Joining & Annual Fees Joining Fee - ₹ 250 + GST Renewal Fee - ₹ 250 + GST |
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Joining & Annual Fees Annual Fee - Rs.4999 (one time) Renewal Fee - Rs.4999 (per annum) |
Corresponding T&C: *Max fuel surcharge waiver of Rs. 100/month for transactions between Rs. 500 and Rs. 3000 (exclusive of all applicable taxes) |
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Joining & Annual Fees Joining fee: No Joining Fee Monthly Usage Fee: INR 49 +GST |
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Joining & Annual Fees Joining Fee: Nil Annual Fee(2 nd year onwards): INR 499, reversed with retail spend of INR 120K per year |
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Joining & Annual Fees Joining Fee(1 st year): INR 350 Annual Fee(2 nd year onwards): INR 350, Fee waived on INR 50K in previous year |
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Joining & Annual Fees Annual Fee - Rs. 1,499 + taxes |
Corresponding T&C: *Max fuel surcharge waiver of Rs. 100/month for transactions between Rs. 500 and Rs. 3000 (exclusive of all applicable taxes) |
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Joining & Annual Fees Annual Fee - Rs.500 (one time) Renewal Fee - Rs.300 (per annum) |
Corresponding T&C: *Max fuel surcharge waiver of Rs. 100/month for transactions between Rs. 500 and Rs. 3000 (exclusive of all applicable taxes) |
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Joining & Annual Fees Joining Fee - ₹ 999+GST Renewal Fee - ₹ 999+GST |
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Joining & Annual Fees Joining Fee: Rs.1499 + Taxes (one time) Renewal Fee: Rs.1499 |
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Joining & Annual Fees Joining Fee: Rs.1499 (one time) Annual Fee: Rs.1499 (Subsequent year annual fee will be waived on spending Rs. 2 lakhs in a year) Add-on card fee: NIL |
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Joining & Annual Fees Joining Fee: Rs.1499 (one time) Annual Fee: Rs.1499 (Subsequent year annual fee will be waived on spending Rs. 2 lakhs in a year) Add-on card fee: NIL |
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Joining & Annual Fees Annual Fee - Rs.499 PA + GST Renewal Fee - Rs.499 PA + GST |
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Joining & Annual Fees Joining Fee : Nil Annual Fee : Rs.1000 + GST may be levied on the Card at the end of the membership year. (A card member shall be exempted from the said annual card fees of the year in which he/she spends INR 30,000 or more on his/her Card) |
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Joining & Annual Fees Joining Fee : Nil Annual Fee : Rs.1000 + GST may be levied on the Card at the end of the membership year. (A card member shall be exempted from the said annual card fees of the year in which he/she spends INR 30,000 or more on his/her Card) |
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Joining & Annual Fees Joining Fee : Nil Annual Fee : Rs.3000 + GST (or) as communicated to you at the time of Card application. The Citi PremierMiles credit card is complimentary for Citigold customers maintaining the required Net Relationship Value (NRV) with Citibank. |
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Joining & Annual Fees Joining Fee : Nil Annual Fee : Rs.500 + GST shall be levied on the Card in the first month of billing. |
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Joining & Annual Fees Joining Fee: Rs.1499 (one time) Annual Fee: Rs.1499 (Subsequent year annual fee will be waived on spending Rs. 3 lakhs or more in a year) Add-on card fee: NIL |
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Joining & Annual Fees Joining Fee: Rs.4999 (one time) Annual Fee: Rs.4999 (Subsequent year annual fee will be waived on spending Rs. 3 lakhs or more in a year) Add-on card fee: NIL |
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Joining & Annual Fees Joining Fee: Nil** ** Joining fee of INR 500 waived off till 31st March 21 Renewal Fee: Rs.300 |
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Joining & Annual Fees Annual Fee - Rs. 4,999 + taxes |
Corresponding T&C: *Max fuel surcharge waiver of Rs. 100/month for transactions between Rs. 500 and Rs. 3000 (exclusive of all applicable taxes) |
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Joining & Annual Fees Annual Fee - Rs.499 (one time) Renewal Fee - Rs.499 (per annum) |
Corresponding T&C: *Max fuel surcharge waiver of Rs. 100/month for transactions between Rs. 500 and Rs. 3000 (exclusive of all applicable taxes) |
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Joining & Annual Fees Annual Fee - Rs.499 (one time) Renewal Fee - Rs.499 (one annum) |
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The Credit card is the most divisive financial tool available. If you talk about the history of Credit cards, they started out as Simple and Standard. Each Card issuer had one card with same set of features. Today credit cards come in multiple ranges with varying features, interest rates, annual fees etc. It is really important an individual knows which Card will suit his/her lifestyle and financial situation.
