Best Reward Points Credit Cards in India 2026: Points in Rupees
The best reward points card is the one whose points you can redeem at full value. On a ₹30,000 month BOBCARD ETERNA earns ₹7,560 a year in points with its fee waived, SBI Card PRIME reaches ₹8,680 if you use its Pizza Hut vouchers, and the free IDFC FIRST Millennia returns ₹1,980.
In short
BOBCARD ETERNA and SBI Card PRIME give the most back on a ₹30,000 month once their fees are waived, and IDFC FIRST Millennia is the strongest card with no fee at all.
Best for
- People spending about ₹30,000 a month who will redeem points before they lapse
- Online, dining and travel spenders who can use one bank's catalogue or portal
- Readers who want flexible points rather than cashback tied to one brand
Skip it if
- You rarely redeem, since most points here expire in 2 to 3 years
- Most of your spend is at supermarkets, where BOBCARD ETERNA earns nothing
- You carry a balance, as 3.75% a month in interest beats any points rate
Highlights
- BOBCARD ETERNA: 15 points per ₹100 on online, dining, travel and international
- SBI Card PRIME: 10 points per ₹100 on dining and groceries, 2.5%
- IDFC FIRST Millennia: no fee, 10 points per ₹200 on dining
- HDFC Regalia Gold: one point is worth ₹0.15 to ₹0.65
- Data verified on 5 November 2026
The cards on this page
| Card | Fees | Headline reward | Best for |
|---|---|---|---|
| FIRST Millennia Credit Card IDFC FIRST Bank | Nil joining and annual | 5% value on hotel bookings via 'FIRST Rewards Gallery' in the IDFC FIRST Bank app | Lifetime free, Reward points, Dining and food delivery |
| FIRST Select Credit Card IDFC FIRST Bank | Nil joining and annual | 5% value on hotel bookings via 'FIRST Rewards Gallery' in the IDFC FIRST Bank app | Lifetime free, Reward points, Travel |
| SimplyCLICK SBI Card SBI Card | ₹499 + GST joining and annual | 2.5% value on online spends with exclusive partners: Apollo 24x7, BookMyShow... | Online shopping, Reward points, First card |
| Rewards Credit Card Standard Chartered | Nil joining, ₹1,000 + GST annual | Retail spends above Rs 20,000 in a statement cycle: Additional 4 bonus reward... | Reward points, First card |
| BOBCARD ETERNA BOBCARD | ₹2,499 + GST joining and annual | 3.75% value on online, international, dining and travel | Premium, Reward points, Travel |
| Platinum Maxima Plus Credit Card RBL Bank | ₹2,500 + GST joining and annual | 2.5% value on dining, entertainment, grocery and international purchases | Reward points, Dining and food delivery, Groceries |
| Regalia Gold Credit Card HDFC Bank | ₹2,500 + GST joining and annual | Myntra, Nykaa, Reliance Digital, Marks & Spencer: 5X Reward Points | Travel, Reward points, Premium |
| SBI Card PRIME SBI Card | ₹2,999 + GST joining and annual | 5% value on birthday spends | Premium, Reward points, Dining and food delivery |
| Diners Club Black Metal Edition Credit Card HDFC Bank | ₹10,000 + GST joining and annual | Weekend dining at standalone restaurants, Saturday and Sunday, non-EMI, minimum... | Super premium, Premium, Travel |
The short answer on reward points
A point is only worth what you can redeem it for, so we rank these cards in rupees, not points. On our ₹30,000 test month BOBCARD ETERNA earn the most in points, ₹7,560 a year at ₹0.25 each with its fee waived, SBI Card PRIME goes higher only if you use ₹4,000 of Pizza Hut vouchers, and IDFC FIRST Millennia is the strongest card with no fee.
How we chose
We took every active card in our data that pays in points rather than straight cashback, and kept those whose bank publish a rupee value for at least one redemption, because a point without a value can't be compared. Each was judged on points per ₹100 in its strong categories, the value per point, caps, the fee and its waiver, and how easy the points are to use.
Data comes from our card files, built from bank pages, MITCs and terms and verified on 5 November 2026. Fees are before 18% GST. No bank paid for a position here and the order are our own.
