CMA One BOBCARD Credit Card – Benefits, Fees & Eligibility

Introduction

The CMA One BOBCARD Credit Card is issued exclusively by BOBCARD to ICMAI members. Positioned as a lifetime free card with a nominal joining fee of ₹1, it offers a range of exciting privileges across various categories. Key differentiating benefits include a complimentary FitPass Pro membership, bonus Reward Points, free domestic lounge access, a reduced forex markup fee, and comprehensive complimentary insurance coverage. Additionally, cardholders can earn significant bonus Reward Points annually through spending milestones.

Welcome Benefits

• Get a complimentary 6-month FitPass Pro membership.
• Receive 500 bonus Reward Points on spending ₹5,000 or more with your credit card within the first 60 days of card issuance. These benefits are applicable on the Primary Card only.

Fees

• Joining Fee

  • ₹1 + GST (one-time fee).

• Annual Fee

  • Nil.

• Rewards Redemption Fee

  • Nil.

• Foreign Currency Markup

  • 2% of the total transaction amount.

• Interest Rates

  • 3.49% per month.

• Fuel Surcharge

  • 1% fuel surcharge waiver on all fuel spends between ₹400 and ₹5,000 at all fuel stations across India.
  • The maximum waiver per month is capped at ₹250 per statement cycle.
  • The GST component on the fuel surcharge is not reversed.

• Cash Advance Charges

  • 2.5% of the withdrawn amount or a minimum of ₹300 at domestic ATMs.
  • 3% of the withdrawn amount or a minimum of ₹300 at international ATMs.

• Other Fees

  • Get up to 3 lifetime free add-on cards for your spouse, parents, siblings, or kids (above age 18).

Rewards

• Rewards Rate

  • Earn 1 Reward Point on every ₹100 spent on all other retail categories.
  • Earn 5x Rewards, i.e., 5 Reward Points on every ₹100 spent on dining, utility bills, and online transactions.
  • 5x Rewards are capped at 1,000 Reward Points 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.
  • No Reward Points are accrued on fuel transactions.
  • UPI transactions are eligible only for core Reward Points (1 RP per ₹100) and do not qualify for bonus rewards.
  • Reward program is not applicable on select Merchant Category Codes (MCCs).

• Milestone Benefits

  • Earn 4,000 bonus Reward Points every quarter on spending more than ₹1 lakh or your total credit limit, whichever is higher.

• Travel Benefits

  • Get 12 complimentary domestic lounge access every year (capped at 3 visits per quarter) at a long list of partner domestic airport lounges.
  • Effective 1st Jan, 2025, complimentary lounge access will be subject to minimum spends of ₹40,000 in the preceding calendar quarter.
  • Save on international spends with a 2% reduced Forex mark-up.

• Insurance Benefits

  • Get an accidental insurance cover worth ₹15 lakhs against death due to personal air accident.
  • Get an insurance cover worth ₹5 lakhs against non-air accident death.
  • Get a Professional Indemnity Insurance Cover worth ₹5 lakhs.

• Other Benefits

  • Smart EMI option: Convert purchases of more than ₹2,500 on your card into Smart EMIs of 6 to 48 months.
  • Zero Liability on lost card: Report loss of card immediately to ensure zero liability on any fraudulent transactions.
  • Contactless Safe Payments: Your card is enabled with a wireless chip technology for secure and faster payments in contactless mode.

Rewards Redemption Guide

• The Reward Points earned can be redeemed against cashback and several other options available at the BOBCARD Rewards portal.
• The redemption rate is 1 Reward Point = Re. 0.25.

Card Eligibility Criteria

• Eligibility rules

  • The applicant should be an active ICMAI member.
  • The applicant must be a resident of India.
  • Age for Salaried & Self-employed applicants: 21 to 75 years.
  • The age of the supplementary card applicant needs to be a minimum of 18 years.
  • The applicant’s credit score might also be an important factor.
  • Minimum net annual income for Salaried Customers: ₹3 lakhs or above.
  • Minimum annual ITR for Self-employed Customers: ₹3 lakhs or above.

• Documents required

  • KYC Documents.
  • Photocopy of the applicant’s PAN Card.
  • ICMAI Membership Card’s photocopy.
  • Applicant’s recent passport-sized photograph.
  • Latest salary slips/latest audited ITR.
  • Current Address proof (such as Passport, latest utility bills, Aadhar Card, etc).

Card Review

The CMA One BOBCARD Credit Card, with a one-time fee of only Re. 1, is essentially a lifetime free credit card designed exclusively for ICMAI members. It offers a comprehensive suite of privileges, including a reasonable reward rate, travel benefits like domestic lounge access and low forex markup, and valuable milestone rewards. Considering its affordability, the card provides significant value, making it an excellent choice for eligible ICMAI members seeking a feature-rich credit card without high annual fees.

Important Product Details

• Exclusive card for ICMAI members.
• Joining Fee: ₹1 + GST (one-time).
• Annual Fee: Nil.
• Welcome Benefit: Complimentary 6-month FitPass Pro membership.
• Welcome Benefit: 500 bonus Reward Points on spending ₹5,000 within the first 60 days of card issuance.
• Accelerated Rewards: Earn 5x Reward Points (5 RP per ₹100) on dining, online, and utility bills, capped at 1,000 RP per statement cycle.
• Core Rewards: Earn 1 Reward Point on every ₹100 spent on other retail categories.
• Milestone Benefit: Earn 4,000 bonus Reward Points every quarter on spending more than ₹1 lakh or your total credit limit, whichever is higher.
• Travel Benefit: 12 complimentary domestic lounge access every year (3 per quarter).
• Lounge Access Condition: Effective 1st Jan, 2025, complimentary lounge access will be subject to minimum spends of ₹40,000 in the preceding calendar quarter.
• Low Foreign Currency Markup: 2% of the transaction amount.
• Insurance Coverage: Air accident death cover of ₹15 lakhs, non-air accident death cover of ₹5 lakhs, and Professional Indemnity Insurance Cover of ₹5 lakhs.
• Fuel Surcharge Waiver: 1% waiver on transactions between ₹400 and ₹5,000, capped at ₹250 per month.
• Interest Rate: 3.49% per month.
• Cash Advance Fee: 2.5% or min ₹300 (domestic), 3% or min ₹300 (international).
• Free Add-on Cards: Up to 3 lifetime free add-on cards.
• Zero Liability: On lost card upon immediate reporting.
• Smart EMI Option: Convert purchases > ₹2,500 into EMIs (6-48 months).

Other Details

• How to Apply:
  • Online: Fill out the application form, complete e-signing with Aadhaar, and verify identity through Video KYC.
  • Offline: Visit the nearest BOBCARD branch with all required documents and fill out a physical application form.
• Benefit Expiry Date: Initial welcome benefits are applicable on the Primary Card only and expire 60 days from the Card Issuance date.
• Terms and Conditions: Important Terms and Conditions regarding Reward Points and lounge access are available on bobcard.co.in/most-important-terms-and-condition.