RBL Bank Paisabazaar Duet Plus Credit Card – Benefits, Fees & Eligibility

Introduction

The RBL Bank Paisabazaar Duet Plus Credit Card, issued by RBL Bank in partnership with Paisabazaar.com, is positioned as a cashback-centric credit card designed for users seeking straightforward rewards without a points system. It offers significant cashback on travel and dining, along with monthly benefits for movies and fuel. A key differentiating feature is the Xpress Cash facility, allowing cardholders to avail loans within their credit limit.

Welcome Benefits

• Receive INR 250 Cashback as a welcome benefit.
• To avail, make a card purchase within 30 days of card issuance and pay the annual membership fee by the payment due date.
• The benefit will be credited to your card account within 2 weeks of the purchase settlement date.
• Cashback credit can be viewed in your monthly credit card statement.

Fees

• Joining Fee: INR 1499 + GST
• Annual/Renewal Fee: INR 1499 + GST
• Spend-Based Waiver: The annual fee for the forthcoming year is waived off on spends of INR 4 lacs or more in the previous membership year.
  • Purchases/spends on the following Merchant Categories will not be included for annual fee waiver calculation:
    • Fuel & Auto (MCC Codes: 0032, 2541, 4001, 5542, 5541, 5172)
    • Utilities (MCC Code: 4900)
    • Insurance (MCC Codes: 6300, 6310)
    • Quasi-Cash (MCC Codes: 6050, 6051, 4829)
    • Railways (MCC Codes: 0066, 4011, 4112)
    • Real Estate/Rental (MCC Code: 6513)
    • Education (MCC Codes: 8220, 8244, 8249, 8211, 8241, 8299)
    • Wallets/Service Providers (MCC Code: 6540)
    • Government Services (MCC Codes: 9400, 1490, 2490, 2995, 7800, 9406, 9222, 9405, 9399, 9211, 9402, 9401, 9311, 9223)
    • Contracted Services (MCC Codes: 1711, 1740, 0763, 1520, 0742, 1761, 1799, 1750, 1731, 1771, 0780)
    • Cash (MCC Codes: 6011, 6010)
    • Miscellaneous (MCC Code: 5960)
    • Bills2Pay (NA) - Bills2Pay is a facility by RBL Bank for utility bill payments via RBL MyBank App/Internet banking.
• Finance Charges (Interest Rates): APR up to 3.99% p.m. (47.88% p.a.)
• Over Limit Penalty: INR 600 per instance
• Rent Payment Charges: 1% Processing fee on transaction amount
• Foreign Currency Markup (Forex Charges): 3.49% of the transaction value
• Minimum Repayment Amount: 5% of Total outstanding (Minimum INR 100) + All charges/fees/taxes + EMI
• Cheque Return Fees: 2% of Total Amount Due or Minimum of INR 500, whichever is higher
• Late Payment Charges:
  • Less than or equal to INR 100: NIL
  • Above INR 100 and up to INR 500: INR 100
  • Above INR 500 and up to INR 5000: INR 500
  • Above INR 5000 and up to INR 10,000: INR 750
  • Above INR 10,000 and up to INR 25,000: INR 900
  • Above INR 25,000 and up to INR 50,000: INR 1000
  • Above INR 50,000: INR 1300
• Card Replacement Fees: INR 200 + GST
• Cash Advance Fees: 2.5% (Minimum INR 500) of the cash amount
• Fuel Surcharge: Reversal of up to INR 100 per month, valid on fuel transactions between INR 500 & INR 4,000.

Rewards

• Cashback Benefits:
  • Enjoy 2.5% cashback on all travel & dining transactions.
  • Earn 1% cashback on other eligible purchases.
  • You can earn a maximum cashback of INR 500 per calendar month (Travel & Dining purchases capped at INR 200 and all other purchases capped at INR 300).
  • Cashback will be credited to your card account within 2 weeks of the purchase settlement date and can be viewed in your monthly credit card statement.
  • Purchases made on the following categories will not be eligible for earning cashback:
    • Fuel & Auto (MCC Codes: 0032, 2541, 4001, 5542, 5541, 5172)
    • Utilities (MCC Code: 4900)
    • Insurance (MCC Codes: 6300, 6310)
    • Quasi-Cash (MCC Codes: 6050, 6051, 4829)
    • Railways (MCC Codes: 0066, 4011, 4112)
    • Real Estate/Rental (MCC Code: 6513)
    • Education (MCC Codes: 8220, 8244, 8249, 8211, 8241, 8299)
    • Wallets/Service Providers (MCC Code: 6540)
    • Government Services (MCC Codes: 9400, 1490, 2490, 2995, 7800, 9406, 9222, 9405, 9399, 9211, 9402, 9401, 9311, 9223)
    • Contracted Services (MCC Codes: 1711, 1740, 0763, 1520, 0742, 1761, 1799, 1750, 1731, 1771, 0780)
    • Cash (MCC Codes: 6011, 6010)
    • Miscellaneous (MCC Code: 5960)
    • Bills2Pay (NA) - Bills2Pay is a facility by RBL Bank for utility bill payments via RBL MyBank App/Internet banking.
• Movie Tickets:
  • Avail 1+1 BookMyShow offer on tickets for weekend shows.
  • This offer is valid once per billing cycle month, up to INR 200 off.
• Fuel Surcharge Reversal:
  • Surcharge reversal of up to INR 100 per month.
  • Valid on fuel transactions between INR 500 & INR 4,000.
  • The cumulative benefit will be reflected in your monthly credit card statement.
• Fund Transfer using Xpress Cash Facility:
  • You can avail Fund Transfer using the ‘Xpress Cash’ facility available on the RBL MyBank Mobile App.
  • This allows you to avail a loan within your Credit Card Limit.
  • Pay interest only on the amount used, not the entire credit limit.
  • Pay back in easy EMIs at your convenience.