Left aside: HDFC INFINIA Metal is invite only, Axis Magnus doesn't state a catalogue value for its points, and the American Express Membership Rewards card is not accepting applications at present.
Nine reward points cards, by fee
Each pick come with the one number that decides it. Point values are the bank's own figure for the redemption named.
No annual fee
- IDFC FIRST Millennia, lifetime free: 10 points per ₹200 on dining, travel and your birthday and 3 per ₹200 elsewhere, at ₹0.25 a point, so 1.25% and 0.375%. Its deciding number is the ₹3 lakh yearly income floor, lowest on this list. Points now expire after 24 months.
- IDFC FIRST Select, lifetime free: the same earn as Millennia plus 1 domestic lounge visit a quarter, usable in the month after you spend ₹20,000. It need ₹12 lakh of annual income.
Fee ₹499 to ₹1,000
- SBI SimplyCLICK, ₹499, reversed on ₹1 lakh of yearly spend: 10 points per ₹100 at partners such as Myntra, Swiggy, BookMyShow, Cleartrip and Tata CLiQ, 5 on other online spends (up to 10,000 points a month) and 1 elsewhere. At 4 points to the rupee the partner rate is 2.5%, and ₹1 lakh of yearly online spend adds a ₹2,000 Cleartrip or Yatra voucher.
- Standard Chartered Rewards, no joining fee and ₹1,000 a year from the second year, reversed on ₹1,50,000: 4 points per ₹150 on all retail spends and 4 more on spend above ₹20,000 in a statement, up to 2,000 bonus points. That's 0.67% at ₹0.25 (₹1 per ₹150), rising to 1.33% (₹2 per ₹150) above the threshold, with no categories to track.
Fee ₹2,499 to ₹2,999
- BOBCARD ETERNA, ₹2,499, waived on ₹2,50,000 a year (the first-year fee also goes on ₹25,000 of spend in 60 days): 15 points per ₹100 on online, international, dining and travel, 3.75% at ₹0.25, capped at 5,000 points a statement cycle, and 3 elsewhere. Points never lapses and redemption is free. Income floor is ₹12 lakh net a year.
- RBL Platinum Maxima Plus, ₹2,500, charged as a annual fee from year one with no spend waiver: 10 points per ₹100 on dining, entertainment, groceries and international spends (2.5% at RBL's ₹0.25 example value), capped at 1,000 points a month, and 2 elsewhere. The milestones are the draw, 10,000 points each at ₹2 lakh, ₹3.5 lakh and ₹5 lakh of yearly spend.
- HDFC Regalia Gold, ₹2,500, waived on ₹4 lakh: 5 points per ₹200, and 5X at Myntra, Nykaa, Reliance Digital and Marks & Spencer. The number that decide it is the point value, ₹0.65 in HDFC's Gold catalogue but ₹0.15 as cashback. Income floor ₹1.5 lakh gross a month.
- SBI Card PRIME, ₹2,999, waived on ₹3 lakh: 10 points per ₹100 on dining, groceries, departmental stores and movies (2.5%, up to 7,500 points a month) and 2 elsewhere, plus a ₹1,000 Pizza Hut voucher for every ₹50,000 quarter.
Fee ₹10,000
- HDFC Diners Club Black Metal, ₹10,000, waived on ₹8 lakh: 5 points per ₹150, double on weekend dining at standalone restaurants, and points worth up to ₹1 each on SmartBuy flights and hotels, so up to 3.33% (₹5 per ₹150). Unlimited lounge access. It ask for ₹2.5 lakh of net monthly income.
A ₹30,000 month on every pick
The month: ₹9,000 of online shopping at Myntra, ₹6,000 at restaurants on weekends, ₹6,000 of groceries at a supermarket and ₹9,000 at other shops, so ₹3,60,000 a year (₹30,000 x 12). Points are valued at the bank's figure for statement credit or its usual redemption, and milestone vouchers are shown apart, so you can ignore them if not using.
