5 best debit cards designed to fetch you the travel benefits
International Travel Debit Card: Just like credit cards, choosing the right debit card can significantly enhance your travel and lifestyle experiences, allowing you to enjoy a world of offers and benefits.
India’s vibrant digital payments ecosystem has become a global talking point. Government data suggests that the digital transaction volume in the country increased from Rs 2,071 crore in FY2017-18 to Rs 13,462 crore in FY2022-23 at a CAGR of 45 percent. With so many options to choose from, it is often difficult for a consumer to decide on the best payment tool.
The choice becomes trickier when comparing a credit card with a debit card. For most consumers, the key difference between the two is offers and benefits — while credit cards are loaded with exciting discounts, rewards and cashback deals, debit cards are no-frills products. However, that does not hold completely true as the market today has multiple debit card options that combine convenience and security with world-class benefits. Here’s a list of five debit cards to elevate your travel and luxury experience this season. Mastercard compiled the best debit cards taking into consideration travel benefits, hotel memberships, complimentary lounge access, discounts on dining, and low forex markup fee.
2/8
YES Private Debit Card has several features and privileges across an array of categories like travel, wellness, lifestyle for ultra-high net-worth individuals (UHNIs) who include affluent professionals and entrepreneurs. The most prominent features are 24X7 lifestyle concierge for managing extraordinary experiences, including private jet, airport limo, chauffeured car cervices, e-gift vouchers from Oberoi Hotels and Resorts which can be availed during booking, dining and spa experiences at select properties, as well as unlimited access to domestic and international airport lounges. [Image: YES Bank]
3/8
The SBM World Elite Metal Debit Card offers exclusive privileges tailored for ultra-affluent cardholders such as complimentary Taj Epicure membership, unlimited airport lounge access, privileged access to exclusive premium hotels, resorts and Michelin star restaurants. The primary cardholder will save $1,000 on private jet booking. This debit card has nil charges for cross-country markup. [Image: SBM Bank]
4/8
ICICI Mastercard World Debit Card allows cardholders to avail a variety of special discounts and rewards from the partner merchants. The cardholder gets a maximum of two free access per quarter at the selected domestic and international airport lounges. The users also get complimentary personal accident insurance cover and air accident cover. The card comes with the added security of zero liability, a feature which protects cardholders against unauthorised purchase or loss, theft or misplacement of the card. [Image: ICICI Bank]
The Canara Bank Mastercard World NRI Platina Debit Card is designed for the bank’s NRE/NRO customers. The cardholder gets a maximum of two free access per quarter at the selected domestic and international airport lounges. It also offers complementary air accident insurance cover of Rs 8 lakh and baggage insurance. There is a point-of-sale (POS) transaction limit of up to Rs 5 lakh at merchant outlets and cash withdrawal limit of up to Rs 1 lakh per day. [Image: Canara Bank]
6/8
The IndusInd World Exclusive Debit Card caters to the emerging affluent segment. The debit card offers two free access per quarter at the selected domestic and international airport lounges. The bank has partnered with BookMyshow and offers movie and event tickets in buy one, get one free scheme. The cardholder gets 3 free tickets in a quarter worth up to Rs 500 each. This debit card has nil charges for cross-country markup.
7/8
Use your debit cards with travel, shopping and dining benefits smartly. Have a disciplined approach to your spending with debit cards as it’s linked to your bank savings account. Overspending can affect your monthly budget and savings. Your loan EMIs linked with savings account can bounce due to insufficient balance in the account. This can affect your credit score. Also explore: Free credit report and regular credit score updates on the Moneycontrol app and website.
8/8
Just like credit cards, choosing the right debit card can significantly enhance your travel and lifestyle experiences, allowing you to enjoy a world of offers and benefits. To shortlist the best debit cards, Mastercard compared the features of all debit cards offering travel benefits, hotel memberships, complimentary lounge access, discounts on dining, and low forex markup fee. All debit card information is sourced and updated as of June 20, 2024.
Hiral Thanawala is a personal finance journalist with over 10 years of reporting experience. Based in Mumbai, he covers financial planning, banking and fintech segments from personal finance team for Moneycontrol.
