Independence Day | Five credit cards that make online shopping more rewarding While shopping during Independence Day and the festive season, spend smartly and responsibly. These cards have also been arranged according to the least annual fees.
August 07, 2022 / 09:05 AM IST
Independence Day offers from e-commerce websites are here. Amazon India’s Great Freedom Festival and Flipkart’s the Big Saving Days start from August 6 and will last till August 10. This festive season, Reliance Digital has announced the Digital India Sale starting from August 6. Most of the offers are specific to card providers such as ICICI Bank, Axis Bank, HDFC Bank, Citibank, SBI Card and other banks. However, there are some credit cards that are designed specially to make online shopping more rewarding. Here is a curated list from Paisabazaar of the best online shopping credit cards that provide value-back in the form of discounts, cashbacks, or additional rewards on online purchases.
Image Source: ICICI Bank | Amazon Pay ICICI Credit Card offers a 5 percent cashback on Amazon for Prime members, 3 percent for non-Prime members, 2 percent for 100-plus Amazon partner merchants, and a 1 percent cashback on other transactions. There is no expiry date on the rewards earned. This is a lifetime free card.
Image Source: SBI Card | SBI SimplyCLICK credit card offers Amazon gift cards worth Rs 500 on joining, 10X rewards with partners, including Amazon, Cleartrip, BookMyShow, Lenskart, etc., and 5X rewards on all online spends. An e-voucher worth Rs 2,000 is issued on annual online spending for more than Rs 1 lakh. The annual fee is Rs 499 for this credit card. The annual fee is waived off on yearly spending of more than Rs 1 lakh in the previous year.
Image Source: Axis Bank | Flipkart Axis Bank Credit Card offers a 5 percent cashback while shopping on Flipkart and Myntra, 4 percent on other preferred merchants and 1.5 percent on all other categories. It also offers welcome benefits worth Rs 1,000 upon card activation. The annual fee is Rs 500 for this card.
Image Source: HSBC Bank | HSBC Cashback Credit Card offers a 1.5 percent cashback on all online spending and 1 percent cashback on other spends. There is a 5 percent discount on spending more than Rs 1,000 on Amazon.in (maximum discount is Rs 250 per card per month). The bank issues vouchers of Amazon worth Rs 500, of Myntra worth Rs 1,500 and of Ajio worth Rs 3,000 as welcome benefits. The annual fee is Rs 750 on this credit card.
Image Source: HDFC Bank | HDFC Millenia Credit Card offers a 5 percent cashback while shopping on sites like Amazon, Flipkart, Myntra, Tata CLiQ, a 1 percent cashback on offline spends and wallet transactions. It offers gift vouchers worth Rs 1,000 on spending Rs 1 lakh and above in each calendar quarter. The annual fee is Rs 1,000 on this credit card. The user gets a credit of 1,000 cash points as a welcome benefit on payment of the membership fee.
Ensure that you have a disciplined approach to your credit behaviour. Since credit cards offer a significant interest-free period, there may be a tendency to overspend while shopping around Independence Day and festive offers. If you spend more than what you can repay and cannot pay your credit card bill on time, you will incur hefty interest charges, ranging from 28- 49 percent per annum, along with late payment fees.
To short-list the top five online shopping credit cards, Paisabazaar identified all the banks offering the shopping and cashback schemes on credit cards. It compared the cards and checked the value proposition they hold for customers, depending on the discounts, rewards and cashback offers across categories. Then, cards offering the best offers were chosen. All credit card information is sourced and updated as of July 29, 2022. These credit cards have been arranged according to the least annual fees.