| Card | Points a month | Value a year | Fee (GST extra) | Net a year |
|---|---|---|---|---|
| SBI Card PRIME | 1,560 | ₹4,680 plus ₹4,000 in Pizza Hut vouchers | ₹2,999, waived | ₹8,680 |
| BOBCARD ETERNA | 2,520 | ₹7,560 | ₹2,499, waived | ₹7,560 |
| RBL Platinum Maxima Plus | 1,360, plus 20,000 milestone points a year | ₹9,080 | ₹2,500, no waiver | ₹6,580 |
| SBI SimplyCLICK | 1,110 | ₹3,330 plus a ₹2,000 voucher | ₹499, reversed | ₹5,330 |
| HDFC Regalia Gold | 1,650 | ₹2,970 to ₹12,870 | ₹2,500, not waived | ₹470 to ₹10,370 |
| HDFC Diners Club Black Metal | 1,200 | up to ₹14,400 | ₹10,000, not waived | up to ₹4,400 |
| Standard Chartered Rewards | about 1,067 | ₹3,200 | ₹1,000, reversed | ₹3,200 |
| IDFC FIRST Millennia | 660 | ₹1,980 | Nil | ₹1,980 |
| IDFC FIRST Select | 660 | ₹1,980 | Nil | ₹1,980 |
How each line was worked out
- PRIME: restaurants and groceries, ₹12,000 at 10 per ₹100, give 1,200 points and the other ₹18,000 at 2 give 360, so 1,560; 18,720 a year is ₹4,680. Every quarter's ₹90,000 clears the ₹50,000 Pizza Hut milestone, four ₹1,000 vouchers a year, so ₹8,680 in all.
- ETERNA: online and restaurants, ₹15,000 at 15 per ₹100, give 2,250 points, under the 5,000 cap; supermarkets earn nothing; other shops add 270 at 3 per ₹100. 2,520 x 12 is 30,240 points, ₹7,560. Spend outside supermarkets are still ₹2,88,000 a year, so the waiver is met.
- RBL: restaurants and groceries would earn 1,200 points but the cap hold it at 1,000, and RBL doesn't say what the extra ₹2,000 earns, so we count nothing; the other ₹18,000 at 2 adds 360. 1,360 x 12 is 16,320, plus 20,000 milestone points at ₹2 lakh and ₹3.5 lakh, makes 36,320 points or ₹9,080, and ₹6,580 after the ₹2,500 fee.
- SimplyCLICK: Myntra ₹9,000 at 10 per ₹100 is 900 points and the offline ₹21,000 at 1 is 210. 1,110 x 12 is 13,320 points, ₹3,330, and ₹1,08,000 of yearly online spend pass the ₹1 lakh milestone, ₹5,330 with the voucher.
- Regalia Gold: Myntra ₹9,000 is 45 lots of ₹200 at 25 points (5X), 1,125, and the other ₹21,000 is 105 lots at 5, 525. 1,650 x 12 is 19,800 points: ₹12,870 at ₹0.65, ₹9,900 on flights and hotels at ₹0.50, ₹6,930 in vouchers at ₹0.35, or ₹2,970 as cashback at ₹0.15. ₹3,60,000 misses the ₹4 lakh waiver, so after the ₹2,500 fee it's ₹470 to ₹10,370.
- Diners Club Black Metal: weekend restaurants, 40 lots of ₹150 at 10 points, give 400; the other ₹24,000, 160 lots at 5, give 800. 1,200 x 12 is 14,400 points, up to ₹14,400 on SmartBuy, less ₹10,000.
- SC Rewards: ₹30,000 is 200 lots of ₹150 at 4 points, 800, plus about 267 bonus on the ₹10,000 above ₹20,000 (₹10,000 / 150 x 4). About 1,067 a month is 12,800 a year, ₹3,200 at the catalogue's ₹0.25 or ₹2,560 as bill credit at ₹0.20.
- Millennia and Select: restaurants, 30 lots of ₹200 at 10, give 300 and the other ₹24,000, 120 lots at 3, give 360. 660 x 12 is 7,920 points, ₹1,980.
So the free IDFC cards return about a quarter of what ETERNA does at this spend, and Diners Club Black Metal is weak until you reach ₹8 lakh a year and the fee go away.
Where reward points lose value
- One point, many prices. Regalia Gold's point is ₹0.65 in the Gold catalogue but ₹0.15 as cashback since 1 November 2025, and Standard Chartered Rewards pays ₹0.25 in its catalogue against ₹0.20 as statement credit. Always value a points at the redemption you will actually use.
