RBL Bank Moneytap Credit Card – Benefits, Fees & Eligibility

Introduction

The RBL Bank MoneyTap Credit Card, issued by RBL Bank, was positioned as a mid-range credit card designed for individuals who frequently engage in online spending, dining, and entertainment. Its key differentiating benefits included a generous 20% cashback on Zomato orders, accelerated 2x reward points on online purchases, and complimentary movie tickets. It is important to note that RBL Bank is no longer accepting applications for this credit card.

Welcome Benefits

• Earn 2,000 Reward Points on the first swipe/activation of the credit card within 30 days of card setup and after payment of the annual fee.
• The welcome benefit will be credited within 60 days of card setup.

Fees

• Annual Membership Fee: INR 499 plus applicable taxes, charged from the first year onwards.
• Fee Waiver: The annual membership fee for the subsequent year will be waived if total spends of INR 2 lakhs are achieved in the preceding year.
  • Note: W.e.f. October 15, 2024, purchases made on select excluded categories (as detailed in the reward points section) will not be considered for the fee waiver benefit.
• Reward Redemption Fee: A fee of INR 99 plus GST will be applicable on the redemption of available reward points earned on RBL Bank Credit Cards. This fee is levied once for all redemptions made in a single day.
• Fuel Surcharge Waiver: Enjoy a waiver of fuel surcharge for transactions between INR 500 and INR 4,000 at all fuel stations, with a maximum waiver of INR 100 per month.

Rewards

Reward Points Earning

• Earn 1 reward point for every INR 100 spent on all purchases at merchant outlets (offline).
• Earn 2 reward points for every INR 100 spent on all online purchases (excluding credit-line/loan spends).
• Reward Point Exclusions:
  • Base and Accelerated reward points are not accrued on spends made on fuel, utilities, railways, rental, wallet load, insurance, and government services.
  • W.e.f. October 15, 2024, Base and Accelerated reward points will additionally not be accrued on select categories/Merchant Category Codes (MCCs) including Fuel & Auto (0032, 2541, 4001, 5542, 5541, 5172), Utilities (4900), Insurance (6300, 6310), Quasi-Cash (6050, 6051, 4829), Railways (0066, 4011, 4112), Real Estate/Rental (6513), Education (8220, 8244, 8249, 8211, 8241, 8299), Wallet/Service Providers (6540), Government Services (9400, 1490, 2490, 2995, 7800, 9406, 9222, 9405, 9399, 9211, 9402, 9401, 9311, 9223), Contracted Services (1711, 1740, 0763, 1520, 0742, 1761, 1799, 1750, 1731, 1771, 0780), Cash (6011, 6010), Miscellaneous (5960), Bills2Pay, and EMI conversion of retail transactions (Split-N-Pay & EMI conversion requests placed at the time of making transactions at POS/Web/Mobile App).

Dining Benefits

• Earn 20% cashback on all Zomato orders, with a maximum cashback of INR 200 per month.

Movie Benefits

• Get 1+1 free movie ticket every month, up to INR 200, at BookMyShow for Saturday & Sunday shows.

Milestone Benefits

• Receive an INR 1,000 Amazon voucher on crossing total spends of INR 2.5 Lacs in a year.
  • Note: W.e.f. October 15, 2024, purchases made on the above-mentioned excluded categories will not be considered for the milestone benefit.

Fuel Benefits

• Enjoy a waiver of fuel surcharge at all fuel stations for fuel transactions between INR 500 and INR 4,000, with a maximum waiver of INR 100 per month.

Rewards Redemption Guide

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

Card Review

The RBL Bank MoneyTap Credit Card offered a compelling value proposition, particularly for users with a digital-first lifestyle, frequent Zomato orders, and a penchant for weekend movies, with an estimated total annual value of INR 8,500+.

• Pros:
  • Accelerated reward points on online expenditures.
  • Consistent monthly cashback on Zomato orders.
  • Complimentary movie tickets for weekend entertainment.
  • A valuable Amazon voucher as an annual spend milestone reward.
  • Waiver of fuel surcharge, adding to savings.
• Cons:
  • An annual membership fee is applicable, though it can be waived.
  • A fee is charged for reward point redemptions.
  • A significant number of merchant categories are excluded from earning reward points and contributing to spend-based waivers and milestone benefits, which could limit the card's overall value for some spending patterns.
• Who should apply (Historically): This card was ideal for individuals who frequently spend online, use Zomato for food delivery, and enjoy watching movies on weekends, provided they could align their spending to meet the annual milestone and fee waiver criteria.

Important Product Details

• Applications for the RBL Bank MoneyTap Credit Card are no longer being accepted.
• The card offers 2x reward points on online purchases and 1x reward point on offline purchases.
• Cardholders receive 20% cashback on Zomato orders, capped at INR 200 per month.
• Enjoy 1+1 free movie tickets monthly at BookMyShow for Saturday and Sunday shows, up to INR 200.
• An INR 1,000 Amazon voucher is awarded upon achieving annual spends of INR 2.5 Lacs.
• The annual membership fee is INR 499 plus taxes, with a waiver available on spending INR 2 lakhs in a year.
• A reward redemption fee of INR 99 plus GST is applicable per redemption instance.
• There is an extensive list of categories excluded from earning reward points and contributing to fee waiver/milestone benefits, including fuel, utilities, government services, wallet load, and more, with additional exclusions effective October 15, 2024.
• The RBL Bank MoneyTap Credit Card is available on both MasterCard and VISA networks.

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.
• Bills2Pay is a facility provided by RBL Bank that allows Cardmembers to pay various utility bills via the RBL MyCard App/RBL MyBank App/Internet banking channel.
• For grievance redressal, customers can refer to the Customer Grievance Redressal matrix and contact the nodal officer as per the bank's guidelines.
• Detailed terms and conditions for XpressCash are available.
• Information regarding the roles and responsibilities of the co-brand partner, MWYN Tech Pvt Ltd, is available.
• The RBI Sachet Portal is available for consumer awareness and protection.
• The co-brand partner for this card is MWYN Tech Pvt Ltd.
• The associated Digital Lending App is the RBL MyCard App.
• Important legal documents such as Most Important Terms and Conditions, Cardmember Agreement, and Schedule of Charges are available for detailed reference.