Best UPI Credit Cards in India: Top Picks For Seamless Transaction-2024
Best UPI Credit Cards in India: In the fast-paced world of digital transactions, how can you select the finest credit card that not only matches your spending requirements but also connects easily with UPI (Unified Payments Interface)? With the development of digital wallets and UPI payments, selecting the best UPI-compatible credit card has become critical. Which cards provide the best rewards? What are the advantages of using a UPI credit card? Let's look at the main alternatives accessible in India to assist you in making an informed decision.?
10 Best UPI Credit Cards in India
2. ICICI Bank Coral Credit Card
6. Kotak Mahindra Bank PVR Gold Credit Card
7. Citi Cashback Credit Card
Exploring The Best 10 UPI Credit Cards in India Details
1. HDFC Bank Millennia Credit Card
The HDFC Bank Millennia Credit Card is tailored for the modern user, offering numerous benefits across online and offline transactions. With 5% cashback on popular online platforms like Amazon and Flipkart and 2.5% cashback on all offline and wallet reload transactions, this card stands out. It also provides 1% cashback on other transactions, making it a versatile option. The annual fee can be waived if you spend ?1 lakh in a year, adding to its appeal. Ideal for tech-savvy individuals, this card ensures you get rewarded for your everyday spending.
Joining Fee: ?1,000 + GST
Renewal Fee: ?1,000 + GST
Best Suited For: Online shopping, general spending
Welcome Benefits: 1,000 reward points on spending ?30,000 within the first 90 days
2. ICICI Bank Coral Credit Card
The ICICI Bank Coral Credit Card is known for its wide range of benefits, from dining offers to movie tickets and now seamless UPI integration. You earn 2 PAYBACK points for every ?100 spent on retail purchases except fuel. Additionally, it offers exclusive dining offers through the Culinary Treats program and one complimentary movie ticket every month through BookMyShow. The contactless payment feature further enhances its convenience, making it a well-rounded choice for everyday use.
Joining Fee: ?500 + GST
Renewal Fee: ?500 + GST
Best Suited For: Dining, movies, retail purchases
Welcome Benefits: 2,000 PAYBACK points on first spend within 30 days
3. SBI Card PRIME
The SBI Card PRIME is designed for premium users looking for extensive benefits across various categories. It offers a welcome e-gift voucher worth ?3,000 from top brands and 10 reward points per ?100 spent on dining, groceries, and departmental stores. The card also provides complimentary Priority Pass membership for airport lounge access, which is a boon for frequent travellers. Its annual fee can be waived on spending ?3 lakh in a year, making it a cost-effective option for high spenders.
Joining Fee: ?2,999 + GST
Renewal Fee: ?2,999 + GST
Best Suited For: Frequent travelers, high spenders
Welcome Benefits: E-gift voucher worth ?3,000
4. Axis Bank ACE Credit Card
The Axis Bank ACE Credit Card, powered by Google Pay, stands out with its high cashback on various categories. It offers 5% cashback on bill payments and recharges via Google Pay, 4% cashback on Swiggy, Zomato, and Ola, and 2% cashback on all other transactions. There is no cap on cashback earnings, making it an excellent choice for heavy users of these services. This card is perfect for those who use Google Pay frequently and want to maximise their cashback benefits.
Joining Fee: ?499 + GST
Renewal Fee: ?499 + GST
Best Suited For: Bill payments, recharges, food delivery
Welcome Benefits: NA
5. American Express Membership Rewards Credit Card
Known for its premium services, the American Express Membership Rewards Credit Card offers an array of benefits and rewards. Cardholders earn Membership Rewards points on every spend, with a bonus of 1,000 points on making 4 transactions of ?1,000 each in a month. The card offers various reward redemption options, including travel, dining, and shopping. Additionally, it provides complimentary access to 8 airport lounges per year, making it a luxurious choice for frequent travelers.
Joining Fee: ?1,000 + GST
Renewal Fee: ?4,500 + GST
Best Suited For: Premium services, reward points
Welcome Benefits: NA
6. Kotak Mahindra Bank PVR Gold Credit Card
The Kotak PVR Gold Credit Card is a treat for movie enthusiasts, offering exclusive benefits on movie tickets. Cardholders receive 2 free PVR movie tickets on spending ?10,000 in a billing cycle, making it perfect for frequent movie-goers. Additionally, it provides 15% savings on dining at select restaurants, a fuel surcharge waiver at all petrol pumps across India, and reward points on all other spends. It’s an excellent option for those who love entertainment and dining out.
Joining Fee: ?999 + GST
Renewal Fee: ?999 + GST
Best Suited For: Movies, dining, fuel purchases
Welcome Benefits: NA
7. Citi Cashback Credit Card
The Citi Cashback Credit Card is designed to offer maximum cashback on everyday expenses. Cardholders enjoy 5% cashback on movie tickets, telephone bill payments, and utility bill payments, along with 0.5% cashback on other purchases. The cashback can be easily redeemed directly to your statement, simplifying the process. This card also features a contactless payment option, enhancing convenience for daily transactions.
