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Credit Card Scoring and Ranking

A scoring system to refine your credit card search, maximise benefits, and assess how well your cards match your needs.

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Best Credit Cards in India

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What is 1 Finance Score?
The 1 Finance score quantitatively evaluates credit cards on various parameters, assigning each a score out of 100. This helps you choose a card that best aligns with your preferences and lifestyle, ensuring your decision is backed by data-driven, unbiased analysis.
Scores are represented as:
Green
Cards that give you the most value for your money
Yellow
Cards that offer a reasonable balance of benefits for their fee
Red
Cards that might not offer as much value as others

Our Methodology

At 1 Finance, we are dedicated to offering you an unbiased, data-driven, and detailed analysis of various credit cards available in India. Here is a step-by-step breakdown of our meticulous methodology:

  • In-depth Market Research

Our initial step was to conduct in-depth market research to understand the vast landscape of credit cards available in India, analysing their unique features and offerings to build foundational knowledge for our evaluation process.

  • Feature Shortlisting for Evaluation

We then identified and shortlisted the essential features to be evaluated. This included considering daily expenditure patterns, embedded benefits, joining/annual fees, and eligibility criteria, among others.

  • Purpose-Driven Categorisation

Next, we pinpointed the primary purposes for which individuals use credit cards — such as groceries, fuel, dining, or luxury — and categorised the cards accordingly. This alignment with various lifestyle needs and preferences aids in a more targeted selection process.

  • Crafting a Detailed Evaluation Framework

Building on the identified credit card categories and the diverse range of benefits they offer, coupled with the different expense categories prevalent among individuals, we constructed a framework to assign weights to the shortlisted parameters. These weights vary across different credit card categories, reflecting the relative importance of each parameter in its respective category, thereby ensuring a nuanced and tailored evaluation process.

  • Rigorous Card Evaluation

In this phase, each card was rigorously evaluated against the categories defined in our framework. This comparative analysis differentiates between the good and the not-so-good cards, empowering one to make an informed choice.

  • Continuous Market Monitoring

Our commitment goes beyond just crafting this tool. We continuously monitor the market for any updates in card features or the release of new cards, ensuring our tool remains up-to-date and your choices are well-informed.

For a deeper understanding of our methodology,

Scoring Parameters
A comprehensive set of parameters has been identified to understand the features and benefits of various credit cards, aiding in your search for the card best suited to your needs. Here’s a breakdown of those parameters:
Rewards on Household ExpensestoggleIcon

  • Groceries: Household food items purchased in-store or online
  • Transportation: Daily commute expenses like fuel and public transportation
  • Utilities: Basic utility bill payments such as electricity, gas, and water

Rewards on Lifestyle ExpensestoggleIcon

  • Clothing and Fashion: Personal clothing and fashion-related expenses
  • Technology and Electronics: Electronic devices and gadgets
  • Food and Dining: Eating out or ordering food
  • Entertainment: Movies, concerts, and sports events
  • Travel and Leisure: Airfare, hotels, and car rentals

 Additional BenefitstoggleIcon

  • Welcome Benefits: Initial rewards like cashback, vouchers, and subscriptions
  • Airport Lounge Access: Complimentary access to select domestic/international airport lounges
  • Milestone Benefits: Rewards for reaching yearly spending milestones
  • Luxury Benefits: Complimentary golf rounds/lessons
  • Rewards Conversion Rate: Best rate for redeeming rewards

FeestoggleIcon

  • Joining Fee: Upfront fee charged in the first year
  • Annual Fee: Yearly fee from the second year onwards

Repayment TermstoggleIcon

  • Finance Charges: Interest rate on the borrowed amount

Bundled InsurancetoggleIcon

  • Life Insurance: Air and personal accident cover
  • Health Insurance: Emergency hospitalisation cover (domestic/overseas)
  • Travel Insurance: Baggage loss/delay and loss of passport/tickets/personal documents
  • Credit Liability Cover: Lost card/fraud liability cover & credit shield

