Best credit cards for millennials

It is no longer a secret that every business in this world has made millennials their target audience. Be it selling fast food, clothes or smartphones, demands of the millennials are a priority for all business groups. Banks are also keeping up with the pace and aggressively seeking the attention of millennials.

There are several payment apps in the market today which offer tough competition to the banks. In order the give their credit card business a boost, banks provide lucrative perks to millennials. These perks include sign up bonuses, reward points, etc.

Some of the best credit cards available in the market today are as follows:

• Standard Chartered Manhattan Platinum Credit Card
• SBI Simply Click Credit Card
• ICICI Instant Platinum Card
• Yatra SBI Credit Card
• Citibank Premier Miles Card
• SBI Gold Credit Card
• Citibank Cashback Credit Card

Standard Chartered Manhattan Platinum Credit Card:

This particular credit card is great for shopping needs. It can be used to purchase groceries and pay dining bills. The benefits that can be availed with this credit card are as follows:

• Avail 5% cashback at various departmental stores and supermarkets.

• Enjoy 5X rewards points when you pay your dining bills, hotel bills, etc. using the Standard Chartered Manhattan Platinum Credit Card.

• Avail cashback of Rs.500 when you purchase products worth Rs.1,000.
• The cash withdrawal fee for this card is 3%. It is subject to a minimum amount of Rs.300.
• The rate of interest associated with the Standard Chartered Manhattan Platinum Credit Card is 3.1% per month.

SBI Simply Click Credit Card:

This particular credit card focusses on online shopping and offers great features for all the online shoppers. The benefits offered by the SBI Simply Click Credit Card are as follows:

• Enjoy 10X Rewards Points when you spend online with partners like BookMyShow, Amazon, Foodpanda, Cleartrip, Ola Cabs, etc.
• Avail 5X Rewards Points on other spends using the SBI Simply Click Credit Card.
• The annual fee is waived off when you spend a minimum of Rs.1 lakh in a year using this credit card.
• Avail gift vouchers from Amazon worth Rs.500.
• Avail fuel surcharge waiver of 2.5%.

ICICI Instant Platinum Card:

This credit card is ideal for people using credit cards for the first time. ICICI offers this credit card against a fixed deposit that you must open with the bank. You can avail this card without any credit history. The benefits offered by the ICICI Instant Platinum Credit Card are given below:

• No joining fee is required for this credit card.
• No annual fee is associated with the ICICI Instant Platinum Credit Card.
• The rate of interest associated with this card is 2.49% per month.
• 2 Payback Rewards Points can be availed when you spend a minimum amount of Rs.100 using this credit card.
• Avail Global Emergency Assistance with the Instant Platinum Card.
• At more than 800 restaurants worldwide, you can enjoy discounts of up to 15% on your dining bills.

Yatra SBI Credit Card:

If you wish to travel and pay your utility bills, this card can prove to be the right choice for you. The benefits offered by this particular credit card are given below:

• Enjoy vouchers worth Rs.8,250 from Yatra,com as a welcome gift.
• Avail 6X Rewards Points on all your bookings done with Yatra.com.
• Enjoy 6X Rewards Points for all your purchases at grocery and departmental stores.
• Enjoy the Easy Bill Pay facility for paying your utility bills on time.
• Avail fuel surcharge waiver of 2.5%.

Citibank Premier Miles Card:

This credit card can prove to be a great choice for millennials who are frequent flyers. The air miles that you earn can be redeemed for car rentals, hotel stays and flights. The benefits offered by the Citibank PremierMiles Credit Card are given below:

• Spend a minimum amount of Rs.1,000 and earn 10,000 miles. However, you must spend this amount within a period of 60 days from the date of card issuance.
• On all your airline transactions, you can earn 10 miles for spending Rs.100 using this credit card.
• The air miles that you earn can be redeemed at more than 100 airlines, both international and domestic.
• Interest rate associated with this card ranges between 37.20% and 42% per annum.
• Avail access to VIP airport lounges across India using this credit card.

Bottom Line:

There are several credit cards in the market today. Different credit cards are equipped with specific features and benefits. All other credit cards are not designed as per your requirements. Understand your spending pattern before you pick a card for yourself. Choose the one that suits your needs.