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The credit cards that actually pay the most back

Every card claims rewards. This is the effective rate each one returns on the spending it is built for, next to what it costs to hold for a year.

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Published 22 September 2026

01 Axis Bank Atlas Credit Card

Axis Bank Atlas Credit Card — 4.5%

Effective reward rate 4.5% ₹5,000 a year

Up to 10% value back on travel spends via EDGE Miles. The effective return is 4.5% and the annual fee is ₹5,000. Best for frequent flyers who transfer miles to airline programmes.

Source: Credsir credit card database · as of 21 September 2026

02 SBI Cashback Credit Card

SBI Cashback Credit Card — 4.2%

Effective reward rate 4.2% ₹999 a year

5% cashback on all online spends with no merchant restriction. The effective return is 4.2% and the annual fee is ₹999, waived on ₹200,000 of spending. Best for anyone whose spending is mostly online.

Source: Credsir credit card database · as of 21 September 2026

03 HDFC Bank Infinia Credit Card (Metal)

HDFC Bank Infinia Credit Card (Metal) — 3.3%

Effective reward rate 3.3% ₹12,500 a year

5 reward points per ₹150, worth up to ₹1 each on SmartBuy flight and hotel bookings. The effective return is 3.3% and the annual fee is ₹12,500, waived on ₹1,000,000 of spending. Best for high spenders who can use smartbuy redemptions.

Source: Credsir credit card database · as of 21 September 2026

04 Scapia Federal Bank Credit Card

Scapia Federal Bank Credit Card — 3%

Effective reward rate 3% No annual fee

Zero forex markup on international spends, with unlimited domestic lounge access on spend. The effective return is 3% and the annual fee is nil. Best for international travellers who want zero forex markup without paying a fee.

Source: Credsir credit card database · as of 21 September 2026

05 Tata Neu Infinity HDFC Bank Credit Card

Tata Neu Infinity HDFC Bank Credit Card — 2.8%

Effective reward rate 2.8% ₹1,499 a year

Up to 10% back in NeuCoins across Tata brands, plus UPI payments on RuPay. The effective return is 2.8% and the annual fee is ₹1,499, waived on ₹300,000 of spending. Best for households that buy across tata brands and want upi on credit.

Source: Credsir credit card database · as of 21 September 2026

06 HDFC Bank Regalia Gold Credit Card

HDFC Bank Regalia Gold Credit Card — 2.6%

Effective reward rate 2.6% ₹2,500 a year

4 reward points per ₹150, with 5x on Nykaa, Myntra, Marks & Spencer and Reliance Digital. The effective return is 2.6% and the annual fee is ₹2,500, waived on ₹400,000 of spending. Best for mid-premium travel and lifestyle spending.

Source: Credsir credit card database · as of 21 September 2026

07 American Express Membership Rewards Credit Card

American Express Membership Rewards Credit Card — 2.5%

Effective reward rate 2.5% ₹4,500 a year

Membership Rewards points transferable to airline and hotel partners. The effective return is 2.5% and the annual fee is ₹4,500. Best for point maximisers who transfer to airline programmes.

Source: Credsir credit card database · as of 21 September 2026

08 BPCL SBI Card Octane

BPCL SBI Card Octane — 2.5%

Effective reward rate 2.5% ₹1,499 a year

25 reward points per ₹100 at BPCL outlets — about 7.25% value back on fuel. The effective return is 2.5% and the annual fee is ₹1,499, waived on ₹200,000 of spending. Best for heavy car users who can fuel at bpcl.

Source: Credsir credit card database · as of 21 September 2026

09 HDFC Bank Millennia Credit Card

HDFC Bank Millennia Credit Card — 2.4%

Effective reward rate 2.4% ₹1,000 a year

5% cashback on Amazon, Flipkart, Swiggy, Zomato and other partner merchants. The effective return is 2.4% and the annual fee is ₹1,000, waived on ₹100,000 of spending. Best for young professionals with heavy e-commerce and food delivery spending.

Source: Credsir credit card database · as of 21 September 2026

10 Axis Bank ACE Credit Card

Axis Bank ACE Credit Card — 2.2%

Effective reward rate 2.2% ₹499 a year

5% cashback on bill payments and recharges via Google Pay, 4% on Swiggy, Zomato and Ola. The effective return is 2.2% and the annual fee is ₹499, waived on ₹200,000 of spending. Best for everyday cashback on bills and food delivery.

Source: Credsir credit card database · as of 21 September 2026

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