This is the tough part. With so many cards to choose from, each offering different but multiple features, how does one know which one to pick?

Bhadauria wanted features, flexibility and convenience from his credit cards; he believed that HDFC Master Titanium fulfilled that need. "Of my five cards, I use HDFC Master Titanium card the most since I can pay the bills online and it gives me higher reward points for it. The card also offers many options to redeem my points," he says.

Hence, the message is clear: Figure out what you want. So many cards means problem of a plenty. If you are a frequent air traveller, then an airline-bank co-branded card might be better for you. If you want the cash-back card, then BoB or the Deutsche bank credit card will work for you.

As mentioned earlier, different bank and cards offer different redemption points. Also, the value of these redemption points differs from bank to bank Hence, its important for a customer to be aware of the value of points. "Points accumulated and their value is important, in addition to the wide choice of redemption options," says Nirupam Sahay, chief marketing officer, SBI Cards. For example, the co-branded ABN AMRO MakeMyTrip Go Card offers three reward points per Rs 100 spent. But, on purchases made on MakeMyTrip, the points range from 10 to 30. The reward points can be redeemed as cash back into your account.

The success of cash-back card has lead to an increase in the number of banks coming out with it. This has lead to an increase in the reward points being offered by those banks. Hence, one can choose the card that offers one maximum cash-back on their frequent spends and offers an array of redemption choices.

Technology has aided customers, in a way that they can compare the credit card features of all banks. Since, all banks display their products online it is always easy to pick up the card which suits one the best.