Starter Credit Cards:
A credit card can help manage your money. It is useful if you use it carefully. You can apply for a credit card after you start earning a steady income. A credit card helps build your credit score over time. If you are a beginner, start with an entry-level credit card. These cards have simple features and are easier to get.
To apply for most credit cards, you must earn between ₹15,000 and ₹30,000 per month. This income can come from a job or self-employment. Your income level also decides what type of card you can get. Banks offer better cards to people with higher income.
Entry-level credit cards usually have a low credit limit. The credit limit depends on your income, age, and other personal details. If you use your card wisely and pay on time, your credit limit may increase later.
A good entry-level card should have a low or no joining fee. It should also have a low or no annual fee. Choose cards that give rewards or cashback on daily expenses. Look for benefits on grocery shopping, fuel, and utility bills. A card with a simple approval process is best for first-time users. Some banks also give secured credit cards. These cards are linked to a fixed deposit (FD). Your credit limit is equal to the amount in the FD. This helps prevent overspending.
Now let’s look at four popular entry-level credit cards and what they offer:
This card offers 5% cashback on bill payments through Google Pay. You also get 4% cashback on Swiggy, Zomato, and Ola. All other spending gives 1.5% cashback. You get a 1% fuel surcharge waiver on fuel bills between ₹400 and ₹4000. The joining and annual fee is ₹499. The age limit is 21 to 60 years.
This card is great for shopping on Amazon. It gives 5% cashback to Amazon Prime users. Non-Prime users get 3% cashback. You also get 2% cashback at Amazon Pay partner stores. All other purchases earn 1% cashback. There is no joining or annual fee. You must be at least 21 years old. Salaried people must earn ₹20,000 per month. Self-employed people must earn ₹3.6 lakh per year.
You get a ₹500 Amazon gift card after paying the joining fee. The fee is ₹499 plus taxes. This card gives 10X reward points on online shopping with select partners like Myntra, Yatra, and Apollo. You also earn 5X reward points on other online purchases. Fuel surcharge is waived for payments between ₹500 and ₹3000.
You get 10X cash points on Amazon, Flipkart, Swiggy, BigBasket, and Reliance Smart. Other spending earns 2 points per ₹150. You get a ₹500 voucher if you spend ₹50,000 in one quarter. The joining fee is ₹500. Salaried users must earn ₹20,000 per month. Self-employed users must earn at least ₹6 lakh per year.
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