Best Cashback Credit Cards
5 cards
Earn cash back on everyday purchases. Best for those who prefer straightforward rewards without tracking points.
₹999 (Waived on ₹2L spend)
5% Flat Cashback
Pros
- Direct statement credit — no point conversion needed
- Works across Amazon, Flipkart, Swiggy, and 100+ online merchants
Cons
- 5% online cashback capped at ₹2,000/cycle; total cap across categories: ₹4,000/cycle (reduced from ₹5,000 in April 2026)
- Government, rent, wallet load, utility, toll, and digital gaming payments excluded
₹1,000 (Waived on ₹1L spend)
5% on partner brands
Pros
- 1% cashback on all offline spends
- Low ₹1L annual spend threshold for fee waiver
Cons
- Lounge access requires a massive ₹1 Lakh spend in a calendar quarter
- 5% cashback capped at ₹1,000 per billing cycle
₹1,000 (Waived on ₹4L spend)
Up to 7% Tiered
Pros
- Up to 7% cashback on high-volume online spends
- Base 0.75% cashback on offline and travel spends
Cons
- Very high ₹4L spend requirement for annual fee waiver
- Complex tiered structure (requires spending ₹40K+ to unlock 7%)
₹1,000 (Waived on ₹2L spend; joining fee waived on ₹75K in first 90 days)
10% on Swiggy, 5% Online
Pros
- 10% cashback on Swiggy app spends — food ordering, Instamart, and Dineout (min ₹249/txn, capped ₹1,500/month)
- 5% cashback on select online categories: apparel, electronics, pharmacies, cabs, travel, entertainment, Nykaa, Cleartrip, etc. (min ₹100, capped ₹1,500/month)
Cons
- 1% cashback on non-category spends capped at just ₹1,000/month
- 10% Swiggy cashback requires minimum ₹249 per order
₹500 (Waived on ₹1.5L spend)
5% on Swiggy + Online
Pros
- 5% cashback on Swiggy (food, Instamart, Dineout) + 50+ online merchants including Amazon, Flipkart, Myntra, Nykaa, Cleartrip — combined cap of ₹1,500/month (min ₹249/txn)
- Complimentary 12-month Swiggy One membership on activation (worth more than the ₹500 fee)
Cons
- No 10% Swiggy cashback — only the BLCK variant gets that rate
- 1% cashback on non-category spends capped at ₹1,000/month
How to choose a cashback credit card
Cashback cards return a percentage of every spend back to you as direct statement credit or reward points worth ₹1 each. In India, the best cashback rates apply to specific categories — online shopping, food delivery, utility bills — rather than every transaction. Pick wisely and a ₹999 fee can pay for itself in a single month of normal spending.
What to look for
Headline rate vs effective rate. A card that advertises 5% may cap that to ₹1,000/month (e.g. HDFC Millennia), dropping the real return to under 2% on big spenders. Always read the monthly cap, not just the marketing rate.
Where the cashback applies. Most Indian cashback cards exclude rent, fuel, wallet loads, utility bills, and EMI conversions. If your big spends are in these categories, a flat-rate card like Axis ACE (1.5% uncapped) often beats a high-rate-with-exclusions card.
Cashback credit mechanic. Direct statement credit (SBI Cashback) is the cleanest. Reward points that need manual redemption (HDFC CashPoints, 1 CP = ₹1 with a ₹50 fee) introduce friction and forgotten balances.
Annual fee waiver threshold. A ₹1,000 fee waived on ₹2L spend is effectively zero if you cross that, and ₹1,000 of tax if you don't. Match the threshold to your realistic annual card spend.
Who should get one
Get a cashback card if your online shopping (Amazon, Flipkart, food delivery) is your biggest spend category and you can hit the fee-waiver threshold. SBI Cashback or HDFC Millennia work for most people; Axis ACE is the simpler "everything 1.5%" pick.
Skip cashback cards if your biggest spends are rent, fuel, education fees, or utility bills — most cards exclude these. A flat-rate or fuel-specific card is a better fit. Heavy international travellers should also skip; cashback cards rarely have low forex markup.