Rewards Redemption Guide

• Cashback: Cashback is automatically credited to your card account within 2 weeks of the purchase settlement date and will appear in your monthly credit card statement.
• Movie Tickets: Instructions for availing the 1+1 BookMyShow offer are available on the bank's website.
• Fuel Surcharge Reversal: The cumulative reversal amount will be automatically reflected in your monthly credit card statement.
• Xpress Cash Facility: To use, visit the RBL MyBank Mobile App, click on "Get Instant Cash" banner, enter details like loan amount and tenure, view EMI, interest rate, and processing fee, then enter bank account details to get the amount credited within 3-4 working days.

Card Eligibility Criteria

• Age: Applicants should be at least 21 years old.
• Income:
  • Salaried individuals: A stable net monthly income of INR 20,000 or more is essential.
  • Self-Employed Individuals/Professionals: A minimum annual income of INR 3 lakhs is required.
• Credit Score: A good CIBIL score, ideally between 750 and 900, can significantly boost approval chances.
• Citizenship: The applicant must be an Indian citizen.
• Address: A valid address proof is required.

Documents Required

• Identity Proof: Aadhaar card, Passport, PAN card.
• Address Proof: Any Utility bill, Passport, or Voter ID.
• Income Proof: Salary slips, bank statements, or IT returns.

Card Review

The RBL Bank Paisabazaar Duet Plus Credit Card is a solid choice for individuals who prefer a straightforward cashback program over complex reward points. It offers competitive cashback rates on popular categories like travel and dining, complemented by valuable monthly benefits for movies and fuel. The Xpress Cash facility adds a layer of financial flexibility, allowing access to funds within the credit limit.

• Pros:
  • Simple cashback program with no points, making rewards easy to understand and utilize.
  • Attractive cashback rates of 2.5% on travel and dining.
  • Regular monthly benefits including 1+1 movie tickets and fuel surcharge reversal.
  • Xpress Cash facility provides convenient access to funds within the credit limit.
  • Annual fee waiver on achieving a reasonable spend threshold (INR 4 lacs).
• Cons:
  • The monthly cashback is capped at INR 500, which might limit high spenders.
  • A significant number of merchant categories are excluded from both cashback earnings and annual fee waiver calculations.
  • High finance charges (APR up to 47.88% p.a.) if balances are not paid in full.
  • Foreign currency markup of 3.49% is on the higher side.
  • Cash advance fees are 2.5% (Min. INR 500).
• Who should apply: This card is ideal for individuals who frequently spend on travel and dining, enjoy movies, and regularly refuel their vehicles. It's also beneficial for those who might occasionally need quick access to funds through the Xpress Cash facility. Cardholders should be mindful of the cashback caps and excluded categories to maximize benefits and aim to meet the annual spend for fee waiver.

Important Product Details

• Card Name: RBL Bank Paisabazaar Duet Plus Credit Card
• Issuing Bank: RBL Bank
• Network: MasterCard
• Key Benefits:
  • INR 250 Welcome Cashback.
  • 2.5% cashback on travel & dining, 1% on other eligible purchases (capped at INR 500 per calendar month).
  • 1+1 BookMyShow offer for weekend shows (once per billing cycle, up to INR 200 off).
  • Fuel surcharge reversal up to INR 100 per month on transactions between INR 500 and INR 4,000.
  • Xpress Cash facility for availing loans within the credit card limit.
• Fees & Charges:
  • Joining Fee: INR 1499 + GST
  • Annual/Renewal Fee: INR 1499 + GST (waived on spends of INR 4 lacs or more in the previous membership year, with specific exclusions).
  • Finance Charges: APR up to 3.99% p.m. (47.88% p.a.).
  • Foreign Currency Markup: 3.49% of the transaction value.
  • Cash Advance Fees: 2.5% (Minimum INR 500) of the cash amount.
• Credit Limit: The credit limit is based on multiple factors such as income, repaying capacity, and credit history, and is communicated at the time of card issuance. While not fixed, it can be up to INR 10 Lakh. Pre-approved credit limit increases may be offered to existing cardholders.
• Co-Brand Partner: Paisabazaar Marketing and Consulting Pvt Ltd.

Other Details

• There is a revenue sharing arrangement between RBL Bank & Paisabazaar.com for this card.
• The card operates on the MasterCard network.
• Digital Lending App: RBL MyBank Mobile App.
• Cash Advance Withdrawal Limit: Around 20-40% of the credit limit.
• Grievance Redressal: Information regarding customer grievance redressal and contact details for the nodal officer are available on the bank's website.
• Roles & Responsibilities: Complete details of activities engaged by the co-brand partner, Paisabazaar Marketing and Consulting Pvt Ltd, are available.
• RBI Sachet Portal: A link to the RBI Sachet Portal is provided.
• Contact Bank:
  • Call Center: 2261156300
  • Email: customercare@rblbank.com
  • Mailing Address: RBL Bank Ltd. One World Center, Tower 2B, 6th Floor, 841, Senapati Bapat Marg, Lower Parel (W), Mumbai 400013. India.
• Various legal disclaimers, product terms & conditions, and most important terms and conditions (MITC) are available on the bank's website.