Best Credit Card Beginners 2024

Hello friends, in this video we’ll discuss about such credit cards which are best for beginners. We’re going to discuss about 4 cards in this video, all of which can be considered as best if you wish to get a credit card for the first time. And even if you already have a credit card, even then these 4 cards – well, there’re credit cards which have very complicated features features like with 6x reward points, 10x reward points, 20x reward points – which is a system that’s hard to understand – I

don’t get why the banks don’t directly say that 2% cashback or 5% cashback is given they don’t use the simple terms. There’re some credit cards that offers 1%cashback on flight bookings, 1% on groceries, and say if you spend this much then you’ll get this much cashback – so, these credit cards that has such complicated T&C are not for beginners at all. So, we’ll discuss 4 such credit cards in this video which are good credit cards anyway and if someone's willing to get a credit card for the firs

t time, then what'd they want? Well, they’d probably want to get a credit card and learn about the features in simple terms and know which are these cards. So, we’ll discuss all these 4 cards one by one, and at the end, we’ll conclude with which of these 4 is the most impressive. So, the first credit card is BPCL SBI’s Octane credit card. This is a really great credit card. Honestly, this is such a credit card that no matter who gets it, no feature will be wasted. First one is of fuel, i.e., it’

ll help saving on petrol or so. Secondly, it’ll help saving on groceries too. And is there any family left where fuel and groceries are not needed? Obviously, all the families need them. So, this credit card is such that you can avail all its benefits. So, let’s look at its features. It’s obvious from its name that SBI has tied-up with BPCL, so you have to buy petrol or diesel from Bharat Petroleum, only then you can avail the cashback. If you go to IOC, Indian Oil, or Hindustan Petroleum, then

you won’t get any cashback as it’s BPCL with whom SBI has tied up. Okay, so the fee of this credit card is 1499 rupees, but not to worry, because as soon as you get receive the credit card and get it activated – you do have to pay 1499 once, but as soon as it gets activated, the welcome benefit that you’ll get, as SBI states, will be a 1500-rupee cashback upon activation. So, in a way, this card becomes free. The annual fee is also 1499 rupees, but we’ll see how can we get a waiver on that too.

So, I get this credit card. The bank clearly mentions that 7.25% cashback can be availed on any purchase from BPCL. I won’t mention this as just 7.25%, rather I’d break it down as 6.25 plus 1%, because 1% is the fuel surcharge waiver, which every bank provides. So, you don’t need to count this, just consider that you’re getting 6.25% cashback. Now, 6.25% cashback is, by no means, less; it means if I buy fuel worth 100 rupees then I’ll get 6.25 rupees cashback. I’ve not seen any fuel card better

than this. Any other card usually gives 2.5%, 3%, or 3.5% maximum, but no other card provides 6.25% cashback on purchasing petrol. That’s why, it’s the best fuel credit card according to me. The limitation of this is that I can only avail maximum of 625 rupees as cashback per month. Now, this is not a small amount either. When I’ll purchase fuel worth 10k in a month, only then I can avail the maximum cashback amount of 625 rupees. Now, if you think that your fuel expenses are more than 10k, then

there’s nothing to do but to take 2 such credit cards. You can take one in your name and the another in your wife’s name or in your kid’s or parent’s name. Get another credit card in someone else’s name, if possible, but there’s no other credit card that is this impressive and gives cashback more than this one. So, you’re getting 6.25% cashback and 1% fuel surcharge waiver. Apart from this, there’s an app of Bharat Petroleum – I’ve put its screenshot here – if you order anything from this app,

like gas cylinder, lubricants etc., then here too you’ll get 6.25% cashback, if you spend anything on this app. But it’s T&C is that you can only avail 125 rupees as cashback per month. Let’s move on to the next one. It says that if you spend on dining, departmental stores, movies, and groceries – if you spend anything on any of these 4, then you’ll get flat 2.5% cashback. So, you’re getting 6.25% cashback on fuel, 6.25% on spending on Bharat app, and 2.5% cashback on such things that we surely

