BOBCARD Tiara Credit Card – Benefits, Fees & Eligibility

Introduction

The BOBCARD Tiara Credit Card, issued by BOBCARD, is a mid-range to premium offering specifically designed to cater to the needs and aspirations of women. Positioned as a card that empowers journeys and is tailored for her, it stands out with accelerated 5X Reward Points on dining, travel, and international spends, a competitive low Forex markup charge of 2%, and complimentary memberships to popular services like Swiggy One, Amazon Prime/Disney Hotstar, and Gaana Plus. This card also offers unique health benefits and the convenience of UPI linking, making it a comprehensive financial tool for modern women.

Welcome Benefits

• Complimentary Memberships:
  • Free Swiggy One 3-month membership (once per annum), offering unlimited free deliveries on Food and Instamart orders.
  • Free annual memberships to Amazon Prime/Disney Hotstar (also referred to as Jio Hotstar), Gaana Plus, and more.
• Health Package: Complimentary Women's Health Package including essential screenings like a mammogram, Pap smear test, and blood tests.
• Joining Fee Waiver: The joining fee can be waived by spending ₹25,000 in the first 60 days of card issuance.

Fees

• Joining Fee: ₹2,499 + GST (Total ₹2,748).
• Renewal Fee: ₹2,499 + GST (Total ₹2,748).
• Spend-Based Waiver:
  • Joining Fee Waiver: Spend ₹25,000 in the first 60 days of card issuance.
  • Annual Fee Waiver: Spend ₹2.5 Lakh in a card anniversary year.
• Foreign Currency Markup: 2%.
• Interest Rates: 3.75% Per Month (45% Per Annum).
• Fuel Surcharge Waiver: 1% fuel surcharge waiver at all fuel stations across India on transactions between ₹400 and ₹5,000, capped at ₹250 per statement cycle.
• Cash Advance Charges: Not specified.
• Rewards Redemption Fee: Not explicitly stated as a fee, but Reward Points can be redeemed for cashback at a value of 1 Reward Point = ₹0.25.

Rewards

• Rewards Rate:
  • Accelerated Rewards: Earn 15 Reward Points (5X) per ₹100 spent on Dining, Travel, and International Spends. These accelerated 5X Reward Points are capped at 5,000 per statement cycle, after which the regular base rate applies.
  • Base Rewards: Earn 3 Reward Points per ₹100 on all other eligible spends.
  • Exclusions: No Reward Points are earned for fuel transactions.
  • UPI Transactions: Reward Points earned with UPI transactions are capped at ₹500 per statement cycle.
• Movie & Dining:
  • Complimentary Swiggy One 3-month membership (once per annum).
  • Quarterly discounts of ₹250 off on BigBasket.
  • Flat ₹250 off on a minimum purchase of 2 movie/non-movie tickets with BookMyShow, available quarterly.
• Travel:
  • Low Forex Charge: A reduced Forex markup of 2% on international spends.
  • Domestic Lounge Access: Unlimited domestic airport lounge access.
    • Requires a minimum spend of ₹75,000 in the previous quarter (current condition).
    • Effective 1st January 2025, complimentary lounge access will be subject to a minimum spend of ₹40,000 in the preceding calendar quarter.
    • For newly issued cards, the minimum spending requirement for lounge utilization is waived for the calendar quarter in which the card is issued.
  • International Lounge Access: This card offers no international airport lounge access.
• Shopping & Style (Quarterly Discounts):
  • Get ₹500 quarterly discount on Myntra (Annual Savings: ₹2,000).
  • Get ₹500 quarterly discount on Nykaa (Annual Savings: ₹2,000).
  • Get ₹500 quarterly discount on Flipkart (Annual Savings: ₹2,000).
  • Get ₹1,500 quarterly discount at Lakmē Salon (Annual Savings: ₹6,000).
  • Total annual savings from these specific quarterly discounts amount to ₹12,000.
• Health & Wellness:
  • Complimentary Women's Health Package including Pap Smear & Blood Tests and Mammography package.
• Lifestyle & Entertainment Perks:
  • Complimentary Annual Memberships for Amazon Prime/Disney Hotstar, Gaana Plus, and more.
• Other Benefits:
  • UPI Linking: Allows linking to UPI apps such as BHIM, Google Pay, Paytm, PhonePe, and others for UPI payments.
  • 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.
  • Smart EMI Option: Convert purchases of more than ₹2,500 on the card 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 female family members (mother, sister, or daughter above age 18).

