One of my subscribers messaged me yesterday. He asked me, ‘Please tell me the best credit cards for beginners in 2024.’ And then I thought, ‘This same question might be on the minds of many people.’
So I am here to guide you.
In this blog, I will discuss credit cards that are best for beginners and explore 4 Best Credit Cards for beginners in total, which are considered the best in terms of features.
Whether you are looking to get your first credit card or if you already have one, these four credit cards are worth considering. I will go through each credit card one by one and discuss their features. In the end, I will conclude which credit card is the best among the four.
So let’s get started.
Best Credit Cards 2024
1. BPCL SBI Card Octane
Bharat Petroleum Corporation Ltd and State Bank of India collaborate to present an incredible credit card, providing exclusive benefits on fuel and groceries.
Every household requires petrol for their vehicles and groceries for the kitchen. This credit card not only saves your money but also allows you to fully utilize its features.
But you can avail of these amazing cashback features only by using Bharat Petroleum Pumps for filling petrol.
Welcome Benefits
The joining fee for this credit card is Rs. 1499/-, but with Welcome Benefits, this card is FREE. How?
Let me tell you. Upon joining and activating the card, 6000 Bonus reward points will be credited to your account. 4 Reward points are equal to Rs. 1. Therefore, 6000 reward points are equal to Rs. 1500.
And I will also tell you how you can waive the annual fees of this card, which is Rs. 1499/-
Cashback on Fuel
According to SBI, this card gives you 7.25% cashback on your fuel expenses, but I will not consider this cashback as 7.25%. I will say 6.25% + 1% because 1% is the fuel surcharge waiver, which is offered by almost every bank.
So, I will consider 6.25% cashback, and trust me, 6.25% is far better than any of the credit cards that are available in the market.
When you spend Rs. 100 on petrol, the BPCL SBI Octane card returns your Rs. 6.25, and this feature makes this card one of the best credit cards.
Cashback on Bharat Gas App
You can also avail of a 6.25% cashback on the Bharat Gas Mobile App or Web. You can order gas cylinders, lubricants, etc., from this app. Here, you can get Rs. 6.25 (25 reward points) on spending Rs. 100.
A maximum of Rs. 125 can be earned from Bharat Gas (app or web) per billing cycle.
Cashback on Groceries and Movies
Another significant advantage of this credit card is a cashback of 2.5% on every Rs. 100 spent at dining, departmental stores, movies, and groceries. You can earn a maximum of 7500 reward points per month, i.e., Rs. 1875.
Airport Lounge Benefits
- 4 complimentary visits per year for domestic lounges.
- Maximum 1 visit per quarter.
Fees Waiver
If you spend Rs. 2 lakh in a year, the next year’s annual fees are waived.
Limitations
As per the Terms & Conditions of this credit card, a maximum of 2500 reward points per billing cycle, i.e., Rs. 625 per billing cycle, can be saved.
The maximum cashback of Rs. 625 can be availed only if your vehicle’s monthly fuel consumption is Rs. 10,000, meaning when you spend Rs. 10,000 on fuel, you will earn Rs. 625.
So, if your monthly expense on fuel is more than Rs. 10,000, the only solution is to avail of 2 credit cards.
You can avail it in your wife’s name or children or parents. But believe me, no fuel credit card in the market can give you a 6.25% cashback. Also, you can get a 1% surcharge waiver for any transaction up to Rs. 4000.
2. ICICI Amazon Pay Credit Card
This credit card offers a flat 5% cashback (to Prime Members) on any transaction made through the Amazon App. There is no maximum cap on cashback.
There is no joining and annual fee for this card. However, this card provides benefits exclusively to Prime Members of Amazon, which costs Rs. 1499/- annually.
Amazon Prime membership also offers additional benefits:
- Early access to seasonal and occasional sales.
- Free access to Amazon Prime Video, Music, and Gaming.
- Free fast and one-day delivery options on the Amazon App.
If you do not wish to invest in Amazon Prime membership, you can still enjoy the benefits of this credit card. Non-Prime Members can avail of unlimited 3% cashback with the ICICI Amazon Pay credit card.
In summary, having a Prime membership allows you to enjoy a 5% cashback, while non-Prime members can still benefit from a 3% cashback with no maximum cap.
Cashback on Amazon Pay
If you make transactions using Amazon Pay, you can enjoy a 2% cashback. The Amazon Pay service functions as a payment service, similar to BHIM UPI or Paytm.
You can use it to pay your postpaid and utility bills, recharge your mobile, and even Scan & Pay at various merchants. Additionally, you have the option to send gift cards to your relatives and friends.
Limitations
- No cashback is applicable on No-cost EMI or EMI options.
- There is no cashback provided on the purchase of fuel, gold, silver, or any other precious metal.
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3. Flipkart Axis Bank Credit Card
The joining fee for this credit card is Rs. 499, and the cashback offer on this card is the same as on the ICICI Amazon Pay credit card. If you make any purchases using this credit card on Flipkart, you will earn a 5% cashback.
You can also earn a 4% cashback on transactions on other platforms such as Cleartrip, Cure.fit, PVR, Swiggy, Tata Play, and Uber.
Please go through the Flipkart Axis Bank Credit Card Terms and Conditions before making any purchases from these partners, as their preferred partners are subject to change from time to time.
There are some transactions on which cashback is not available:
- Fuel spends
- Purchase of gift cards on Flipkart & Myntra
- EMI transactions
- Purchases converted to EMI post facto
- Wallet loading transactions
- Purchase of jewelry items
- Payment of loan outstanding balances
- Payment of card fees and other card charges
- Rental payments
- Insurance services
- Utility bill payment (like water, postpaid, electricity etc.)
- Educational services
Welcome Benefits
Upon joining and activation, you will receive a Rs. 600 voucher, i.e., Rs. 500 for use on Flipkart and Rs. 100 for use on Swiggy.
Annual Fees Waiver
The annual fee for this card is Rs. 500, which can be waived if your annual spending is more than Rs. 3.5 lakh. Please note that rent transactions and wallet transactions will not be eligible for spending counted in availing of the annual fee waiver.
Airport Lounge Benefits
You can get 4 complimentary lounge visits per year at selected airports.
Limitations
The significant difference between the ICICI Amazon Pay credit card and the Flipkart Axis Bank credit card is that you will not earn any cashback if you book flights, hotels, and buy medicines from Flipkart using the Flipkart Axis Bank credit card.
Here’s the corrected sentence:
But still, other features like unlimited 5% cashback on purchases from Flipkart using this card make this card one of the best credit cards in the market.
