BOBCARD Select Credit Card – Benefits, Fees & Eligibility

Introduction

The BOBCARD Select Credit Card, issued by BOBCARD (Bank of Baroda), is positioned as an affordable and rewarding credit card, particularly beneficial for individuals who frequently engage in online shopping and dining. It aims to provide cardholders with significant savings through its accelerated reward points program on these categories, coupled with a valuable fuel surcharge waiver and spend-based fee waiver conditions, making it an attractive option for everyday spending.

Welcome Benefits

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

Fees

• Joining Fee: ₹750 + GST
• Renewal Fee: ₹750 + GST
• Spend-Based Waiver:
  • Joining fee waived off on spending ₹7,500 within 60 days of card issuance.
  • Annual fee waived off on spending ₹70,000 in every card anniversary year.
  • First year fee will be levied in the 3rd bill statement from the card issuance month if the spend milestone criteria are not met.
  • 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% of the transaction amount
• Interest Rates: 3.75% Per Month (45% Per Annum)
• Fuel Surcharge:
  • 1% fuel surcharge waiver at all fuel stations across India for transactions between ₹400 and ₹5,000.
  • Maximum waiver is capped at ₹250 per month (per statement cycle).
  • The GST component on the fuel surcharge is not reversed.
  • The rate of fuel surcharge may vary depending on the fuel station and their acquiring bank.
  • The surcharge is levied by the acquiring bank providing the terminal to the merchant.
  • The value of fuel transaction on the charge slip will differ from the credit card statement since the fuel surcharge and GST on the same are levied by the acquiring bank after the transaction.
• Cash Advance Charges: 2.5% of the amount or ₹500 (whichever is higher).
• Add-on Card Fee: No fee for add-on credit cards; get up to 3 lifetime free add-on cards.

Rewards

• Rewards Rate:
  • Earn 5 Reward Points per ₹100 spent on online transactions and dining spends.
  • The 5X Reward Points are capped at a maximum benefit of 1000 Reward Points per month (per statement cycle) on the mentioned categories. Further spends in that statement cycle on these categories will earn Reward Points at the regular earn rate.
  • Earn 1 Reward Point per ₹100 spent on all other eligible transactions (except fuel).
  • Fuel transactions are not eligible for Reward Points.
  • Reward program is not applicable on select MCCs.
• Dining:
  • Earn 5 Reward Points per ₹100 spent on dining.
  • Access to mouthwatering Culinary Offers.
• Shopping:
  • Earn 5 Reward Points per ₹100 spent on online transactions.
  • Revel with Attractive Deals & Discounts across leading brands.
• Insurance Benefits:
  • Accidental insurance protection: ₹15 lacs (Air) and ₹5 lacs (Non-Air).
• Lounge Access: No airport lounge access is provided with this card (domestic or international).

Rewards Redemption Guide

• The Reward Points earned are redeemable against cash or several different options, as per your choice.
• Redeem your reward points as cashback.
• 1 Reward Point = ₹0.20.

Card Eligibility Criteria

• Age:
  • Primary cardholders should be above 21 years of age (18 years for add-on applicants).
  • Another source indicates a minimum age of 25 years and a maximum of 55 years for primary applicants, with lower and higher age cut-offs considered at BOBCARD’s discretion.
• Residency: Indian Resident.
• Employment Status: The applicant should either be self-employed or salaried.
• Credit Score: The applicant should have a decent credit score.
• 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:
  • Salaried: Bank Statement reflecting salary credit for the last 2 months. Salary Slips, if submitted, to be accompanied by a bank statement.

Card Review

The BOBCARD Select Credit Card is an excellent choice for individuals who are frequent online shoppers and enjoy dining out, as it offers accelerated rewards in these categories. It is also well-suited for those starting their credit journey or looking for an affordable card that provides value on everyday spends.

Pros:

• High reward rate of 5X on online and dining spends.
• Valuable welcome benefit of 500 reward points.
• Spend-based waivers for both joining and annual fees make it potentially free.
• 1% fuel surcharge waiver, capped monthly, helps save on fuel expenses.
• Zero liability on lost cards provides security.
• Offers Smart EMI option for converting large purchases.
• Provides up to 3 lifetime free add-on cards for family members.
• Includes accidental insurance protection.
• Contactless payment enabled for secure and faster transactions.

Cons:

• The 5X reward points are capped at 1000 RPs per month, which might limit benefits for very high spenders in those categories.
• No airport lounge access is provided.
• High foreign currency markup fee.
• High interest rates and cash advance charges.
• No reward points are earned on fuel transactions.

Overall, the card offers a strong value proposition for its target audience, combining rewarding features with practical benefits at an affordable fee structure, especially with the waiver conditions.

Important Product Details

• Reward Points Earning:
  • 5 Reward Points per ₹100 spent on online transactions and dining (capped at 1000 RPs per month).
  • 1 Reward Point per ₹100 spent on all other eligible transactions (except fuel).
  • No Reward Points on fuel transactions.
• Reward Redemption: Redeem Reward Points for cashback at a rate of 1 RP = ₹0.20.
• Welcome Benefit: 500 Reward Points on spends of ₹5,000 or more within 60 days of card issuance.
• Fee Waivers:
  • Joining fee waiver on ₹7,500 spend within 60 days.
  • Annual fee waiver on ₹70,000 spend in an anniversary year.
• Fuel Surcharge Waiver: 1% waiver on transactions between ₹400 and ₹5,000, capped at ₹250 per month.
• Foreign Currency Markup: 3.5%.
• Interest Rate: 3.75% per month (45% per annum).
• Cash Advance Charges: 2.5% or ₹500, whichever is higher.
• Smart EMI Option: Convert purchases of > ₹2,500 into EMIs with tenures from 6 to 48 months.
• Add-on Cards: Up to 3 lifetime free add-on cards for family members (spouse, parents, siblings, or kids above 18).
• Zero Liability: Zero liability on lost cards if reported immediately to the bank.
• Contactless Payments: Enabled for secure and faster payments, with no PIN required for spends up to ₹5000 at retail merchants.
• Insurance: Accidental insurance protection of ₹15 lacs (Air) and ₹5 lacs (Non-Air).
• Lounge Access: No airport lounge access.

Other Details

• To apply for the BOBCARD Select Credit Card online, applicants can click on the "Apply Now" button, which redirects to the official application page, fill in particulars, and submit the application.
• The digital application process involves 3 simple steps: Fill Online Application form, E-sign using Aadhaar, and Verify identity via Video KYC.
• If your BOBCARD Select Credit Card is stolen, report it to the bank as soon as possible. Once reported, you will not be liable for any unauthorized transactions done on the card.
• The card is designed exclusively for online shoppers, offering extra savings on everyday spends.