Best Premium Credit Cards in India for 2024

Designed for high-net-worth individuals, premium credit cards offer luxurious benefits that enhance travel, dining, shopping, and entertainment experiences. Unlike regular credit cards that focus on cashback, premium cards provide exclusive perks like high spending limits, unlimited airport lounge access, and complimentary spa sessions. While they come with high joining and annual fees, the value they offer makes them worthwhile. In this article, we’ll explore the best premium credit cards in India to help you choose the right one.

Best Premium Credit Cards in India

Last updated 4th November, 2024.

#1 HDFC Bank Diners Club Black Credit Card

The HDFC Bank Diners Club Black Credit Card offers a range of benefits across travel, dining, and golf. It offers the following features and benefits to the users.

• Gives a welcome bonus of a complimentary yearly subscription to Forbes, Club Mahindra, Times Prime, MakeMyTrip Black, Amazon Prime and Swiggy One on spending Rs 1.5 lakhs in the first 90 days. These memberships will be renewed if the cardholder spends Rs 8 lakhs per annum.
• Unlimited airport lounge access in India and abroad.
• Earns 2x rewards on weekend dining, 5x on Rs 150 spent on retail, and 10x reward points for spending on SmartBuy.
• Get a 25% discount on all restaurant bill payments done through Swiggy Dineout.
• Other benefits include air accident insurance of Rs 2 crore, travel insurance of Rs 55,000, emergency overseas hospitalisation of Rs 50 lakhs, and credit liability cover of Rs 9 lakhs.
• Get a 1% fuel surcharge waiver at all fuel stations across India.
• The joining fee and annual fee is Rs 10,000. The annual fee will be waived if the expenditure exceeds Rs 5 lakhs.
• Eligibility:
  • Age: Between 21 years and 70 years
  • Income: It should be above Rs 1.75 lakhs per month for salaried individuals and Rs 21 lakhs per annum for self-employed individuals.

#2 Axis Bank Magnus Credit Card

The Axis Bank Magnus Credit Card offers travel, lifestyle, and wellness benefits to its users. Following are the features and benefits of the card.

• Gives a welcome bonus of one complimentary domestic flight ticket or a Tata CliQ voucher worth Rs 10,000.
• Unlimited domestic and international airport lounge access with 8 additional guest visits per year.
• Get up to 40% discount on 4,000 restaurants across India.
• On buying one ticket for a movie or event on BookMyShow, you can receive up to Rs 500 off on your next transaction on BookMyShow.
• Earn 25,000 EDGE reward worth Rs 5,000 for monthly spends of Rs 1 lakh. Get 5x EDGE reward points on travel spending and 12x EDGE reward points for every Rs 200 spent.
• Additional benefits include purchase protection of Rs 2 lakhs, credit shield of Rs 5 lakhs, lost card liability up to the credit limit, and insurance against lost or delayed luggage and documents up to USD 500.
• Joining and annual fee Rs 10,000.
• Eligibility:
  • Age: Between 21 and 70 years
  • Income: Above Rs 18 lakhs per annum

#3 SBI Aurum Credit Card

The SBI Aurum Credit Card is best suited for travel and rewards. Following are the features and benefits of the card.

• It offers welcome benefits worth 40,000 reward points worth Rs 10,000 and complimentary Zomato Pro, Eazydiner Prime, and BBStar membership.
• Get four reward points for every Rs 100 spent.
• Get four complimentary movie tickets every month.
• 4 complimentary domestic lounge access, and unlimited international lounge access with complimentary Dreamfolks lounge membership.
• Complimentary airport spa access during travel.
• Flight cancellation benefits up to 3,500 per ticket.
• Milestone benefits: Vouchers worth up to Rs 20,000 from Tata CliQ Luxury, Taj, and Apple for annual spending of up to Rs 20 lakhs.
• Other benefits include zero liability on lost cards, a 24*7 concierge service, and a low foreign currency markup rate.
• Joining and annual fee Rs 10,000. The annual fee is waived if spending exceeds Rs 12 lakhs.
• Eligibility: It is an invite-only credit card.

#4 IndusInd Celesta Credit Card

The IndusInd Celesta Credit Card is designed for the user to enjoy luxury benefits in dining and lifestyle.

