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Business
08 Feb 2019

#FinancialBytes: Best credit card options for low income earners

List of popular credit cards for the low-salaried

Credit cards have become an essential part of our lives and are one of the widely-used cashless payment methods.

There are various types of credit cards to cater to different needs. Choosing the right card can help save money, but it is not always easy, especially for low-income earners.

To help them choose better, here are 5 credit card options for the low-salaried.

In context

List of popular credit cards for the low-salaried
State Bank of India's SimplyCLICK Credit Card

#1

State Bank of India's SimplyCLICK Credit Card

State Bank of India's SimplyCLICK Credit Card is a popular option for those with a low salary.

With Rs. 499 annual fee and Rs 499 renewal charges, it offers Rs. 500-worth Amazon voucher as welcome gift.

Users earn 10 reward points for every Rs. 100 spent online (exclusive partners), 5 points for other online spends, 1 point for regular purchases, and 2.5% fuel-surcharge waiver.

#2

ICICI Bank's Platinum Chip Credit Card

ICICI Bank Platinum Chip Credit Card is one of the best options for someone with a low salary.

The card comes with a Rs. 199 joining fee and Rs. 99 annual fee.

Cardholders can earn PAYBACK Reward points and enjoy minimum 15% savings on dining (Culinary Treats), 1% fuel surcharge waiver, annual fee waiver on annual spends of Rs. 50,000 or more, etc.

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MoneyBack Credit Card from HDFC Bank

#3

MoneyBack Credit Card from HDFC Bank

HDFC Bank's MoneyBack Credit Card is another good credit card option; it offers good rewards for online transactions.

It has a joining fee of Rs. 500 and an annual fee of Rs. 500. Cardholders can earn 4 reward points for every Rs. 150 spent online (2 points on other spends). Accumulated points can be redeemed as cashback. Customers can enjoy 1% fuel surcharge waiver.

#4

YES Bank Prosperity Reward Plus Credit Card

YES Bank Prosperity Reward Plus Credit Card is another good option. It comes with a Rs. 350 first-year membership fee; customers are charged Rs. 350 for membership renewal.

Cardholders earn 3 Reward Points for every Rs. 100 spent on online/dining transactions (2 points on other spends) and enjoy accelerated rewards, offers across travel, dining, shopping, wellness and more, fuel surcharge waiver, Instant EMI, etc.

HDFC Bank's Bharat CashBack Credit Card

#5

HDFC Bank's Bharat CashBack Credit Card

HDFC Bharat CashBack Credit Card is also among the popular options for low-salaried people. It comes with a Rs. 500 joining/renewal fee.

While it does not provide reward points on transactions, the cardholders can enjoy 5% cashback benefits on rail bookings, fuel spends, grocery spends, bill payments and recharges, EasyEMI, PayZapp, and SmartBUY transactions, and 1% fuel surcharge waiver at any fuel station.

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Most asked questions

What are some credit card options for someone with no income?

How to save money using credit card?

What are some credit cards with good reward programs?

What are some good travel credit cards for frequent fliers?

More questions

What are some credit card options for someone with no income?

Asked on 08-02-2019 by Paridhi Rodrigues

Answered by NewsBytes

In India, some banks issue credit cards to people with no income, even students, against fixed deposits and strong savings accounts. Some options include: Axis Bank Insta Easy Credit Card, SBI Card Unnati, ICICI Bank Instant Platinum Credit Card, and Kotak Mahindra Bank's Aqua Gold Credit Card.

How to save money using credit card?

Asked on 08-02-2019 by Aradhya Singh

Answered by NewsBytes

Credit cards can help you save money and earn rewards. Here's how: Avail discounts, deals, and cashback offers to save money using credit cards. Save on fuel purchases through fuel surcharge waivers or reward points. Avail travel offers, restaurant deals, and free movie tickets. Earn reward points for transactions and redeem them. Avail No-cost EMI and flexible EMI offers.

What are some credit cards with good reward programs?

Asked on 08-02-2019 by Divya Sen

Answered by NewsBytes

Here are some credit cards offering good reward points and other benefits: Standard Chartered Platinum Rewards Credit Card, SBI SimplyCLICK Advantage Credit Card, YES FIRST Preferred Credit Card, HDFC Diners ClubMiles Credit Card, and Citi Rewards Credit Card.

What are some good travel credit cards for frequent fliers?

Asked on 08-02-2019 by Vivaan Powar

Answered by NewsBytes

Travel credit cards offer rewards, free flight tickets, coupons to frequent flyers. Here are 5 good options: (1) Jet Airways American Express Platinum Credit Card, (2) Citi PremierMiles Credit Card, (3) Air India SBI Signature Card, (4) American Express Platinum Travel Credit Card, and (5) JetPrivilege HDFC Bank World Credit Card.

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