RBL BankRBL Bank Platinum Bonus Credit Card – Benefits, Fees & Eligibility
Is the RBL Bank Platinum Bonus Credit Card Right for You?
The RBL Bank Platinum Bonus Credit Card is best suited for users who prioritize Shopping. With a joining fee of INR 999 plus Goods and Service Tax (GST). and a renewal fee of INR 999 plus Goods and Service Tax (GST)., this card is positioned for cardholders who can maximize its benefits to justify the cost. It offers Reward Points as its primary reward mechanism, with a rewards rate of Earn 1,500 Reward Points monthly on 4 transactions of INR 1,000+; 5,000 RPs on INR 1L spend annually..
Key Card Details
INR 999 plus Goods and Service Tax (GST).
INR 999 plus Goods and Service Tax (GST).
Reward Points
Notable Perks
Spend-Based Waiver
Second-year annual fee of INR 999 reversed on spending INR 1,00,000 in the preceding year.
Things to Consider
Reward points are not earned on essential categories like fuel, utilities, insurance, and rent payments.
A redemption fee of INR 99 + GST is charged for every instance of reward point redemption.
Cash advance transactions incur a processing fee of 2.5% (minimum INR 500).
Benefits & Features
Welcome Offer
6,000 Reward Points (worth INR 1,500) on spending INR 2,000 within 30 days of issuance.
Rewards Rate
Earn 1,500 Reward Points monthly on 4 transactions of INR 1,000+; 5,000 RPs on INR 1L spend annually.
Reward Type
Reward Points
Reward Redemption
Redeem Reward Points via rblrewards.rbl.bank.in; a fee of INR 99 + GST applies per redemption.
Fees & Charges
Joining Fee
INR 999 plus Goods and Service Tax (GST).
Renewal Fee
INR 999 plus Goods and Service Tax (GST).
Spend-Based Waiver
Second-year annual fee of INR 999 reversed on spending INR 1,00,000 in the preceding year.
Cash Advance Charges
A processing fee of 2.5% (minimum INR 500) is applicable on unlimited ATM cash withdrawals.
Rewards Redemption Fee
INR 99 plus GST is applicable on redemption of available reward points.
Pros & Cons
Pros
Key benefits and features of this card.
Generous welcome bonus of 6,000 Reward Points upon meeting initial spend criteria.
Opportunity to earn substantial monthly and milestone reward points on spending.
Unique feature to convert cash limit into an interest-free personal loan for three months.
Benefit from unlimited ATM cash withdrawals with an interest-free period up to 50 days.
Annual fee waiver available by achieving a reasonable spend threshold in the preceding year.
Cons
Key drawbacks and limitations of this card.
Reward points are not earned on essential categories like fuel, utilities, insurance, and rent payments.
A redemption fee of INR 99 + GST is charged for every instance of reward point redemption.
Cash advance transactions incur a processing fee of 2.5% (minimum INR 500).
Welcome rewards are not applicable for First Year Free card variants, limiting initial benefits.
Product Details
Marketed as 'Power of Four Cards in One' for diverse benefits and high savings.
Offers unlimited ATM cash withdrawals with an interest-free period of up to 50 days.
Convert available cash limit into a 3-month personal loan at 1.16% p.m. with no processing fee.
Easy monitoring and management through RBL Bank's mobile application and official website.
Provides significant annual rewards and benefits estimated at INR 7,500+.
Second-year annual fee waiver available on spending INR 1,00,000 in the preceding year.
Benefits & Features
Welcome Offer
6,000 Reward Points (worth INR 1,500) on spending INR 2,000 within 30 days of issuance.
Rewards Rate
Earn 1,500 Reward Points monthly on 4 transactions of INR 1,000+; 5,000 RPs on INR 1L spend annually.
Reward Type
Reward Points
Reward Redemption
Redeem Reward Points via rblrewards.rbl.bank.in; a fee of INR 99 + GST applies per redemption.
What matters, explained clearly
Introduction
The RBL Bank Platinum Bonus SuperCard is designed to offer elevated living with a comprehensive suite of benefits, positioning it as a versatile card for everyday spending and lifestyle needs. It is described as having the "power of four cards in one," providing high savings on transactions, attractive rewards on all spends, and best-in-class milestone rewards. Cardholders can enjoy significant annual rewards and unique features like converting their cash limit into an interest-free personal loan for the first three months and unlimited ATM cash withdrawals. The card is easy to monitor and manage through RBL Bank's mobile application and official website.
