Reward points are one of the strongest incentives for choosing a credit card — when used wisely, they can turn everyday spending into free travel, vouchers, or direct cashback. This guide lists the best credit cards in India (2025) offering the highest reward points, explains how they work, and shares practical tips to maximise value.
How the Cards Were Evaluated
To determine which cards deliver the most value, the following factors were compared:
- Reward point earn rate (points per ₹100 spent or equivalent cashback)
- Point value upon redemption
- Category-based accelerators (like dining or travel)
- Welcome and renewal bonuses
- Annual fees versus overall benefits
- Redemption flexibility (statement credit, travel partners, vouchers, etc.)
Top Picks at a Glance
- SBI Card PRIME – Strong general rewards and flexible redemption.
- HDFC Millennia – Excellent for online shopping and e-commerce spends.
- Axis Bank Atlas / Magnus – Premium travel cards with high-tier benefits.
- ICICI Bank Emeralde and similar premium cards – Luxury perks with steady rewards.
- Flipkart SBI Card and other co-branded options – Exceptional partner-based cashback.
1) SBI Card PRIME – The All-Rounder
Key Features
- Earns around 2 reward points per ₹100 spent on most categories, with accelerated points on select spends.
Why It Stands Out
- Balanced earn rate across categories.
- Flexible redemption options through SBI’s rewards catalogue.
Things to Note
- Point-to-rupee conversion varies based on the redemption method, so check before redeeming.
Best For: Salaried professionals seeking consistent rewards with minimal tracking effort.
2) HDFC Millennia – Best for Online Shoppers
Key Features
- Earns CashPoints on all spends, which can be redeemed for statement credit, travel, or partner vouchers.
- Higher earning rates on Amazon, Flipkart, and other e-commerce portals.
Why It Stands Out
- Excellent for those who shop online regularly.
- Easy redemption through HDFC’s SmartBUY portal.
Things to Note
- Some redemptions offer lower value per point; ensure you pick the right option.
Best For: Millennials and digital-savvy users who prefer cashback-style rewards.
3) Axis Bank Atlas / Magnus – For Frequent Flyers
Key Features
- High reward points for travel spends.
- Complimentary lounge access, concierge services, and milestone bonuses.
Why It Stands Out
- Superior value for frequent travellers who redeem points for flights and hotels.
- Premium-tier perks such as international lounge access and travel insurance.
Things to Note
- High annual fees; only worthwhile if travel benefits are fully utilised.
Best For: Business travellers and high spenders who prefer air miles and luxury travel benefits.
4) ICICI Bank Emeralde and Other Premium Cards – Luxury with Rewards
Key Features
- Generous point-earning structure on premium spends.
- Complimentary golf, travel, and wellness privileges.
Why It Stands Out
- Excellent lifestyle and concierge services for top-tier customers.
- Comprehensive travel and insurance coverage.
Things to Note
- High joining and renewal fees; redemption options may vary by partner.
Best For: High-net-worth individuals and those seeking premium lifestyle benefits.
5) Flipkart SBI Card and Other Co-Branded Options – For Online Loyalists
Key Features
- Exceptional cashback and rewards on Flipkart, Myntra, and other partner platforms.
- Simplified cashback system rather than complex point tracking.
Why It Stands Out
- Up to 7.5% effective cashback on partner sites, one of the highest in India.
- Ideal for users who spend heavily on e-commerce.
Things to Note
- Outside partner platforms, reward rates drop significantly.
Best For: Online shoppers loyal to a specific brand or platform.
Tips to Maximise Reward Points
- Match your spending habits – Pick a card that rewards your main expense category (shopping, travel, fuel, etc.).
- Use bank and merchant offers – Watch for 5x–10x reward campaigns or festive bonuses.
- Redeem through official portals – They often offer better point-to-value conversion.
- Track expiry and limits – Many cards have monthly caps or points that expire after 1–2 years.
- Offset annual fees – Make sure your reward value or milestone bonuses cover the renewal cost.
Balancing Fees and Rewards
A high-reward card can lose its appeal if its annual fee outweighs the benefits. Always calculate:
Total reward value earned – Annual fee = Net benefit.
If you spend less than ₹10–12 lakh a year, a mid-tier rewards or cashback card usually offers better value than a premium travel card.
Stay Safe While Chasing Rewards
During festive seasons, be cautious of fake apps and phishing scams offering “bonus reward points.” Never share OTPs or card details outside official bank channels. Always verify offers directly through your bank’s website or app.
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