Best Cashback Credit Cards India 2026 — Earn Up to 5% on Every Spend

By FinMandi TeamMay 202610 min read✓ 2026 Updated

Top Cashback Cards 2026

Best flat cashback: Axis Ace — 2% on ALL spends, 5% on utility bills via Google Pay
Best online cashback: HDFC Millennia — 5% on Amazon, Flipkart, Myntra, Swiggy
Best free card cashback: Amazon Pay ICICI — 5% Amazon Prime, 2% other, zero annual fee
Best bank cashback: SBI Cashback Card — 5% on online, 1% on all other spends
Avoid: Reward points that expire — cashback is always better than points

📊 Cashback Rate Comparison

Card	Online Cashback	All Spends	Annual Fee	Monthly Cap
Axis Ace Best Flat	2%	2%	Rs 499*	No cap
SBI Cashback Card	5%	1%	Rs 999*	Rs 5,000/month
HDFC Millennia	5%	1%	Rs 1,000*	Rs 1,000/month
Amazon Pay ICICI	5% (Amazon)	1-2%	Zero	No cap
Flipkart Axis	5% (Flipkart)	1.5%	Rs 500*	No cap

💡 Smart combo strategy: Use Amazon Pay ICICI for Amazon purchases (5%) + Axis Ace for everything else (2% flat) + Axis Ace for utility bills on Google Pay (5%). This combo maximises cashback across all spending categories with zero or minimal annual fee!

Also read: All Best Credit Cards 2026 · Best Cards for Online Shopping · Lifetime Free Cards

🎯 Check eligibility before applying: Credit Card Eligibility Calculator → See which cashback cards you can get approved for.

Disclaimer: Cashback rates as of May 2026. Subject to change by card issuer. Check T&C before applying.