Methodology

Every number on this site comes from one calculator. This page states what it does and where it is approximate.

Steps

1. Spend by category. You enter monthly spend in 12 categories. Annual spend is 12 times that.
2. Rate per category. We look up the card's reward rate for each category (points per ₹100). Categories a card excludes earn zero.
3. Merchant and portal limits. Many "5%" or "10%" rates apply only at named merchants or through a bank portal. Those rates are applied to a share of the category spend (25% unless a card states otherwise); the rest earns the card's normal rate. Portal-only rates count only if you tick the portal option.
4. Caps. Monthly, quarterly or yearly caps are converted to a yearly limit and shared across categories that use the same rule. Spend beyond a cap on an accelerated rate earns the card's base rate; if the capped rule is the base rate itself, spend beyond the cap earns nothing more. Where one cap covers several rules, they share it. A few rules apply only above a monthly spend (for example a higher tier that needs statement spend above ₹15,000); below that gate the card's lower rate is used. Where a cap exists but its amount was not published, we assume none and mark the card "partly verified".
5. Point value. Points are converted to rupees at a best-case value (for example 1 point = ₹1 for flights on the bank's portal, ₹0.25 for most statement credit), so rankings are best-case by default. The conservative setting uses the card's lower stated value where we have one, otherwise 60% of the best-case value for points cards, and leaves cashback unchanged.
6. Milestones. A milestone counts if your eligible spend (spend in categories that earn points) reaches the threshold in that period. Cash and points benefits count at their stated value; vouchers count at 50% of face because they are not cash. One-time bonuses, such as a welcome benefit for spending in the first 90 days, are not counted in the yearly figure. Treat the total as an upper bound.
7. Lounge. Optional. Domestic visits are valued at ₹750 each and international at ₹1,500 by default in the calculator (best-of lists count domestic visits only); many people use fewer than they have. "Unlimited" access is counted as 12 visits a year. Where a card needs a minimum spend in the previous quarter to unlock visits and we know the amount, visits count only if your eligible spend reaches it.
8. Fee. Annual fee unless your eligible annual spend (spend in categories that earn rewards) reaches the card's stated waiver threshold. Fees exclude 18% GST. Where a card charges its own fee on rent payments (usually 1%), we subtract it with 18% GST added. Joining fees and welcome benefits are not included in net value; "lifetime free" lists require both fees to be nil.
9. Net value = rewards + milestones + lounge − fee. Effective return = net ÷ annual spend.

What it does not model

• Goods and services tax on fees, interest, late fees, forex mark-up and surcharges.
• Reward-point rounding, expiry, minimum redemption blocks and devaluations after the date shown on the card.
• Rankings on best-of lists leave out cards whose data we could not verify at all ("needs verification"), cards that are closed to new applicants, and cards whose best rates depend on a payment channel or spend gate we cannot verify (Jupiter Edge+ and Kiwi, which appear only on the RuPay list and are not ranked in the calculator either). Invite-only and waitlisted cards are also left out, except on lists that say they include them (Premium).
• Rates that depend on how you spend within a month, such as OneCard's 5X on your top two categories or IndusInd Legend's doubled weekend points, are described on the card page but not counted in net value, so the figures stay traceable to a rule that applies to every cardholder.
• Reward programme fees and joining-fee offers: net value includes the annual fee but not joining fees, welcome vouchers or redemption fees such as ₹99 per request.
• Salary-band lists leave out cards whose published minimum income is above that salary; other lists do not filter by income, and approval is always the issuer's decision.
• Which individual merchants you use inside a category (hence the share assumption above).
• Whether you will be approved, or at which credit limit.

Sample profiles

Card and "best for" pages use these fixed monthly profiles so results are comparable. They are illustrative profiles we chose, not survey averages: we have not found a free, primary source that splits Indian card spend into these categories, so the category mix is our assumption. Each "best for" page states its own profile above the ranking, and the calculator lets you replace all of it with your own numbers.

Data quality

Where official bank pages could not be read, we used comparison sites and say so on the card. See the editorial policy. If you find a mistake, tell us.