• It gives welcome benefits of Oberoi hotels and resorts vouchers worth Rs 50,000 and Montblanc vouchers worth Rs 50,000.
• Get one reward point for every Rs 100 spent on domestic spending, three reward points on international spending, and 0.7 reward points for every Rs 100 spent on utility bills, insurance payments, and government services.
• Unlimited complimentary domestic airport lounge access.
• 10% discount on Hertz car rental along with free driver and upgrade of car class.
• Get a complimentary EazyDiner Prime membership, a discount of up to 50% on premium restaurants in India and Dubai, and up to Rs 3,000 off on dining with the Sumptuous Beginnings program.
• Buy on get one offer on movie tickets and a 20% flat discount on ticket booking on BookMyShow.
• Get 3 complimentary golf lessons and 3 complimentary golf games every month.
• 1% fuel surcharge waiver.
• Other benefits include accidental air death up to Rs 2.5 crores, delayed baggage cover up to Rs 5,000, loss of travel documents up to Rs 50,000, lost baggage up to Rs 1 lakh, and lost ticket or missed connection up to Rs 25,000.
• Joining and annual fee Rs 50,000. The annual fee is waived if spending exceeds Rs 10 lakhs.
• Eligibility:
  • Age: Between 21 and 65 years
  • Income: Stable income for both salaried and self-employed individuals
  • Good credit history

#5 HDFC Bank Infinia Credit Card Metal Edition

HDFC Bank Infinia Credit Card Metal Edition offers benefits across travel, dining, shopping, and rewards. Following are its features and benefits.

• It gives a welcome bonus of complimentary Club Marriott membership for a year and 12,500 reward points upon card activation.
• At partner ITC hotel, get a one-night complimentary stay upon booking a night’s stay and free buffets.
• Unlimited domestic and international airport lounge access using a priority pass.
• Earn 5 Reward Points for every Rs 150 spent.
• Get an additional 15% off on all bill payments as Swiggy Dineout.
• The lowest markup fee is 2% on all foreign currency transactions.
• Unlimited golf games at prestigious golf courses in India and selected international courses.
• Other benefits include accidental air death cover of 3 crores, credit shield of up to 9 lakhs, and emergency overseas hospitalisation benefit of up to 50 lakhs.
• Fuel surcharge waiver of 1% on all fuel stations across India.
• Joining and annual fee Rs 12,500.
• Eligibility: It is an invite-only credit card.

#6 Axis Reserve Credit Card

Axis Reserve Credit Card offers best-in-class privileges to its users across travel, wellness, and entertainment segments. Following are the features and benefits of the card.

• Gives welcome business of Taj Experience E-Gift card, club Vistara Gold membership, and Zomato pro membership for free. Also, receive 50,000 reward points upon card activation.
• Offers unlimited airport lounge access at domestic and international airports with 12 complimentary visits for guests.
• 8 VIP assistance services up to 8 times a year with seamless airport experience.
•  Earn 15 EDGE reward points for every Rs 200 spent and 2x rewards on international expenditures.
• Get 50% off room tariffs for suites on weekends and 25% green points on food and beverage expenses.
• Get an Accroplus membership with a complimentary night stay across the Asia-Pacific region, complimentary room upgrades, and 50% off on dining.
• Complimentary lunch buffets at Accor Hotels in India.
• Exclusive offers at Oberoi Hotels and Resorts, including 15%-50% savings on rooms and suites.
• Fifty complimentary golf rounds per annum at the finest golf courses in India.
• Get a 1% fuel surcharge waiver.
• Other benefits include lost card liability up to credit limit, purchase protection of Rs 2 lakhs, coverage for loss and delay in baggage up to USD 500, credit shield of Rs 5 lakhs, and air accident coverage of Rs 45 lakhs.
• Joining and annual fee – Rs 50,000.
• Eligibility:
  • Income: Above Rs 18 lakhs per annum

#7 American Express Platinum Credit Card

The American Express Platinum Credit Card offers a whole range of benefits on ‘Platinum Experiences’. Following are the features and benefits of the card.

• Welcome bonus of Rs 45,000 worth of coupons for SeleQtions, Taj and Vivanta Hotels.
• Complimentary EazyDiner membership and discount of up to 50% and 1,800 partner fine-dining restaurants in India.
• Benefits worth Rs 37,000 for free room upgrades and late check-out at 5-star hotels.
• Unlimited access to 1,30 premium airport lounges across the world.
• Earn 3x rewards on every foreign transaction, 5x reward points on transactions done via the AmEx reward multiplier portal, and one membership reward point for every Rs 40 spent with your card.
• Get exclusive invitations to exceptional experiences and events.
• Pre-sale access to events, concerts, international awards and sports events.
• Other benefits include personal air accident cover of Rs 5 crore, Rs 50,00 for loss of check-in luggage, passport or other documents, and overseas medical insurance cover up to USD 50,000 for the first seven days.
• Joining and annual fee Rs 60,000.
• Eligibility:
  • Age: At least 18 years
  • Income: It should be above Rs 25 lakhs per annum for salaried individuals and Rs 15 lakhs per annum for self-employed individuals.

