We are a consumerist society today. It doesn’t matter if we do not have ready funds for any small or large expense. There are specific loans available for buying a car or a house, and for more immediate and probably slightly smaller requirements, we have those beautiful shiny pieces of plastic called credit cards.
You would see more women in shopping malls because women like to spend. But women also are the voice of reason in most households and lead the efforts towards savings as well. Because of these reasons and because women are equally important decision makers about a household’s expenses, most banks have created special credit cards meant for women. Let us try to compile a list of the top 4 credit cards currently available for women.
1. Standard Chartered Manhattan Card: The biggest areas of spends by women are for the regular household provisions. This card allows massive savings and rewards on such spends by offering 5% cash back on all grocery and household spends at supermarkets and department stores. When this card is being used for booking airline tickets (or even for a restaurant meal or buying petrol), the card gives you five times reward points for every rupee spent. You need to pay Rs 999 every year as membership but if you have a deep relationship with the bank or if you spend a minimum amount every month this could be waived. Also, if the rewards and cashback are completely utilised, then more than Rs 5,000 could be saved every year. What more could a woman want?
2. Citibank Cashback Card: If you have a great credit history you can apply for this card. Although the form is a bit tedious, you can easily apply for this card online. Why women love this card is because it assures cash back and rewards on many of the regular household expenses. You can get a 5% cash back on your monthly utility and telephone bills, which makes the effective household expenses lower. A movie outing can also be made more pleasant with the help of this card because of the 5% cashback provided on movie ticket purchases as well. All the other spends would bring you half a percentage point of cashback. All in all, an attractive deal!
3. State Bank of India Simply Click Card: This is one of the banks with the highest number of branches, therefore if you are a woman not used to net banking (sorry, we are not being sexist), then you can easily find a branch nearby to walk into for the repayments on this card. If you have a salary account with SBI, this credit card is really attractive. The annual fees are less than Rs 500 on this card, but if you spend more than a lakh in a year, this would be waived off. This card makes online shopping very attractive, and women would love shopping at Amazon, Flipkart, MakeMyTrip, ClearTrip and many other e-retailers with whom SBI has a tie-up to provide you great benefits like 10x reward points, welcome vouchers, trip vouchers etc.
4. ICICI Bank Platinum Card: Many women in India have a habit of salting away small amounts from their monthly household budget and putting this money away in a fixed deposit. If you are one of them, you could be eligible for this feature-laden card against your ICICI Bank fixed deposits. Every hundred rupees you spend using this card would get you three reward points. Twice a month you would be eligible for a discount of Rs 100 each time on movie ticket purchases. You also get delightful rewards and offers on dining out or refuelling your vehicle.