8 Best Credit Cards for Buying Gold Jewellery in India

A lot of people now prefer buying gold online, including coins, pendants, and other jewellery. Some also buy silver coins, bars, or jewellery from sites like Amazon, Tanishq.com, and Bluestone. If you’re one of them, you’ll want to get the best discounts or offers possible. While credit cards generally don’t offer rewards on jewellery, some do. Here are the best credit cards for purchasing gold and silver jewellery online in India.

1. HDFC Tata Neu Infinity Credit Card

This popular card offers 5% NeuCoins back (1 NeuCoin = ₹1) on gold, silver, or any jewellery from Tanishq on the Tata Neu app. These NeuCoins can be redeemed for purchases on partner Tata brands. However, this cashback is capped at ₹30,000 per month (that is 5% on ₹6 lakh).

The card typically has an annual fee of ₹1,499 + GST, but it is currently being offered with the first year free for a limited time. Some users may receive it lifetime free based on the bank’s internal criteria. It generally offers an additional 5% cashback with NeuPass membership, but this extra discount is not valid on Tanishq, as mentioned on HDFC Bank’s page.

It’s worth mentioning that the HDFC Tata Neu Infinity is also one of the best RuPay credit cards for UPI payments in India.

2. HDFC Tata Neu Plus Credit Card

The HDFC Tata Neu Plus card offers a slightly lower, yet still attractive, reward on purchases of gold or silver jewellery from Tanishq via the Tata Neu app. You earn 2% back in NeuCoins on Tanishq purchases with the NeuPlus card. Treat these coins like rupees, as they can be easily redeemed for groceries, shopping, flight tickets, and even jewellery from partner Tata brands.

It has a similar monthly cap as the Infinity variant and the maximum you can earn is 2% on ₹6 lakh per month, which is ₹12,000. It’s worth mentioning that the card, like the Tata Neu Infinity, is available in both RuPay and Visa variants.

The card carries a joining and annual fee of ₹499 + GST, currently waived for the first year as a promotional offer. This card is generally easier to obtain with a lifetime free benefit.

3. Titan SBI Card

SBI Card recently partnered with Tata to launch its Titan SBI Credit Card. It gives you 3% value back on Tanishq jewellery purchases in the form of gift vouchers, redeemable only at Tanishq stores. On the other hand, purchasing jewellery at Mia, CaratLane, and Zoya accrues a 5% cashback. Additionally, there’s a 7.5% cashback on purchases made at World of Titan, Taneira, Titan Eye+, Helios, Fastrack, Skinn, Irth & Sonata.

All cashback is auto credited to the cardholder’s account within 5 working days of the next statement generation and is subject to a quarterly cap. The Titan SBI Card is a great option for those who frequently shop at Titan, Tanishq, and its partner brands. The cashback and value back percentages are quite generous, and the additional benefits make it a valuable card for regular Tata jewellery brand customers.

4. Amazon Pay ICICI Credit Card

Besides offering up to 5% unlimited cashback on Amazon shopping, the Amazon Pay ICICI Credit Card gives you a flat 1% cashback on all other offline and online purchases. Thankfully, this cashback is valid on gold and jewellery, as long as it’s not purchased on Amazon.

This means if you use your Amazon Pay ICICI credit card at a local jewellery store, Tanishq store (online or offline), Kalyan Jewellers, or any other gold/silver retailer, you’ll be eligible for 1% cashback, which gets credited to your Amazon Pay balance. Several users online have reported receiving the cashback for purchases from jewellery stores in Delhi and Chennai (GRT Jewellers), and it just works.

5. HDFC Infinia Credit Card

Unlike many other cards, HDFC Infinia doesn’t exclude gold and jewellery purchases from its cashback rewards. That’s right, you can earn a flat 3.33% cashback on every rupee you spend on gold or any other kind of jewellery with your HDFC Infinia card. This can translate to significant savings, especially on larger jewellery purchases.

