Best Secured Credit Cards Of May 2024

To get an Axis Bank Ace Credit Card one has to open an FD of INR 20,000 or more. The credit limit will be 80% of the FD amount. This card gives a 5% cash back on the payment of utility bills through Google Pay, there is no upper limit or lower limit to the cashback. This cashback is also applicable on mobile recharge. There is a 4% cash back again without any cap on Ola, Zomato, or Swiggy and 2% cash back on any other payment that you make with this card.

Features:

• No annual fee if you spend INR 10,000 within 45 days of card issuance.

• No annual fee is waived on an annual spend of more than INR 2 lakh.

• INR 500 cash back on spending INR 10,000 in the first 90 days.

• 5% cashback on bill payments like electricity, gas, DTH, mobile recharges, etc.

• 4% on online food and mobility aggregators including Swiggy, Zomato, and Ola.

• 2% on other expenses.

• No upper limit on cash back

• Four complimentary domestic airport lounge visits at select domestic airports in a year.

• 1% fuel surcharge waiver for all petrol stations across India, on transactions between INR 400 to INR 4,000 to

• the maximum benefit of INR 500.

• 20% off in more than 4,000 partner restaurants across the country.

IDFC Bank’s Wow Credit Card is one of the best cards for people wanting to travel outside India, as it has no forex markup charges for currency conversion and at the same time gives reward points on spending. One has to open a fixed deposit account with a minimum of INR 20,000 linked to this credit card to get a credit limit and to use this card.

Features:

• 4X rewards on every spend.

• Various offers at more than 300 partner merchants.

• 20% discount at more than 1500 partner restaurants.

• Zero Forex markup fee.

• Complimentary roadside assistance.

• Fuel surcharge waiver of 1% at all fuel stations across India.

• Personal Accident Cover of INR 2,00,000.

• Lost Card Liability Cover of INR 25,000.

• Up to 20% discount at partner restaurants.

• Up to 15% discount at partner health and wellness outlets.

• An interest rate of 7.25% is given on the FD for the purpose of getting that card.

• The minimum FD required is INR 10,000.

• 1 reward point = INR 0.25.

SBI SimplySave Credit Card is a credit card designed for offline shopping and covers all aspects of retail shopping. This card has no upper limit for getting reward points, and the most important feature is that the redemption process of reward points is simple to understand, unlike many other cards.

Features:

• No renewal fee if there is an annual spend of INR 1 lakh on the credit card

• On spending INR 2,000 or more in the first 60 days, you get 2,000 bonus reward points. This offer is valid for new cards only and not applicable for upgrades, re-issued, replaced, and renewed cards.

• Bonus Points are credited to the user’s SBI card account within 60 days of the eligible transaction.

• Maximum 2000 points can be availed per SBI card account as a part of this offer.

• 10X reward points on a spend of INR 100 on dining, movies, departmental stores, and grocery spending.

• On any other spend, 1 reward point per INR 100 spent.

• 1 reward point is equal to INR 0.25

• A 1% surcharge on fuel will not be charged on transactions between INR 500 to INR 3,000.

Bank of Baroda in collaboration with HPCL launched the HPCL Bank of Baroda ENERGIE Credit Card to facilitate people looking for rewards for the purchase of fuel. This credit card gives reward points for purchasing oil as well as LPG, as well as other expenses like groceries. The reward points redemption process is automatic as the reward points are credited to the customer’s account automatically reducing the next bill. To get the secured version of this card one will have to open an FD account of a minimum INR 15,000 in BOB.

Features:

• Welcome benefit of 2000 reward points on spends of INR 5000 or more within 60 days of card issuance.

• 10 reward points for every INR 150 spent on utility, grocery, and departmental stores

• 2 Reward Points for every INR 150 spent on other categories

• 24 Reward Points per every INR 150 for fuel purchases at HPCL retail outlets, LPG purchases, and through HP Pay App.

• One lounge per quarter at domestic lounges only for the Primary cardholder

• The value of one reward point is INR .25.

Flipkart Axis Bank Credit Card is one of the most popular cards offered by Axis Bank. This card can be applied for as a secured credit card by applying for an FD with the bank of INR 20,000. This credit card is also offered by the bank for free to a lot of good customers. It gives good discounts and cashback on purchases from various popular brands to the customers.

Features

• No annual fee for spending INR 2,00,000 in a year.

• INR 500 worth of Flipkart vouchers on your first transaction with your Flipkart Axis Bank Credit Card.

• Get 15 months of Gaana plus at a discounted price of INR 399.

• 20% off up to INR 500 on The Phy Life.

• 20% off up to INR 500 on Plum Goodness.

• 15% cashback up to INR 500 on your first transaction on Myntra using a Flipkart Axis Bank credit card.

• 5% cash back on the Flipkart 2GUD marketplace(Flipkart’s local feature that brings popular offline retailers and shopping malls online for its customers in India) and Myntra.

• 4% cashback on preferred merchants including PVR, Swiggy, Uber, cure.fit.

• 1.5% cash back on all other categories.

• Four airport lounge visits in one calendar year in India.

• 1% waiver on all petrol pumps in India between INR 400 and INR 4,000, to the maximum of INR 500 only.

• 20% discount on food from partner restaurants.