Top 5 credit cards with low fees and attractive rewards program in 2023

There are credit cards with a good rewards program and low annual fees. Here’s a look at five such cards which score on these parameters.

Fees and Rewards on Credit Cards

Credit cards are a rewarding way to transact. They allow you to shop or transact on credit, get attractive privileges and benefits, and earn reward points on your spending.

However, credit cards come with a list of charges that can result in considerable expenses if not considered. While some charges are avoidable, some are not. For instance, the annual fee is a recurring charge on the card, an added expense. While some free credit cards are also free, their reward program is not as attractive.

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That is why consumers, particularly those new to credit cards, look for cards with a low annual fee but do not compromise on rewards. In this context, here are five credit cards which fulfil these two parameters and are a good pick –

  1. Standard Chartered EaseMyTrip Credit Card – Annual Fee – Rs.350

This is a co-branded credit card issued by Standard Chartered in partnership with EaseMyTrip. This travel-oriented credit card offers a flat 20% discount on hotel bookings and 10% on flights. Bust ticket bookings also attract a discount of Rs.125. If you make travel bookings on other websites or apps, you earn 10X reward points on every Rs.100 spent. You also get complimentary quarterly lounge access at domestic airports and once-per-year access at international airports.

  1. BPCL SBI Credit Card – Annual Fee – Rs.499

Another co-branded card issued in tie-up with BPCL, the credit card offers 13X reward points at BPCL petrol pumps across India. This equals a 4.25% fuel surcharge waiver. You also earn 5X reward points on Rs.100 spent on lifestyle expenses, groceries and at departmental stores.

  1. Axis Bank Ace Credit Card – Annual Fee – Rs.499

Get 5% cashback on utility bill payments if you pay through GPay. 4% cashback is allowed on Ola, Zomato and Swiggy and 2% on other spends. You can also get up to 20% discount across 4000+ restaurants within India and four complimentary domestic lounge access per year.

  1. Flipkart Axis Bank Credit Card – Annual Fee – Rs.500

This is another Axis Bank credit card but is offered in partnership with Flipkart. The card offers welcome benefits worth Rs.1100 after you join. You earn 5% cashback on Myntra and Flipkart and 4% on other preferred merchants. You can enjoy up to 20% discount at partnered restaurants across India and four complimentary domestic lounge access.

  1. HDFC Moneyback + Credit Card – Annual Fee – Rs.500

A rewarding credit card, you get 10X cash points across preferred merchants like Amazon, Flipkart, BigBasket, Swiggy and Reliance Smart Super Stores. You can also claim 5X cash points on EMI purchases made at merchant outlets and 2X points on every Rs.150 spent otherwise. The accumulated cash points can be used across a varied product catalogue or can be converted to a statement credit. You also get a complimentary gift voucher worth Rs.500 if you spend Rs.50,000 per quarter.

So, take your pick from any of these cards and unlock attractive rewards without paying too much on annual fees.

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