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Best Credit Cards for Cashback in India 2025–26: Your Ultimate Money-Saving Guide

💳 India’s Money Guide 2025–26

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Best Credit Cards for Cashback in India: Stop Letting Your Money Go to Waste

A plain-English guide to cards that actually put real money back in your pocket — every single month.

Updated February 2026 | 10 min read | Personal Finance

Let’s be real — most Indians swipe their credit card, collect a bunch of reward points, and then never bother redeeming them before they expire. Sound familiar? Cashback credit cards fix this problem completely. You spend money, and a percentage comes straight back to you. No conversion charts. No airline miles. No expiry headaches. Just cash.

In this guide, we’ve done the research so you don’t have to. Below you’ll find the best cashback credit cards in India right now — tested, compared, and broken down honestly.

What Exactly Is a Cashback Credit Card?

A cashback credit card returns a fixed percentage of your spending back to you — either as a statement credit, as balance in a partner wallet (like Amazon Pay), or directly deposited to your bank account.

For example, if you spend ₹10,000 on online shopping with a card that gives 5% cashback, you get ₹500 back. Simple. That’s the beauty of it.

Not all cashback cards are built the same though. Some give flat rates across all purchases. Others offer higher rates on specific categories like dining, fuel, or online shopping. Knowing your own spending habits is the first step to picking the right card.

Top 6 Best Cashback Credit Cards in India (2025–26)

SBI Cashback Credit Card

Best for Online Shopping

If you do most of your shopping online — Amazon, Flipkart, Myntra, Swiggy — the SBI Cashback Card is arguably the best no-fuss option out there. The rewards are automatic, there’s no tracking required, and the cashback is credited directly to your account.

5% cashback on all online spends (capped at ₹5,000/month)
1% cashback on all offline purchases
Annual fee of ₹999 — waived if you spend ₹2 lakh/year
1% fuel surcharge waiver up to ₹100/month
Auto-credited cashback — no redemption steps

Best for: Regular online shoppers who don’t want to deal with complex reward systems.

₹999 Annual Fee 5% Online Fee Waiver Available

Amazon Pay ICICI Credit Card

Best Lifetime Free Card

This one is a legend in the cashback card world — and for good reason. It costs absolutely nothing to hold (no joining fee, no annual fee, ever), yet delivers meaningful cashback if you’re a regular Amazon shopper or an Amazon Prime member.

5% cashback on Amazon for Prime members (3% for non-Prime)
2% cashback on 100+ Amazon Pay partner merchants
1% cashback on all other eligible purchases
Zero annual fee — lifetime free
Cashback auto-credited to Amazon Pay balance monthly
No cashback on fuel, EMI transactions, or gold purchases

Best for: Amazon Prime members who shop frequently and want a zero-cost card that rewards them consistently.

₹0 Annual Fee 5% on Amazon Lifetime Free

Axis Bank Ace Credit Card

Best for Bills & Utilities

Paying electricity bills, mobile recharges, and utility bills through Google Pay? The Axis Ace is designed precisely for this. Its 5% cashback on utility bill payments via GPay is unmatched, and the 1.5% on all other spends is the highest flat-rate cashback offered by any entry-level card in India right now.

5% cashback on utility bill payments via Google Pay
4% cashback on Swiggy, Zomato, and Ola
1.5% unlimited cashback on all other card spends
Annual fee ₹499 — waived on ₹2 lakh annual spend
4 complimentary domestic lounge visits per year
Note: 5% bill cashback applies for Android users via GPay only

Best for: People who spend significantly on utilities, food delivery, and cab rides every month.

₹499 Annual Fee 5% on Bills 1.5% Flat Rate

HDFC Bank Millennia Credit Card

Best for Multi-Platform Shoppers

If you shop across multiple platforms — Amazon, Flipkart, Swiggy, Zomato, Myntra — rather than staying loyal to just one, the HDFC Millennia is your card. It casts a wide net across popular platforms and delivers solid 5% cashback across all of them.

5% cashback on Amazon, Flipkart, Myntra, Swiggy, Zomato, Uber, and more
1% cashback on all other purchases and wallet reloads
Annual fee ₹1,000 — waived on ₹1 lakh annual spend
Quarterly milestone gifts: lounge access or ₹1,000 voucher on ₹1 lakh spend/quarter
Fuel surcharge waiver of 1% up to ₹250/month

Best for: Urban millennials who split their online spending across multiple major apps and platforms.

₹1,000 Annual Fee 5% on 10+ Platforms Low Spend Waiver

Flipkart Axis Bank Credit Card

Best for Flipkart Loyalists

Dedicated Flipkart shoppers will love this one. The card delivers serious savings on Flipkart and its ecosystem brands, with an eye-catching 7.5% on Myntra and solid returns on Cleartrip and Swiggy too. It’s a lifestyle card built for anyone deeply embedded in the Flipkart world.

7.5% cashback on Myntra purchases
5% cashback on Flipkart and Cleartrip spends
4% cashback on preferred merchants (Swiggy, PVR, Uber, etc.)
1.5% cashback on all other eligible spends
Annual fee ₹500 — waived on ₹2 lakh annual spend
4 complimentary domestic lounge accesses per year

Best for: Those who regularly shop on Flipkart, Myntra, or Cleartrip and want to squeeze maximum value from each purchase.

