surcharge waiver
  • Dining Offers at 2500 restaurants across India through Culinary Treats Programme

With Amazon India delivering all kinds of products and Amazon Pay’s acceptability almost everywhere, one can easily get 5% cashback on almost all transactions.

AXIS FLIPKART CREDIT CARD

Walmart’s blue-eyed boy, Flipkart was one of the first Indian E-Commerce sites to make it to the big leagues. To continue the growth story, Flipkart initially tied up with Axis bank for a half-baked Axis Buzz Card which gave the cardholders certain days of months for discounts on Flipkart. Finally, Flipkart decided to have a proper co-branded credit card and the Axis Flipkart Card was launched.

Key Highlights of the Credit Card:

  • Joining Fee – Rs. 500 + Taxes
  • Annual Fee – Rs. 500 + Taxes (Waived off if annual spends on card above 2 Lakhs)
  • Welcome Benefit – Rs. 500 worth Flipkart Voucher on first swipe / use of the card
  • Other welcome benefits available on Gaana Plus Membership, Goibibo, MakeMyTrip, Myntra & Urban Clap
  • Reward Rate – 1.5% to 5%
  • 5% Cashback on Flipkart, Myntra & 2GUD
  • 4% Cashback on Preferred Merchants List which include the likes of MakeMyTrip, Uber, PVR, UberEats, GoIbibo etc.
  • 1.5% Cashback for all other payments
  • 4 Complimentary Airport Domestic Lounge Access (Excellent for an Entry-Level Card)
  • Fuel Surcharge waiver
  • Dining Offers at Partner restaurants of Axis bank Dining Delights Programme

While this card stands at par with the ICICI Amazon Pay Credit Card on most aspects, but a stronger Amazon ecosystem makes it rank lower.

AMERICAN EXPRESS MEMBERSHIP REWARDS CREDIT CARD (MRCC)

American Express or AMEX as it is popularly known is often perceived as the most desirable credit card ecosystem in the world. Their customer service is top notch when compared to the other credit card issuers in our country. Amex requires you to hold at least one credit card from some other bank and have an ITR of Approx. 6 Lakhs (Relaxed in most cases when first criteria is fulfilled).

Key Highlights of the Credit Card:

  • Joining Fee – Rs. 1,000 + Taxes (NIL currently, if applied using THIS LINK)
  • Annual Fee – Rs. 4,500 + Taxes
  • Annual Fee Waiver – 100% on crossing 1.5 Lakhs spends or 50% on crossing Rs. 90,000 in a card anniversary year
  • Welcome Benefit – 4000 Points ~ 1000 Rs Minimum (On Payment of Joining Fee)
  • Reward Rate – 1% to 14.5%
  • 2 Membership Points per 100 Rs. spent (Except Fuel, Utilities & Insurance)
  • 1000 Bonus points every calendar month for 4 x 1000 Rs. transaction in that month
  • Specially curated 18K and 24K Gold Collection Rewards Redemption
  • Fuel Surcharge waiver at HPCL Fuel Bunks

This best way to use this card is to load up PayTm, Amazon Pay or likes to achieve those four 1000+ Rs. Transactions for the 1000 Membership Reward Bonus Points. American Express Cards offer some unique luxury rewards. Rs. 14,000 worth Taj Vouchers available as part of the 24 Karat Gold Collection. This means that you can redeem 24,000 Membership Reward Points for a Rs. 14,000 worth Taj Vouchers. These vouchers can get you almost a couple of nights on decent Taj, SeleQtions or Vivanta Properties across India. Check out this link for more details.

Here is a quick simplified selection criterion if the above choices confused you:

  1. If you are already an Amazon Prime member, go for the ICICI Amazon Card
  2. If you are a Flipkart Plus Member, opt for the Axis Flipkart Card as it gives a higher reward rate on non-affiliated brands
  3. If you prefer PayTm Transfers and / or pay bills using PayTm, opt for Amex MRCC and load PayTm wallet with 1000 Rs. four times a month

Always read the terms and conditions before you apply. As usual, we are always here to help you out with any queries you have on these or other credit cards in India.

Comment below which was the first credit card you owned and what made you choose it. Till next time Ciao.

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