Equitas Small Finance Bank Selfe Credit Card – Benefits, Fees & Eligibility

Equitas Selfe Credit Card

Introduction

The Equitas Selfe Credit Card is a digital-first card designed for a seamless and rewarding online experience, allowing application without extensive paperwork and easy online management. It provides an interest-free period of up to 50 days on spending, coupled with attractive 5X rewards on categories chosen by the cardholder. This card is an ideal choice for customers who seek a highly personalized and flexible credit card experience.

Welcome Benefits

• As a limited-period offer, the first year's annual fee for the Selfe Card is waived (excluding GST).
• Cardholders can choose two complimentary premium memberships from a selection of popular platforms such as Amazon Prime, Jio Hotstar, Sony Liv, Zee5, or Discovery+. These memberships must be claimed within 90 days of the card issuance date; unclaimed benefits will expire and cannot be renewed.

Fees

• Annual Fee: Rs. 1000.
• First Year Fee: Waived as part of a limited-period introductory offer.
• Renewal Fee Waiver: The annual renewal fee can be waived if the cardholder spends Rs. 2,40,000 or more in the preceding anniversary year.
• Card Style Charges:
  • Default Plastic Card (Blue) & Green Card: Rs. 0
  • Metal Card: Rs. 3500
• Fuel Surcharge Waiver: A 1% waiver is applicable on fuel transactions across India for transactions between Rs. 500 and Rs. 3,000, with a maximum waiver of Rs. 250 per statement cycle.
• Cash Advance / ATM Withdrawal Charges: 2.5% of the withdrawn amount or ₹250, whichever is higher. Finance charges will also apply from the day of withdrawal until full repayment.
• Interest-Free Credit Period: Enjoy up to 50 days of interest-free credit on regular purchases if the total outstanding balance is paid by the due date.
• Other Charges: Additional charges such as late payment fees, over limit fees, and charges for returned payments may apply as per the Schedule of Charges outlined in the Card Agreement / Most Important Terms & Conditions (MITC).

Rewards

• Accelerated Rewards: Earn 5X reward points on expenses made in any two preferred categories chosen from Apparel, Dining, Grocery, Utility, and Taxi.
• Standard Reward Points: Earn 2 Reward Points for every Rs. 100 spent on all other eligible transactions.
• Reward Point Value: Each Reward Point is valued at Rs. 0.35.
• Domestic Lounge Access: Cardholders receive one complimentary domestic airport lounge access per calendar quarter.
• Insurance Coverage: The card includes comprehensive complimentary insurance benefits, which cover air accident coverage, credit shield, and lost card liability.

Rewards Redemption Guide

• Redemption Portal: Reward points can be redeemed through Equitas Bank's dedicated rewards portal, Xchange (xchange.equitasbank.com).
• Redemption Options: Points can be exchanged for a wide array of products, vouchers, flight bookings, and hotel reservations.
• Redemption Terms: The specific catalogue of redemption options, point valuation, and conditions for redemption are governed by the card's Terms & Conditions and Most Important Terms & Conditions (MITC). The exact value per point, minimum points required for redemption, and available redemption locations may vary based on the chosen redemption option (e.g., product, voucher, travel).
• Handling Charges: Any handling or administrative charges associated with reward point redemption will be specified in the rewards programme terms or catalogue.

Card Review

The Equitas Selfe Credit Card is best suited for individuals who appreciate personalization and entertainment benefits. It offers a customizable experience through choice of reward categories, memberships, card design, payment network, and billing cycle. It is ideal for users who prioritize digital subscriptions and value flexible reward options to maximize benefits tailored to their lifestyle.

Important Product Details

• Personalized Choices:
  • Select 2 out of 5 spending categories (Apparel, Dining, Grocery, Utility, Taxi) to earn 5X reward points.
  • Choose 2 complimentary premium memberships from leading platforms like Amazon Prime, Jio Hotstar, Sony Liv, Zee5, or Discovery+.
  • Customize your card's physical design by choosing between a Regular (classic blue plastic), Green (eco-friendly recycled plastic), or a Sleek Metal Card.
  • Opt for your preferred payment network, either Visa or RuPay.
  • Set your billing date to align with your financial cycle, choosing between the 12th, 16th, or 20th of every month.
• Digital Convenience: A digital-first credit card designed for online application with minimal paperwork and easy online management.
• Financial Flexibility: Offers up to 50 days of interest-free credit on retail purchases.
• Fuel Savings: Provides a 1% waiver on fuel surcharge for eligible transactions.
• Travel Perk: Includes one complimentary domestic lounge access per calendar quarter.
• Security & Protection: Features comprehensive insurance, including air accident coverage, credit shield, and lost card liability.
• Automated Payments: Facilitates automated recurring payments through Mandate HQ.

Other Details

• The card is designed to allow customers significant choice and customization across various features, catering to individual preferences.
• Application for the credit card can be initiated online via the Equitas Bank Website’s Credit Cards section, by selecting the Selfe variant and clicking "Apply Now," or by giving a missed call to 1800 103 2977.
• The application process typically involves providing KYC, identity, address, and income proofs.
• Upon approval, the card is dispatched to the customer, and may require activation (e.g., first transaction or PIN setup).
• The application approval process can be instantaneous or may take some time depending on internal bank checks.