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Cashback Credit Card for Students: A Complete Guide

Introduction

Cashback credit cards are a great way to earn money back on your everyday spending. These cards offer direct cash rewards instead of complicated point systems, making it easier to save. Whether you're shopping, dining, or paying bills, a good cashback card can help you save significantly. Let’s explore the best cashback credit cards based on their annual fees.

Best Lifetime Free Cashback Cards (Zero Annual Fee)

Amazon Pay ICICI Bank Credit Card

This co-branded card remains one of India's most valuable no-fee offerings and most loved for Amazon shoppers.

Key Benefits:

• No annual fee (lifetime free)
• 5% cashback on Amazon purchases for Prime members (3% for non-Prime)
• 2% cashback on payments at Amazon Pay partner merchants
• 1% cashback on all other spending (except fuel and gold)
• 1% fuel surcharge waiver across all petrol pumps
• No limits on cashback capping

The Amazon Pay ICICI card is particularly valuable for frequent Amazon shoppers and Prime members.

Axis Neo Credit Card

This card offers strong rewards for online shopping across multiple platforms.

Key Benefits:

• Zero annual fee for life.
• 40% off on Zomato (up to ₹120/order, twice a month).
• 5% off on Paytm for mobile recharge, broadband, and DTH (up to ₹150/month).
• 10% off on Blinkit (up to ₹250, minimum spend ₹750, once a month).
• ₹150 off on Myntra (minimum spend ₹999, selected styles).
• 10% off on movie tickets on BookMyShow (up to ₹100/month).
• 15% off up to ₹500 on dining (minimum spend ₹2500, once a month via EazyDiner).

The Axis Neo credit card is ideal for those consumers who make most of their purchases online across various platforms rather than concentrating on a single merchant.

Cashback Cards with Annual Fees Under ₹1,000

Flipkart Axis Bank Credit Card

This popular co-branded card offers excellent returns on Flipkart and a wide range of everyday spending.

Key Benefits:

• Annual fee: ₹500 plus taxes extra (waived on spends of ₹3,50,000 per year)
• 5% Unlimited Cashback on Flipkart and Cleartrip.
• 4% Unlimited Cashback on preferred merchants (Swiggy, Uber, PVR, CultFit).
• 1% Unlimited Cashback on all other merchants.
• 4 Complimentary Domestic Lounge Access visits per calendar year (on ₹50,000 spent in the last 3 months).
• 1% Fuel Surcharge Waiver (up to ₹400/month on transactions between ₹400 and ₹4,000).

The Flipkart Axis Bank card provides excellent value for Flipkart shoppers while offering competitive returns on everyday spending, making it versatile for most Indian consumers.

HDFC Swiggy Credit Card

This card focuses on everyday spends on the Swiggy platform.

Key Benefits:

• Annual fee: ₹500 + extra GST (waived on spending ₹2,00,000 per year)
• 10% Cashback on Food Delivery, Instamart, Dineout and Genie (up to ₹1,500 per month).
• 5% Cashback on 1000+ platforms (up to ₹1,500 per month on popular brands like Nykaa, Myntra, Amazon).
• 1% Cashback on Other Spends (up to ₹500 per month).
• Complimentary 3-month Swiggy One Membership (new cardholders)

The HDFC Swiggy card is particularly valuable for those who spend heavily on Swiggy, though there's a monthly cap limit on each type of cashback.

Axis Airtel Credit Card

This card offers great benefits to those who regularly spend on Airtel services and utility payments and their partnered merchants.

Key Benefits:

• Annual fee: ₹2,000 (waived on spends of ₹5,00,000 per year)
• 25% Cashback on Airtel Services (mobile, broadband, Wi-Fi, and DTH bill payments via Airtel Thanks app, capped at ₹250 per statement cycle).
• 10% Cashback on Utility Bill Payments (electricity, gas, water through Airtel Thanks app, capped at ₹250 per statement cycle).
• 10% Cashback on Partner Merchants (Swiggy, Zomato, BigBasket, capped at ₹500 per statement cycle).
• 1% Cashback on Other Retail Purchases (no cap).
• 4 Complimentary Domestic Lounge Access annually (eligible after spending ₹50,000 in the last 3 months).
• 1% Fuel Surcharge Waiver on transactions between ₹400-₹4,000 (capped at ₹500 per month).

The Axis Airtel Credit Card stands out for its high flat cashback rate on Airtel and utility services and their partner merchants, making it valuable.

Cashback Cards with Annual Fees Over ₹1,000

HDFC Millennial Credit Card

This card offers flat cashback on select partner merchants.

Key Benefits:

• Annual fee: ₹1,000 + Applicable GST (waived on spends of ₹1,00,000 per year)
• 5% Cashback on Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber, and Zomato.
• 1% Cashback on all other spends.
• 1% Fuel Surcharge Waiver at all fuel stations across India (on transactions between ₹400 and ₹5,000, capped at ₹250 per statement cycle).

SBI Cashback Credit Card

This is the perfect card for online spending, offering no capping on specific merchants or categories, though a cashback cap applies.

Key Benefits:

• Annual fee: ₹999 + Applicable GST (waived on spends of ₹2,00,000 per year)
• 5% Cashback on Online Spends (up to ₹5,000 per statement cycle).
• 1% Cashback on Offline Spends (for all offline purchases).
• 1% Fuel Surcharge Waiver at all petrol pumps (transactions ₹500–₹3,000, capped at ₹100 per statement cycle).

HSBC Live+ Credit Card

The HSBC Live+ Credit Card is designed for those who love digital spending, offering great cashback on both online and offline purchases with a variety of perks like complimentary lounge access and movie ticket offers.

Key Benefits:

• Annual fee: ₹999 + Applicable GST (waived on spends of ₹2,00,000 per year)
• 10% Cashback on Dining, Food Delivery, and Grocery (capped at ₹1,000 per billing cycle).
• 1.5% Cashback on Retail Spends (no capping).
• 4 Complimentary Domestic Airport Lounge Visits per year.
• BOGO Offer on Movie Tickets with BookMyShow (max ₹250 for the free ticket, available on Saturdays for shows on any day of the week).

Conclusion

Choosing the right cashback credit card can significantly enhance your financial strategy by ensuring you make the most of your everyday spending. Each card offers unique benefits, from higher cashback on specific categories like online shopping and dining to travel perks such as airport lounge access. With the right choice, you can easily maximize your rewards, all while keeping the costs low and enjoying a wide range of benefits.

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