In search of best value back credit card
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Which credit card provides highest value back in terms of Rupee value?
There is a need to spend large sum for this year and coming year for higher education. There are many cards that provide rewards. But Rupee value of the reward points vary depending on the provider.
I am initiating this thread to search for the best value back card and not best rewards or best cashback cards.
(Pls refer the deal wiki section for more details.)
Can you plz suggest more cards with better value back?
Deal Wiki
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Last updated by: deb4O5
Amex rewards, when collected beyond 24000 pts, gives ₹9000 statement credit. Spend ₹1500x4/month to earn 1000 points/month. This turns out to be ₹12.50/₹100 spent. Additional 1000 points/₹20000 spent. Those points are at ₹1.87/₹100 spent. But if you are spending beyond that ₹1500x4/month but less than ₹20000 the point value is ₹0.75/₹100 spent.
IndusInd Bank platinum : ₹0.85/reward point. Every ₹100 spend gives 1.5 points. That is ₹1.27/₹100 spent. On utility, insurance premiums, payments to Govts and education fees, the cashback is ₹0.68/₹100 spent.
HDFC Infinia gives ₹1/point if redeemed on flight/hotels else ₹0.5/point. 5 points/₹150 spent. Effectively, ₹3.33/₹100 spent if redeemed on flight/hotels else ₹1.66/₹100 spent
HDFC Regalia is 4 points/₹150 spent. Depending on the merchants point value varies between 31ps to 35ps/point.
SBI Simply Click is ₹0.25/₹100 spent offline. Or ₹1.25/₹100 spent online
ICICI Bank Amazon Pay co branded card : 5% cb for Prime, 3% for non-prime, 2% for Partner merchants using Amazon Pay, 1% cashback everything else.
Flipkart Axis card provides: 5% cb on Flipkart, 4% on Uber/Swiggy, 1.5% on all others except fuel, cash, EMI, gold etc.
HDFC Millenia : 5% Cashback on Amazon, Flipkart, Tata CLiQ, Myntra, Swiggy, Zomato, BookMyShow, Cult.fit, Sony LIV and Uber, 1% on everything else except Fuel. Rs.500 must be accumulated as cashback before it gets credited to statement balance on request. Unutilized cashback lapses after 2 years.
HSBC Visa Platinum : 2 points/₹150 spent. Max value 40p/point = ₹0.53/₹100 spent
BOB Eterna : ₹3.75/₹100 spent on dining, travel and international transactions. And 75ps/₹100 spent on other categories.
Indus Pinnacle : E-com – ₹2.5 / ₹100 spent, E-com travel and airline – ₹1.5 / ₹100 spent, Everything else – ₹1 / ₹100 spent.
Axis Ace : 5% cb on GooglePay(Bills), 4% on Ola/Swiggy, 2% on everything else except fuel, cash, EMI, gold, rent pay.
W.e.f. March 15th, 2022, cashback is not eligible for payments made towards rent (MCC – 6513)
Ola Money SBI : Cashback of 7% on Ola rides. Booking via Cleartrip : 5% on flights, 10% on hotel, 6% on international hotels, 12% on activities. 1% on everything else.
IDFC First Millenia/Classic : If total spend is greater than ₹20000/billing cycle : ₹2.5/₹150 spent (1.66%), if spend is less than ₹20000 : ₹1.5/₹150 spent online (1%), ₹0.75/₹150 spent offline (0.5%). No points/cb on fuel, EMI, Insurance, Cash Withdrawal. ₹99+GST for reward redemption (equivalent to ₹11682 spent if you earn rewards point mostly in 1% slab). LTF.
IDFC First Select/Wealth :If total spend is greater than ₹25000/billing cycle : ₹2.5/₹125 spent (2%), if spend is less than ₹20000 : ₹1.5/₹125 spent online (1.2%), ₹0.75/₹125 spent offline (0.6%). No points/cb on fuel, EMI, Insurance, Cash Withdrawal. ₹99+GST for reward redemption. (equivalent to ₹9735 spent if you earn rewards point mostly in 1.2% slab). LTF.
