Credit Cards with Annual Fees Under ₹500 – Here are the Top 5 You Need to See

Synopsis- This article reviews the best 5 credit cards in India below ₹500 annual fees. Perfect for beginners and those on a tight wallet, these cards offer solid rewards, cashback, and added benefits, which should show you do not have to spend more to get good credit benefits.

Credit cards in India are becoming increasingly popular for convenience, rewards, and financial management. Credit cards with an annual fee of ₹500 or less are an excellent way for newbies, students, or budget-conscious users to get started in the credit card space without losing value. These cards are still low-cost cards, but they will not leave you deprived of all the benefits of credit cards, like cashback, reward points, fuel waiver, lifestyle privileges, etc. In this article, we look at five of the best low-fee credit cards in India that begin to present users with real value on their everyday spend.

Why opt for a Low Annual Fee Credit Card?

• Perfect for First-Time Users: Low-fee credit cards offer excellent opportunities for first-time users, students, and moderate spenders who are entering the world of credit.
• Easy Access: They generally have simpler eligibility criteria, making it more likely to be approved.
• Good Value with Benefits: These low-fee cards still offer reward points, cash back, and lifestyle benefits, but with minimal fees.
• Build Credit, Fees Waived: If you use these cards responsibly, it will help build a positive credit history, and if you meet the spending threshold, there are many cards that waive the annual fee.

Top 5 Credit Cards with an Annual Fee of less than 500

1. Flipkart Axis Bank credit card:

• Features and Benefits:
  • Cashback with every transaction
  • 7.5% on Myntra spends.
  • 5% on Flipkart and Cleartrip spends.
  • 4% cashback on Cult.fit, PVR, Swiggy, Uber.
  • 1% cashback on other categories.
• Fuel Surcharges Waiver
  • 1% waiver on fuel surcharge up to 500.
• Dining delights
  • It offers 15% up to Rs. 500 at 10,000+ partnered restaurants across India with EasyDiner.

2. SBI SimplyCLICK Credit Card

• Features and Benefits:
  • Amazon Gift cards worth Rs. 500 as a welcome gift (On payment of the first annual Fee)
  • Earn 10X Reward Points on online spends with exclusive partners: Apollo 24×7/BookMyShow/Cleartrip/ Dominos/ IGP/ Myntra/ Netmeds/ Yatra
  • Earn 5X Reward Points on all other online spend
  • 1% waiver on Fuel Surcharges (Transaction value between Rs. 500 to Rs. 3000)

3. HDFC Swiggy Credit Card

• Features and Benefits
  • 10% cashback on Swiggy
  • 5% cashback on online spends on eligible MCCs
  • Swiggy one membership for three months.
  • 4 complementary golf rounds per calendar year.

4. HDFC MoneyBack+ Credit Card

• Features and Benefits
  • 10x cash points on Amazon, Flipkart, Swiggy, Reliance Smart, and BigBasket.
  • 2 cashpoints for Rs 150 spent on others.
  • Rs. 500 gift voucher (on spending 50,000 in a quarter)
  • 10% additional discount on Swiggy Dineout.
  • 1% waiver on fuel surcharges up to Rs. 400 
  • Gift voucher of Rs. 500 every quarter (on spending Rs. 50000)

Also read: Kotak Mahindra Cancels Myntra Credit Card — Here’s What Shoppers Need to Know Before July 10

5. Standard Chartered EaseMyTrip Credit Card

• Features and Benefits:
  • 10x rewards on every Rs. 100 spent for Hotel and Airline.
  • Flat 20% discount on hotel booking with EaseMyTrip
  • Flat 10% discount on flight booking with EaseMyTrip.
  • 2 domestic lounge access per year
  • Rs. 125 off on Bus ticket booking (Minimum ticket worth Rs. 500)

Comparison Table:

Tips to Choose the Right Card

• Match Rewards to Spending Patterns: Choose cards that fit your spending habits – online shopping, travel, food delivery, etc.
• Spot Fee Waivers: Get a card that waives annual fees based on achievable spend.
• Choose Cashback Over Complicated Rewards: Cashback is a simple redemption and a straightforward way to save money.
• Watch for hidden fees: Be aware of any foreign transaction fees, late payment fees, and add-on fees.
• Compare Welcome Offers: Look for any sign-up bonuses with instant value.

Conclusion 

Entry-level credit cards below ₹500 represent great value when suited to your lifestyle and spending. They are a simple and inexpensive way to build credit, earn rewards, and enjoy great little perks such as cashback and discounts. Make your selection carefully and spend responsibly – these cards demonstrate that you don’t have to pay more to have great credit benefits.

Written by N G Sai Rohith

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