RBL Bank Aspire Banking Credit Card – Benefits, Fees & Eligibility

Introduction

The RBL Bank Aspire Banking Credit Card, issued by RBL Bank, is specifically designed for its Aspire Banking customers. Positioned as a simple and rewarding card for everyday use, it primarily focuses on cashback benefits. Key differentiating benefits include up to 3% cashback on select spends, a potential annual yield of 15.9%, and a zero annual fee for Aspire Banking customers. It also offers complimentary domestic airport lounge access and a Buy One Get One movie ticket offer.

Fees

• Joining Fee: ₹1,500 + GST. This fee is waived for Aspire Banking customers, making the card lifetime free for them.
• Annual Fee: ₹1,500 + GST. This fee is waived for Aspire Banking customers, making the card lifetime free for them.
• Rewards Redemption Fee: ₹99 + GST.
• Foreign Currency Markup: 3.5%.
• Interest Rates: Up to 3.99% per month or 47.88% per annum.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver.
• Cash Advance Charges: 2.5% (minimum ₹500).

Rewards

• Cashback:
  • Earn 1% cashback on all eligible transactions, capped at ₹1,000 per billing cycle.
  • Enjoy unlimited 3% cashback on flights, hotels, shopping, and vouchers when purchases are made through the RBL Rewards Portal.
  • Cashback will not apply to certain transaction types, including railway bookings, fuel purchases, utility payments, wallet loads, rental or real-estate payments, insurance transactions, education payments, government services, contracted services, and cash-related transactions.
• Milestone Benefits:
  • Spend ₹3 Lakh and receive ₹1,500 cashback.
  • Spend ₹5 Lakh and receive an additional ₹3,000 cashback (totaling ₹4,500 for ₹5 Lakh spend).
  • Transactions related to Bills2Pay and EMI will not qualify for milestone benefits.
• Movies:
  • Receive a Buy One Get One Free offer on movie tickets each month when booking two or more tickets on BookMyShow. The discount is capped at ₹150 per month.
• Domestic Lounge Access:
  • Get one complimentary domestic airport lounge visit each quarter. This benefit is unlocked on spends of ₹35,000 or more in the previous quarter. Unused airport lounge visits cannot be carried forward.
• International Lounge Access: Not applicable.
• Golf: Not applicable.
• Insurance Benefits: Not applicable.

Rewards Redemption Guide

• Cashback earned is transferred to your RBL Savings Account.

Card Review

• Overall Verdict: The RBL Bank Aspire Banking Credit Card is a good choice for individuals seeking a straightforward card to save on everyday spending, particularly those who are Aspire Banking customers. Its primary strength lies in its cashback program.
• Who Should Apply:
  • Aspire Banking customers, as the card becomes lifetime free for them, maximizing cashback earnings.
  • Regular shoppers looking for cashback on daily transactions.
  • Individuals who frequently make purchases through the RBL Rewards Portal to leverage the 3% cashback.
  • High spenders who can meet the annual spending thresholds to unlock additional milestone cashback benefits of up to ₹4,500.
• Pros:
  • Can be availed as lifetime free for Aspire Banking customers.
• Cons:
  • The 1% base cashback is capped at ₹1,000 per billing cycle, which is considered quite low.

Important Product Details

• The RBL Bank Aspire Banking Credit Card is most suited for those looking for a cashback card.
• It offers up to 3% cashback on specific categories and 1% on eligible transactions.
• Aspire Banking customers can enjoy a zero annual fee.
• Cardholders receive one complimentary domestic lounge visit each quarter upon meeting spending criteria.
• The card offers a potential annual yield of 15.9%.

Other Details

• The card is best suited for Shopping.