Unlocking High Returns: A Guide to Credit Cards Offering 5% or More Cashback in India

 Here are some credit cards known for offering 5% or higher cashback in India

1. Cashback SBI Card:

   • Offer: 5% cashback on all online spends (without merchant restrictions). 1% on offline spends.
   • Cap: Cashback (online and offline combined) is typically capped at ₹5,000 per statement cycle.
   • Fees: Usually has a joining/annual fee of around ₹999 + GST, which might be waived on achieving a certain annual spending milestone (e.g., ₹2 lakhs).

2. HDFC Millennia Credit Card:

   • Offer: 5% cashback (in the form of CashPoints, where 1 CashPoint = ₹1) on select popular merchants like Amazon, Flipkart, Myntra, Swiggy, Zomato, BookMyShow, Uber, etc. 1% cashback on other spends (excluding fuel, wallet loads, EMI).
   • Cap: There's usually a monthly cap on the CashPoints earned in both the 5% and 1% categories (e.g., around 1000-2000 CashPoints per statement cycle).
   • Fees: Typically has a joining/annual fee of around ₹1,000 + GST, often waived on annual spends of ₹1 lakh.

3. Flipkart Axis Bank Credit Card:

   • Offer: 5% unlimited cashback on Flipkart. 4% on preferred merchants (e.g., Swiggy, PVR, Uber, Cure.fit, Cleartrip). 1.5% on all other eligible spends.
   • Fees: Usually has a joining/annual fee of around ₹500 + GST.

4. Amazon Pay ICICI Bank Credit Card:

   • Offer: 5% cashback on Amazon.in for Amazon Prime members. 3% for non-Prime members. 2% on payments made via Amazon Pay on partner merchants. 1% on all other spends.
   • Fees: This card is typically offered as a lifetime free card (no joining or annual fees).

5. Swiggy HDFC Bank Credit Card:

   • Offer: 10% cashback on Swiggy spends (including food, Instamart, Dineout, and Genie). 5% cashback on online spends with partner merchants. 1% on other categories.
   • Cap: Cashback is usually capped per statement cycle for different categories.
   • Fees: Generally has a joining/annual fee of around ₹500 + GST, with a renewal fee waiver on spending ₹2 lakhs in a year.

6. Axis Bank ACE Credit Card:

   • Offer: 5% cashback on bill payments (electricity, internet, gas) and DTH/mobile recharges via Google Pay. 4% on Swiggy, Zomato, and Ola. 1.5% or 2% on other spends (the base rate has seen revisions, so current terms should be checked).
   • Cap: Cashback on specific categories might be capped monthly.
   • Fees: Typically has a joining/annual fee of around ₹499 + GST.

7. HSBC Live+ Credit Card (formerly HSBC Cashback Credit Card):

   • Offer: 10% accelerated cashback on dining, food delivery, and grocery spends. 1.5% unlimited cashback on most other eligible spends.
   • Cap: The 10% cashback is usually capped at ₹1,000 per statement cycle.
   • Fees: Generally has a joining/annual fee of around ₹999 + GST, often waived on annual spends of ₹2 lakhs.

8. Standard Chartered Super Value Titanium Credit Card:

   • Offer: 5% cashback on fuel spends, telephone bills (for transactions above a certain amount like ₹750), and utility bill payments.
   • Cap: Cashback in each 5% category is typically capped monthly (e.g., ₹200 for fuel, ₹100 per utility category).
   • Fees: Usually has an annual fee of around ₹750 + GST.

9. Tata Neu Infinity HDFC Bank Credit Card:

   • Offer: 5% back as NeuCoins (1 NeuCoin = ₹1) on spends on Tata Neu app and eligible Tata brands (like BigBasket, Croma, Tata CLiQ) for NeuPass members. 1.5% back as NeuCoins on other non-Tata spends and on Tata brands for non-NeuPass members.
   • Cap: Accelerated NeuCoins might have a category-wise monthly cap.
   • Fees: Typically has a joining/annual fee of around ₹1,499 + GST.

Important Factors for "Effective" 5% Cashback:

• Targeted Spending: High cashback rates are almost always tied to specific categories or merchants. Your spending habits must align with these to maximize benefits.
• Cashback Caps: Be aware of monthly or per-statement limits on how much cashback you can earn at the higher rates.
• Exclusions: Most cards exclude fuel, wallet loading, rent payments, insurance premiums, and EMI transactions from cashback eligibility.
• Reward Redemption: Understand how cashback is credited (statement credit, points, partner currency) and if there are any redemption fees or conditions.
• Annual Fees: Factor in the annual fee when calculating net savings, unless it's waived.
• Terms & Conditions: Credit card issuers can change benefits, partner merchants, and fee structures. It's always a good idea to check the latest terms and conditions directly with the bank. Search results indicated some banks like HDFC Bank and Axis Bank were revising terms for some cards around June 2025.

To achieve an overall effective rate of 5% or more across most of your spending with a single card is challenging in India. It usually involves strategically using a card that heavily rewards your most frequent spending categories while being mindful of its limitations.