- Redemption fees. IDFC FIRST, SBI Card (on statement credit) and Standard Chartered charge ₹99 a redemption, plus GST on most, RBL ₹99 plus GST per day of redemptions, and Regalia Gold ₹99 plus GST in the catalogue or ₹50 plus GST for cashback. ETERNA and Diners Club Black Metal charges nothing. Redeem in one go, not in small bits.
- Lots. Since 1 April 2026 SBI Card credits points to the bill only in multiples of 4,000, up to 60,000 a month.
- Expiry. SBI Card and RBL points last 24 months, Regalia Gold's 2 years and Diners Club Black Metal's 3 years. IDFC FIRST points, which never used to expire, now lasts 24 months from the July 2026 statement. ETERNA's are evergreen.
- Exclusions. ETERNA gives no points at supermarkets, fast food outlets (MCC 5814), transport or tolls, and fuel, rent and wallet loads earn nothing on almost every card here.
- Caps. SimplyCLICK stops 5X on other online spends at 10,000 points a month, PRIME's 10 points per ₹100 at 7,500, RBL's at 1,000 and ETERNA's 5X at 5,000 per cycle.
- Rule changes. IDFC FIRST Millennia and Select stopped points on international spends from 26 October 2026, credit points only on spends up to the credit limit, and reverse them if the minimum due is unpaid. Regalia Gold's base earn became 5 points per ₹200 on 15 May 2026, from 4 per ₹150.
- Interest. Most picks charge 3.75% a month and the IDFC cards 3.85%. A month's interest on ₹30,000 at 45% a year is about ₹1,109.59 (30 x ₹30,000 x 45% / 365), well above the ₹630 ETERNA earns in that month (2,520 x ₹0.25).
Which points card for which spender
- First card, income from ₹3 lakh a year, no fee wanted: IDFC FIRST Millennia.
- Same, with ₹12 lakh or more of income and a liking for lounges: IDFC FIRST Select.
- Most spending online at partner brands: SBI SimplyCLICK, the cheapest way for reaching 2.5%.
- Spends spread everywhere, above ₹20,000 a month, no wish to track categories: Standard Chartered Rewards.
- Online, dining and travel heavy, ₹12 lakh net income, groceries on another card: BOBCARD ETERNA.
- Restaurants and groceries, yearly spend above ₹3 lakh: SBI Card PRIME.
- Dining, groceries and entertainment, at least ₹3.5 lakh a year: RBL Platinum Maxima Plus, where two milestones pays ₹5,000 a year at RBL's value (20,000 x ₹0.25).
- Traveller who redeem on flights or the Gold catalogue, earning ₹1.5 lakh a month: HDFC Regalia Gold, ideally with ₹4 lakh of spend to waive the fee.
- ₹8 lakh or more a year and ₹2.5 lakh monthly income: Diners Club Black Metal.
To understand point systems before choosing, read reward points cards explained. Travellers can also check our travel card picks, and the credit cards hub covers every bank.
Eligibility before you apply
RBI sets no minimum income or age for cards. Banks set them, and they must assess your independent financial means, give a Key Fact Statement with the application and give written reasons if they decline.
- IDFC FIRST Millennia asks ₹3 lakh a year and IDFC FIRST Select ₹12 lakh, both from age 21.
- BOBCARD ETERNA wants ₹12 lakh of net annual income and age 21 to 60.
- HDFC Regalia Gold: gross monthly income above ₹1.5 lakh (₹1 lakh for government employees) or an ITR above ₹18 lakh. Diners Club Black Metal: above ₹2.5 lakh net a month or an ITR above ₹30 lakh.
- SBI Card publish no minimum income for SimplyCLICK or PRIME, prefers a score of 750 to 900 and shows the maximum age as 60 and as 70 on the same page.
- RBL publishes no age or income rules for Platinum Maxima Plus, and Standard Chartered asks for a stable income in its sourcing cities, with no online apply link for Rewards.
Approval is the bank's decision, whatever your spend plan look like on paper.
