The credit card market in India has evolved significantly, with issuers now offering world-class rewards to attract India’s growing middle and affluent classes. According to the Reserve Bank of India (RBI), credit card spending in India reached ₹1.4 trillion monthly in early 2025, representing a 32% year-over-year increase. This surge in usage has prompted banks and fintech companies to develop increasingly competitive reward programs.
Comprehensive Comparison of Top Rewards Credit Cards in India
Premium Rewards Credit Cards in India – Data Comparison
| Card Name | Annual Fee | Welcome Bonus | Reward Rate | Airport Lounge Access | Fuel Surcharge Waiver | Annual Spend Bonus |
|---|---|---|---|---|---|---|
| Scapia Metal | ₹4,999 | 20,000 points (₹5,000 value) | 5% on dining, 3% on travel, 2% on shopping | Unlimited (domestic & int’l) | 100% waiver | ₹15,000 voucher on ₹10L spend |
| HDFC Infinia | ₹12,500 (waived >₹8L) | 10,000 points | 5 points/₹150 on all spends | 12 visits/year worldwide | 1% fee (max ₹250) | 15,000 points on renewal |
| SBI Elite | ₹4,999 | 20,000 points | 5 points/₹100 | 8 visits/year | Up to ₹100 waiver | 10,000 points on ₹6L spend |
| Axis Magnus | ₹12,500 | 12,000 points | 12 points/₹200 | 8 visits/year | 1% fee (max ₹250) | 50,000 points on ₹25L spend |
| ICICI Emeralde | ₹12,000 | 15,000 points | 4 points/₹100 | 6 visits/year | 1% fee (max ₹200) | 10,000 points on ₹7.5L spend |
According to our analysis, the Scapia Metal card offers the best overall value despite being a relatively new entrant. Its standout feature is the integration with India’s UPI system, allowing rewards on UPI transactions – a first among premium cards in India.
Best Cashback Credit Cards in India – Fee vs. Returns Analysis
| Card Name | Annual Fee | Maximum Cashback Categories | Cashback Rate | Monthly Cashback Cap | Minimum Spend Requirement | Break-Even Monthly Spend |
|---|---|---|---|---|---|---|
| FatakPay Unlimited | ₹499 | Groceries, Bill Payments | 5% on UPI, 3% on bills | ₹2,500 | None | ₹16,667 |
| SBI SimplyCLICK | ₹499 | Online Shopping | 10x points on select merchants | ₹2,000 | None | ₹12,500 |
| HSBC Cashback | ₹999 | Fuel, Grocery | 1.5% on all, 2.5% on categories | No cap | ₹5,000/month | ₹40,000 |
| Standard Chartered DigiSmart | ₹499 | E-commerce, Food Delivery | 5% on Zomato, 3% on Amazon | ₹1,000 | ₹5,000/quarter | ₹10,000 |
| RBL Shoprite | ₹999 | Shopping, Movies | 5% on Dept. Stores, 10% on BookMyShow | ₹1,200 | None | ₹20,000 |
The FatakPay Unlimited card stands out for its generous 5% cashback on UPI transactions, addressing a unique need in the Indian market where UPI payments exceeded 10 billion transactions monthly in 2024 according to NPCI data.