#8 Yes Bank Marquee Credit Card

The Yes Bank Marquee Credit Card is tailored for individuals who seek a blend of luxury and practicality. This elite card delivers exceptional value through exclusive travel, dining, and lifestyle benefits. It provides the following features and benefits to the users:

• 40,000 YES Rewardz Points as Joining Benefits upon payment of the joining fee.
• Buy 1 Get 1 Offer on movie tickets via BookMyShow.
• Complimentary ETPrime Subscription worth INR 3,199 upon fee realisation.
• Accelerated YES Rewardz Points: 36 YES Rewardz Points on every INR 200 spent on online shopping (except select categories), 18 YES Rewardz Points on offline shopping, and 10 YES Rewardz Points on select categories.
• Complimentary Airport Lounge Access: Unlimited international and 6 domestic airport lounge visits per calendar quarter.
• 1% Fuel Surcharge Waiver at fuel stations across India on transactions between INR 400 and INR 5,000.
• Golf Program: Waiver of 4 Green Fees at select golf courses and 1 complimentary golf lesson per calendar month.
• Purchase Protection Plan with insurance coverage of up to INR 50,000.
• Credit Shield and Lost Card Liability Cover of INR 15 lakhs.
• Foreign Currency Markup: Preferential rate of 1% on foreign transactions.
• Air Miles Conversion: 4 YES Rewardz Points = 1 InterMile or 1 Club Vistara Point.

#9 SBI Elite Credit Card

Experience a new level of luxury with the SBI Elite Credit Card—an exclusive card designed for those who seek premium benefits and unparalleled privileges. This card seamlessly blends rewards across travel, dining, entertainment, and lifestyle to enhance your everyday experiences. Here are the standout features and benefits you can enjoy:

• Welcome Gift: Receive a gift voucher worth Rs 5,000 upon joining. You can choose from top brands like Yatra, Hush Puppies/Bata, Pantaloons, Aditya Birla Fashion, and Shoppers Stop.
• Free Movie Tickets: Get up to Rs 6,000 worth of free movie tickets annually. This offer applies to 2 tickets per booking per month, with a maximum discount of Rs 250 per ticket (convenience fees apply).
• Bonus Rewards: Earn up to 50,000 bonus points (worth Rs 12,500) every year. You’ll receive 10,000 bonus points each time you reach spending milestones of Rs 3 lakhs and 4 lakhs.
• Enhanced Rewards: Earn 5X reward points when you spend on dining, grocery, and department stores. For all other purchases, earn 2 reward points for every Rs 100 spent, excluding fuel.
• International Lounge Access: Get complimentary Priority Pass membership (valued at $99) and enjoy 6 free international airport lounge visits per year (limited to 2 per quarter).
• Domestic Lounge Access: Enjoy 2 free visits to domestic airport lounges every quarter at airports across India.
• Club Vistara Benefits: Receive a complimentary Club Vistara Silver membership, which includes one free upgrade voucher and 9 Club Vistara Points for every Rs 100 spent on Vistara flights.
• Trident Privilege Membership: Get a complimentary Trident Privilege Red Tier membership with 1,000 welcome points, 1,500 bonus points after your first stay, and Rs 1,000 credit for extended stays. (This benefit will be discontinued after June 30, 2024).
• Low Forex Markup: Benefit from a low 1.99% foreign currency markup fee on international transactions. Additionally, earn 2 reward points for every Rs 100 spent on international purchases.
• Concierge Services: Access personalized concierge services for gift and flower delivery, as well as online doctor consultations.