Pros and cons
Pros
- IDFC FIRST Millennia and Select earn points with no joining or annual fee
- BOBCARD ETERNA's points never lapse and cost nothing to redeem
- SBI Card PRIME pays 2.5% on dining and groceries, up to 7,500 points a month
- Milestones add real value, such as 20,000 RBL points by ₹3.5 lakh of yearly spend
- HDFC Regalia Gold points reach ₹0.65 each in HDFC's Gold catalogue
Cons
- The same Regalia Gold point is worth ₹0.15 or ₹0.65 depending on how you redeem
- Most picks charge ₹99 per redemption, usually plus GST
- BOBCARD ETERNA earns nothing at supermarkets or fast food outlets
- IDFC FIRST points now expire after 24 months and stopped on international spends from 26 October 2026
- RBL Platinum Maxima Plus has no fee waiver at any spend
Frequently asked questions
How much is one credit card reward point worth?
It depends on the card and the redemption. SBI Card gives ₹1 for 4 points as statement credit, IDFC FIRST values a point at ₹0.25, and Standard Chartered Rewards pays ₹0.25 in its catalogue but ₹0.20 as bill credit. HDFC Regalia Gold ranges from ₹0.15 as cashback to ₹0.65 in its Gold catalogue, more than four times as much for the same point.
Which reward points credit card has no annual fee?
IDFC FIRST Millennia and IDFC FIRST Select are lifetime free, with nil joining and annual fees in the MITC and no spend condition. Both pay 10 points per ₹200 on dining, travel and your birthday and 3 elsewhere, at ₹0.25 a point. Millennia asks for ₹3 lakh of yearly income and Select ₹12 lakh, and approval is the bank's decision.
Are reward points better than cashback?
Points can be worth more when redeemed well, for example HDFC Regalia Gold points at ₹0.65 in the Gold catalogue against ₹0.15 as cashback. They also bring redemption fees of about ₹99, minimum lots and expiry dates. Cashback is simpler, because ₹1 of cashback is always ₹1 off the bill.
Do credit card reward points expire?
Most do. SBI Card and RBL points last 24 months, HDFC Regalia Gold points 2 years and Diners Club Black Metal points 3 years. IDFC FIRST points, which used not to expire, are valid for 24 months from the July 2026 statement cycle. BOBCARD ETERNA is the exception on this page: its points do not lapse.
What changed for reward points cards in 2026?
HDFC moved Regalia Gold to 5 points per ₹200 from 15 May 2026. IDFC FIRST Millennia and Select stopped earning on international spends from 26 October 2026 and gave points a 24-month life. SBI Card credits points to the bill only in lots of 4,000 since 1 April 2026, and BOBCARD raised ETERNA's interest to 3.75% a month from 15 July 2026.
Is a ₹10,000 card like Diners Club Black Metal worth it for points?
Related
- Reward Points Credit Cards Explained: What a Point Is Really Worth
- Best Travel Credit Cards in India 2026: Eight Cards Worked Out in Rupees
- BOBCARD Eterna Credit Card Review: 3.75% Online Earn, 2% Forex
- SBI Card PRIME Review: 2.5% on Dining and Grocery, 12 Lounge Visits
- FIRST Millennia Credit Card Review: Free for Life, 10X on Food and Travel
- Credit Cards in India 2026: Choose by Spend, Know the Costs and Rules
Sources
- IDFC FIRST Bank: Most Important Terms & Conditions - Credit Cards (MITC and Schedule of Charges); FIRST Millennia Credit Card bonus reward points on travel bookings (T&C)
- SBI Cards and Payment Services Ltd: Most Important Terms & Conditions (PDF 'MITC- Common-30OCT26', Ver FY 27, 16); SimplyCLICK Reward Point T&C
- Standard Chartered Bank (India): Standard Chartered Rewards Credit Card Terms and Conditions; Credit Card Fees & Charges - Tariffs and Charges
- BOBCARD Limited: Key Fact Statement (KFS), dated 17 Jul 2026; BOBCARD Consolidated MITC
- RBL Bank: Schedule of Charges (RBL-CC-SOC-V2-04-06-2026)
- HDFC Bank: Part I Key Fact Statement cum Most Important Terms and Conditions (MITC), English, Version 4.18
Last verified: 5 November 2026
Written by Rashmi Mandana, reviewed by BankCreds Financial Experts
BankCreds does not sell cards or take applications. Fees and rewards change; the bank's own terms on the day you apply are what count, and approval is the bank's decision.