Joining Fee: ?500 + GST
Renewal Fee: ?500 + GST
Best Suited For: Everyday expenses, utility bills
Welcome Benefits: NA
8. YES Bank Prosperity Rewards Plus Credit Card
The YES Bank Prosperity Rewards Plus Credit Card offers a robust rewards program along with UPI integration. It provides 6 reward points per ?200 spent on grocery and supermarket purchases and 2 reward points per ?200 spent on other categories. Additionally, it offers a fuel surcharge waiver and instant EMI conversion at competitive rates. This card is perfect for individuals who prioritise rewards on grocery shopping and want the convenience of UPI transactions.
Joining Fee: ?499 + GST
Renewal Fee: ?499 + GST
Best Suited For: Grocery shopping, general spending
Welcome Benefits: NA
9. IndusInd Bank Platinum Aura Edge Credit Card
The IndusInd Bank Platinum Aura Edge Credit Card provides a mix of lifestyle benefits and rewards. It features a rewards program tailored to different spending categories, offering more points on lifestyle purchases. Cardholders enjoy complimentary access to select airport lounges, a fuel surcharge waiver across all petrol stations, and easy reward redemption options. This card is suitable for those looking for diverse rewards and premium services, with the ease of UPI transactions.
Joining Fee: ?500 + GST
Renewal Fee: ?500 + GST
Best Suited For: Lifestyle benefits, premium services
Welcome Benefits: NA
10. Standard Chartered Super Value Titanium Credit Card
The Standard Chartered Super Value Titanium Credit Card is known for its value-driven benefits across various spending categories. Cardholders receive 5% cashback on fuel purchases, telephone and utility bill payments, and 1 reward point per ?150 spent on other categories. The annual fee can be waived on spending ?60,000 in a year. Additionally, it offers complimentary access to airport lounges, making it a comprehensive choice for value seekers.
Joining Fee: ?750 + GST
Renewal Fee: ?750 + GST
Best Suited For: Utility bills, fuel purchases
Welcome Benefits: NA
UPI Credit Cards Features and Benefits
1. Seamless Integration with UPI Platforms: UPI credit cards can be linked to UPI apps, allowing users to make payments directly from their credit card via popular platforms like Google Pay, PhonePe, and Paytm. This integration ensures a smooth and hassle-free transaction process, enhancing user convenience.
2. Enhanced Security: UPI transactions are protected by multi-layered security protocols, including two-factor authentication and dynamic virtual payment addresses (VPAs). This adds an extra layer of security to credit card transactions, reducing the risk of fraud.
3. Instant Payments and Transfers: UPI credit cards facilitate real-time payments and transfers. Users can make immediate payments to merchants or individuals without waiting for settlement times, making financial management more efficient.
4. Cashback and Reward Points: Many UPI credit cards offer attractive cashback and reward points on UPI transactions. These rewards can be accumulated and redeemed for various benefits such as discounts, vouchers, or direct statement credits, providing significant value to users.
5. Wide Acceptance: UPI is widely accepted across millions of merchants in India, both online and offline. This extensive acceptance network ensures that users can leverage their credit card benefits in a wide range of scenarios, from shopping and dining to bill payments and travel bookings.
UPI Credit Cards Rewards and Cashback
1. HDFC Bank Millennia Credit Card
Rewards: Earn 5% cashback on popular online platforms like Amazon, Flipkart, and more.
Cashback: 2.5% cashback on all offline and wallet reload transactions and 1% cashback on other transactions.
2. ICICI Bank Coral Credit Card
Rewards: Earn 2 PAYBACK points for every ?100 spent on retail purchases (except fuel).
Cashback: Exclusive dining offers and one complimentary movie ticket every month through BookMyShow.
3. SBI Card PRIME
Rewards: Earn 10 Reward Points per ?100 spent on dining, groceries, and departmental stores.
Cashback: Welcome e-gift voucher worth ?3,000 from top brands.
4. Axis Bank ACE Credit Card
Rewards: Earn 5% cashback on bill payments and recharges via Google Pay.
Cashback: 4% cashback on Swiggy, Zomato, and Ola, and 2% cashback on all other transactions.
5. American Express Membership Rewards Credit Card
Rewards: Earn Membership Rewards points on every spend, with a bonus of 1,000 points on making 4 transactions of ?1,000 each in a month.
Cashback: Various reward redemption options, including travel, dining, and shopping.
6. Kotak Mahindra Bank PVR Gold Credit Card
Rewards: Earn 2 free PVR movie tickets on spending ?10,000 in a billing cycle.