₹500 Annual Fee 7.5% on Myntra Lounge Access

YES BANK Paisabazaar PaisaSave Card

Best for Dining & Travel

Most dining and travel cards tie you down to specific restaurants or partner brands. This one doesn’t. The 6% cashback on dining and travel applies everywhere, with no merchant restrictions — a rare and genuinely useful feature that frequent diners and travellers will appreciate.

6% cashback on all dining and travel spends — no brand restrictions
Cashback capped at ₹3,000 per month
1% base cashback on all other spends including UPI
Joining fee: Nil. Annual fee: ₹499 (waived on ₹1.2 lakh annual spend)

Best for: Those who spend heavily on restaurants, food delivery, hotels, or travel bookings throughout the month.

₹499 Annual Fee 6% Dining & Travel No Brand Lock-in

Quick Comparison: At a Glance

Card	Top Cashback Rate	Annual Fee	Best For
SBI Cashback Card	5% online	₹999 (waivable)	Online shopping
Amazon Pay ICICI	5% on Amazon	Lifetime Free	Amazon Prime users
Axis Bank Ace	5% on bill payments	₹499 (waivable)	Utility bills & food
HDFC Millennia	5% on 10+ platforms	₹1,000 (waivable)	Multi-platform shoppers
Flipkart Axis Bank	7.5% on Myntra	₹500 (waivable)	Flipkart loyalists
YES BANK PaisaSave	6% dining & travel	₹499 (waivable)	Dining & travel

How to Choose the Right Cashback Card for You

Picking the best card isn’t about chasing the highest percentage number — it’s about matching the card’s strengths to where you actually spend your money.

Start by tracking your monthly expenses across categories: groceries, online shopping, dining, fuel, and utilities. Most people find that 60–70% of their spending falls into just two or three categories. Pick a card that rewards those categories most generously.

Next, look at annual fees versus expected cashback earnings. A card with a ₹999 annual fee makes sense only if your monthly cashback consistently exceeds ₹83. If you’re spending ₹20,000 online every month and getting 5% back, that’s ₹1,000 in cashback — well worth it.

Also pay attention to monthly caps. A card offering 5% online cashback capped at ₹500/month is meaningfully different from one capped at ₹5,000/month. The cap determines your real maximum savings.

💡 Pro Tips to Maximise Your Cashback

Use the right card for the right purchase. Serious cashback maximisers hold two cards — one for online shopping and one for offline/dining. This isn’t complicated; it just takes a minute to decide which card to pull out.
Check for spending milestones. Many cards waive the annual fee if you hit a yearly spend threshold. Consolidating more of your expenses onto one card can easily unlock this waiver.
Always pay the full outstanding amount. Credit card interest rates in India range from 28% to 42% annually. One missed payment can wipe out months of cashback savings in a single billing cycle.
Read the exclusions carefully. Most cards don’t offer cashback on fuel, gold, EMIs, rent, or insurance payments. Factor this in before choosing.
Combine with bank offers. HDFC and Axis Bank regularly run additional 10–20% off promotions on top of your regular cashback during festive seasons. Stack them for maximum value.

Common Myths About Cashback Cards — Busted

Myth 1: More cards = more cashback. Not necessarily. Managing too many cards increases the risk of missed payments, which damages your credit score and costs you money in interest. Two well-chosen cards beat five poorly managed ones every time.

Myth 2: Reward points are better than cashback. For many people, cashback is actually more valuable. Reward points often have inflated redemption values, complex rules, and short expiry windows. Cashback has none of these problems.

Myth 3: Lifetime-free cards have poor benefits. The Amazon Pay ICICI card proves this wrong. Zero fee and genuinely strong rewards can absolutely coexist.

⚠️ When NOT to Rely on Google Search — Ask a Financial Expert Instead

Google is a fantastic starting point, but it has real limitations when it comes to personal financial decisions. Here’s when you should close the browser and pick up the phone instead:

Your credit score is below 700. Many cards listed here require a CIBIL score of 750+. If yours is lower, a financial advisor or your bank’s relationship manager can guide you toward cards you’ll actually be approved for, and help you build your score systematically.
You’re carrying existing credit card debt. If you have outstanding debt on another card, no amount of cashback makes a new card worth it until that’s resolved. A fee-based financial advisor can help you prioritise debt repayment first.
You’re self-employed with irregular income. Eligibility rules for self-employed applicants vary widely across banks. Online information is often generic. Speaking directly to a bank officer or a credit counsellor will give you far more accurate guidance.
You’re considering a premium card (annual fee above ₹5,000). High-fee cards come with complex benefit structures. A Certified Financial Planner (CFP) can run the actual numbers and tell you whether the card truly makes sense for your lifestyle and income.
You’ve been rejected by multiple banks. Multiple rejections can hurt your credit score further. Stop applying and consult a credit counsellor before your next attempt.

Bottom line: Google can tell you what cards exist. A financial expert can tell you which one is right for you — and help you avoid costly mistakes in the process.

📚 Data Sources & References

The information in this article has been compiled from the following credible financial resources. Rates and terms change — always verify directly with the card issuer before applying.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Credit card terms, cashback rates, and annual fees are subject to change at the discretion of card issuers. Always read the terms and conditions on the bank’s official website before applying. The author and publisher are not liable for any financial decisions made based on this content. Eligibility criteria and approvals are at the sole discretion of the respective banks.

Best Credit Cards for Cashback in India 2025–26: Stop Letting Your Money Go to Waste