Indian credit card market report, Q4 2026
319 personal credit cards from 17 banks and card issuers, counted from each bank's own fee schedule and terms. Business cards are left out.
Key findings
- 57 of 317 cards with published fees (18.0%) charge neither a joining nor an annual fee.
- The median annual fee is ₹500; the average is ₹2,489 because a few super premium cards charge ₹10,000 or more.
- 183 of 250 cards with an annual fee (73.2%) waive it once you spend a set amount in a year.
- 197 of 294 cards with a published forex markup (67.0%) charge 3.5%, about 4.13% with GST; 26 charge nothing.
- 165 cards (51.7%) list free airport lounge visits.
- 65 of 205 cards with a known network (31.7%) can be issued on RuPay, which lets them pay through UPI.
Annual fees
| Annual fee | Cards | Share |
|---|---|---|
| No annual fee | 67 | 21.1% |
| ₹1 to ₹999 | 120 | 37.9% |
| ₹1,000 to ₹2,999 | 70 | 22.1% |
| ₹3,000 to ₹9,999 | 43 | 13.6% |
| ₹10,000 and above | 17 | 5.4% |
Forex markup
| Markup before GST | Cards | Share |
|---|---|---|
| 0% | 26 | 8.8% |
| Above 0% to 1.99% | 27 | 9.2% |
| 2% to 3.49% | 44 | 15.0% |
| 3.5% | 197 | 67.0% |
| Above 3.5% | 0 | 0.0% |
Card networks
Cards with a known network only (205). A card offered on two networks counts under both.
| Network | Cards | Share |
|---|---|---|
| Visa | 111 | 54.1% |
| Mastercard | 67 | 32.7% |
| RuPay | 65 | 31.7% |
| Amex | 11 | 5.4% |
| Diners | 3 | 1.5% |
Card types
| Type | Cards | Share |
|---|---|---|
| Rewards | 58 | 18.2% |
| Entry level | 51 | 16.0% |
| Travel | 48 | 15.0% |
| Premium | 41 | 12.9% |
| Cashback | 39 | 12.2% |
| Super premium | 27 | 8.5% |
| Shopping | 24 | 7.5% |
| Fuel | 15 | 4.7% |
| Secured (FD backed) | 9 | 2.8% |
| Dining | 6 | 1.9% |
| Other | 1 | 0.3% |
Cite this report
Free to use with credit under CC BY 4.0: "Saifu, Indian credit card market report Q4 2026, https://saifu.in/credit-card-market-report/". The figures update when the card data changes; the date above shows the version.
Related: best cards by type, credit card changes tracker, lounge access.
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