Welcome Benefits
- Receive 6,000 Reward Points as a welcome gift.
- These points are credited upon payment of the joining fee and making spends of INR 2,000 within 30 days of card issuance.
- No welcome rewards will be given to First Year Free cards.
- The value of 6,000 Reward Points is estimated at INR 1,500 (assuming 1 Reward Point = INR 0.25).
Fees
- Joining Fee: INR 999 plus Goods and Service Tax (GST).
- Annual Fee: INR 999 plus Goods and Service Tax (GST).
- Spend-Based Waiver: The second-year annual fee of INR 999 will be reversed if you spend INR 1,00,000 in the preceding year.
- Cash Advance Charges: A processing fee of 2.5% (minimum INR 500) is applicable on unlimited ATM cash withdrawals.
- Rewards Redemption Fee: INR 99 plus GST is applicable on redemption of available reward points. This fee is levied one time for all redemptions made in a single day.
Rewards
- Welcome Rewards: 6,000 Reward Points (valued at INR 1,500) on meeting welcome benefit conditions.
- Monthly Transaction Rewards: Earn 1,500 Reward Points on making 4 transactions of INR 1,000 or more every month (valued at INR 3,750).
- Milestone Spends Rewards: Earn 5,000 Reward Points every time you spend INR 1,00,000 within one year (valued at INR 1,250).
- Annual Rewards: Total annual benefits are estimated at INR 7,500+.
- Reward Point Value: The value of 1 Reward Point varies from INR 0.11 to INR 0.25 across different categories on
rblrewards.rbl.bank.in. For calculation purposes, a value of INR 0.25 per Reward Point is assumed. - Reward Point Exclusions:
- Transactions made on Education, Insurance, Utilities, Rent Payments, and Wallet Load categories will not earn reward points.
- Effective from October 15, 2024, transactions made on Fuel & Auto, Quasi-Cash, Railways, Real Estate, Service Providers, Government Services, Contracted Services, Bills2pay, EMI, Miscellaneous & Cash are also not eligible for reward points.
- Categories/MCCs will be defined as per VISA & Mastercard guidelines, including specific codes for Fuel (0032, 2541, 4001, 5542, 5541, 5172), Utility (4900), Insurance (6300, 6310), Quasi-Cash (6050, 6051, 4829), Railways (0066, 4011, 4112), Rental (6513), Education (8220, 8244, 8249, 8211, 8241, 8299), Wallet (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), Misc (5960), and Bills2Pay (Tran Code - 71, Tran Code - 72).
Rewards Redemption Guide
- Reward points can be redeemed via
rblrewards.rbl.bank.in. - A Reward Redemption Fee of INR 99 + GST is applicable per redemption instance (one time for redemptions made in a single day).
Card Eligibility Criteria
- Documents Required:
- Proof of Address: Passport, Voter ID, Ration Card, Aadhaar card.
- Identity Proof: Driving Licence, Aadhaar card, Passport.
- Income Proof: Form 16, Salary Slip, IT Returns.
Important Product Details
- Power of Four Cards in One: The card is marketed as having the power of four cards in one, offering diverse benefits.
- Unlimited Cash Withdrawal: Avail unlimited ATM withdrawal facilities on your available cash limit from all ATMs in India until your billing date, with an interest-free period of up to 50 days. A processing fee of 2.5% (minimum INR 500) applies.
- Personal Loan Conversion: Convert your available cash limit into a 3-month personal loan at an interest rate of 1.16% per month, with no processing fee.
- Annual Fee Waiver: Second-year annual fee waiver on spending INR 1,00,000 in a year.
- Significant Annual Benefits: Enjoy annual rewards and benefits estimated at INR 7,500+.
Other Details
- The card limit is decided by the bank based on factors like credit utilisation ratio, credit score, and past repayment habits.
- The card is easy to monitor and manage using RBL Bank's mobile application and official website.
- RBL credit cards generally offer EMI plans to customers.
- All benefits and features are subject to Terms and Conditions.
- Important legal documents like Most Important Terms and Conditions (MITC), Vernacular MITC, Cardmember Agreement, Vernacular Cardmember Agreement, and Schedule of Charges are available on the bank's website.