Cashback: 15% savings on dining at select restaurants.
7. Citi Cashback Credit Card
Rewards: Earn 5% cashback on movie tickets, telephone bill payments, and utility bill payments.
Cashback: 0.5% cashback on all other purchases.
8. YES Bank Prosperity Rewards Plus Credit Card
Rewards: Earn 6 Reward Points per ?200 spent on grocery and supermarket purchases.
Cashback: 2 Reward Points per ?200 spent on other categories.
9. IndusInd Bank Platinum Aura Edge Credit Card
Rewards: Earn more points on lifestyle purchases with a tailored rewards program.
Cashback: Easy reward redemption options across various categories.
10. Standard Chartered Super Value Titanium Credit Card
Rewards: Earn 5% cashback on fuel purchases, telephone, and utility bill payments.
Cashback: 1 reward point per ?150 spent on other categories.
How to Earn and Redeem UPI Credit Card Reward Points
Earning Reward Points:
1. Make eligible purchases using your UPI credit card.
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2. Earn points based on the spending categories specified by the card issuer.
3. Look out for bonus points on specific transactions or during promotional periods.
4. Use your card for regular expenses like groceries, dining, and utility bills to maximise points accumulation.
Redeeming Reward Points:
1. Log in to your credit card account or visit the issuer's rewards portal.
2. Browse through the available redemption options, such as vouchers, merchandise, or statement credits.
3. Select the reward of your choice and redeem your accumulated points accordingly.
4. Ensure to check for any minimum points required for redemption and any expiration dates associated with the points.
UPI Credit Card Eligibility Criteria
To be eligible for a UPI credit card in India, individuals must meet certain criteria set by the card issuer. Here are the key factors considered:
Eligibility Criteria:
Age Requirement: Applicants must typically be between 18 and 65 years old. Some card issuers may have specific age restrictions, so it's essential to check the requirements.
Income Eligibility: Most UPI credit cards require applicants to have a minimum income to qualify.?
Credit Score: A good credit score is often a prerequisite for UPI credit card approval.?
Employment Status: Card issuers may require applicants to be employed or have a stable source of income.?
Residential Status: Applicants must be Indian citizens or residents to apply for a UPI credit card. Non-resident Indians (NRIs) may have different eligibility criteria for certain cards.
Documents Required?
To apply for a UPI credit card in India, applicants typically need to provide several documents as part of the application process. These documents serve as proof of identity, address, income, and other necessary details. The common documents required include:
Identity Proof: Aadhar card, PAN card, passport, voter ID, or driver's license.
Address Proof: Aadhar card, utility bills (electricity, water, gas), passport, or rental agreement.
Income Proof: Salary slips, bank statements, income tax returns, or Form 16.
Photographs: Recent passport-sized photographs of the applicant.
Additional Documents: Depending on the card issuer's requirements, additional documents may be requested, such as employment proof for salaried individuals or business registration documents for self-employed individuals.
UPI Credit Card Annual Fees and Charges
Here's a breakdown of the annual fees and renewal fee waiver conditions for each UPI credit card:
1. HDFC Bank Millennia Credit Card:
Annual Fee: ?1,000 + GST
Renewal Fee: ?1,000 + GST
Renewal Fee Waiver: Annual fee waived on spending ?1 lakh in a year.
2. ICICI Bank Coral Credit Card:
Annual Fee: ?500 + GST
Renewal Fee: ?500 + GST
Renewal Fee Waiver: Not specified.
3. SBI Card PRIME:
Annual Fee: ?2,999 + GST
Renewal Fee: ?2,999 + GST
Renewal Fee Waiver: Annual fee waived on spending ?3 lakh in a year.
4. Axis Bank ACE Credit Card:
Annual Fee: ?499 + GST
Renewal Fee: ?499 + GST
Renewal Fee Waiver: Not specified.
5. American Express Membership Rewards Credit Card:
Annual Fee: ?1,000 + GST
Renewal Fee: ?4,500 + GST
Renewal Fee Waiver: Not specified.
6. Kotak Mahindra Bank PVR Gold Credit Card:
Annual Fee: ?999 + GST
Renewal Fee: ?999 + GST
Renewal Fee Waiver: Not specified.
7. Citi Cashback Credit Card:
Annual Fee: ?500 + GST
Renewal Fee: ?500 + GST
Renewal Fee Waiver: Not specified.
8. YES Bank Prosperity Rewards Plus Credit Card:
Annual Fee: ?499 + GST
Renewal Fee: ?499 + GST
Renewal Fee Waiver: Not specified.
9. IndusInd Bank Platinum Aura Edge Credit Card:
Annual Fee: ?500 + GST
Renewal Fee: ?500 + GST
Renewal Fee Waiver: Not specified.
10. Standard Chartered Super Value Titanium Credit Card:
Annual Fee: ?750 + GST
Renewal Fee: ?750 + GST
Renewal Fee Waiver: Not specified.