HDFC Infinia cashback can be redeemed as Reward Points on the SmartBuy platform for booking flights, hotels, buying Apple products or Tanishq vouchers. Alternatively, cashback can be redeemed through Netbanking for cash credit or air miles conversion.

6. HDFC Millenia Credit Card

HDFC Millenia gives you 5% rewards for shopping online on Amazon. Alongside, it also gives you 1% cashback on on all other spends (except Fuel) including EMI & Wallet transactions. That means you essentially get 1% back when purchasing gold jewellery with this credit card.

However, maximum cashback per cycle has been capped to ₹1000 per statement which means it’s wise to use this card for buying a maximum of ₹1 lakh gold each month. It’s not the best reward rate neither the highest amount but it’s still some cashback.

7. Amex Smart Earn Credit Card

If you use an Amex Smart Earn credit card at a gold jewellery store or retailer, you earn 1 Membership Rewards point for every ₹50 spent, with no cap on points earned in this category. Typically, each point is worth around ₹0.25-₹0.50 when redeemed for statement credits, merchandise, or gift cards.

However, you can often get a higher value per point (around ₹0.75-₹1.00 or more) by transferring points to airline or hotel partners. Amex also occasionally offers special deals or promotions that can increase the value of your points even further.

8. Amex Gold Charge Credit Card

Amex Gold Charge is very similar to Amex Smart Earn in terms of rewards on jewellery. Like the Smart Earn card, you earn 1 Membership Rewards point for every ₹50 spent at jewellery stores, be it online or offline.

The net reward rate can range anywhere between 0.5-1%, based on how and where you redeem it. Each point is typically worth ₹0.25-₹0.50 when redeemed for statement credits, merchandise, or gift cards. However, you can often get a higher value per point (around ₹0.75-₹1.00 or more) by transferring points to airline or hotel partners. Amex also occasionally offers special deals or promotions that can increase the value of your points even further.

Bonus: Vistara Credit Cards: SBI, Axis, and IDFC

SBI, Axis, and IDFC First Bank all currently offer credit cards partnered with Vistara airlines. These credit cards offer milestone-based free flight tickets. While these aren’t direct cash rewards on purchasing jewellery, you can earn a free flight ticket by reaching the spending milestones, regardless of what you purchase including jewellery.

Here are some examples:

• Club Vistara SBI Card: Get 1 Economy class ticket each on annual spends of ₹1.25 lakh, ₹2.5 lakh, and ₹5 lakh.
• Axis Bank Vistara Signature: Get up to 4 complimentary Premium Economy ticket vouchers on achieving milestone eligible spends, including ₹1.5 lakhs, ₹3 lakhs, ₹4.5 lakhs, and ₹9 lakhs.
• IDFC FIRST Bank Club Vistara: Get 1 Premium Economy ticket on joining + up to 5 Premium Economy tickets on spends of ₹1.5 lakh, ₹3 lakh, ₹4.5 lakh, ₹9 lakh, and ₹12 lakh.

So, What’s the Best Card for Buying Gold in India?

If you’re a Tanishq loyalist and love shopping on the Tata Neu app, the HDFC Tata Neu Infinity Card is a no-brainer. It gives you a whopping 5% back on all your Tanishq bling. But if you’re on a budget, the HDFC Tata Neu Plus Card is a great alternative, offering 2% back on Tanishq purchases.

Frequent shoppers at Titan, Mia, CaratLane, or Zoya should definitely check out the Titan SBI Card. The cashback rates are pretty generous, ranging from 3% to 7.5%, depending on the brand. For smaller jewellery purchases and everyday spending, the Amazon Pay ICICI Card or HDFC Millenia Card can be good options, giving you 1% back on all purchases (with some restrictions).

High rollers who love to travel might find the HDFC Infinia Card or Amex cards more appealing. The Infinia offers a flat 3.33% cashback on jewellery, while Amex cards give you MR points that can be redeemed for travel or other perks. Do consider your shopping habits, reward preferences, and budget before making your final decision. Don’t forget to compare the annual fees and other benefits of each card before applying. Happy shopping!

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