Credit cards have become an essential tool for managing daily expenses, and cashback rewards are one of the most attractive benefits for users. Two of the most popular banks in India, HDFC Bank and ICICI Bank, offer excellent cashback credit cards that cater to various spending habits. If you are confused about which bank’s card suits you better, this article compares HDFC vs ICICI cashback credit cards to help you make an informed decision.
HDFC vs ICICI: Cashback Credit Card Features Compared
When comparing HDFC vs ICICI, it is important to consider the cashback benefits, annual fees, and other perks offered by these banks. Both banks have cards suitable for shopping, dining, travel, and utility bill payments. Let’s break down the details below.
HDFC Cashback Credit Cards
HDFC Bank has several credit cards that offer cashback rewards to users based on their spending habits. These cards are well-suited for both online and offline transactions. Here are some of the top cashback credit cards from HDFC:
HDFC Millennia Credit Card:
- 5% cashback on online spending (Amazon, Flipkart, and other platforms).
- 1% cashback on other offline transactions.
- Annual Fee: Rs. 1,000 (waived on annual spending of Rs. 1 lakh).
HDFC Bharat Cashback Credit Card:
- 5% cashback on fuel, groceries, and bill payments.
- 1% cashback on all other spends.
- Annual Fee: Rs. 500 (waived on annual spending of Rs. 50,000).
These cards from HDFC are designed to maximize savings on everyday expenses, especially for users who shop frequently online and spend on essential categories like groceries, fuel, and utilities.
ICICI Cashback Credit Cards
When considering HDFC vs ICICI, ICICI Bank also provides great cashback credit cards with unique benefits. Below are some of the popular options:
ICICI Amazon Pay Credit Card:
- 5% cashback on Amazon purchases for Prime members.
- 3% cashback on Amazon for non-Prime members.
- 1% cashback on all other transactions.
- Annual Fee: Nil.
ICICI Coral Credit Card:
- 2% cashback on groceries, movies, and dining.
- Access to airport lounges (2 complimentary visits per quarter).
- Annual Fee: Rs. 500 (waived on annual spending of Rs. 1.5 lakh).
ICICI cashback credit cards focus heavily on online shopping and lifestyle expenses, which is perfect for those who shop frequently on Amazon or spend on dining and entertainment
HDFC vs ICICI: Comparing Fees and Charges
To decide between HDFC vs ICICI, it is important to compare the fees, charges, and other costs involved with their cashback credit cards:
HDFC Bank:
- HDFC Millennia Card has an annual fee of Rs. 1,000 but can be waived with annual spending of Rs. 1 lakh.
- HDFC Bharat Cashback Card has a low annual fee of Rs. 500.
ICICI Bank:
- ICICI Amazon Pay Credit Card is completely free with no joining or annual fee.
- ICICI Coral Credit Card has an annual fee of Rs. 500, but users need to spend Rs. 1.5 lakh annually to get the waiver.
Thus, if you want a no-fee card, ICICI Amazon Pay Credit Card stands out. However, HDFC cards offer higher cashback on various essential categories, making them ideal for frequent spenders.
HDFC vs ICICI: Which Bank Offers Better Cashback?
When choosing between HDFC vs ICICI cashback credit cards, the decision largely depends on your spending pattern:
- HDFC Cashback Cards are better for users who shop online across various platforms like Amazon, and Flipkart and pay for fuel and groceries frequently.
- ICICI Cashback Cards are ideal for Amazon shoppers, movie lovers, and users who dine out often.
For instance, if you are a frequent Amazon user, the ICICI Amazon Pay Credit Card offers unbeatable value with up to 5% cashback. On the other hand, HDFC Millennia Card offers 5% cashback on all online platforms, providing more flexibility.
Final Verdict: Choosing Between HDFC vs ICICI
To summarize the comparison of HDFC vs ICICI cashback credit cards:
- HDFC Bank Cards provide better cashback for overall online shopping and daily essentials like groceries and fuel. The HDFC Millennia and Bharat Cashback cards are excellent options for regular spenders.
- ICICI Bank Cards cater to specific needs, such as Amazon shopping, dining, and entertainment. The ICICI Amazon Pay Credit Card is especially beneficial for Prime users.
If you are looking for a card with no annual fee, ICICI’s Amazon Pay Card is the best pick. However, for higher cashback across multiple categories, HDFC cards provide better long-term value.
Also Read: Understanding Credit Card Reward Tiers
Conclusion
Both HDFC and ICICI offer impressive cashback credit cards, each with its own set of benefits. The choice between HDFC vs ICICI depends on your specific spending habits and priorities. For users who prefer flexibility and broad cashback options, HDFC is a great choice. On the other hand, if you are an Amazon shopper or prefer cards with no annual fee, ICICI has the upper hand. Compare the features carefully, and pick the card that suits your lifestyle and helps you save more.