Eligibility CriteriatoggleIcon

  • Annual Income: Minimum income needed to apply for the card

Frequently Asked Questions
What is the objective of 1 Finance's credit card scoring model?
The objective of our credit card scoring model is to provide a comprehensive, data-driven, and unbiased analysis of various credit cards available in India. It aims to help you make informed decisions by evaluating cards based on a range of parameters including rewards on household and lifestyle expenses, additional benefits, fees, repayment terms, bundled insurance, and eligibility criteria.
How does 1 Finance's credit card scoring model stand out from other evaluation tools available in the market?
Our scoring model stands out owing to its meticulous methodology which involves a step-by-step analysis of each card based on a detailed evaluation framework. This framework is designed considering various expenditure patterns and preferences of individuals, ensuring a nuanced and holistic evaluation process. Moreover, we continuously monitor the news to update the model with any changes in card features or the release of new cards, maintaining the model's accuracy and relevance.
How can I benefit from using the 1 Finance credit card scoring model?
By using our scoring model, you can save time and effort in finding the right credit card that suits your needs. The model offers a detailed breakdown of various parameters, helping you to understand and compare different cards easily. It acts as a selection-cum-elimination tool, aiding you in narrowing down your choices to find the best fit.
How often do we update the credit card data in the scoring model to ensure accuracy and relevance?
We are committed to providing the most up-to-date information. Our team continuously monitors the news for any changes in card features or the release of new cards to keep the model updated and your choices informed.
Can I personalise the parameters in the credit card scoring model to suit my specific needs and preferences?
Absolutely. Our model is designed to facilitate a tailored search experience. You have the flexibility to explore cards based on distinct categories and fee brackets. Moreover, you can select multiple categories to pinpoint multi-purpose cards and further narrow down your options by choosing a fee bracket that aligns with your budget. This way, you can find a card that is perfectly suited to your preferences and financial comfort zone.
How can I leverage the credit card scoring model to make informed decisions about which card to choose?
Our scoring model provides a detailed breakdown of various credit cards based on different parameters. You can leverage this information to understand which card offers the best rewards and benefits aligned with your expenditure patterns and lifestyle, helping you to make an informed decision.
How can the 1 Finance scoring model guide me in deciding the ideal number of credit cards to own?
The 1 Finance scoring model guides you in choosing credit cards tailored to your spending habits and desired benefits. However, the optimal number of cards hinges on various factors like your expenditure patterns, annual expenses, financial behaviour, and creditworthiness. For personalised insights and expert advice, get your holistic financial planning done with 1 Finance.
What should I do if a specific credit card I am interested in is not listed in the scoring model?
While we strive to include a wide range of credit cards in our evaluation, it is possible that some cards may not be included at this time. However, we continuously update and expand our list to ensure that it remains comprehensive and representative of the available options.
How does the credit card scoring model help in identifying the best credit card suited for my lifestyle and spending habits?
The scoring model categorises credit cards based on various purposes such as groceries, fuel, dining, and luxury, among others. By evaluating cards based on these categories and the associated benefits, it helps you identify the card that is best suited to your lifestyle and spending habits.
Does the credit card scoring model take into account the latest offers and benefits provided by different credit cards in India?
Yes, our model is designed to incorporate the latest offers and benefits provided by different credit cards. We continuously update the model to reflect the most recent information, helping you stay informed about the best deals available.
How reliable is the credit card scoring model in helping me find a card with the best rewards and benefits?
Our scoring model is built on a robust framework that considers a wide array of parameters to evaluate each card meticulously. This ensures that you receive reliable and comprehensive information to help you find a card with the best rewards and benefits.
Disclaimer

1 Finance Pvt. Ltd. operates independently and does not issue/provide credit cards. The information presented herein is intended solely for educational and informational purposes and should not be construed as financial advice. Before making any financial decisions, it's essential to undertake your own thorough research and analysis. If you're uncertain about any financial matters, we strongly recommend seeking guidance from an impartial financial advisor.

Our Methodology

At 1 Finance, we are dedicated to offering you an unbiased, data-driven, and detailed analysis of various credit cards available in India. Here is a step-by-step breakdown of our meticulous methodology:

  • In-depth Market Research

Our initial step was to conduct in-depth market research to understand the vast landscape of credit cards available in India, analysing their unique features and offerings to build foundational knowledge for our evaluation process.

  • Feature Shortlisting for Evaluation

We then identified and shortlisted the essential features to be evaluated. This included considering daily expenditure patterns, embedded benefits, joining/annual fees, and eligibility criteria, among others.

  • Purpose-Driven Categorisation

Next, we pinpointed the primary purposes for which individuals use credit cards — such as groceries, fuel, dining, or luxury — and categorised the cards accordingly. This alignment with various lifestyle needs and preferences aids in a more targeted selection process.

  • Crafting a Detailed Evaluation Framework

Building on the identified credit card categories and the diverse range of benefits they offer, coupled with the different expense categories prevalent among individuals, we constructed a framework to assign weights to the shortlisted parameters. These weights vary across different credit card categories, reflecting the relative importance of each parameter in its respective category, thereby ensuring a nuanced and tailored evaluation process.

  • Rigorous Card Evaluation

In this phase, each card was rigorously evaluated against the categories defined in our framework. This comparative analysis differentiates between the good and the not-so-good cards, empowering one to make an informed choice.

  • Continuous Market Monitoring

Our commitment goes beyond just crafting this tool. We continuously monitor the market for any updates in card features or the release of new cards, ensuring our tool remains up-to-date and your choices are well-informed.

For a deeper understanding of our methodology,

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