Standard Chartered Super Value Titanium : 4% cashback on fuel (5% Cashback – 1% Surcharge), Max ₹2000/transaction. Max. cb ₹200/month. 5% cashback on telecom and utility – postpaid mobile, landline, electricity, DTH, water and piped gas. Min Rs.₹750/transaction, Max cb ₹200/month for telecom, ₹100/month for utility. Telecom and utility must be paid through SC’s billpay section of the website.
SBI BPCL : 3.25% cashback (Fuel Surcharge is waived in all credit cards so not adding that 1% to 3.25% as advertised). 13 points/₹100 spent. 1 point = ₹0.25. Surcharge waiver applicable only on transaction less than ₹4000. 1% Surcharge is applicable if card is used for ₹10000+ per statement cycle.
Standard Chartered Ultimate : Flat 3.3% cashback. No limit, no categories, no exclusions.₹5000 joining fee, ₹6000 cashback. ₹5000 renewal fee, ₹5000 cashback. CB redemption only on SC’s rewards360 website. Reward redemption fee ₹118 incl. GST.
BoB Select : Similar to Amex, get 1000 reward points from ₹1000x5 spent/month. ₹0.25/point. That is 5% (₹250) cashback. Additionally, ₹1.25/₹100 spent on Dining, Utility bills and Online – Capped at ₹250/month.
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Cashback on Fuel cards:
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Indian Oil Citi - 2.66% - Cap Rs.200/month
Indian Oil HDFC - 5 % - Cap Rs.250/month
SBI BPCL - 2.25% - Cap Rs.325 (Including surcharge of Rs.100)
SBI BPCL Octane - 6.25% - Cap Rs.625/month
Indian Oil Axis - 4% - Cap Rs.250/month
ICICI HPCL Coral - 2.5% - Cap Rs.100/month
Standard Chartered Super Value Titanium - 4% - Cap ₹200/month
@MJ911
Op you tagged incomplete id , it’s Mj911.
I would like to update the wiki with Fuel focused cards with this info -
Benefits in terms of Rupee value:
Indian Oil Citi - 2.66% - Cap Rs.200/month
Indian Oil HDFC - 5 % - Cap Rs.250/month
SBI BPCL - 2.25% - Cap Rs.325 (Including surcharge of Rs.100)
SBI BPCL Octane - 6.25% - Cap Rs.625/month
Indian Oil Axis - 4% - Cap Rs.250/month
ICICI HPCL Coral - 2.5% - Cap Rs.100/month
Standard Chartered Super Value Titanium - 4% - Cap ₹200/month
Do let me know if you have more information on these cards or you want to add any other cards in this category.
Update:
Old :
Amex rewards, when collected beyond 24000 pts, gives ₹9000 statement credit. Spend ₹1500x4/month to earn 1000 points/month. This turns out to be ₹12.50/₹100 spent. Additional 1000 points/₹20000 spent. Those points are at ₹1.87/₹100 spent. But if you are spending beyond that ₹1500x4/month but less than ₹20000 the point value is ₹0.75/₹100 spent.
New :
Amex : 4.16% value back in almost all categories except Tanishq voucher which can be earned only at 24000 points and gives value back at 6.66%. The easiest way to collect points are spending min. ₹1500x4/month to earn 1000pts/month. Additional 1000 points/₹20000 spent turns out to be 1.25% value back.
Guys, I update the information here so that you can provide your valuable inputs too. My idea is to get the wiki updated only after people discuss, provide corrections or at least verify the information. Please help to keep the wiki latest.
Update on Axis ACE :
W.e.f. September 15th, 2022, cashback shall not be eligible for payments made towards purchase of gold/jewelry items(all transactions made on MCC – 5944) and insurance premium payments (all transactions made on MCC – 6300)
So for insurance premiums, imho, the only viable option to get some significant value back is to buy Amazon gift cards using Amex, every month 1500x4. Adding them to Amazon pay and use it for premiums. Value back will be 4.16% as mentioned in my post above.
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Hi @ MJ91,
Can you please update this line -
Axis Ace : 5% cb on GooglePay(Bills), 4% on Ola/Swiggy, 2% on everything else except fuel, cash, EMI, gold.
with the below new line -
Axis Ace : 5% cb on GooglePay(Bills), 4% on Ola/Swiggy, 2% on everything else except fuel, cash, EMI, gold, rent pay.
W.e.f. March 15th, 2022, cashback is not eligible for payments made towards rent (MCC – 6513)