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Are you a big spender using a credit card? Well, here are the best cards with milestone benefits

Affluent spenders using credit cards must have a disciplined approach. They must avoid overspending to achieve milestones, bonus rewards, and waiver on annual renewal fees.

June 21, 2022 / 09:31 AM IST
Milestone benefits on credit cards are additional privileges you can avail of on crossing a certain spending threshold. These benefits may vary across categories such as shopping, travel, entertainment and so on. Milestone privileges are especially helpful for big spenders who can easily breach preset spending thresholds. Keeping these things in mind, Paisabazaar has compiled a list of best credit cards offering milestone benefits.
RBL Edition Classic Credit Card
Image Source: RBL Bank | RBL Edition Classic Credit Card offers 2000 'Edition Cash' on spending Rs 2 lakh every year. One edition cash is equivalent to one rupee. The users can use Edition Cash as normal cash to place orders on Zomato. Other benefits are 500 Edition Cash offered as a welcome benefit. Five Edition Cash on every Rs 100 spent on dining or food purchases via Zomato. The annual fee is Rs 500 on this credit card.
HDFC Bank Diners card
Image Source: HDFC Bank | HDFC Diners Club Privilege offers live one-month membership or BookMyShow or Tata CLIQ or Ola Cabs vouchers worth Rs 500 every month on spending Rs 40,000. The annual membership fee is waived off on spending Rs 5 lakh in a year. Yearly memberships of Amazon Prime, Zomato Pro, Times Prime, etc are complimentary to users. The annual fee is Rs 2,500 on this credit card.
SBI Prime Card
Image Source: SBI Card | SBI Card Prime offers e-gift vouchers worth Rs 7,000 from or Pantaloons on reaching a milestone of Rs 5 Lakh. Users also get Pizza Hut e-voucher worth Rs 1,000 on spending Rs 50,000 in a calendar quarter. The annual membership fee is waived off if you spend at least Rs 3 lakh in a year. It offers complimentary airport lounge access: eight in India and four overseas. This credit card's annual fee is Rs 2,999.
Axis Bank_vistata_e
Image Source: Axis Bank | Axis Vistara Signature Credit Card offers 3,000 bonus cash value points on spends worth Rs 75,000 in the first 90 days of card issuance. It also offers bonus club Vistara points and complimentary premium economy tickets on various spending milestones in a year. This includes up to four premium economy tickets in a year i.e. one premium ticket on each milestone spending of Rs 1.5 lakh, Rs 3 lakh, Rs 4.5 lakh and Rs 9 lakh. The annual fee is Rs 3,000 on this card.
SBI Card Elite_e
Image Source: SBI Card | SBI Elite Credit Card offers up to 50,000 bonus reward points equivalent to Rs 12,500 every year. The users get to earn 10,000 bonus reward points on achieving annual spending of Rs 3 lakh to Rs 4 lakh. If the user spends Rs 5 lakh to Rs 8 lakh in a year, she gets 15,000 bonus reward points. The annual membership fee is waived off on spending Rs 10 lakh or more in a year. The value of one reward point is Rs 0.25. It also offers complimentary Trident Privilege Red Tier membership. It allows complimentary domestic lounge access twice every quarter and other benefits. The card comes with an annual fee of Rs 4,999.
Affluent spenders using credit cards must have a disciplined approach. It is critical that they use such cards and benefits they offer smartly and responsibly. Since credit cards offer a significant interest-free period, there may be a tendency to overspend in multiple categories including shopping, travelling and dining. Avoid overspending to achieve your milestones, bonus rewards and waiver on annual renewal fees. If you spend more than you can repay and cannot pay your credit card bills on time, you will incur hefty interest charges ranging from 28 to 49 percent per annum, along with late payment fees.
Paisabazaar has compiled the list of best credit cards with milestone benefits through rewards and benefits across multiple categories. All credit card information has been sourced and updated as of May 11, 2022. The credit cards in the list are arranged in the ascending order of annual fees.
Hiral Thanawala
Hiral Thanawala is a personal finance journalist with 9 years of reporting experience. Based in Mumbai, he covers financial planning, banking and fintech segments from personal finance team for Moneycontrol.
first published: Jun 21, 2022 09:31 am