Credit Cards by Bank

Pick the card, not the bank. That is the honest answer, and it is the opposite of how most people shop. We review 16 cards across nine issuers. The single highest effective reward rate in that set belongs to Axis Bank. The second belongs to SBI Card. Neither bank is good across its whole range, and both also issue cards we would tell you to skip.

An issuer only decides three things that matter. It sets the approval bar. It runs the app you will use every month. And it owns the redemption engine that turns points into value. Everything else is set at the card level.

Which bank should I get my credit card from in India?

Use this table as a starting point, not a verdict. Fees are the annual fee before the 18% GST that is charged on top. Effective reward rate is our own blended estimate for a mixed spend pattern. It is not the accelerated rate an issuer advertises on one category. All figures are as of 15 August 2026, from issuer rate cards.

Issuer	Cards we review	Annual fee range (before GST)	Strongest card in our set	Who the issuer suits
HDFC Bank	4	₹1,000 – ₹12,500	Infinia (Metal), 3.3% effective	High spenders who will learn the SmartBuy redemption ladder
SBI Card	3	₹0 – ₹1,499	SBI Cashback, 4.2% effective	Online shoppers who want cash, not points
Axis Bank	2	₹499 – ₹5,000	Atlas, 4.5% effective	Frequent flyers who transfer miles to airline programmes
ICICI Bank	2	₹0 – ₹500	Amazon Pay ICICI, 2.0% effective	Amazon Prime households wanting a free card
American Express	1	₹4,500	Membership Rewards, 2.5% effective	Point maximisers who accept patchy acceptance
Federal Bank	1	₹0	Scapia, 3.0% effective	Travellers who want zero forex markup and no fee
IDFC First Bank	1	₹0	FIRST Select, 1.8% effective	A free card with a 1.99% forex markup
IndusInd Bank	1	₹0	Tiger, 1.2% effective	Lounge access without paying a fee
AU Small Finance Bank	1	₹0	LIT, 1.5% effective	People whose spending shifts through the year

Why does the issuer matter less than people think?

Two cards from the same bank can differ by three percentage points of return. Inside HDFC Bank, the Infinia returns 3.3% on our blended estimate and the Millennia returns 2.4%. Inside SBI Card, the Cashback card returns 4.2% and the Unnati returns 0.5%. Same bank. Same app. Eight times the difference in reward.

So the bank name tells you almost nothing about what you will earn. It tells you something about how easy the card is to live with.

What does the issuer actually control?

The approval bar

Issuers set their own credit floors. In our set, the entry cards ask for a score near 750 and an income near ₹3,00,000 a year. Premium cards ask for far more. If you are building history from zero, the issuer choice narrows sharply. Fix the score first. Our guide on how to improve a credit score covers the levers that move it fastest.

The redemption engine

This is where issuers really differ. HDFC Bank points are worth the most through SmartBuy, and much less as statement credit. Axis Bank EDGE Miles transfer to airline partners at fixed ratios. American Express points transfer too, but Amex acceptance in India is thinner than Visa or Mastercard. Cashback cards skip the problem entirely. The money lands on your statement.

Servicing and dispute handling

The RBI sets a floor here that applies to every issuer. Under the Master Direction on credit and debit card issuance, a closure request must be honoured within seven working days once dues are cleared. If the issuer misses that, it owes you ₹500 for every calendar day of delay. Unsolicited cards and unrequested upgrades are prohibited outright. If a card you did not ask for is billed to you, the issuer must reverse the charge and pay you twice the reversed amount. On a disputed transaction, the issuer has 30 days to give you an explanation and evidence.

Which issuer is worst on value?

We will say it plainly. Free entry cards from large issuers are usually poor value as reward products. The IndusInd Tiger returns 1.2% on our estimate. The SBI Unnati returns 0.5%. AU Bank LIT returns 1.5%. These cards earn their place for a different reason: lounge access, or a first credit line, or a flexible feature set. Judged purely on reward, a free card from a smaller issuer such as Scapia at 3.0% beats all three.

Does a second card from a second bank help?

Usually yes, if you pay in full. Two cards from two issuers spread your credit limit, which lowers utilisation. A common pairing is one cashback card for online spend and one travel card for forex and lounges. Our cashback card picks and first credit card guide cover both halves of that.

The pairing only works if the fees are earned back. A ₹5,000 annual fee becomes ₹5,900 with GST. At a 4.5% return, you must spend about ₹1,31,000 a year on that card just to break even on the fee.

Frequently asked questions

Which bank gives credit cards most easily in India?

Issuers do not publish approval rates, so nobody can rank this honestly. What is observable is the stated floor. Entry cards in our set list a minimum score around 750 and salaried income from about ₹3,00,000 a year. Banks also approve their own existing customers more readily, because they can see your salary credit and balance history.

Is HDFC Bank the best credit card issuer in India?

It has the deepest range in our set, with four cards from ₹1,000 to ₹12,500 a year. It does not hold the highest effective reward rate. Axis Bank does, on the Atlas. HDFC Bank suits you if you will actually use SmartBuy. If you will not, its points lose most of their value.

How do I close a credit card and how long does it take?

Clear all dues, then send a written closure request. The RBI requires the issuer to complete it within seven working days. Missing that deadline costs the issuer ₹500 per calendar day, paid to you. Redeem or transfer your points before you file the request, because they are usually forfeited at closure.

Do annual fees include GST?

No. Issuers quote fees before tax and bill 18% GST on top. A ₹999 fee costs ₹1,179. A ₹2,500 fee costs ₹2,950. A ₹12,500 fee costs ₹14,750. Fee waiver spend targets are also set on the pre-GST fee, so clearing the target still leaves the tax unrefunded in most schemes.

Can a bank issue me a card I never applied for?

No. The RBI Master Direction prohibits unsolicited cards and unrequested upgrades. The penalty is reversal of the charges plus twice that amount paid to you. Separately, if you do not activate a new card within 30 days, the issuer must get OTP consent from you before activating it.

Sources

Reserve Bank of India, Master Direction on Credit Card and Debit Card – Issuance and Conduct, clauses 6, 8 and 10 — rbi.org.in. Fetched 7 September 2026.
Credsir card data set: 16 cards, nine issuers, fees and reward estimates as of 15 August 2026, sourced from issuer rate cards.