Rewards Redemption Guide

• Cashback Redemption: Accumulated Reward Points can be redeemed for cashback, where 1 Reward Point equals ₹0.25.
• Voucher & Membership Redemption: Quarterly discounts (Myntra, Nykaa, Flipkart, Lakmē Salon, BigBasket, BookMyShow) and complimentary annual memberships (Amazon Prime/Disney Hotstar, Gaana Plus, Swiggy One) are applicable to primary cardholders only and can be redeemed by logging into the designated portal (details available for existing customers).

Card Eligibility Criteria

• Residency: Indian Resident.
• Age: Minimum 25 years and Maximum 55 years (lower and higher age cut-offs can be considered at BOBCARD’s discretion).
• Gender: Exclusively designed for women; male applicants are not eligible.
• Minimum Annual Income: ₹7.2 lakh or more.
• Documents Required:
  • Proof of Identity: PAN (Mandatory), Recent Passport size photograph (with clear/white background & without dark/tinted glass).
  • Address Proof (Officially Valid Document - OVD): Passport, Driving licence, Aadhaar Card (as issued by UIDAI), Voter's Identity Card issued by the Election Commission of India, Job card issued by... (further details not provided in source).
  • Income Proof:
    • 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 Tiara Credit Card is an excellent choice for women seeking a credit card that offers a blend of financial benefits and lifestyle perks tailored to their needs. It provides significant value through its high reward rate on dining, travel, and international spends, coupled with a competitive low foreign currency markup. The card's focus on women's wellness, extensive quarterly discounts on popular brands, and complimentary memberships add substantial value.

• Pros:
  • Highly competitive 2% Forex markup charge, which is lower than most credit cards in the market (typically 3% to 3.5%).
  • Accelerated reward points on international spends make it particularly beneficial for frequent international travelers.
  • Offers a high effective reward rate of 3.75% on dining and travel spends.
  • The joining fee is reasonable and easily waivable through a modest spending milestone.
  • Provides a wide array of lifestyle benefits, including shopping discounts, entertainment perks, and unique health benefits.
  • Includes essential security features like Zero Liability on a lost card and contactless payment technology.
• Cons:
  • Despite being beneficial for international transactions due to low forex and accelerated rewards, it does not offer international airport lounge access.
  • Domestic airport lounge access is conditional on meeting a minimum spending requirement in the previous quarter.
  • Reward points on accelerated categories and UPI transactions are capped per statement cycle.

Important Product Details

• Positive Highlights:
  • Specifically designed for women, offering tailored benefits.
  • Accelerated 5X Reward Points on dining, travel, and international spends.
  • Low foreign currency markup of 2%.
  • Complimentary memberships to Swiggy One, Amazon Prime/Disney Hotstar, and Gaana Plus.
  • Unlimited domestic airport lounge access (subject to spend criteria).
  • Supports UPI payments via popular apps.
  • Includes a complimentary women's health package.
  • Offers substantial quarterly discounts on shopping, beauty, and groceries.
  • Provides Zero Liability protection on lost cards.
  • Allows for up to 3 lifetime free add-on cards for female family members.
  • Features a Smart EMI option for large purchases.
  • Enabled for secure contactless payments.
• Negative Highlights:
  • Lacks international airport lounge access.
  • Domestic lounge access requires a minimum spend in the preceding quarter.
  • Reward points for accelerated categories and UPI transactions are capped.
  • No Reward Points are earned on fuel transactions.

Other Details

• The card is marketed with slogans like "Empowering your journey, tailored for her," "Your Woman Card, Your Power Move," and "BOBCARD Tiara for modern day queen."
• It is available in bright, positive colors.
• The card aims to empower and celebrate women's journeys, serving as a reminder of strength and resilience.
• The quarter considered for benefits and lounge access eligibility is the Calendar Quarter.
• Legal disclaimers note that the first year fee will be levied in the 3rd bill statement if the spend milestone criteria are not met, and fee waivers are applicable only to non-delinquent credit cardholders.
• The GST component on fuel surcharge is not reversed, and the surcharge rate may vary by fuel station and acquiring bank.