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Almost every other individual owns a credit card in India which enables them to make seamless and cashless payments. The credit cards come with a pre-defined transaction limit, and the amount needs to be paid off timely, at every billing cycle. So why does an individual apply for a credit card?
There are certain credit card benefits that every cardholder gets on every transaction made via a credit card. These benefits can be in the form of reward points, cashback, vouchers, discounts, etc. But is that all? No, there are some other credit card benefits as well that cardholders may find significantly important.
Benefits of Credit Cards in India
Various top banks in India offer a number of credit cards in different categories, to cater to the diverse needs and budget goals of the customers. Each credit card has its own set of exclusive perks and benefits that cardholders enjoy, however, there are universal credit card benefits that every bank offers to each one of its credit cardholders.
Some of these credit card benefits are:
- Safe Transactions – Safety and security of the card and the confidential information associated with it is one of the primary credit card benefits. The bank ensures double authentication in every transaction using a fully-encrypted technology to eliminate all possibilities of any fraudulent activity.
- Cash Free – Cardholders can travel anywhere without stressing over having to carry cash, just swipe the credit card, and the transaction is seamlessly completed.
- EMI Facility – Banks offer this facility to card holders to convert their lump-sum purchase transactions into Equated Monthly Instalments. This allows cardholders to not disturb their monthly budget or exhaust their savings at the time of the credit card bill payments.
- Flexible Repayment Tenor – Flexibility in selecting the repayment tenor is another credit card benefit. After converting their purchases into EMIs, the cardholders can select a tenor between 3-36 months as per their financial capabilities.
- Emergency Fund Assistance – Banks understand the requirement of funds during emergencies and therefore, offer financial assistance as loans to cardholders. The loan disbursal is swift as minimal documentation is required and instant approval is given so that the customer is not financially stressed during a crisis.
- Cash Withdrawal Facility – A lot of cardholders are generally not aware of this credit card benefit. Cardholders can withdraw cash by using their credit card at an ATM. So on the off chance that a cashless transaction is not possible, credit cardholders can instantly withdraw cash via an ATM.
Credit Card Benefits Offered by Top Banks in India
Apart from these generic yet significant credit card benefits, each bank offers some exclusive perks and benefits to its cardholders as per the card’s features and benefits. Check out the table below to find out more about credit card benefits offered by top banks in India –
| Bank | Credit Card Benefits |
| RBL Bank | ● 20,000 reward points if the credit card annual spends exceed ₹5 Lakhs.
● 4-8 complimentary domestic airport lounge access in a year. ● Gift voucher on spending ₹2,000 within 30 days of card issuance. ● Reward points on every ₹100 spent on dining and shopping with partner brands. |
| Axis Bank | ● Complimentary premium economy ticket as a welcome gift to Vistara Signature credit cardholders.
● Flipkart Axis Bank credit cardholders enjoy 5% cash back on every purchase made via the Flipkart app. ● 4-8 complimentary domestic airport lounge access in a year. ● Complimentary EDGE points to cardholders as an annual benefit upon renewal of their credit card. |
| State Bank of India | ● Reward points on booking railway tickets via SBI IRCTC credit card.
● 6,000 bonus points worth ₹1,500 as a welcome gift to SBI Max SELECT credit cardholders, SBI Central SELECT credit cardholders, SBI BPCL Octane credit cardholders, etc. ● SBI Ola Money credit cardholders can get credit card benefits at zero joining and annual fees. ● 7% cashback on every Ola ride for SBI Ola Money credit cardholders. ● Reward points on every ₹100 spent on groceries, shopping, dining, etc. |
| ICICI Bank | ● Complimentary golf learning sessions to ICICI Emerald credit cardholders.
● Complimentary Lemon Tree hotel stay voucher worth ₹2,000 for MakeMyTrip Platinum credit cardholders. ● ICICI Diamond credit cardholders get MacBook Air as a welcome gift. ● No over-limit penalty is charged to ICICI Emerald credit cardholders. |
| CitiBank | ● Reward points on every ₹125 spent
● 1% fuel surcharge waiver to credit cardholders at every outlet of Indian Oil Corporation. ● Citi Simplicity credit cardholders can get credit card benefits at zero joining and annual fees. ● 2% cashback on transactions made via Citibank Double Cash credit card. |
Apart from these credit card benefits, cardholders can also redeem the reward points earned by them on every transaction in the form of cashback, vouchers, discounts, coupons, etc. Cardholders can log in to the net banking account of their respective credit cards and check the redeem rewards section to get more details about the latest and upcoming offers.
