RBL Bank Moneytap Credit Card – Benefits, Fees & Eligibility

Introduction

The RBL Bank MoneyTap Credit Card, issued by RBL Bank, is positioned as a mid-range credit card designed to offer significant value, particularly for online shoppers, dining enthusiasts, and moviegoers. Key differentiating benefits include 20% cashback on Zomato orders, accelerated 2x rewards on online purchases, and a waiver on fuel surcharges. It is important to note that RBL Bank is currently no longer accepting applications for this credit card.

Welcome Benefits

• Earn 2,000 Reward Points on the first swipe/activation of the RBL Bank MoneyTap Credit Card.
• This welcome benefit is credited within 60 days of card setup, provided the annual fee has been paid and the first card transaction is made within 30 days of card setup.

Fees

• Joining Fee: Not explicitly mentioned as a separate joining fee, but an Annual Membership fee is applicable from the first year.
• Renewal Fee: INR 499 plus taxes, applicable from the first year onwards.
• Spend-Based Waiver: The annual membership fee of INR 499 plus taxes will be waived off if you spend INR 2 lakhs or more in a year.
  • Waiver Exclusions (w.e.f. October 15, 2024): Purchases made on select categories/Merchant Category Codes (MCCs) will not be considered for the fee waiver benefits. These categories include Fuel & Auto, Quasi-Cash, Real Estate/Rental, Education, Wallet/Service Providers, Contracted Services, Miscellaneous, Cash, Bills2pay, and EMI conversion of retail transactions.
• Rewards Redemption Fee: A fee of INR 99 + GST will be applicable on redemption of your available reward points. This fee is levied once for all redemptions made in a single day.
• Fuel Surcharge: Enjoy a waiver of fuel surcharge at all fuel stations.
  • This waiver is valid for fuel transactions between INR 500 and INR 4,000.
  • A maximum waiver of INR 100 per month is applicable.
• Cash Advance Charges: Not specified in the provided content.
• Foreign Currency Markup: Not specified in the provided content.
• Interest Rates: Not specified in the provided content.

Rewards

• Reward Points on All Purchases:
  • Earn 1 reward point for every INR 100 spent on all your purchases at merchant outlets (offline).
  • Earn 2 reward points for every INR 100 spent on all your online purchases (credit-line/loan spends excluded).
  • Reward Point Exclusions: Base and Accelerated reward points are not accrued on spends related to fuel, utilities, railways, rental, wallet load, insurance, and government services.
  • Additional Reward Point Exclusions (w.e.f. October 15, 2024): Base and Accelerated reward points will not be accrued on the following categories/MCCs:
    • Fuel & Auto (MCCs: 0032, 2541, 4001, 5542, 5541, 5172)
    • Utilities (MCC: 4900)
    • Insurance (MCCs: 6300, 6310)
    • Quasi-Cash (MCCs: 6050, 6051, 4829)
    • Railways (MCCs: 0066, 4011, 4112)
    • Real Estate/Rental (MCC: 6513)
    • Education (MCCs: 8220, 8244, 8249, 8211, 8241, 8299)
    • Wallet/Service Providers (MCC: 6540)
    • Government Services (MCCs: 9400, 1490, 2490, 2995, 7800, 9406, 9222, 9405, 9399, 9211, 9402, 9401, 9311, 9223)
    • Contracted Services (MCCs: 1711, 1740, 0763, 1520, 0742, 1761, 1799, 1750, 1731, 1771, 0780)
    • Cash (MCCs: 6011, 6010)
    • Miscellaneous (MCC: 5960)
    • Bills2pay (NA)
    • EMI Transactions (NA)
• Cashbacks & Discounts:
  • Zomato: Earn 20% cashback on all Zomato orders, up to INR 200 per month.
• Milestone Benefits:
  • Get an INR 1,000 Amazon voucher on crossing spends of INR 2.5 Lacs in a year.
  • Milestone Benefit Exclusions (w.e.f. October 15, 2024): Purchases made on the categories/MCCs mentioned in the reward points exclusion section will not be considered for the milestone benefit.
• Complimentary Movie Tickets:
  • Get 1+1 free movie ticket every month, up to INR 200, at BookMyShow for Saturday & Sunday shows.

Rewards Redemption Guide

• Reward points can be redeemed for various products at rblrewards.rbl.bank.in.
• A reward redemption fee of INR 99 + GST will be applicable on redemption of your available reward points. This fee is levied once for all redemptions made in a single day.

Card Review

The RBL Bank MoneyTap Credit Card offers a compelling value proposition for individuals who frequently spend on online purchases, Zomato, and movies, with an estimated total annual value of INR 8,500+ based on assumed monthly spends. The card provides accelerated rewards for online transactions and a consistent monthly cashback on Zomato, making it attractive for digital-savvy users. The 1+1 movie ticket benefit on weekends and the fuel surcharge waiver further enhance its appeal for lifestyle and daily utility spends. However, a significant drawback is that applications for this card are currently not being accepted. Additionally, the extensive list of categories excluded from earning reward points and for fee/milestone waivers (especially effective from October 15, 2024) could limit the earning potential for some users. The annual fee is reasonable and can be waived with sufficient annual spending.

Important Product Details

• Application Status: RBL Bank is currently no longer accepting applications for the RBL Bank MoneyTap Credit Card.
• Annual Fee: INR 499 plus taxes, waived on annual spends of INR 2 lakhs.
• Online Spends: Earn 2 reward points for every INR 100 spent online.
• Offline Spends: Earn 1 reward point for every INR 100 spent offline.
• Zomato Cashback: 20% cashback on Zomato orders, capped at INR 200 per month.
• Movie Benefit: 1+1 free movie ticket monthly (up to INR 200) on BookMyShow for Saturday/Sunday shows.
• Milestone Benefit: INR 1,000 Amazon voucher on annual spends of INR 2.5 Lacs.
• Fuel Surcharge Waiver: Up to INR 100 per month for transactions between INR 500 and INR 4,000.
• Reward Point & Waiver Exclusions: A comprehensive list of categories (including Fuel & Auto, Utilities, Insurance, Quasi-Cash, Real Estate/Rental, Education, Wallet/Service Providers, Government Services, Contracted Services, Cash, Bills2pay, and EMI Transactions) are excluded from earning reward points and from contributing to fee/milestone waivers, effective October 15, 2024.
• Reward Redemption Fee: A fee of INR 99 + GST applies per redemption instance.
• Welcome Benefit: 2,000 Reward Points on first swipe/activation within 30 days of card setup and annual fee payment.

Other Details

• MWYN Tech Pvt Limited is a recognized digital lending partner with a revenue sharing arrangement with RBL Bank for the MoneyTap Credit Card.
• The RBL Bank MoneyTap Credit Card is available on both MasterCard & VISA networks.
• Bills2Pay is a facility provided by RBL Bank allowing Cardmembers to pay various utility bills via the RBL MyBank App/Internet banking channel.
• Information regarding Grievance Redressal, XpressCash Terms & Conditions, Roles & Responsibilities of the co-brand partner, and the RBI Sachet Portal is available via provided links.
• The co-brand partner for this card is MWYN Tech Pvt Ltd.
• The Digital Lending App associated with this card is the RBL MyBank App.
• General legal disclaimers and links to Most Important Terms and Conditions, Cardmember Agreement, Schedule of Charges, and ways of making payments are available.