Searching for the best rewards credit card in India in 2026?
You’re not alone. Credit card ads promise 5X points, 10X rewards, free flights, vouchers, and lounge access, but most people don’t know how much real value they get.
This is not a promotional article. This guide helps you choose the right rewards card based on how YOU spend.
By the end of this guide, you will understand:
- How rewards credit cards really work in India
- Which cards suit travel, shopping, or mixed spenders
- Fees, caps, hidden conditions
- How to calculate real reward value
- Whether a rewards card is even right for you
Quick tip: Rewards cards work best if you spend regularly on shopping, travel, and dining, and always pay your full bill each month.
Yeh sab samajhna zaroori hai, warna “best rewards card” sirf marketing line ban ke reh jaata hai.
Understanding Reward Points & How They Work
What Are Reward Points?
Reward points are incentives you get when you use your credit card. Each bank sets its own reward rate. For example, you might earn 4 points for every ₹150 you spend. These points add up in your card’s rewards account.
Once earned, you can redeem points for:
- Gift vouchers (Amazon, Flipkart, lifestyle brands)
- Discounts on travel bookings
- Cashback or statement credits
- Flight tickets, hotel stays, or airline miles
Sometimes, reward points are worth more than regular cash back, especially if you use them for travel or expensive vouchers.
How Reward Points Are Calculated
Banks usually follow one of these models:
| Spend | Reward Rate | Explanation |
|---|---|---|
| ₹150 = 2 points | Standard | Basic tier across many cards |
| ₹100 = 5 points | Category bonus | Higher rewards on dining/online |
| Milestone bonus | Extra points | Bonus after yearly spend threshold |
For example, if your card gives you 4 points for every ₹150 you spend, and you spend ₹15,000 in a month:
You would earn
(15,000 ÷ 150) × 4 = 400 reward points
If you add up all your spending, you can see why picking the right card is important.
Reward Points vs Simple Cashback
Some cards offer straight cash back (like 5% on online spending). Others give points that must be converted for value.
Cashback = easier but limited value
Reward points = more versatile, potentially higher value if redeemed smartly
For travel and lifestyle spenders, reward points often trump cash back because you can get more value per point.
Top 8 Best Rewards Credit Cards in India 2026
Here are some of the best rewards credit cards for different needs. We include actual annual and joining fees, how the rewards work, and tips on when each card is most useful.
| Credit Card | Joining Fee | Annual Fee | Best Suited For | Reward Highlights |
|---|---|---|---|---|
| HDFC Regalia | ₹2,500* | ₹2,500* | Premium lifestyle & travel | 4 points/₹150 + lounges |
| American Express Platinum Travel | ₹5,000 | ₹5,000 | Travel & luxury perks | Welcome points + travel benefits |
| SBI IndiGo Card | Varies | Varies | Frequent flyers | Up to 7% rewards on travel |
| SBI SimplyCLICK | ₹499 | ₹499 | Online shoppers | 5–10X reward points |
| BOB Premier Card | ₹1,000 | ₹1,000 | Dining & travel spender | 5X points on select |
| IDFC First Select | Nil | Nil | Cashback + rewards | Zero fee + good return |
| Axis Bank XTRA Card | ₹499 | ₹499 | Fuel & groceries | Bonus on fuel spends |
| Lifetime Free Cards (e.g., MagniFi / Amazon Pay) | Nil | Nil | Beginners | Lifetime zero fee |
* Fee amounts are typical ranges and may vary by variant and offers; always check issuer T&Cs.
1) HDFC Regalia: Best All-Round Reward & Lifestyle Card
Joining Fee: ₹2,500 (approx)
Annual Fee: ₹2,500 (approx)
Best Suited For: Frequent travellers and premium lifestyle spenders
Rewards Rate: ~4 points per ₹150 spent on most categories
💡 Why It’s Great:
- Generous reward rate across spends
- Airport lounge access
- Travel and lifestyle benefits
- Bonus points on milestones
➡ Premium card with value that often exceeds the fee for active users.
2) American Express Platinum Travel: Best for Travel Enthusiasts
Joining Fee: ₹5,000 (approx)
Annual Fee: ₹5,000 (approx)
Best Suited For: Loyal travellers & luxury experiences
Rewards: Welcome points + bonus categories
💡 Perks:
- Huge welcome bonus (~10,000 points)
- Good earning rate on travel expenses
- Travel credits and hotel perks
If you travel often and redeem points for flights/hotels, this card can be high value.
3) SBI IndiGo Card: Best for Frequent Flyers
Joining Fee & Annual Fee: Depends on the variant
Best Suited For: Travellers loyal to IndiGo
Rewards: Up to 7% rewards on IndiGo bookings
Frequent flyers earn bonus miles and travel perks that easily outweigh the fees when used wisely.
4) SBI SimplyCLICK: Best for Online Shoppers
Joining Fee: ₹499
Annual Fee: ₹499
Best Suited For: Shopping lovers
Rewards: 5–10X points on online spends
Real-Life Payoff: Earn thousands of reward points just by making your everyday online purchases on Amazon, Flipkart, Zomato, travel portals, etc.