A brief description of various kinds of credit cards is as follows:
Standard Credit Cards: These are the most common kind of credit cards. They do not require a security deposit to prove that the loan can be repaid. The way the Annual Percentage Rate (APR) is offered or calculated on a standard credit card may vary. For instance:
Reward Cards: A rewards card can be beneficial for the right kind of user. You can earn free airline tickets, hotel stays, cash back, gift cards and even novelty vacations, etc.
Before choosing any reward card, however, one needs to consider his Credit card spending tendencies. Ask yourself are you someone who regularly pays the full monthly balance, or do you carry a balance from month-to-month? The interest rate with a rewards card is quite higher when compared to typical Credit cards. If you occasionally carry a balance, it is advised to not go for a rewards card. High interest rates coupled with late fee penalties will mean you will end up losing heavy money while chasing petty rewards.
Different types of reward cards
Cash Back: This type of credit card allows you to earn cash rewards for making purchases. The more the card is used, the more cash rewards you receive. Most cash back cards earn users around 1% of total purchases. I.e. you typically earn cash back worth Rs 100 on purchases of Rs 10,000. Some cards offer a higher cash back percentage with increased usage; others offer a higher cash back percentage at select merchants or for particular types of purchases.
Examples: Citibank Cash Back Credit Card, Shopping Rewards Card.
General Reward Point Credit Cards: In Reward points Cards, cardholders can accumulate points towards a reward structure, which is based on usage of card over the period. E.g. Cardholder is awarded 1 reward point for each rupee he/she spends. There are certain Bonus spend rewards as well for certain annual spending such as:
Annual Spends | Bonus Reward Point |
Rs. 2 Lakh | 10,000 |
Rs. 3 Lakh | 10,000 |
Rs. 4 Lakh | 10,000 |
Rs. 5 Lakh | 20,000 |
SBI signature contactless card bonus reward points
Hotel/Travel Point Credit cards: This is a genre of credit cards specific to hotels and travel. Some cards are co-branded with hotels. These credit cards allow you to earn points for all purchases, in addition to bonus points for dollars spent on stays at the respective hotel chain. You can redeem your points for free nights and upgrade at the hotel chain your card is co-branded with. Then there are broader hotel and travel cards with which points can be redeemed for travel, theme park admission, stays at major hotel chains and more.
Gas Cards: Gas Cards with points or rebate have a high reward structure for Fuel purchases/Car maintenance. If you drive a lot, consider a gas card for more points on gasoline purchases. Gas cards come in two types: general and brand-specific. A general gas rebate card, for example, may give you 1% cash back for general purchases but rewards you with 5% back for buying gas or having auto maintenance done at any company such as Indian Oil Citibank Platinum Credit Card saves over 5% on your fuel bills.
Airline Miles/ Frequent flier credit cards: There is a subset of reward cards specifically for air travel. This type of card allows consumers to earn airline mile credits whenever they make purchases. Some cards are co-branded with a specific airline, while some are generic and can be redeemed for tickets with a variety of airlines. Points can be redeemed for airline travel, much like frequent flier miles.
Airline Specific Credit Cards: JetPrivilege HDFC Bank World Credit Card
Generic Airline Miles Cards: Complimentary Citibank PremierMiles Credit Card
Secured Credit Cards: Secured credit cards require a security deposit for approval. These cards are useful in reestablishing the credit score. The cards have an annual fee and higher annual interest rates. Most often, these cards are used to reestablish credit. A person can use the card to make small purchases that they can easily repay.
Specialty Credit Cards: These types of cards are for consumers with unique needs for their credit usage, such as business professionals and students. These credit card programs are designed specifically to meet the needs of those individuals.