#10 Yes First Reserve Credit Card

Step into a world of unparalleled luxury and convenience with the Yes First Reserve Credit Card. Tailored for those who seek exceptional benefits and exclusive privileges, this premium card is designed to enhance every aspect of your lifestyle. From generous rewards on your everyday spending to top-tier travel and dining perks, the Yes First Reserve Credit Card ensures that every experience is extraordinary. Discover the elite features and benefits that set this card apart:

• Global Lounge Access: Enjoy complimentary access to airport lounges worldwide.
• Reduced Foreign Currency Markup: Benefit from a preferential markup rate of 1.75% on foreign currency transactions.
• Low Interest Rate: Take advantage of a competitive interest rate of just 2.99% on revolving credit.
• Bonus Reward Points: Earn 8000 bonus reward points with the renewal fee starting from the 2nd year onwards.
• Purchase Protection: Get insurance coverage of up to INR 50,000 for accidental damage to mobiles and electronics purchased online, valid for 6 months.
• Golf Benefits: Enjoy 4 green fee waivers annually and one golf lesson per year at select courses in India.
• Comprehensive Insurance: Includes a Credit Shield cover of up to INR 15 lakhs and lost card liability coverage ranging from INR 15 lakhs to INR 30 lakhs.
• Fuel Surcharge Waiver: Receive a 1% waiver on fuel surcharges for transactions between INR 400 and INR 5000.
• International Lounge Access: Access airport lounges globally with Mastercard and Visa cards.
• Domestic Lounge Visits: Benefit from 3 complimentary lounge visits per quarter within India.
• Reward Points System:
• 24 YES Rewardz Points for every INR 200 spent online (excluding certain categories).
• 12 YES Rewardz Points for every INR 200 spent offline (excluding certain categories).
• 6 YES Rewardz Points for every INR 200 on select categories.
• Convert 10 YES Rewardz Points to 1 InterMile or 1 Club Vistara Point.
• Reward Points Cap: Accumulate up to 36,000 reward points per statement cycle.
• Flexible Financial Options: Access Instant EMI, Post Purchase EMI, Quick Loan, YES PayNow, and E-mandate features.

Eligibility Criteria to Apply for Premium Credit Cards

The eligibility criteria for premium credit cards are very stringent when compared to those of regular credit cards. Though the criteria vary across banks, the following are some of the standard factors banks check to issue a premium credit card.

• Age: Premium credit cards are issued only to individuals who have reached a certain age limit. Usually, the age limit is around 21 years, and sometimes it can even be above 26 years.
• Residential status: Certain banks issue credit cards to only residents of the country where the bank is. However, some also issue cards to non-resident citizens. The primary purpose is to check the stability of the country of residence.
• Income: Banks issue premium credit cards to individuals who have income above a certain cut-off. The cut-off is usually way above the national average.
• Employment status: Premium credit cards are issued to stable and self-employed individuals. The proof of income primarily includes pay slips and income tax returns.
• Creditworthiness: An individual’s creditworthiness is assessed through their credit score and credit history. Usually, individuals with credit scores above 750 are preferred by banks. Moreover, a strong credit history with on-time payments and low credit utilisation can help an individual’s candidature as it shows the ability to repay debt. Defaults, late payments, and negative remarks in the credit report can negatively affect the application. Banks also check the number of cards the individual holds, as having too many cards can reduce creditworthiness.
• Debt-to-income ratio: The ratio of the total monthly debt to total monthly income is the debt-to-income ratio. A low ratio is considered good.
• Relationship with the issuer: Banks offer premium credit cards to existing customers of the bank who have a premium account with the bank with a high balance or invest in deposits and other instruments through the bank.

How to Apply for a Premium Credit Card in India?

Applying for a premium credit card is similar to applying for a standard credit card. However, the approval process can be slightly different and time-consuming. The following steps will guide you to apply for a premium credit card.

• Check eligibility criteria: Before applying for any credit card, you must check the eligibility criteria. Do not apply if you don’t fulfil the eligibility criteria. Remember, each bank has specific criteria, so ensure you check the criteria properly.
• Fill out the application: Fill out the credit card application with the utmost care. Make sure the important information, such as name, age, address, income, and employment details are filled correctly. Always double-check the application before submitting it.
• Keep the documents ready: Banks usually ask for proof of identity, proof of address, and proof of income from you. A passport, PAN Card, Aadhar Card, or driver’s license is accepted as proof of identity. Proof of address is utility bills, rental agreement or Aadhar Card is accepted. Salary slips and income tax returns act as proof of income.
• Pay the application fee: Credit cards have an application and processing fee, which must be paid right at the time of application. Make the payment and save the acknowledgment in a safe place.
• Submit the application: Submit your application to the bank along with the documents and passport-size photographs. You can also submit the application online and upload the documents into the bank’s portal.
• Approval by Bank: Once you submit your application, the bank will review it and send you its decision through an email, message or post. Since it’s a premium credit card, the approval time can be longer than a regular credit card.