spend on. We do shop from departmental stores, we also watch movies, and groceries are obviously necessary, so we’re getting 2.5% cashback on that too, and 2.5% cashback is not a small amount, though according to the T&C, I can only avail up to 1875 rupees cashback per month. Now, to calculate 2.5%, when you spend 75k in a month, then 2.5% of that will be 1875 rupees. Again, the limitations aren’t insignificant – one doesn’t spend 75k on groceries or on movies. So, don’t worry about the limit, i

t’s quite high. I am stating all the T&C as I go. Apart from these, if you spend on retail, you’ll get 0.25% cashback. Other than that, you get domestic airport lounge access for 4 times a year. So, you can clearly see that we’re getting all kinds of features in this credit card. And let’s see another thing at the end – well, just a second – I think I’ve written incorrectly so, you get airport lounge access and apart from that you also get milestone benefits. It says that if you spend 3 lacs in

a year, then in that case – if your expenditure crosses 3 lacs in a year, then you’ll get a complimentary voucher worth 2000 rupees. You can choose the voucher to be of Aditya Birla or of Bata. Next, you get coverage in case of fraud and if you spend 2 lacs, then the annual fee of 1499 can be waived off. We can easily spend 2 lacs. So, the 1499-rupee joining fee becomes free as upon the card’s arrival, welcome benefit of 1500 is credited. And the 1499 rupees required annually can also be easily

waived off, because it’s not difficult to spend 2 lacs in a year. Okay, moving on... So, these were all the features. So, the fee wes of 1499 rupees and here, a 1500-rupee benefit is given at the beginning; then we can save 625 rupees on petrol; there’s fuel surcharge waiver of 100 rupees; I can save maximum 125 rupees on Bharat Gas app; and I can save 1875 rupees on dining and all these stuffs. Apart from these, I’m also getting airport lounge access, and if I spend 3 lacs in a year, then I’ll

get a 2000-rupee voucher. Altogether, this is a very good credit card. Now, let’s move on to the next credit card. This is ICICI Bank’s Amazon Pay credit card. This says that you’ll get unlimited 5% cashback on shopping from Amazon. Even if you spend 1 crore there, you’ll get 5 lac rupees as cashback; if you spend 100 crores, you’ll get a 5-crore-rupee cashback. By this I mean that there’s no upper limit, like monthly 1000 rupees maximum, or monthly 2000 rupees maximum – this card doesn’t have s

uch limitations. There’s another thing – this is a lifetime-free credit card, so there’re no annual or joining fee, but this is beneficial only if you have the Amazon Prime membership. To get the Amazon Prime membership, you have to pay 1499 a year – it’s 1499 rupees per year. Now, what’s Amazon Prime? I’ve put the screenshot here. If you get the Amazon Prime membership, then you’ll have the OTT platform and you can watch all the latest trending movies there; you’ll also get fast delivery, like

if normally an order takes 4-5 days to be delivered, then for the Prime members it’ll be delivered within 1-2 days. You’ll also get Amazon Music and all that with it. Now, let’s come back. It says that if you buy anything from Amazon – as you have the ICICI bank’s credit card and if you use that to order something from Amazon, then you’ll get unlimited 5% cashback, but it’s applicable only for the Prime members. But if I’m not a Prime member – if I don’t pay 1499 for the Amazon Prime membership,

then if I use this ICICI bank’s credit card for any expenses, then I’ll get unlimited 3% cashback. So, that's that you should spend the 1499 rupees – because, you see, if someone doesn’t have this card, even then they usually buy the Amazon Prime membership, right? So, you should spend the 1499 on this membership, only then you can have the maximum benefit. Okay, so the next feature is that, if I spend anything using the Amazon Pay, then I’ll get 2% cashback. I’ve put the screenshot of Amazon P

ay as well. Just like PhonePe or Google Pay, Amazon Pay is similar – you can pay someone with QR scanner, you can send gift cards; you can recharge mobile, pay electricity bill etc., quite similar to Paytm and all that. Spending on these will get me 2% cashback. Now, notice this – when you open Amazon Pay, you’ll see ‘Flight’ and ‘Hotel’ down here. Technically, I should get 2% cashback on flight and hotel booking as I’m paying from Amazon Pay; but ICICI Bank says that, on flight and hotel bookin

