BOBCARD Select Credit Card – Benefits, Fees & Eligibility

BOBCARD Select Credit Card

Introduction

The BOBCARD Select Credit Card is specifically designed for online shoppers and food enthusiasts, aiming to provide exciting and rewarding offers through extra savings on everyday spends. This card offers accelerated rewards on online and dining transactions, along with various value-added benefits. While it typically comes with an annual charge of ₹750 plus applicable taxes, it may be available as a lifetime free credit card for a limited period, with fee waiver options also available on meeting specific spending milestones.

Welcome Benefits

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

Fees

• Joining Fee: ₹750. This fee can be waived off if you spend ₹7,500 within the first 60 days of card issuance. For a limited time, the card may be offered as Lifetime Free. The first year fee will be levied in the 3rd bill statement if the spend milestone is not met.
• Renewal Fee: ₹750 annually. This fee can be waived off if you spend ₹70,000 in the preceding card anniversary year. For a limited time, the card may be offered as Lifetime Free. Annual fee reversal is applicable only to non-delinquent credit cardholders.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.5% for all foreign currency transactions.
• Interest Rates: 3.75% per month (45% per annum).
• Fuel Surcharge: 1% fuel surcharge waiver at all fuel stations across India on transactions between ₹400 and ₹5,000. The maximum waiver is capped at ₹250 per statement cycle/month. Note that the GST component on fuel surcharge is not reversed, and no Reward Points are earned on fuel transactions.
• Cash Advance Charges: 2.5% of the cash withdrawn or ₹500, whichever is higher (minimum of ₹300).
• Add-on Card Fee: No fee for add-on credit cards.

Rewards

• Online & Dining Spends: Earn 5X Reward Points (5 Reward Points per ₹100 spent) on online purchases and dining expenses. These 5X rewards are capped at 1,000 Reward Points per statement cycle for the mentioned categories. Subsequent spends in these categories within the same statement cycle will earn Reward Points at the regular rate.
• Utility Bills: Earn 5 Reward Points per ₹100 spent on utility bill payments. (This is subject to the same 1,000 RP cap per statement cycle for 5X categories).
• All Other Categories: Earn 1 Reward Point per ₹100 spent on all other eligible transactions.
• Shopping Deals: Revel with attractive deals and discounts across leading brands.
• Culinary Offers: Delight yourself with mouthwatering culinary offers.
• Insurance: Get a free Personal Accidental Death Cover, providing financial protection for your family (₹15 Lakhs for air accidents, ₹5 Lakhs for non-air accidents).
• Exclusions: Reward program is not applicable on select Merchant Category Codes (MCCs) and fuel transactions.

Rewards Redemption Guide

• Accumulated Reward Points can be redeemed as cashback.
• The redemption value is 1 Reward Point = ₹0.20 cashback.
• Reward points are also redeemable against various other options.

Card Eligibility Criteria

• Eligibility Rules:
  • Primary Cardholder: Indian Resident, age 21 to 60 years (for Salaried) or 24 to 65 years (for Self-employed).
  • Add-on Card Applicant: Above 18 years of age.
  • The applicant should have a decent credit score.
• Documents Required:
  • Mandatory Proofs:
    • 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.

Card Review

The BOBCARD Select Credit Card is an excellent choice for individuals who enjoy online shopping and dining out, offering substantial savings through its exclusive reward structure. It provides an impressive 5X Reward Points on these categories, making it a valuable tool for maximizing benefits on everyday spends. The card is also affordable, especially with the potential for fee waivers or the limited-time lifetime free offer. It is particularly well-suited for those starting their credit journey or anyone looking for a credit card that offers significant savings across various spending categories. Key advantages include accelerated rewards, fuel surcharge waiver, Smart EMI options, and complimentary accidental insurance. While it lacks explicit lounge access benefits, its core reward proposition and other features make it a strong contender for its target audience.

Important Product Details

• Designed exclusively for online shoppers and food enthusiasts.
• Offers 5X rewards on online, dining, and utility bill spends, capped at 1,000 Reward Points per statement cycle.
• Welcome benefit of 500 Reward Points on initial spends.
• Joining and annual fee waivers available on achieving specific spending milestones.
• 1% fuel surcharge waiver on transactions between ₹400 and ₹5,000, up to ₹250 per month.
• Smart EMI option to convert purchases greater than ₹2,500 into EMIs with tenures ranging from 6 to 48 months.
• Provision for up to 3 lifetime free add-on cards for family members (spouse, parents, siblings, or kids above 18).
• Free Personal Accidental Death Cover (₹15 Lakhs for air, ₹5 Lakhs for non-air accidents).
• Zero Liability on lost card if reported immediately, protecting against fraudulent transactions.
• Contactless payment enabled with wireless chip technology for secure and faster payments (no PIN required for spends up to ₹5,000 at retail merchants).
• No airport lounge access is provided with this card.

Other Details

• Best Suited For: Shopping.
• Reward Type: Reward Points.
• Online Application Process: Fill the online application form, E-sign using Aadhaar, and verify identity via Video KYC.