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What is a cashback credit card and which one is the best – SBI, ICICI, Axis, HDFC, HSBC

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Cashback Credit Card

A cashback credit card is a type of credit card that offers a cash reward or rebate to the cardholder based on their spending. When you make purchases using a cashback credit card, you earn a certain percentage of each transaction.

Which one is the best?

Let’s compare Axis ACE and SBI cashback.

  • In Axis Bank, you will get 4 lounges absolutely free on domestic access, and there is no domestic access on the SBI cashback credit card.
  • Earning: Using Axis Bank Cashback credit card for Bill payment, DTH, and Mobile recharge, through Google Pay, you will get 5% cashback. SBI cashback on online spending without any merchant restrictions is 2% and 1% cashback on offline spending, maximum Rs. 5000 cashback per month.
  • If you compare the annual fees of the cards of both banks,
  • WAxis ACE = Rs. 499 + GST
  • SBI cashback = Rs. 999 + GST
  • Both bank’s fee reversal criteria are, if you spend Rs. 2,00,000 in a year, then you will not have to pay any charges.

Features and benefits of the Amazon Pay ICICI Credit Card:

  • There is no annual fee or joining fee.
  • There is no cap on the reward points earned on the card.
  • There is no expiration date for the reward points earned on the card.
  • Reward points can be redeemed at more than 100 Amazon Pay partner merchants and Amazon.in.
  • Avail of non-cost EMI for three or six months on Amazon. in.
  • Every reward point (1 reward point = 1 rupee) is automatically credited as cash in Amazon Pay.

HSBC Cashback Credit Card:

  • The cashback credit card by HSBC Bank is a one-of-a-kind card that offers you a wide range of benefits.
  • The card comes with Zero joining fees and unlimited cashback opportunities on all transactions.
  • This credit card is specially curated for those who wish to make the most of their credit card purchases and transactions.

HDFC Millennia Credit Card:

The best cashback credit card with benefits across multiple categories

  • 5% cashback on Amazon, Cult.fit, BookMyShow, Sony LIV, Flipkart, Myntra, Swiggy, Tata CLiQ, Zomato, and Uber.
  • 1% cash back on offline spends and wallet reloads
  • Cashback will be earned in the form of cash points.
  • 8 free domestic lounge visits per year

You only need to make a qualifying transaction to receive cash back from a credit card. Every time you use your card to make an eligible purchase, you’ll automatically receive a percentage back in accordance with your card’s terms.

Author – Nidhi Patel

Notes – Investments are subject to market risk, conduct proper research before investing