gs bookings they’ll provide not 2%, but 5% cashback. So, this is a great thing. Moving on... next it says that on any other expenses you’ll get 1% cashback. Another thing is that if you use Amazon credit card to make EMI for any product or suppose you’ve paid the full amount and then make the EMI, then no cashback will be given – be it 5%, 2%, or eligible for anyone, no cashback will be provided. Other than that, if you buy any precious metals like gold or silver from Amazon, there’ll the no cas

hback in that case as well. Purchasing petrol may seem like the other expenses and this eligible for 1% cashback, but there’s actually no cashback applicable for that too. So, you’ve to keep these in mind. Next, let’s come to the third card, the Axis Bank Flipkart credit card. As we saw in case of ICICI’s Amazon card, we were getting flat 5% on shopping from Amazon, similarly – let’s see the fees first – the fee of it is 499 rupees – now it says that – the other one was tied up with ICICI, this

one has tie-up with Axis Bank. This Axis Bank credit card says that if you spend anything on Flipkart, you’ll get an unlimited 5% discount. In case of ICICI one, if you’re a Prime member and shop anything from Amazon, then you’d get 5% unlimited cashback, and the Axis one says that if you spend anything on Flipkart using the credit card, then you’ll get 5% unlimited cashback. Earlier, this offer was available for both Flipkart and Myntra, but they’ve now broken off with Myntra, so you can only a

vail the 5% cashback on Flipkart. Apart from that, they’ve some partner brands, such as, Cleartrip, Cult.fit, PVR, Swiggy, Tata Play, and Uber. It says that if purchase from any of these then you’ll get 4% cashback. Spending anywhere else would earn you 1.5% cashback. Now, notice another thing – I’ve put screenshots here – when you open Flipkart, you’ll see a section for flight and hotel. Here, you can book your flights to travel. There’s an app called Flipkart Health, from where you can order m

edicines etc. Flipkart says that if you book flights or hotels, or buy medicine from Flipkart, then you can surely forget about the 5% cashback as not even a penny would be given as a cashback. But a good thing about ICICI’s Amazon card is that it provides 5% cashback on flight and hotel booking from Amazon. So, this is one difference. Secondly, I’d say that ICICI’s Amazon card is better than Axis’s Flipkart card. Why? Let me explain. Firstly, the Flipkart one doesn’t provide any cashback on fli

ght and hotel booking, but this one gives 5% cashback. Secondly, write down three things – put Amazon on one side, Flipkart on another, and Myntra on another, and put some other random shopping app here. Flipkart is million times better than Flipkart, and Amazon is million times better than Amazon. You can see for yourself, the products that are on Flipkart, are already available in Amazon. And there’re countless products available on Amazon which can’t be found on Flipkart or Myntra. So, it’s a

clear winner. So, if I get the ICICI’s Amazon card, then I’ll get access to almost all kinds of products. I’ve myself seen so many things – take this microphone for example, or anything else that you can consider, which can easily be found in Amazon, but not on Flipkart. Maybe the mic is available – I’ve taken the wrong example – but it’s true for other stuff as you may have personal experience too. That’s why, I always consider Amazon one as the better one. Rest is your choice, as you know whe

re your most of the expenses are made. Apart from that, you won’t get cashback on these things as well with the Flipkart one, like spending on fuel, gift cards – if you put 5k in Paytm wallet, then you won’t get any cashback, or suppose I recharge Flipkart wallet with the credit card, even then no cashback will be given. Similarly, on EMIs there’ll be no cashback. I’ve already told you about the wallet loading. There’ll the no cashback on jewellery shopping. If you pay the outstanding balance of

