In search of best value back credit card

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2021-04-16

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

Last updated by: MJ911 2022-05-22

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.

NB: Offers are subjected to change. Please get in touch with the respective bank for the latest offers.

Top Comments

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_7549263

Unknown

2021-04-16

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Their is no one size fit all solution here. credit card usage and rewards are dependent upon your spend profile and preferences. for eg – if you a frequent flier, you might use a card that has good reward rate on air miles conversion, like Infinia or sbi air India etc.

I prefer to use cards based on their reward milestones and category. for eg –
1. BOB Eterna – monthly usage of ~42k on rental payments (reward rate of ~3.75%)
2. HDFC Diner – monthly usage of 80k on rental/others (reward rate of 3.3% + INR 1000 vouchers)
3. HDFC Infinia – regular household expenses (reward rate of 3.3%)
4. SBI Ola – monthly usage of ~7200 to convert to amazon vouchers (reward rate of 15%) – not using since last month because of ola postpaid issues
5. Amex MRCC+Gold charge – 12k monthly on paytm load (reward rate of 6.8% when redeemed for 24k collection)
6. Axis Ace – for bill payments (reward rate of 5%)
7. SBI Elite – Movie tickets & Groceries (2 tickets free per month, 5x on groceries)
8. SBI Air India/Infinia/Amex Plat Travel – all big purchases

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https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8392534

demerius2020

2022-04-21

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bridges wrote:
StanChart own website shows the value per point is 1.

https://www.sc.com/in/credit-cards/ultimate-car...

Do you own StanChart ultimate ?

If yes, and if this is your own experience (value of the RP), then I will update the main wiki with this information.

math

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8399759

bridges

2022-04-25

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demerius2020 wrote:
math

Here is the math -

5 Reward points/₹150 spent.
Each reward point carries value of 1₹ (SC’s own website)
That is ₹5/₹150 spent. Which is ₹3.33/₹100 spent.

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8400060

dhinchakrohit

2022-04-25

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bridges wrote:
Here is the math -

5 Reward points/₹150 spent.
Each reward point carries value of 1₹ (SC’s own website)
That is ₹5/₹150 spent. Which is ₹3.33/₹100 spent.

Reward catalogue contains Amazon egv?

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8400359

bridges

2022-04-25

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dhinchakrohit wrote:
Reward catalogue contains Amazon egv?

No.

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8400445

dhinchakrohit

2022-04-25

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bridges wrote:
No.

Ok, which is the best option available then for redemption

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8400564

demerius2020

2022-04-25

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bridges wrote:
Here is the math -

5 Reward points/₹150 spent.
Each reward point carries value of 1₹ (SC’s own website)
That is ₹5/₹150 spent. Which is ₹3.33/₹100 spent.

IF Each reward point carries value of 1₹ (SC’s own website) why dont SC credit the same amount as statement credit 1RP=1₹ ?

why NOT they will ever do it if 1RP=1₹ ?

am i missing some thing ??

oh yes ,its elementary math

1RP=/=1₹

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8400570

demerius2020

2022-04-25

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dhinchakrohit wrote:
Ok, which is the best option available then for redemption

bigbasket @ 0.86% redemption rate😄

even amazon provide 4% on bigbasket vouchers

also Rs. 90 +gst charges every time u try to redemtion

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8414966

bridges

2022-05-01

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demerius2020 wrote:
IF Each reward point carries value of 1₹ (SC’s own website) why dont SC credit the same amount as statement credit 1RP=1₹ ?

why NOT they will ever do it if 1RP=1₹ ?

SC is giving points. Points get accumulated. And you can redeem them on their website. Statement credit is not their system.

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8414976

bridges

2022-05-01

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demerius2020 wrote:
bigbasket @ 0.86% redemption rate😄

even amazon provide 4% on bigbasket vouchers

also Rs. 90 +gst charges every time u try to redemtion

True. The way SC charge redemption fees, it makes their credit card reward system awful – for any credit card.

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8415373

demerius2020

2022-05-01

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bridges wrote:
SC is giving points. Points get accumulated. And you can redeem them on their website. Statement credit is not their system.

yes
and they give vouchers from website with inflated price so as to force u to buy from them , but not from amazon/flipkart which have fair pricing

so the only website which have somewhere competittive price is bigbasket where voucher redemtion make value of 0.86% = reward vale of this card

STOP , talking in 5X and 10X but talk in terms of %profit a customer will get for Rs. 100 spend

and then there is redemption fees +gst from customer pocket

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8466030

bridges

2022-05-22

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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)

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8466033

Common-man

2022-05-22

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bridges wrote:
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)

@MJ911

Op you tagged incomplete id , it’s Mj911.

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8466074

bridges

2022-05-22

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thanks for correcting the typo.

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8466083

bridges

2022-05-22

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bridges wrote:
Updates to IDFC Credit cards.

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.

These will kick in from 17-May-22. We will update the wiki then.

Dear @MJ911 ,

Please replace the IDFC credit card line with the above two lines.

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8466213

MJ911

Admin

2022-05-22

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bridges wrote:
Dear @MJ911 ,

Please replace the IDFC credit card line with the above two lines.

Done😃

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8466236

kartikxxx

2022-05-22

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Standard chartered (last in deal wiki)ki fee hata di jaye toh best card hai laughing

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8545887

bridges

2022-07-03

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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.

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8545945

vithanidevesh725

2022-07-03

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demerius2020 wrote:
yes
and they give vouchers from website with inflated price so as to force u to buy from them , but not from amazon/flipkart which have fair pricing

so the only website which have somewhere competittive price is bigbasket where voucher redemtion make value of 0.86% = reward vale of this card

STOP , talking in 5X and 10X but talk in terms of %profit a customer will get for Rs. 100 spend

and then there is redemption fees +gst from customer pocket

Inflated price is for general. If you hold utlimate card - price will be 1000 points for 1000 rs voucher - whether its for bigbasket or croma or any shopping site

https://www.desidime.com/discussions/in-search-of-best-value-back-credit-card?page=7#post_8545995

Sins1995

2022-07-03

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bridges wrote:
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.

Imo, HDFC IOCL is the best card for fuel spends as Octane has 1500+gst annual fees and HDFC card can be obtained LTF. But does it work on other than HDFC POS machine on IOCL?