Best Fintech Credit Cards 2024

Fintech companies in India have developed a range of lending products, including instant personal loans and BNPL (Buy Now Pay Later) services like Paytm Postpaid, Amazon Pay Later, Ola Money Postpaid, LazyPay, and many more, as Indian consumers gradually get used to digital payments, especially since demonetization in 2016. Offering real payment cards against a line of credit that functions almost exactly like a credit card, some fintechs have elevated the BNPL concept to a whole new level. Since the majority of these businesses aren’t NBFCs with registration, these BNPL cards are provided in association with a financial partner, such a bank or NBFC.

BNPL cards can be used at any retail location, online or off, that takes Visa/MasterCard credit or debit cards. They are issued on payment networks similar to those used for credit cards. Additionally, these BNPL cards allow you to earn cashback or reward points.

The primary characteristic that sets these BNPL cards apart from conventional credit cards is their ability to let you divide your monthly expenses into installments that you may pay back over the course of the next few months. Slice Super Card and UNI Card are two examples of well-known fintech BNPL cards.

Some entrepreneurs have introduced BNPL cards, but others have worked with a bank or NBFC to provide a conventional credit card. One Card is one such credit card. The Gild Credit Card from SMB Bank is another recent addition to the fintech market; it provides you with digital gold in exchange for your spending. This secured card, guaranteed by the Federal Reserve, provides about 16% annual returns on your investments in addition to 7.7% annual interest. In addition to learning the main distinctions between conventional credit cards and these cutting-edge BNPL cards, we will also explore the characteristics and advantages of three of the most well-liked fintech cards in this post.

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List of Best Fintech Credit Cards in India 2024

Bajaj Finserv RBL Bank Binge SuperCard
Gild Credit Card
OneCard Credit Card
Slice Super Card
Uni Pay 1/3rd Card
Scapia Federal Credit Card

In collaboration with their banking partners, which can be either an NBFC or a regular bank, several fintech companies have developed their own BNPL Cards as well as standard credit cards. The salient features of three of the most well-liked fintech credit cards have been discussed here. Click or touch the “More Info” button located beneath the card you’re interested in learning more about in the above list to read a thorough analysis of that particular card.

Slice Super Card

As you can see, Slice Super Card is a BNPL card that the fintech firm Slice introduced in 2019 in association with SBM Bank, their banking partner. Because monthly spending on the card can be divided into three equal payments to be paid over the following three months, the card is named “Slice.” The following are a few of the Slice Card’s primary features:

The total spends on the card can be split into interest-free EMIs to be paid over the next three months.

You can also split your card bill with your friends.

You get a cashback of up to 2% on all transactions made with your Slice Super Card. The cashback is credited as monies (Slice’s equivalent of Reward Points), which can be redeemed against cashback. The rate of redemption depends upon the number of monies in your account at the time of redemption.

Easy application process via app/website and easy approval as no credit score is required.

The card is issued on the Visa platform and is therefore accepted by all merchants that accept Visa credit/debit cards.

Slice Card can not be used for cash withdrawals at ATMs or for making international transactions.

Gild Credit Card

Unlike any other credit card, the SBM Bank Gild Card rewards your spending with digital gold. It is a secured card, and in order to obtain one, you must fund an account with at least Rs. 10,000. You receive an interest rate of 7.7% annually along with a credit limit of 90% of the deposit amount. Additionally, you receive up to 0.75% in digital gold back for each purchase, and the card yields around 16% yearly returns on your investment.

Lifetime free card without joining and annual fees

Instantly open FD without the need for a savings account

The high-interest rate of 7.7% p.a. on the deposit amount

Earn 0.75% back as digital gold per transaction

Free metal card holder

Up to 8% returns in digital gold per year

No income proof or credit check required

UNI Card

Additional BNPL cards include UNI Card and UNI Pay 1/3rd Card. The Slice Super Card and the UNI Card are extremely similar in that they both let you divide your monthly spending into three equal payments that may be made over the course of the following three months. One feature that sets UNI Card apart from Slice Card is that if you pay off your entire bill in one installment, you will receive a flat 1% cashback on UNI Card (no cashback is earned if the bill is split into EMIs). With Slice Card, you can earn up to 2% cashback (not flat 2%–cashback depends upon the amount of money in your account at the time of redemption as cashback).

UNI Card was launched in 2021 in collaboration with RBL Bank, SBM Bank and LiquidLoans (NBFC partner).

The card is issued on the Visa payment network and is accepted by 99.99% of the merchants- both online and offline- that accept Visa credit/debit cards.

You can pay your UNI Card bill in three interest-free installments, to be paid over the next three months.

If you pay your entire bill by the payment due date in a single instalment, you get a cashback of 1% of the total billed amount. No cashback benefit is applicable if the bill is split into installments.

Just the Slice Super Card, the UNI Card also can not be used for making international transactions or for ATM cash withdrawals.

One Card

Launched in March 2019, One Card is a standard credit card by FPL Technologies. You cannot divide your One Card bill into interest-free installments because it is a credit card, in contrast to BNPL cards like Slice Card and UNI card. The following are a few of the One Card Credit Card’s salient characteristics:

Lifetime free credit cards issued in partnership with banking partners, including IDFC FIRST Bank, Federal Bank, BOB Financial, SBM Bank and South Indian Bank.

You get 1 Reward Point per Rs. 50 spent with One Card and 5x Reward Points on the top two spend categories of the month. One Reward Point is equivalent to Rs. 0.10 in monetary terms.

You are charged a lower mark-up fee of just 1% on making foreign currency transactions with the card.

In case you default on a bill payment, the interest rate applicable is just 2.5%- lower than the industry standard of 3.5%.

How to Choose the Right Fintech Card?

When choosing a Fintech Card, the very first thing to check is the reward rate. If you spend a lot, then going with a card that offers a higher reward rate or instant cashback would be a wise choice.

The very next important thing to check in a Fintech card is the interest charges applicable on the due amount. Well is it advisable to settle the bills on time, but in case you default on a payment then you would face heavy charges on the due amount. Therefore, go with a card that carries lower finance charges.

Also, look for other benefits provided with the card and compare them with other card features. If you are getting the right benefits from the right card then go for the same.

Best Fintech Credit Cards 2024