When it comes to credit cards, the options in the market are huge. All the major banks of India offer a number of credit cards, which they want to sell to the customers with their relentless marketing. A credit card, if used smartly, can be a great financial instrument that not only builds your credit score, but also provide you huge advantages over spending cash. However, out of so many options in the market, choosing the right credit card can be a bit tricky.

There are a number of things that you should see when you select a credit card. The first thing is the usage. If you like to use your credit card on shopping, then you may want to select a credit card which offers you the maximum cash back. Titanium and gold cards are especially chosen by those users who have high fuel consumption and so on. Secondly, you will need to check the interest rates offered by different banks. The interest rate varies from card to card and bank to bank. It is the monthly amount that will be charged by the banks. The best thing to do is to compare different credit cards to find out the one with lowest interest rate. The third most important thing to look for is the annual fees on the credit card. The annual fee is charged by the banks to renew your credit card every year.

Here is the list of a few credit cards which you can pick this august.

1. ICICI Instant Platinum Card-For First Time Users

This is the card for those who have difficulty in getting a credit card due to their low credit score or for the first time users. This is a secured credit card which offers you a number of features, while also giving you the opportunity to improve your CIBIL score. The annual fee on this credit card is nil. Apart from this you can get many cashback features for movie ticket, restaurants and other shopping centers. It also offers you waiver on fuel surcharge. The interest charge is 2.49% monthly and 29.88% yearly on dues.

2. Citi Bank Cashback Credit Card-For Those Who Love Cashbacks

This credit card is for those who love to watch movies and like the convenience of paying their bills online, while also getting exciting 5% cashback on their transactions. This Citi Bank credit card is fairly easy to apply. It offers you flat five percent cashback on all your online bill payments as well as booking of movie tickets. Apart from that you also get a cashback of 0.5% on every other transaction that you do with this credit card. The annual fee of this card is Rs 500. The card can be used internationally.

3. HDFC Solitaire Credit Card-The Perfect Card For Urban Women

HDFC Solitaire credit card offers a number of advantages that makes it perfect for today’s progressive women. The card provides you exciting reward points on grocery and restaurant bills, wherein hundred reward points equal to Rs 40. With each spend of Rs 150 you get 3 reward points. The annual fee of the card is Rs500. However, if you spend Rs 10,000 or more within the first three months, it will be waived off.

4. HDFC Moneyback Card-For Online Shoppers

If you love to shop online, then HDFC Moneyback Card is for you. The credit card offers you incredible reward points on every online purchase. 100 reward points is equal to Rs 40. On every Rs 150 spent, you get two reward points on retail purchases. On online purchases the reward points earned is 6. The annual fee of this credit card is Rs 500, which can be waived off by using the card for a purchase of Rs 10,000 or more within the first ninety days.

(Contributed by Rajiv Raj, Director & Co-Founder at Creditvidya.com)