BOBCARD Premier Credit Card – Benefits, Fees & Eligibility

BOBCARD Premier Credit Card

Introduction

The BOBCARD Premier Credit Card is designed for avid travelers, offering a range of benefits tailored to enhance travel experiences and provide significant savings. While typically carrying a joining and annual fee of ₹1,000, it is currently available as a lifetime free card for a limited period. Cardholders can earn accelerated reward points on travel, dining, and international transactions, along with complimentary domestic airport lounge access every quarter. Additional benefits include fuel surcharge waiver, personal accidental death cover, and the ability to link the RuPay variant card to UPI applications.

Welcome Benefits

• Receive 500 bonus reward points upon spending ₹5,000 or more within 60 days of card issuance. These 500 reward points are worth ₹125.

Fees

• Joining Fee: ₹1,000. Currently available as Lifetime Free (Limited Time Offer).
  • Joining Fee Waiver: Waived off if ₹10,000 is spent within the first 60 days of card issuance. The first year fee will be levied in the 3rd bill statement if the spend milestone criterion is not met. This waiver is applicable only to non-delinquent credit cardholders.
• Renewal Fee: ₹1,000 per annum. Currently available as Lifetime Free (Limited Time Offer).
  • Renewal Fee Waiver: Waived off if ₹1,20,000 is spent in every card anniversary year. This waiver is applicable only to non-delinquent credit cardholders.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.5% on the transaction amount.
• Interest Rates: 3.75% per month (45% per annum).
• Fuel Surcharge: 1% waiver on fuel transactions between ₹400 and ₹5,000 at all fuel stations across India. The maximum waiver is capped at ₹250 per statement cycle.
  • The GST component on the fuel surcharge is not reversed. The surcharge is levied by the acquiring bank, and the value on the charge slip may differ from the credit card statement.
• Cash Advance Charges: 2.5% of the transaction amount or ₹500, whichever is higher.
• Add-on Card Fees: Up to 3 add-on cards are lifetime free.

Rewards

• Travel Benefits:
  • Earn 5X Rewards (10 Reward Points per ₹100 spent) on Travel and International Spends.
  • Receive 1 complimentary domestic airport lounge access every calendar quarter.
  • Effective 1st January 2025, complimentary lounge access will be subject to a minimum spend of ₹20,000 in the preceding calendar quarter.
• Dining Benefits:
  • Earn 5X Rewards (10 Reward Points per ₹100 spent) on Dining spends.
  • Access to mouthwatering Culinary Offers.
• General Spends:
  • Earn 2 Reward Points per ₹100 spent on all other eligible categories.
• Shopping Benefits:
  • Access attractive deals and discounts across leading online and retail brands.
• Reward Point Cap:
  • 5X Rewards are capped at 2,000 Reward Points on travel, dining, and international spends per statement cycle. Further spends in these categories during the same statement cycle will earn rewards at the regular earn rate.
• Reward Exclusions:
  • Reward program is not applicable on fuel, utilities, telecom, and select MCCs. No Reward Points are earned on fuel transactions.
• Fuel Surcharge Waiver:
  • 1% fuel surcharge waiver at all fuel stations across India on transactions between ₹400 and ₹5,000, with a maximum waiver of ₹250 per statement cycle.
• Insurance Benefits:
  • Free Personal Accidental Death Cover, providing financial protection for your family (Air: ₹50 Lakhs, Non-Air: ₹10 Lakhs).
• Add-on Cards:
  • Get up to 3 lifetime free add-on cards for your spouse, parents, siblings, or kids (above 18 years of age).

Rewards Redemption Guide

• Reward points can be redeemed as cashback at a rate of 1 Reward Point = ₹0.25.
• Reward points can also be redeemed for various categories including flight/hotel bookings, shopping, products, and gift vouchers.

Card Eligibility Criteria

• Residency: Indian Resident.
• Income: Salaried or self-employed individual with a Net Annual Income of >₹7.2 Lakh.
• Age: 21 to 60 years for the primary cardholder.
• 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 Individuals: Bank Statement reflecting salary credit for the last 2 months. Salary Slips, if submitted, must be accompanied by a bank statement.
    • For Self-Employed Individuals: (Not explicitly detailed but generally includes) Latest ITR, Bank statements.

Card Review

The BOBCARD Premier Credit Card is a solid option for frequent travelers and those who spend considerably on dining and international transactions. Its key strength lies in the 5X reward points on these categories and the complimentary domestic lounge access, making it a competitive choice for domestic travel. While the 3.5% foreign currency markup can be a drawback for heavy international spenders, the "Lifetime Free" offer, when available, significantly enhances its value proposition. The card offers a decent reward rate and various benefits, making it an attractive entry-level premium card, especially for those seeking travel perks without a hefty annual fee (if availed during the limited-time offer).

Pros

• Currently available as a lifetime free credit card (limited-time offer).
• Offers a decent reward rate, with 10 Reward Points per ₹100 on travel, dining, and international transactions.
• Provides 1 complimentary domestic airport lounge access every quarter (subject to spend criteria from Jan 2025).
• Good for taking advantage of various BOBCARD Credit Card offers.

Cons

• A 3.5% Foreign Currency Markup fee applies to international transactions, which can offset the accelerated reward points.
• 5X Reward Points earnings are capped at 2,000 points per month on accelerated categories.

Important Product Details

• Earn 10 Reward Points per ₹100 spent on dining, travel, and international transactions.
• Earn 2 Reward Points per ₹100 spent on all other eligible categories (except fuel, utilities, and telecom).
• 5X Reward Points are capped at 2,000 points per month across accelerated categories.
• Complimentary domestic airport lounge access once per quarter (subject to ₹20,000 spend in the preceding quarter from Jan 2025).
• Personal Accidental Death Cover up to ₹10 Lakhs.
• 1% fuel surcharge waiver on transactions between ₹400 and ₹5,000, capped at ₹250 per month.
• Joining and annual fees are ₹1,000, but currently offered as lifetime free for a limited period.
• Fee waivers are available for milestone spends: ₹10,000 in 60 days for joining fee and ₹1,20,000 annually for renewal fee (for the paid version).
• Reward points can be redeemed for cashback at 1 Reward Point = ₹0.25.

Other Details

• Smart EMI Option: Convert purchases of over ₹2,500 on the card into Smart EMIs with tenure options ranging from 6 to 48 months.
• Zero Liability on Lost Card: Report the loss of the card immediately to ensure zero liability on any fraudulent transactions.
• Contactless Payments: The card is enabled with wireless chip technology for secure and faster contactless payments.
• UPI Linkage: The BOBCARD Premier Credit Card (RuPay variant) can be linked to UPI applications such as Google Pay, PhonePe, etc.
• Application Process: The application can be completed digitally in 3 simple steps: Fill Online Application form, E-sign using Aadhaar, and Verify identity via Video KYC. Alternatively, one can visit a Bank of Baroda branch or reach out to customer support.
• The card can also be applied for on a "Card to Card" basis by providing details of another bank's credit card and its limit, along with the latest credit card statement for approval.