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#FinancialBytes: Best credit card options for low income earners

Ramya Patelkhana


#FinancialBytes: Best credit card options for low income earners

08 Feb 2019: #FinancialBytes: Best credit card options for low income earners

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.

#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.

#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.

#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.