March 17, 2025 · 12 mins read
Santosh Kumar
Credit cards are a strong financial instrument, providing convenience, rewards, and flexibility. Based on a lot of factors that will be discussed further you can choose a range of credit cards which fulfill different spending needs and which would be the best credit card for 60000 salary. You are a cashback, travel, fuel, shopping, or lifestyle card holder, and choosing the best credit card can save you the most and provide a better financial experience.
For regular consumers, cashback cards and reward points give discounts on groceries, food, and online shopping. For frequent flyers, a product like a travel card offers air miles, lounge visits, and hotel discounts. Fuel cards are employed to conserve fuel prices in terms of cashback and removal of surcharges. Lifestyle cards offer benefits like concierge, airport lounge visits, and restaurant discounts.
With the right credit card, you can maximise your spending, earn special benefits, and achieve greater financial freedom.
Convenience: Who wants to carry wads of money when you can pay with the easy swipe of your card? A Credit Card is one of the easiest ways to pay for anything – no need to count out change or write cheques anymore, just show the plastic!
Recurring payments: Although Credit Cards are excellent for one-off payments, you can also arrange for them to make automatic recurring payments like your phone, electricity or gas bills. No more will there be a likelihood of not remembering to pay bills on time and incurring penalties or disconnection.
Tickets and recharges: One of the largest Credit Card advantages over cash is the provision to buy online services from a larger scope of services. You cannot purchase tickets for flight with cash on delivery or top-up your phone's mobile recharging with cash. You can just pay them easily using a Credit Card.
Interest-free credit: A Credit Card has a grace period from purchase to payment (may be as much as 50 days) where the bank does not charge anything. This is a classic example of buy now and pay later.
Rewards: With each payment made through a Credit Card, you get Rewards. You can use these rewards to avail of thrilling gifts and vouchers like free shopping holidays or even free air tickets. Cashbacks and discounts: Ranging from waivers of fuel surcharges to amazing online shopping offers, Credit Card is your key to an array of Cashbacks promotions and Reward Points, particularly with chosen offline and online merchants.
In the case of a Credit Card, the question most frequently asked is how to calculate its credit limit. There is no fixed Credit Card limit calculator available in India to calculate the credit limit, but knowing the factors that decide the credit limit can give you an estimate of the possible limit. Each Card issuer will have its own set of rules for determining the credit limit. There is no standard thumb rule that is why there are no calculators specifically for calculating Card limit. You can try a few things yourself to estimate what limit you are likely to get from your next Credit Card. This can put you in a position to make a better and more accurate estimation yourself. How do I calculate my probable credit limit for a 60000 salary?
Since there is no definite method to arrive at a credit limit, the procedure to derive a credit limit would also differ from Credit Card issuer to issuer.
Although Credit Card issuers do have their own individual policies with regard to credit limits, some general factors contribute heavily to the determination of your credit limit. They are:
Credit History: Your credit history, such as repayment history, outstanding balances and credit inquiries, can affect your credit limit. Having a good credit history with on-time payments and judicious borrowing can enhance your chances of getting a higher credit limit. Being a good credit risk with a credit score of over <750> from top-rated credit bureaus such as CIBIL is always beneficial.
Income: In most cases, your credit limit is directly proportional to your income. Higher-income levels generally result in higher credit limits. The frequency of your income and its stability can also influence your credit limit. Even the nature of your job or business can influence this.
Card Provider: Various Credit Card providers can provide different credit limits, even though you submit the same details in different applications. If you have a good track record with one provider it can result in a higher credit limit than for new applicants.
Planning your Credit Card EMI is made simpler by the Credit Card EMI Calculator. It makes budgeting your outgoings easier by providing the below features:
Choose the EMI type: Select Instant EMI or On-call EMI.
Enter the Transaction Amount: Fill in the amount you want to convert to EMI.
Choose the Tenure and Interest Rate: Personalise the repayment period and interest rate based on your choice.
Get the EMI details: The calculator returns you the monthly EMI value, interest paid, and the total amount to be paid.
You will receive a full representation of the total EMI expenditure. You may opt to see the repayment schedule in Table or Graph mode.
Card providers have their own unique algorithms to determine credit limits. To check your credit limit, you can simply contact your Card issuer or refer to the documentation provided when you opened your Card account.
While applying for a new Credit Card or requesting a credit limit increase, Card issuers take several points into consideration before deciding. Some of those important factors are:
Monthly income: Your monthly income plays a significant part in deciding your credit limit.
Creditworthiness: Your credit score and credit history reflect your creditworthiness. Employment status: Full-time, part-time or self-employed status may impact the decision of credit limit.
Residential status: Whether you are a homeowner, a renter, or a boarder can affect your credit limit.
Card type: Various Card levels like Silver, Gold or Platinum can have various credit limits. History with the provider: A good history with the Card provider can result in a higher credit limit.
For majority of salaried people, Amex is a dreams card. to benefit from this card, you must earn a minimum of ₹6 lakhs annually.