5) BOB Premier: Great Value Rewards for Dining & Travel
Joining Fee: ₹1,000
Annual Fee: ₹1,000
Best Suited For: Dining, travel, general spending
Rewards: ~5X points on dining/travel categories
A balanced card that keeps points flowing on what most people spend the most.
6) IDFC First Select: Lifetime Free Rewards + Cashback
Joining Fee: Nil
Annual Fee: Nil
Best Suited For: Beginners & low-fee seekers
Rewards: Cashback + points on select spends
💡 Why It’s Winner: Zero fee forever = every earned reward is pure value. Great starter card.
7) Axis Bank XTRA — Fuel & Everyday Spends
Joining Fee: ₹499
Annual Fee: ₹499
Best Suited For: Fuel and groceries
Rewards: Bonus points on fuel & everyday spends
If fuel or grocery bills are a big part of your spending, this can help you earn steady rewards.
8) Lifetime Free Players (e.g., MagniFi / Amazon Pay)
Joining Fee: Nil
Annual Fee: Nil
Best Suited For: Beginners, students
Rewards: Fixed % cashback on specific categories
Why You Should Consider:
- No recurring cost
- Earn rewards even on small spends
- Easy redemption
Lifetime free cards are ideal starter options before moving to premium rewards cards.
Eligibility: Age, Income, CIBIL & Profile
Even the best rewards card is useless if most readers cannot qualify, so add a practical eligibility section.
Typical eligibility band for a strong mid‑premium rewards card in India 2026:
- Age
- Minimum: 21 years for the primary cardholder (18 for add-on cards).
- Maximum: Often 60–65 years for salaried, slightly higher for self‑employed.
- Income / Salary
- CIBIL / Credit Score
- Comfortable approval usually at 750+, but many banks accept 700+ if the profile is otherwise strong.
- Thin or new‑to‑credit profiles might be offered lower‑tier or secured cards first.
- Employment Type
- Being salaried with a reputable company or self‑employed with stable ITRs improves the chances of getting mid‑premium rewards cards.
- Existing Banking Relationship
“Best rewards card mostly unhi ko milta hai jo bank ke point of view se ‘stable and profitable’ dikhte hain; high, predictable spends and timely bill payment.”
How to Get the Most Reward Points in Real Life
1) Match Your Card to How You Spend
For example, if you do a lot of online shopping, choose a card that gives extra rewards for those purchases.
2) Aim for Milestone Bonuses
Many cards offer bonus points if you spend a certain amount in a year.
3) Take Advantage of Category Rewards
You can often earn more points on dining, travel, or fuel purchases.
4) Always Pay Your Full Bill Each Month
If you pay interest, it cancels out your rewards, so make sure to pay on time.
5) Watch Out for Excluded Categories
Some cards don’t give points for things like wallet top-ups or government payments, so always read the fine print.
How to Redeem Reward Points
- Online Portal/App: Most banks let you redeem through their portal
- Vouchers: Amazon, Flipkart, lifestyle brands
- Flight & Hotel Bookings: Transfer points to airline/hotel partners (on select cards)
- Statement Credit: Convert points to reduce your bill
Note: Points may expire; check expiry periods. Always redeem what you can before they lapse.
Common Mistakes People Make
- Picking a card just because it’s popular, rather than matching it to your spending habits
- Not checking the limits on rewards or which purchases don’t earn points.
- Overlooking the rules for getting your annual fee waived
- Letting your points expire without using them
If you avoid these mistakes, you’ll get the most value from your card rewards.
Expert Tips From Fatafatloot
- Don’t go after points without a plan. If your spending doesn’t match the card’s reward categories, you’ll earn points much more slowly.
- Use your cards wisely. Combine different cards to take advantage of each one’s best reward categories.
- Pay attention to what you need to spend to get your annual fee waived. Meeting these spending targets can save you a lot.
- Keep an eye on when your points expire. If you forget about them, you could lose out on valuable rewards.
Final FatafatLoot Verdict
There isn’t one card that works best for everyone. The right card is the one that matches your spending habits.
✔ Beginners should start with a lifetime-free rewards card.
✔ Frequent online shoppers should go for high online reward cards.
✔ Travellers unlock the most value from travel-centric rewards cards.
✔ Premium spenders can profit from high-reward, concierge-style cards.
Be clear about your choice. Pick a card that matches your habits, not just what’s popular.
Are rewards credit cards better than cashback cards?
Yes, if you redeem smartly and spend regularly.
Do reward points expire?
Yes. Most expire in 2–3 years.
Can I convert reward points to cash?
Some cards allow statement credit, but value is usually low.
Are rewards cards good for beginners?
Start with entry-level rewards or hybrid cashback-and-rewards cards.
What is a good reward rate?
Anything above 2% real value is considered good.
Joginder Poswal is an IT professional who became an advocate, aiming to make digital and legal topics easier to understand for Indians. With over 15 years of experience in IT infrastructure and a law degree, he focuses on cybersecurity, digital compliance, and fintech solutions. He shares practical advice on how technology and finance work together within Indian regulations.