Premium credit cards are designed to meet the needs of individuals who seek luxury, convenience, and exclusive benefits. If you have a passion for refined experiences, then a premium credit card can be your key to a world of privilege. Before choosing a premium credit card, assess the benefits it offers along with your spending habits and match them with the benefits that are important to you. This way, you can find the card that is best for you.

What are the Added Advantages of Premium Credit Cards?

Premium credit cards offer a host of benefits to their users, and the following are just some of them.

• Rewards: Premium credit cards offer lucrative rewards to its users. Each rupee spent gives higher reward points, miles, and cashback, which can be redeemed for travel, dining, and hotel bookings.
• Travel perks: From unlimited lounge access at luxury airports to free membership priority passes at airports, free hotel and air ticket upgrades, and baggage and travel insurance, these cards are loaded with travel benefits.
• Dining indulgence: They give access to Michelin-starred restaurants and exclusive fine dining establishments with rewarding discounts and complimentary memberships to popular dining clubs.
• Shopping experience: Premium credit cards do not just offer high rewards on shopping; they also give access to exclusive boutiques and discounts on limited-edition clothes and accessories.
• Exclusive entertainment opportunities: With premium credit cards, get exclusive access to concerts and games along with VIP packages designed especially for the user.
• Enhanced financial services and protection: These cards come with a very high credit limit, low or nil foreign transaction fees, and extended warranties and purchase protection on goods such as mobile phones, laptops, and cameras.
• Improved security and benefits: Premium cards are also designed to offer premium protection against credit card frauds, emergency assistance in case of lost luggage and medical emergencies, and travel accident insurance.

Factors to Consider While Getting a Premium Credit Card

1. Annual Fees

   When picking a premium credit card, one important thing to look at is the annual fee. This is a yearly charge you have to pay just for having the card. Premium cards often come with higher annual fees, so make sure the benefits and rewards you get are worth the cost. Compare the fee to what the card offers to see if it’s a good deal for you.

2. Rewards and Benefits

   Another important factor is the rewards and benefits the card offers. Premium credit cards usually provide various perks, like cashback, points, or miles for every purchase. Check what kind of rewards you can earn and if they match your spending habits. Also, look at any additional benefits, such as discounts or special offer tie-ups in sales.

3. Interest Rates

   Interest rates are crucial to consider, especially if you might carry a balance. Premium credit cards may have higher interest rates, so it’s important to understand how much you’ll be charged if you don’t pay off your balance in full. Look for cards with lower interest rates or ones that offer promotional rates if you think you’ll carry a balance.

4. Travel Benefits

   If you travel often, check the travel benefits that come with the card. Many premium cards offer perks like airport lounge access, travel insurance, and no foreign transaction fees. These benefits can make your travel experience more comfortable and affordable, so see which card offers the best travel-related advantages for you.

5. Lifestyle Benefits

   Consider the lifestyle benefits provided by the card. Premium cards often offer perks related to dining, shopping, and entertainment, such as special discounts, access to exclusive events, or concierge services. Think about how these benefits align with your lifestyle and if they’ll enhance your everyday experiences.

6. Customer Service

   Finally, look at the customer service provided with the card. Premium credit cards should offer high-quality support, including 24/7 assistance and quick resolution of issues. Good customer service can make a big difference if you run into any problems or need help with your card, so make sure the card issuer has a reputation for excellent service.

Methodology For Top Premium Credit Cards

1. Ease of Use: We look at how simple it is to understand the cashback or reward points system and how easy it is to use those points. We also consider if there are limits on earning these rewards.
2. Extra Facilities: This includes additional perks that come with the card, such as welcome bonuses, discounts on items other than fuel, and surcharge waivers.
3. Cost of the Card: We evaluate the card’s annual fee, any extra charges, hidden fees, and available rebates.
4. Acceptance: A top credit card should be widely accepted and the issuer should be reputable.
5. Redemption of Reward Points: It’s important that redeeming reward points is clear and straightforward for users.

FAQs

What is a black credit card?

There are certain premium credit cards which are loosely referred to as black credit cards which offer exclusive benefits to its customer base at a high cost.

Does HDFC have a black credit card?

HDFC has a credit card with the name, ‘Diners Club Black Credit Card’ which exclusive offers to their customers.

Are premium credit cards good?

Yes, premium credit cards are good as they offer exclusive benefits to their clients. The eligibility criteria for these cards and the selection of offers given are quite unique than the other credit cards provided by the financial institutions.

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