any ongoing loan with credit card, then you’ll not get any cashback. There won’t be cashback on cards’ fees; on rent payment or insurances, like paying premium of health insurance won’t come with cashbacks; utilities like paying water bill, electricity bill etc., there won’t be any cashback on those as well. On educational services, such as online courses, stationaries etc. there won’t the any cashback. I’ve put the – MCC codes here, you can take a screenshot of it – there won’t be any cashback

on these from Axis’s Flipkart credit card. There’s a welcome benefit you’d get with this Flipkart credit card. It says that you’d get voucher worth 600 rupees, which used to be of 1100 rupees earlier 500 for Flipkart, 500 for Myntra and 100 for Swiggy. Since they’ve broken off with Myntra, so it’s become 600 rupees. You’ve to make any payment within first 30 days, then you’ll get a 500-rupee voucher for Flipkart and a 100-rupee voucher for Swiggy. So, you can use these. We’ve already been throu

gh with its fee, which is 500 rupees a year, and by spending 3.5 lacs in a year, you can waive off these 500 rupees. Along with this, you get 4 complimentary lounge access which wasn’t available with the ICICI one. You can take a screenshot of this chart. There’re also fuel surcharge waiver and dining benefits. The last one is SBI’s Cashback credit card. Let’s get one thing cleared – we’ve seen ICICI’s Amazon credit card, then we saw Axis Bank’s Flipkart credit card. Now, understand this – this

one was offering 5% cashback on Amazon, and this one offering 5% cashback on Flipkart. And both of these are offering unlimited cashback. Now, to challenge these 2, SBI has entered the arena. So, what SBI did is that they introduced the Cashback credit card. It too offers 5% cashback. Now, if you shop from Amazon or from Flipkart, or shop from anywhere else online from any random shop, it’ll provide you 5% discount. So, SBI solved a lot of problems. It’s offering flat 5% cashback no matter where

you spend online. That is great, because I don’t have to depend on this one or that one. But it has a T&C that on the 5% cashback given by SBI, but there’s capping that you can only avail 5000 rupees maximum as cashback. Now, how can I avail 5k-rupee cashback? In a year – sorry, in a month, when you spend 1lac rupees, only then I’d avail it’s 5% or 5k rupees as cashback. But how many people in India are spending 1 lac in a month with their credit cards? So, it’s not a small amount. You might th

ink that the capping has been put on 5k only, but it’s not any less – you can easily – well, spending 1 lac normally and spending 1 lac from credit card has a lot of difference. So, you can easily opt for this card as this is better than both Amazon and Flipkart credit cards. The fee of it is 999 rupees, while ICICI one was free and Flipkart one costs 500. So, keep this comparison in mind. Now, earlier it used to give 1% cashback on utility bills, but it's been discontinued. Now, you won’t get c

ashback on these items, such as, jewellery, stationaries and school supplies don’t come with cashbacks; there’s no cashback on utility bill payment as I told you earlier; there’s no cashback on insurance; similarly, on the gift and novelty shops – which are the antique shops, like if you’re going to Jaipur, for example, then shops that sells Jaipur’s antique products, then you won’t get cashback on those too. There’s also quasi cash, which is something bought with cash and can be converted into

cash again. So, there’ll be no cashback on such products. There’ll be no cashback on railway expenses; similarly, on rental payment, fuel spends, recharging wallet, or EMIs, there’ll the no cashback. So, these were all. Their used to be airport lounge access too, but SBI has discontinued it. The annual fee can be waived off if you spend 2 lacs in a year and you’ll get fuel surcharge waiver of 1%. So, to conclude, the Amazon one is a great credit card, and the Flipkart one is good as well. But SB

I’s Cashback credit card is better than these 2. And if your expenses are more than 1 lac rupees on Amazon or Flipkart, then you can compare and find out where you spend more. And we discussed the BPCL credit card of SBI, that’s also a great card. So, all the 4 cards are great and I’ll put application link for all the 4 in the description box below, and you can judge and choose the one that’s best for you. I wish to make another request to you that we’ve got another channel called Focus Path I’d

like to request you that please subscribe to this channel too, as we upload banking updates in here as well. So, see you on the next video. For now, this is the end of the video. Thanks for listening and thank you all.