Credit cards are such tool that not only offers convenience but also rewards. One such reward is cashback, which is offered by many credit cards in India. Cashback credit cards are the best way to save money on your daily expenses. However, with so many options available, it can take time to choose the best one. In this article, we will guide you through the process of selecting the best cashback credit card and present you with the top five options available in India.

Choosing the Best Cashback Credit Card

Before diving into the best cashback credit cards, let’s first look at how to choose the best one for you. Here are some factors to consider:

• Spend patterns: Analyze your spend patterns and choose a card that offers cashback on the categories you spend the most on.
• Annual fee: Look for a card with low or no yearly/renewal fees to maximize your savings.
• Cashback percentage: Look for a card that offers a high rate of cashback to get the most out of your spending.
• Redemption options: Look for a such cards that offer various redemption options to suit your needs.
• Welcome bonus: Look for a card with a good welcome bonus to get a head start on your rewards.

5 Best Cashback Credit Cards in India

1. Airtel Axis Bank Credit Card: This card offers 25% cashback on all Airtel prepaid recharges, postpaid, broadband, and DTH bills. Additionally, it offers 10% cashback on all other utility bill payments and 10% cashback on Swiggy, Zomato and BigBasket and 1% cashback on other spends.
2. AU Bank Altura Credit Card: This card offers 5% cashback on retail spends, 2% cashback on utility bills, groceries, and departmental stores with no upper limit on cashback. Additionally, it offers 1% cashback on all other spends.
3. Swiggy HDFC Bank Credit Card: This card offers 10% cashback on all Swiggy spends, with no upper limit on cashback. Additionally, it offers 5% cashback on online spending and 1% cashback on other categories.
4. Myntra Kotak Credit Card: This card offers 7.5% cashback on all Myntra spends, with no upper limit on cashback. Additionally, it offers 5% cashback on partner brands and 1.25% cashback on all other spends.
5. Axis Bank ACE Credit Card: This card offers a 20% discount on all dining spends and 5% cashback on paying bills on mobile recharge via GooglePay. Additionally, it offers 4% cashback on Swiggy, Ola, and Zomato.

Benefits of Cashback Credit Cards

Cashback credit cards offer a range of benefits, such as:

• Savings: Cashback credit cards help you save money on your daily expenses, which can add up to significant savings over time.
• Variety of rewards: Cashback credit cards offer multiple rewards, such as cashback, discounts, and reward points.
• Convenience: Cashback credit cards offer convenience by allowing you to pay for your expenses without carrying cash.
• Additional perks: Cashback credit cards often come with additional perks like airport lounge access, free movie tickets, and more.

Pros and Cons of Cashback Credit Cards

Like all financial products, cashback credit cards have their pros and cons.

Pros:

• The card offers savings on daily expenses.
• Cashback cards also give a variety of rewards.
• It also provides convenience.

Cons:

• Cashback credit cards may have high interest rates.
• They may also come with high annual fees.
• Cashback cards may encourage overspending.

Also Read: IS SBI ELITE CREDIT CARD YOUR KEY TO EXCLUSIVE LIFESTYLE UPGRADES?

Conclusion

Cashback credit cards are the best tool to save money on your daily expenses. By analyzing your spending patterns and choosing a card with a high cashback percentage and low annual fees, you can maximize your savings. Remember to use your cashback credit card responsibly and pay your dues on time to avoid high interest rates and fees.