Entry Level Credit Cards – Low Annual Fees & Great Offers 2024
Entry Level Credit Cards
A credit card serves as a powerful tool for individuals seeking to enhance their credit scores and establish a robust credit profile. Entry level credit cards are particularly beneficial for beginners in the credit card arena, offering a gateway to building a positive credit history and eventually accessing premium credit cards. This essay will explore the significance of entry-level credit cards, focusing on those with low annual fees and enticing offers that cater to diverse financial needs.
1) Amazon Pay ICICI Credit Card
One standout entry level credit card is the Amazon Pay ICICI Credit Card, a co-branded offering from ICICI Bank. Boasting a lifetime free status, this card eliminates the burden of an annual fee. Prime members enjoy a substantial 5 percent cashback on Amazon spending, while non-Prime members still benefit from a commendable 3 percent cashback. Additional perks include 2 percent cashback on transactions through Amazon Pay with partner merchants and a 1 percent cashback on other expenses. Furthermore, a fuel surcharge rebate of 1 percent is available at all petrol pumps. The cashback is seamlessly credited as Amazon Pay balance, creating a convenient reward system for users.
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2) SBI Simply Click Credit Card
The SBI Simply Click Credit Card is another enticing option for entry level credit seekers. While it comes with an annual fee of Rs 499, the cardholder receives a 500 Amazon voucher as a joining bonus, easing the financial commitment. The rewards program is robust, offering 10X reward points on expenditures with online partners such as Bookmyshow, Cleartrip, Swiggy, Apollo 24*7, Domino’s, and Myntra. For other online spends, users can earn 5X reward points, with one reward point equaling 25 paise for spends above Rs. 100. The annual fee is waived after reaching a spending threshold of Rs. 1 lakh, making it a cost-effective choice for responsible spenders.
3) Standard Chartered EaseMyTrip Credit Card
For those inclined towards travel benefits, the Standard Chartered EaseMyTrip Credit Card presents an attractive option. This co-branded travel credit card carries an annual fee of Rs. 350, offering users significant discounts on EaseMyTrip bookings. The discounts include a 20 percent discount or up to Rs. 5,000 per month on domestic hotel bookings and a 20 percent discount or Rs. 10,000 per month on international hotel bookings. Additionally, a 10 percent discount or Rs. 1,000 per month is available for domestic flight bookings. With 2 points per Rs. 100 on other retail spends and an annual fee waiver upon spending Rs. 50,000, this card caters to the travel enthusiasts seeking financial flexibility.
4) Swiggy HDFC Bank Credit Card
Culinary enthusiasts can find value in the Swiggy HDFC Bank Credit Card, a co-branded credit card in the dining category. With an annual fee of Rs. 500, cardholders receive a compelling 3 months’ worth of Swiggy One membership upon activation, a value proposition of Rs. 1,119. The card offers 10 percent cashback on spending on Swiggy, Instasmart, and Dineout, with a limit of Rs. 1,500 per month. Moreover, users can earn 5 percent cashback on online spending up to Rs. 1,500 per month and 1 percent cashback on other spends above Rs. 500.
The cashback can be redeemed as Swiggy Money, and the annual fee is waived on an annual spend of Rs. 2 lakh or more, making it an appealing choice for foodies with varied spending patterns.
5) Indian Oil Axis Bank Credit Card
Motorists seeking fuel benefits can turn to the Indian Oil Axis Bank Credit Card, a fuel-focused credit card with an annual fee of Rs. 500. The card offers a lucrative 100 percent cashback up to Rs. 250 on fuel spends within the first 30 days, providing an immediate financial incentive. Users can accrue 20 reward points for every Rs. 100 spent at Indian Oil pumps, with a value-back of 4 percent. Additionally, 5 reward points are earned for every Rs. 100 spent online, and a 10 percent discount is available on monthly spend of Rs. 100 on BookMyShow.
The annual fee is waived on an annual spend of Rs. 50,000, and a 1 percent fuel surcharge is waived on refueling between Rs. 200 and Rs. 5,000, up to a maximum of Rs. 50 per month, making it a comprehensive choice for those frequently on the road.
Conclusion:
In conclusion, entry level credit cards play a pivotal role in shaping an individual’s credit history and financial habits. The aforementioned cards offer a blend of low annual fees and enticing rewards, catering to diverse consumer preferences. By leveraging these entry-level credit cards responsibly, users can not only boost their credit scores but also enjoy tangible benefits such as cashback, discounts, and rewards. It is crucial for individuals to choose a credit card that aligns with their spending habits and financial goals, ensuring a positive and sustainable credit journey.