If you avail the card through a referral link, the joining charge of ₹1,000 is exempted. the renewal fee is ₹1,500 from the second year, which you will not need to pay if you spend above ₹1,50,000. if your spending crosses ₹90,000, the fee is reduced to ₹750.
If you receive the card from the bank, renewal charge is zero if you make a spend of over ₹1,50,000 and ₹2,250 if you spend over ₹90,000 in a year. otherwise, it will cost ₹4,500.
You can obtain this widely accepted credit card if you earn at least ₹7 lakh per annum. This card involves a joining and renewal fee of ₹2,500. however, it rewards you by offering 2,500 reward points of ₹1,250. no renewal charge if you spend ₹3 lakhs or more in a year.
This card is your best option if you are an online shopping enthusiast. To avail this card, you must have a minimum monthly income of ₹30,000 per month. along with this, you're waived off the joining and renewal fee of ₹500 if you spend ₹1 lakh within a year.
The card has a joining and renewal charge of ₹3,000 annually. However, it also offers you a welcome gift of the same value. Most importantly, the renewal charge is zero if you spend ₹3 lakh within a year. The reward points system has three categories of reward points - regular, milestone, and accelerated. Here's how they function.
The card also offers other advantages, such as club Vistara silver membership, BookMyShow advantage, and Trident privilege red tier membership.
Lock in your expenses with a credit card that has no joining or renewal fee. Additionally, you receive a 2000-dollar voucher on the first transaction. Let's examine the other benefits and features of this best-selling card.
While you cannot eliminate your fuel expenses altogether, this card enables you to make the most of your spending. The sole rider is to pump fuel at an IndianOil outlet. This card provides you with 5% returns on your fuel spending, a 2.5% surcharge waiver, and 2.5% cashback. It has a joining fee of ₹1,000, and you will not need to pay any renewal fee if you spend ₹30,000 within a year. For each ₹150 you spend on fuel, you get 4 turbo points. Each turbo point is equivalent to ₹1 of fuel.
If you shop a lot on Amazon, this card is ideal for you. There are even additional benefits for prime members, and it charges no annual or renewal fee.
If you cannot monitor reward points, here is the best option for you. This Citibank credit card provides straight cashback on all your spending. For your spending on movie tickets, telephone, and other utility bills, you receive 5% cashback. For everything else, you receive 0.5% cashback. You can acquire the card with a joining and annual fee of ₹500. Further, Citibank also has a tie-up with a number of restaurants where you get a discount of 15%.
If you enjoy the experience of having a secured credit card while traveling, this card provides you with good rewards and even becomes a good credit score builder.
This card is a dream come true for travellers since the miles never expire. It has an annual fee of ₹3,000 and a welcome gift of 10,000 miles. You get 3,000 miles for each of your card's future renewals.
Selecting a credit card calls for proper scrutiny of numerous variables such as eligibility, expenditure behaviour, charges, rewards, rate of interest, and other specifications. With a monthly income of ₹60,000, you can apply for various credit cards of different specifications depending on your requirements. Analyse your financial goals and choose one that offers the highest benefits at the least cost.
The right credit card can maximise your spending, provide special benefits, and improve your credit score. Shop around, read the terms and conditions, and make the most of your credit card to have financial freedom and long-term benefits.
All major banks provide a 2-3 months' salary limit, i.e., ₹1.2-₹1.8 lakh. But it will ultimately depend upon your credit history and credit score.
If you maintain them properly, they can work in your favour since a greater combined credit limit decreases your credit utilisation ratio. However, late payments or too many applications can negate your score.
What is the best credit card offered by which bank for first-time users? HDFC Millennia, Amazon Pay ICICI, and SBI SimplyCLICK are excellent beginning cards.
The average annual income requirement for salaried and self-employed individuals is between Rs. 144,000 and Rs. 25,000,000. However, each bank has its own eligibility criteria depending on the credit card type.
Many credit cards are available from various banks throughout the country. For people in this situation, low-income credit cards are ideal. A low-income credit card provides numerous benefits, such as lower annual fees, reward points with every purchase, and fuel benefits. These cards are also excellent for establishing credit and improving credit scores, which can lead to better financial opportunities in the future. However, they must be used responsibly to avoid accumulating debt that cannot be paid off.
Many banks in the country offer credit cards to low-income people. You can apply for a low-income credit card at any bank branch. An application form, as well as all required documents, must be submitted. The credit card will be sent to you after the bank verifies the application form and documents.
The highest limit in India for a ₹60,000 salary normally extends to ₹1.5 lakhs if the issuer follows the 3X calculation. But this is also based on your:
1: Age
2: Credit score
3: Current responsibilities
4: Debt-to-income ratio
5: Credit usage ratio
In India, the minimum credit limit is usually twice your monthly salary. However, it also depends on your creditworthiness, existing debt and income.
Credit Cards can provide coverage for delays or loss of checked-in luggage, flight delays, loss of travel documents, and air accidents.
The use of a Credit Card enables users to make payments online and offline without immediately draining their savings.
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