Other Fees & Charges
Common other fees and charges associated with UPI credit cards include:
Finance Charges: Interest is charged on the outstanding balance if the total amount due is not paid by the due date.
Late Payment Fees: Penalty fees charged for not paying the minimum amount due or the entire outstanding balance by the due date.
Cash Advance Fees: Charges levied for withdrawing cash using a credit card from ATMs or over the counter.
Foreign Transaction Fees: Charges applied for transactions made in foreign currencies or on international websites.
Overlimit Fees: Penalty fees are imposed when the cardholder exceeds the approved credit limit.
GST: Goods and Services Tax applicable on various fees and charges as per prevailing government regulations.
Card Replacement Fees: Charges for replacing a lost, stolen, or damaged credit card.
Balance Transfer Fees: Charges for transferring outstanding balances from another credit card to the UPI credit card.
EMI Conversion Fees: Fees for converting high-value transactions into Equated Monthly Installments (EMIs) for easier repayment.
How to Activate UPI Credit Cards
Activation of UPI credit cards can be done through various channels such as net banking, mobile apps, or dedicated activation pages provided by the card issuer. Here are the general steps to activate a UPI credit card:
Net Banking:
1. Log in to your bank's net banking portal using your credentials.
2. Navigate to the credit card section or card services.
3. Locate the option to activate a new credit card.
4. Follow the on-screen instructions to complete the activation process.
5. Once activated, your UPI credit card will be ready to use for transactions.
Mobile App:
1. Download and install the mobile banking app provided by your bank.
2. Log in to the app using your credentials.
3. Look for the credit card activation section within the app.
4. Select the option to activate a new credit card.
5. Follow the prompts to complete the activation process.
6. Your UPI credit card will be activated and ready for use once the process is completed.
Activation Page:
1. Visit the activation page provided by your card issuer using a web browser.
2. Enter the required details, such as card number, CVV, and date of birth.
3. Follow the instructions provided on the page to verify your identity and activate the card.
4. Once the verification process is complete, your UPI credit card will be activated and ready to use.
UPI Credit Cards Login/Net Banking
1. Login: Look for the "Login" or "Net Banking" option on the bank's homepage and click on it.
2. Enter Credentials: Enter your net banking username and password in the respective fields. Some banks may also require additional authentication, such as OTP verification.
3. Select Credit Card: Once logged in, locate the section for credit card services or accounts.
4. Choose UPI Credit Card: Select your UPI credit card from the list of linked cards or accounts.
5. View Transactions: You can now view your UPI credit card transactions, check your available credit limit, make payments, and manage other card-related activities.
6. Logout: After completing your transactions or managing your account, ensure to log out from your net banking session to maintain security.
How To Compare UPI Credit Cards & Choose The Best One?
When comparing UPI credit cards to find the best fit, several key factors come into play. Begin by scrutinising the rewards and benefits each card offers, including cashback rates, reward points, and welcome bonuses.?
Tailor your choice based on your spending habits and lifestyle preferences, whether you prioritise dining, shopping, travel, or entertainment. Additionally, factor in the annual fees, renewal fee waiver conditions, and associated charges to ensure the card's affordability and value proposition align with your financial goals.
Moreover, delve into the card's eligibility criteria, such as age requirements, income thresholds, and credit score prerequisites, to determine if you qualify for an application. Evaluate any special promotions or offers available, like zero-interest EMI schemes or complimentary perks, to enhance the card's overall value.?
Lastly, consider the issuer's reputation, reliability, and network coverage to ensure widespread acceptance and seamless usage across various merchants and payment platforms. By carefully weighing these considerations, you can confidently select the UPI credit card that best suits your needs and maximises your benefits and rewards.
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Conclusion:
Choosing the right UPI credit card involves a thorough evaluation of rewards, fees, eligibility criteria, and issuer reputation. By considering these factors and aligning them with your spending habits and financial objectives, you can make an informed decision that maximises benefits and enhances your overall financial experience.
FAQs:
Q1. How do I know which UPI credit card is best for me?
A1: Assess your spending habits, preferred rewards, and financial goals to find a card that offers the most relevant benefits and aligns with your lifestyle.
Q2: What fees should I consider before applying for a UPI credit card?
A2: Look out for annual fees, renewal fee waiver conditions, late payment fees, cash advance fees, and foreign transaction fees to understand the true cost of owning the card.
Q3: What documents do I need to apply for a UPI credit card?
A3: Generally, you'll need identity proof, address proof, income proof, and photographs. Specific requirements may vary by issuer.
Q4: Can I apply for multiple UPI credit cards simultaneously?
A4: While it's possible, applying for multiple cards simultaneously may affect your credit score. Evaluate your needs and apply for cards strategically to minimise any negative impact.