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#FinancialBytes: Credit-card options if your salary is below Rs. 40,000pm

Ramya Patelkhana

#FinancialBytes: Credit-card options if your salary is below Rs. 40,000pm

25 Dec 2018: #FinancialBytes: Credit-card options if your salary is below Rs. 40,000pm

Credit cards have become an essential part of our lives today. People use credit cards for almost everything, including online/offline shopping, bill payments, travel purchases, etc.

There are a number of credit cards available in India, but choosing the right one can help save money.

If you are someone with a monthly salary below Rs. 40,000, here are 5 credit card options for you.

#1: Platinum Chip Credit Card offered by ICICI Bank

ICICI Bank Platinum Chip Credit Card is one of the best options for someone with a salary below Rs. 40,000.

It 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.

#2: SimplyCLICK SBI Card among the best for online shopping

State Bank of India's "SimplyCLICK Credit Card" is another good option for those earning below Rs. 40,000/month.

With Rs. 499 annual fee (reversible on Rs. 1L annual spends), it offers Rs. 500-worth Amazon "welcome voucher".

Users can 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.

#3: HSBC Visa Platinum Card offers travel, dining, shopping offers

Next on the list is HSBC Visa Platinum Card with zero joining and annual fees; it's one of the most-preferred credit cards.

Cardholders can enjoy 10% cashback on all spends (initial 90 days), 3x rewards on hotel/dining/telecom expenses (first 12 months), 2 points for every Rs. 150 spent, 20% Dining Privileges discount, BOGO (buy one, get one free) BookMyShow tickets (twice monthly), vouchers, etc.

#4: Kotak Mahindra Bank's Urbane Gold Credit Card

Kotak Urbane Gold Credit Card is another good option. Those in the age bracket of 21-65 years with an annual income of Rs. 3 lakh or above are eligible.

The card comes with no joining fee and an annual fee of Rs. 199. Cardholders can earn 3X reward points against every Rs. 100 spent and enjoy attractive deals and free PVR movie tickets too.

#5: Axis Bank's Insta Easy Credit Card

Axis Bank's Insta Easy Credit Card issued against fixed deposits is another good option; iyt doesn't have a minimum salary requirement. It's issued against a fixed deposit of Rs. 20,000-25,00,000.

The zero-fee card offers a credit limit of up to 80% of FD's principal value.

Customers can enjoy 15% discount at partner restaurants (Dining Delights), 1% fuel-surcharge waiver, convert-to-EMI facility, eDGE Reward points, etc.