Looking for the best cashback credit card in India? Whether you’re shopping online, dining out, or paying bills, cashback credit cards help you save on every transaction. Comparing two of the top contenders in the market — the Cashback SBI Credit Card and the Axis Bank Ace Credit Card.
The Cashback SBI Credit Card is a popular choice among young spenders. It offers up to 5% cashback on a wide range of purchases. With an annual fee of ₹999 (plus GST), it’s ideal for those who want to earn rewards on both online and offline spending. On the other hand, the Ace Credit Card offers up to 5% cashback on transactions made on Google Pay, partner merchants (like Swiggy and Zomato), and all other spends. It also provides complimentary access to domestic airport lounges and many great dining benefits. The Axis Ace Credit Card is currently being offered as a lifetime free credit card. However, it has a renewal fee of ₹499 + GST.
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Cashback SBI Card
The Cashback SBI Card has been launched recently by SBI Cards, and as the name suggests, it offers you cashback on all purchases. The card comes at a joining fee of ₹999 + GST. The renewal fee of the card can be waived on spending ₹2 lakh or more in the previous year. The card offers up to 5% cashback on all online transactions and 1% cashback on other offline purchases. The cashback earned with the card is adjusted in the card’s statement balance.
The features of the card include the following-
- The cashback earned with the card will be automatically adjusted in the card’s next month’s statement.
- Primary cardholders can request upto two add-on cards, free for life.
- Get a 1% fuel surcharge waiver on all fuel transactions between ₹500 and ₹3,000 at all fuel stations in India. The waiver on fuel surcharge is capped at ₹100 per month.
Axis Bank Ace Credit Card
Axis Bank’s Ace is another popular cashback credit card that offers great cashback on all transactions made with the card. The card is issued as a lifetime free credit card with no joining fee, but with a ₹499 + taxes renewal fee. The joining fee is waived on spending ₹10,000 within 45 days of card issuance, and the annual fee from the 2nd year onwards is waived on yearly total spending of ₹2,00,000.
Talking about the cashback that it provides, you get 5% cashback on utility bill payments and DTH & mobile recharges through Google Pay. You also get 4% cashback on partner merchants and 1.5% cashback on all other transactions made with the card. The card also offers many other benefits, like a 20% discount on dining bills and travel benefits, including complimentary access to domestic lounges. The features and advantages of the Ace Credit Card have been mentioned in detail below:
- The Ace Card offers 5% cashback on utility bill payments like electricity & gas bills and DTH & mobile recharges made with Google Pay.
- You also get 4% cashback on partner merchants like Zomato, Swiggy, & Ola.
- 1.5% cashback on all other merchant expenditures.
- The cashback is adjusted in the card’s next statement balance.
- The card provides four free accesses to domestic lounges in India as a travel perk.
- Get up to 20% discount on dining bills at 4000+ restaurants under the bank’s Dining Delights program.
- The joining fee (of ₹499) can be waived on spending ₹10,000 within 45 days of card activation, and the renewal fee (of ₹499) can be waived on spending ₹ 2,00,000 in the previous year.
- 1% fuel surcharge waiver on all fuel transactions between ₹400 and ₹4,000. The waiver is capped at ₹500 per month.
Quick Comparison
The table below will let you know the differences in the features and benefits of both credit cards:
| Particulars | Cashback SBI | Axis Bank Ace |
| Annual Fee | ₹1,178 (With GST) | ₹590 (Including GST) |
| Cashback | 5% Cashback on All Online Transactions1% Cashback on All Offline Transactions | 5% Cashback on Bill Payments and Mobile Recharges via Google Pay4% Cashback on Swiggy, Zomato, & Ola1.5% Cashback on All Other Spends |
| Cashback Capping | The Maximum Cashback of ₹5,000 per Statement Cycle | The 5% and 4% Cashback Categories have a Combined Maximum Capping of ₹500 per Statement Cycle |
| Cashback Redemption | Cashback Will be Automatically Credited to the Card’s Statement Balance. | Cashback Will be Automatically Credited to the Card’s Statement Balance. |
| Spend-based Annual fee waiver | The Annual Fee can be Waived on Spending ₹2 Lakh in Previous Year | The Joining Fee can be Waived if You Spend ₹10,000 in the First 45 Days of Card activation The Annual Fee can be Waived on Spending ₹2 Lakh in the Previous Year |
| Domestic Airport Lounge access | N/A | 4 Complimentary Domestic Lounge Access per Year |
| Dining Benefits | N/A | Up to 20% off on Dining Bills at Restaurants Under the Axis Bank Dining Delights Program |
Bottom Line
Both credit cards offer great cashback on all spending made with them, and both offer many other privileges that make them the best choice. However, there are a few differences that can be noticed in both cards. The Axis Bank Ace Credit card has a capping of ₹500 per statement cycle on 5% and 4% cashback categories, but you get unlimited 1.5% cashback on other spends. The Cashback SBI Credit Card has a maximum capping of ₹5,000 cashback per cycle on both online and offline spends. Also, the Ace credit card offers dining benefits and complimentary lounge access, which is not provided by the Cashback SBI credit card.
One more difference lies in the annual fee of the cards, where the annual fee of the Cashback SBI Card is much higher than the Ace Card. Therefore, both cards are great, but the Axis Bank Ace credit card offers more benefits at a lower annual fee. If you want a card with a slightly lower annual fee, then the Ace credit card should be your choice. Let us know your views on both the credit cards and which one you would apply for in the comments below.
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