RBL Bank MyFirst Credit Card – Benefits, Fees & Eligibility

Introduction

The RBL MyFirst Super Card, issued by RBL Bank, is an entry-level credit card designed to offer rewards on essential expenditures such as education and bill payments. Its primary differentiating benefits include specific reward points for education and bill payments, alongside a monthly waiver on fuel surcharges.

Welcome Benefits

• Earn 2,000 Reward Points upon payment of the joining fees and spending a minimum of ₹2,000 within the first 30 days of card issuance.

Fees

• Annual Fee: ₹999 + GST.
• Fuel Surcharge Waiver: Up to INR 100 per month.
• Finance Charges: 47.88% per annum.

Rewards

• Rewards on Education expenses.
• Rewards on Bill Payment expenses.
• Fuel surcharge waiver of up to INR 100 per month.
• Earn Reward Points at a rate of 2.0% on Utilities.
• Earn Reward Points at a rate of 0.3% on Groceries.
• Earn Reward Points at a rate of 0.3% on Clothing and Fashion.
• Earn Reward Points at a rate of 0.3% on Technology and Electronics.
• Earn Reward Points at a rate of 0.3% on Food and Dining.
• Earn Reward Points at a rate of 0.3% on Entertainment.
• Earn Reward Points at a rate of 0.3% on Travel and Leisure.
• Zero Reward Points on Transportation.
• Zero domestic airport lounge access.
• Zero international airport lounge access.
• Milestone benefits are not available.
• Zero golf rounds and zero lessons across golf courses (Luxury Benefits).

Rewards Redemption Guide

• The Reward Points conversion rate is 1 Reward Point = ₹0.25.
• Credit card points can generally be redeemed for flights, hotels, product purchases, cash vouchers, and air miles.

Card Eligibility Criteria

• Eligibility rules:
  • Age: 21-70 years.
  • Employment Status: Must be salaried.
  • Residency: Available only for Indian residents.

Card Review

• The RBL MyFirst Super Card has a 1 Finance Score of 19 out of 100.
• This card ranks 279th out of other cards in its fee segment.
• It is indicated as suitable for "None of the selected purpose(s)" based on the provided analysis.
• Pros: Offers specific rewards on education and bill payments, and includes a fuel surcharge waiver.
• Cons: The card comes with a notable annual fee for relatively limited benefits, particularly with very low reward rates (0.3%) on most common spending categories. It lacks airport lounge access, milestone benefits, luxury benefits like golf, and bundled insurance. The high finance charge of 47.88% per annum is a significant disadvantage.

Important Product Details

• Positive Highlights

  • Rewards on Education.
  • Rewards on Bill Payment.
  • 2.0% Reward Points on Utilities.
  • Fuel surcharge waiver up to INR 100 per month.
  • Welcome benefit of 2,000 Reward Points on meeting specified spend criteria.

• Negative Highlights

  • Annual Fee of ₹999 + GST.
  • Low reward rate of 0.3% on Groceries, Clothing and Fashion, Technology and Electronics, Food and Dining, Entertainment, and Travel and Leisure.
  • Zero Reward Points on Transportation.
  • No domestic or international airport lounge access.
  • No milestone benefits.
  • No luxury benefits (golf).
  • No bundled insurance, including Life, Health, Travel, or Credit Liability Cover.
  • High finance charges of 47.88% per annum.
  • Low 1 Finance Score (19/100) and a low ranking (279th in its fee segment).

Other Details

• All benefits and features are subject to Terms and Conditions.
• 1 Finance Pvt. Ltd. operates independently and does not issue or provide credit cards. The information provided is for educational and informational purposes only and should not be considered financial advice. It is essential for individuals to conduct their own thorough research and analysis, and if uncertain about any financial matters, to seek guidance from an impartial financial advisor.
• The evaluation methodology for credit cards includes in-depth market research, shortlisting essential features, categorizing cards based on primary user purposes (e.g., groceries, fuel, dining), crafting a detailed evaluation framework with varying weights for parameters across categories, rigorous comparative analysis of each card, and continuous market monitoring for updates.