What’s the superb variety of bank cards and why? Learn right here to know extra


Most bank cards give attention to sure spending classes, corresponding to journey, procuring, gasoline, meals, and so on. They provide advantages within the type of further reward factors, co-branded advantages, incomes air miles, reductions, and way more. For instance, gasoline bank cards are designed to supply superior returns on gasoline spending, whereas journey bank cards supply advantages, corresponding to free lounge entry, free air miles and extra rewards on travel-related bills.

In keeping with a latest research by Paisabazaar, there are various kinds of bank cards to fulfill the totally different wants of the customers. For instance, the Axis Financial institution Ace bank card is the perfect bank card in India for cashback because it comes with the best common cashback charge of two per cent as per Paisabazaar. Equally, SBI Card Elite comes as a welcome present with unique procuring vouchers from sure premium manufacturers, together with advantages like film tickets, instantaneous reward factors, complimentary lounge visits, Membership Vistara membership, and extra. The HDFC Regalia Credit score Card affords a variety of advantages on eating, journey and procuring.

Then there’s the Flipkart Axis Financial institution bank card, which affords 5 p.c cashback on Flipkart and Myntra. Cardholders also can avail 4 p.c cashback on Swiggy, Uber, PVR and Remedy.match. The cardboard additionally affords limitless cashback of 1.5 p.c on all different spends as effectively. Amongst different advantages, the Amazon Pay ICICI card is nice if you happen to store from Amazon continuously.

The Amazon Pay ICICI card is helpful if you happen to store from Amazon continuously.

“Bank cards like these provide the greatest worth in return as they’re particularly designed that can assist you save on choose spending classes. Through the use of these playing cards for the proper of bills, it can save you a substantial quantity. Nevertheless, notice {that a} card that’s targeted on a specific class might supply solely restricted advantages in different classes,” says Sachin Vasudev, affiliate director and head of credit score cards- Paisabazaar.com.

For instance, a gasoline bank card might be fairly helpful once you use it for gasoline purchases, however it could not offer you cashback or further rewards over different classes. For such circumstances, it’s advisable to have a couple of bank card, much more so if you happen to spend quite a bit on totally different classes, the place every focuses on a distinct kind of spending.

What number of bank cards must you ideally have?

You’ll be able to have as many bank cards as you need. However managing a number of bank cards will be fairly a trouble. If the bank card is just not used neatly, one can find yourself with plenty of debt. Whether or not it’s best to have a number of bank cards or not relies upon solely on the kind of bank card you’ve gotten. For instance, if an individual holds various kinds of bank cards which can be very totally different from one another by way of utilization and advantages, that’s high quality.

For instance, one may use a journey bank card for travel-related bills, and one other to gather rewards on common purchases.

Ideally, one ought to have two to a few bank cards, every with distinctive options; Something greater than that’s not really helpful. The truth is, those that are capable of handle with one bank card ought to stick to at least one. So long as the person is making common funds on all bank card payments, this won’t have an effect on or have an effect on entry to different types of credit score. For these working their very own enterprise, it is smart that one bank card is for private use and the opposite for enterprise use solely.

credit card bill
So long as the person makes common funds on all bank card payments, it won’t have an effect on or have an effect on entry to different varieties of credit score.

Vasudev says: “Whereas selecting your second or third bank card, it’s best to think about the options of present playing cards and attempt to get playing cards with totally different advantages. For instance, if you have already got a bank card that provides cashback throughout classes, getting reward charge or one other card with travel-focused advantages could be a greater possibility.

Not solely this, there are various advantages to having a number of bank cards. In case you have a number of playing cards, you may unfold your spending throughout totally different playing cards based mostly on advantages and rewards construction to get probably the most out of every card.

Having a number of playing cards permits you to make higher use of the curiosity free interval on every card. In case you have playing cards from totally different suppliers, you should have a greater probability of benefiting from their restricted interval affords like on e-commerce platforms. Additionally, those that have a number of bank cards and are nonetheless capable of make all funds on time may have credit score rating to assert. This can even improve their creditworthiness and open them as much as extra credit score alternatives.



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