Best Travel Credit Cards in India – Miles and Benefits Analysis
| Card Name | Annual Fee | Welcome Miles | Earn Rate (₹/Mile) | Airline Partners | Hotel Partners | Travel Insurance Coverage | Key Travel Benefits |
|---|---|---|---|---|---|---|---|
| HDFC Diners JetPrivilege | ₹10,000 | 10,000 miles | ₹100 = 6 miles | Vistara, Air India, Star Alliance | Taj, ITC, Marriott | ₹3 Crore | 2x Lounge access/month |
| Axis Vistara Infinite | ₹10,000 | 15,000 miles | ₹125 = 8 miles | Vistara, Singapore Airlines | Taj, Hyatt | ₹2 Crore | Complimentary Business Class upgrade |
| Amex Platinum Travel | ₹60,000 | 100,000 points | ₹100 = 5 points | 20+ airlines | 30+ chains | ₹5 Crore | Unlimited lounge access |
| ICICI Emirates Sapphiro | ₹12,000 | 40,000 Skywards miles | ₹150 = 4 miles | Emirates, flydubai | Jumeirah | ₹2.5 Crore | Buy 1 Get 1 on Emirates |
| Niyo Global | ₹5,000 | N/A | Special forex rates | N/A | N/A | ₹2 Crore | Zero forex markup |
The Niyo Global card differs from traditional travel cards by focusing on zero forex markup rather than miles, making it ideal for international travelers who prefer direct savings over reward programs.
Key Factors to Consider When Choosing Rewards Credit Cards in India
Annual Fee vs. Reward Value – Break-Even Analysis
| Card Type | Average Annual Fee | Average Monthly Reward Value | Required Monthly Spend to Break Even | Recommended Min. Annual Income |
|---|---|---|---|---|
| Super Premium | ₹10,000 – ₹50,000 | ₹2,500 – ₹8,000 | ₹50,000 – ₹1,50,000 | ₹24 Lakhs+ |
| Premium | ₹3,000 – ₹10,000 | ₹1,000 – ₹2,500 | ₹30,000 – ₹50,000 | ₹12 Lakhs+ |
| Lifestyle | ₹1,000 – ₹3,000 | ₹500 – ₹1,000 | ₹15,000 – ₹30,000 | ₹6 Lakhs+ |
| Basic | ₹0 – ₹1,000 | ₹200 – ₹500 | ₹8,000 – ₹15,000 | ₹3 Lakhs+ |
According to RBI data, the average monthly credit card spend per active card in India is approximately ₹25,000, making lifestyle category cards the most suitable for the average Indian consumer.
Credit Score Requirements for Premium Cards in India
| Credit Score Range | Card Approval Likelihood | Cards Available | Income Requirements |
|---|---|---|---|
| 800+ | Very High | All cards including premium | As per card policy |
| 750-800 | High | Most premium cards | 20% higher than card standard |
| 700-750 | Moderate | Mid-tier and some premium | 50% higher than card standard |
| 650-700 | Low | Basic cards only | 100% higher than card standard |
| Below 650 | Very Low | Secured cards only | Deposit required |
CIBIL data shows that the average credit score in urban India is 732, putting mid-tier cards within reach of most urban professionals, while premium cards remain accessible to only the top 20% of credit users.
How to Maximize Your Credit Card Rewards in India
Optimal Card Combinations for Indian Lifestyles
| Spending Profile | Primary Card | Secondary Card | Monthly Potential Savings |
|---|---|---|---|
| Urban Professional | Scapia Metal (dining, entertainment) | FatakPay Unlimited (daily UPI) | ₹3,500 – ₹5,000 |
| Frequent Traveler | Niyo Global (international) | Axis Vistara (domestic) | ₹4,500 – ₹7,000 |
| Family Spender | HDFC Infinia (general high spend) | Amazon Pay ICICI (online shopping) | ₹3,000 – ₹5,500 |
| Business Owner | Amex Platinum (business expenses) | SBI Elite (personal) | ₹8,000 – ₹12,000 |
| Student/Beginner | FatakPay Unlimited (UPI/general) | RBL Shoprite (entertainment) | ₹800 – ₹1,500 |
A strategic combination of 2-3 complementary cards can help Indian consumers maximize rewards across different spending categories, potentially recovering 3-5% of their total annual expenses through rewards.
The Indian credit card market offers diverse options for every spending profile and income level. Based on comprehensive data analysis, cards like Scapia Metal and FatakPay Unlimited are disrupting the traditional banking model with innovative reward structures specifically designed for Indian consumption patterns. When selecting a card, consider your primary spending categories, comfort with annual fees, and redemption preferences to maximize value.
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