BOBCARD Premier Credit Card – Benefits, Fees & Eligibility

Introduction

The BOBCARD Premier Credit Card, offered by BOBCARD (Bank of Baroda), is positioned as a mid-range to premium travel-focused credit card, designed for frequent travelers and those who enjoy dining and international transactions. It aims to provide various benefits, currently available as a limited-time lifetime free offer. Key differentiating benefits include accelerated reward points on travel, dining, and international spends, complimentary domestic airport lounge access, and a fuel surcharge waiver. The card also comes in a RuPay variant, allowing it to be linked to UPI applications.

Welcome Benefits

• Get 500 bonus Reward Points on spends of ₹5,000 or more within the first 60 days of card issuance.
• These 500 Reward Points are worth ₹125 (at a redemption value of 1 Reward Point = ₹0.25).

Fees

• Joining Fee: ₹1,000 (currently Lifetime Free as a limited-time offer).
• Renewal Fee: ₹1,000 (currently Lifetime Free as a limited-time offer).
• Spend-Based Waiver:
  • The joining fee will be waived on spends of ₹10,000 in the first 60 days (applicable for the paid version).
  • The annual fee will be waived on spends of ₹1,20,000 in every card anniversary year (applicable for the paid version).
  • First year fee waiver and annual fee reversal are 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 Waiver: 1% waiver on fuel transactions between ₹400 and ₹5,000 at all fuel stations across India. The waiver is capped at ₹250 per month/statement cycle.
• Cash Advance Charges: 2.5% or ₹500 (whichever is higher).
• Add-on Card Fee: Free for up to 3 add-on cards.

Rewards

• Rewards Rate:
  • Earn 10 Reward Points (5X) for every ₹100 spent on Dining, Travel, and International Transactions.
  • 5X Reward Points earnings are capped at 2,000 Reward Points per month/statement cycle on these accelerated categories. Further spends in that statement cycle on these categories will earn Reward Points at the regular earn rate.
  • Earn 2 Reward Points for every ₹100 spent on all other eligible categories (Core Reward Points).
  • No Reward Points are earned on fuel transactions, utilities, and telecom.
• Travel Benefits:
  • Receive 1 complimentary Domestic Airport Lounge Access every calendar quarter at selected airports in India.
  • Effective 1st January 2025, complimentary lounge access will be subject to minimum spends of ₹20,000 in the preceding calendar quarter.
• Dining Experiences:
  • Earn 5X Rewards (10 Reward Points per ₹100) on Dining spends.
  • Access to mouthwatering Culinary Offers.
• Shopping Benefits:
  • Thrill yourself with Attractive Deals & Discounts across leading online & retail brands.
• Insurance Benefits:
  • Includes personal accident insurance (details not specified).
  • Zero Liability on lost card: Report the loss of the card immediately to ensure zero liability on any fraudulent transactions.
• Other Benefits:
  • Smart EMI option: Convert purchases of > ₹2,500 on your card into Smart EMIs with tenures ranging from 6 to 48 months.
  • Get up to 3 lifetime free add-on cards for your spouse, parents, siblings, or kids (above age 18).
  • The BOBCARD Premier Credit Card also comes in the RuPay variant, allowing it to be linked to UPI applications like Google Pay, PhonePe, etc.
  • Contactless Safe Payments: The card is enabled with wireless chip technology for secure and faster contactless payments.

Rewards Redemption Guide

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

Card Eligibility Criteria

• Age: Minimum 25 years and Maximum 55 years.
• Residency: Must be an Indian Resident.
• Income: Must be a salaried or self-employed individual with a stable source of income and a decent credit score. Net Annual Income should be >₹7.2 Lakh.
• Documents Required:
  • 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 election commission of India, Passport, Driving Licence, Job Card.
  • Income Proof: Bank Statement reflecting salary credit for the last 2 months. Salary Slips, if submitted, must be accompanied by a bank statement.

Card Review

• Overall Verdict: The BOBCARD Premier Credit Card is a great travel card offered by BOBCARD, especially suitable for frequent domestic travelers. It comes with several benefits and privileges in the travel category, making it an ideal choice for those who frequently travel within the country and enjoy dining. The card offers a decent reward rate and free airport lounge access, making it a valuable option, particularly during its limited-time lifetime free offer.
• Pros:
  • Currently available as a lifetime free credit card (limited-time offer) with a decent reward rate.
  • Offers free domestic airport lounge access across the country.
  • Provides 5X reward points on travel, dining, and international spending.
  • Beneficial for taking advantage of various BOBCARD Credit Card offers.
  • Includes a fee waiver on milestone spends for the paid version.
• Cons:
  • A high 3.5% Forex markup fee applies to international transactions, despite offering accelerated reward points on them.
  • The 5X Reward Points earnings are capped at 2,000 reward points per month/statement cycle on the accelerated categories.
  • Complimentary lounge access will be conditional on minimum spends in the preceding quarter, effective from January 1, 2025.

Important Product Details

• The card is currently available as a limited-time Lifetime Free offer.
• Earn 10 Reward Points (5X) for every ₹100 spent on Dining, Travel, and International Transactions.
• Earn 2 Reward Points for every ₹100 spent on all other eligible categories.
• 5X Reward Points are capped at 2,000 Reward Points per month/statement cycle.
• Receive 1 complimentary Domestic Airport Lounge Access every quarter, subject to ₹20,000 spend in the previous quarter (effective Jan 2025).
• Enjoy a 1% fuel surcharge waiver on transactions between ₹400 and ₹5,000, capped at ₹250 per month.
• A foreign currency markup of 3.5% is applicable.
• The interest rate is 3.75% per month (45% per annum).
• Cash advance charges are 2.5% or ₹500, whichever is higher.
• A welcome benefit of 500 bonus Reward Points is offered on ₹5,000 spend within 60 days of card issuance.
• The annual fee can be waived on ₹1,20,000 spend in a year (for the paid version).
• The RuPay variant of the card allows linking to UPI applications.
• Up to 3 free add-on cards are available.
• Zero liability protection is provided for lost cards upon immediate reporting.

Other Details

• Application Process:
  • Online Mode: Click on ‘Apply Now’, fill in the required details, provide necessary documents, and submit.
  • Card to Card Basis: Provide details of your other bank credit card and its limit, along with your latest credit card statement, to get approval.
  • Digital Application: Fill out the online application form, complete the e-sign process using Aadhaar, and verify your identity via Video KYC.
  • Alternatively, you can reach out to customer support or visit any Bank of Baroda branch.
• The GST component on fuel surcharge is not reversed.
• The rate of fuel surcharge may vary depending on the fuel station and their acquiring bank.
• Legal disclaimers and Important Terms & Conditions related to Reward Points, Lounge Access, Fee structure, and other applicable charges are available on the bank's website.