BOBCARD Easy Credit Card – Benefits, Fees & Eligibility

Introduction

The BOBCARD Easy Credit Card is an entry-level credit card designed for everyday shopping, making daily expenditures easy on the pocket with accelerated reward points and cashback opportunities. It's ideal for daily spending, allowing users to earn 5 Reward Points per ₹100 spent on movies, groceries, and departmental stores, and 1 Reward Point on other categories. This card offers zero liability protection in case of a lost card and is available on the RuPay network, enabling seamless linking to UPI applications for payments and earning base reward points on these transactions.

Welcome Benefits

• Earn 500 Reward Points on spending ₹5,000 within 60 days of card issuance.

Fees

• Joining Fee: Nil (The card is lifetime free for a limited time period).
  • Note: If a joining fee is applicable, it is ₹500, which can be waived off on spending ₹6,000 within the first 60 days of card issuance. The first year fee will be levied in the 3rd bill statement from the card issuance month if the spend milestone criteria are not met.
• Renewal Fee: Nil (The card is lifetime free for a limited time period).
  • Note: If an annual fee is applicable, it is ₹500, which can be waived off on spending ₹35,000 in every card anniversary year. Annual fee reversal is applicable only to non-delinquent credit cardholders.
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates: 3.75% per month (45% per annum) on overdue amounts.
• Fuel Surcharge Waiver: 1% waiver at all fuel stations across India on transactions between ₹400 and ₹5,000, capped at a maximum of ₹250 per statement cycle. No Reward Points are earned on fuel transactions. The GST component on fuel surcharge is not reversed.
• Cash Advance Charges: 2.5% of the amount withdrawn or ₹500 (whichever is higher) for domestic ATMs. 3% of the withdrawn amount or ₹500 (whichever is higher) for international ATMs.

Rewards

• Accelerated Rewards (5X): Earn 5 Reward Points per ₹100 spent on:
  • Departmental Stores
  • Movies
  • Groceries
  • Capping: 5X Rewards are capped at 1000 Reward Points per statement cycle on these categories. Further spends in the same statement cycle on these categories will earn Reward Points at the regular earn rate.
• Standard Rewards: Earn 1 Reward Point per ₹100 spent on all other categories.
• Specific MCC Categories: Earn 0.5 Reward Points on specific Merchant Category Code (MCC) categories.
• UPI Spends: Earn base Reward Points when linking the card to UPI applications (e.g., Google Pay) for payments.
• Fuel Transactions: No Reward Points are earned on fuel transactions.
• Insurance Benefits: Accidental death cover for the primary credit cardholder.
• Smart EMI Option: Convert purchases of more than ₹2,500 into Smart EMIs with tenure options from 6 to 48 months.
• Free Add-on Cards: Get up to 3 lifetime free add-on cards for your spouse, parents, siblings, or kids (above 18 years of age).
• Zero Liability on Lost Card: Report the loss of the card immediately (ideally within 24 hours) to ensure zero liability on any fraudulent transactions.
• Contactless Payments: The card is enabled with a wireless chip technology for secure and faster contactless payments.

Rewards Redemption Guide

• Accumulated reward points can be redeemed for cashback and other exciting options.
• The monetary value of 1 Reward Point is equivalent to ₹0.20.

Card Eligibility Criteria

Eligibility Rules

• Applicant must be an Indian Resident.
• Age:
  • For Salaried individuals: 21 to 60 years (Primary Cardholder).
  • For Self-employed individuals: 24 to 65 years.
• Must have a stable income source (either salaried or self-employed).
• Must have a decent credit history.

Documents Required

• Mandatory Proof:
  • Recent Passport size photograph (with clear/white background & without dark/tinted glass).
  • PAN Card.
• Permanent Address Proof:
  • Aadhaar Card (both sides).
  • Voter ID Card issued by the election commission of India.
  • Passport.
  • Driving Licence.
  • Job Card.
• Income Proof:
  • For Salaried: Bank Statement reflecting salary credit for the last 2 months. Salary Slips, if submitted, must be accompanied by a bank statement.
  • For Self-Employed: Income Tax Returns (ITR) and Bank statement for the last 2 months for business accounts.

Card Review

The BOBCARD Easy Credit Card is considered a decent entry-level card, well-suited for everyday retail shopping and managing daily expenditures. It offers significant value through its reward program, providing 5X Reward Points on popular spending categories such as movies, groceries, and departmental stores, alongside 1 Reward Point on other general spends. A key advantage is its "lifetime free" offering for a limited period, coupled with zero liability protection in case of a lost card. The card's capability to be linked with UPI for transactions and earning base rewards further enhances its appeal for modern payment methods. A point to note for users is the capping limit of 1000 Reward Points per statement cycle on the 5X reward categories, after which the earn rate reverts to standard. Overall, it is an affordable and beneficial option for individuals seeking to maximize savings on routine shopping.

Important Product Details

• Positive Highlights:
  • Lifetime free for a limited time period (Nil Joining and Renewal Fees).
  • Earns 5X Reward Points on movies, groceries, and departmental stores.
  • Earns 1 Reward Point per ₹100 on all other categories.
  • Earns 0.5 Reward Points on specific MCC categories.
  • Can be linked to UPI for payments, earning base Reward Points.
  • Welcome benefit of 500 Reward Points on spending ₹5,000 within 60 days.
  • 1% fuel surcharge waiver (up to ₹250 per statement cycle).
  • Smart EMI option available for purchases above ₹2,500 with flexible tenures (6 to 48 months).
  • Provides up to 3 lifetime free add-on cards.
  • Offers Zero Liability protection on lost cards.
  • Supports contactless payments for secure and faster transactions.
  • Includes accidental death cover for the primary cardholder.
  • Reward points are redeemable for cashback at 1 Reward Point = ₹0.20.
• Negative Highlights:
  • 5X Rewards are capped at 1000 Reward Points per statement cycle on accelerated categories.
  • Reward program is not applicable on select MCCs and fuel transactions.
  • High foreign currency markup of 3.5%.
  • High interest rate of 3.75% per month (45% per annum).
  • Cash advance charges apply (2.5% or ₹500 for domestic, 3% or ₹500 for international, whichever is higher).
  • The GST component on the fuel surcharge waiver is not reversed.

Other Details

• Card Suitability: Best suited for retail shopping and food-related expenses.
• Reward Type: Primarily offers Reward Points.
• Application Process:
  • Online: Involves filling an online application form, E-signing using Aadhaar, and verifying identity via Video KYC.
  • Offline: Available by visiting the nearest bank branch, filling the necessary forms, and attaching required documents.
• The card is marketed as "The everyday-value shopper's delight" for making everyday shopping easy on the pocket with attractive deals and discounts.