RBL Bank Platinum Max Credit Card – Benefits, Fees & Eligibility

Introduction

The Platinum Max Credit Card, issued by RBL Bank, is a mid-range offering designed to complement diverse spending habits and lifestyles. Operating on both VISA and Mastercard networks, this card provides significant savings across various spending categories, including grocery, electronics, fashion, and automobile. Its key differentiating benefits include a welcome bonus of 4,000 reward points, a monthly 1+1 free movie ticket offer, and an attractive 5% discount on dining spends.

Welcome Benefits

• Receive 4,000 Reward Points upon payment of the annual fee and making spends of INR 2,000 within 30 days of card issuance.
• Welcome rewards are not applicable for First Year Free cards.
• The value of 4,000 Reward Points is estimated at INR 1,000, assuming a value of INR 0.25 per Reward Point for calculation purposes.

Fees & Charges Breakdown

• Joining Fee: INR 999 + Service Tax.
• Renewal Fee: INR 999 + Service Tax.
• Fuel Surcharge Waiver: Enjoy a fuel surcharge waiver of up to INR 100 per month. This waiver is applicable on fuel transactions with a minimum value of INR 500 and a maximum value of INR 4,000.
• Cash Advance Charges: A processing fee of 2.5% (minimum INR 500) is applicable for Easy Cash withdrawals from ATMs.
• Reward Redemption Fee: A fee of INR 99 + GST is applicable on the redemption of available reward points. This fee is levied once for all redemptions made in a single day.

Rewards & Cashback Structure

• Base Earning Rate: Earn 2 Reward Points for every INR 100 spent on most categories.
• Accelerated Earning Rate:
  • Dining: Earn 20 Reward Points for every INR 100 spent on dining on Wednesdays, which translates to an effective 5% discount. A maximum of 1,000 Reward Points can be earned per month in this category.
• Reward Point Value: The value of 1 Reward Point varies from INR 0.11 to INR 0.25 across different redemption categories. For calculation purposes, a value of INR 0.25 per Reward Point is assumed.
• Reward Redemption: Points can be redeemed via the RBL Bank rewards portal at rblrewards.rbl.bank.in.
• Reward Point Exclusions:
  • Effective November 13, 2023: Transactions made on Education, Insurance, Utilities, Rent Payments, and Wallet Load categories will not earn reward points.
  • Effective October 15, 2024: Further modifications to product terms will exclude transactions made on Fuel & Auto, Quasi-Cash, Railways, Real Estate, Service Providers, Government Services, Contracted Services, Bills2pay, EMI, Miscellaneous, and Cash categories from earning reward points.

Travel, Lounge & Lifestyle Perks

• Movie Offers: Get a 1+1 free movie ticket (up to INR 200) on BookMyShow once a month, specifically on any Wednesday.
• Dining Discounts: Avail a 5% discount on dining spends through accelerated reward points (20 Reward Points for every INR 100 spent on Wednesday, with a maximum of 1,000 Rewards per month).

Credit Card Review

• Overall Verdict: The Platinum Max Credit Card is a versatile offering that aligns well with diverse spending habits and lifestyles. It provides substantial savings across various retail categories and offers valuable monthly benefits, including movie tickets and dining discounts.
• Who Should Apply: This card is ideal for individuals who frequently dine out (especially on Wednesdays), enjoy movies, and are looking for a general-purpose rewards card that also includes a fuel surcharge waiver.
• Pros:
  • Generous welcome reward points.
  • Monthly 1+1 free movie tickets.
  • Accelerated reward earnings on dining spends.
  • Fuel surcharge waiver.
  • Convenient EMI Finance option for large purchases.
  • Easy Cash facility for ATM withdrawals.
• Cons:
  • An extensive and expanding list of categories are excluded from earning reward points.
  • A reward redemption fee is applicable.
  • Welcome rewards are not provided for First Year Free cards.

Important Product Details

• Positive Highlights:
  • 4,000 Welcome Reward Points.
  • Monthly 1+1 free movie ticket on BookMyShow.
  • Effective 5% discount on dining spends via accelerated rewards.
  • Fuel surcharge waiver of up to INR 100 per month.
  • Availability of EMI Finance and Easy Cash facilities.
• Negative Highlights:
  • Significant exclusions for reward point earnings, which will expand further from October 2024.
  • A fee of INR 99 + GST is charged for reward redemptions.

Other Details

• EMI Finance: Allows cardmembers to convert purchases across various categories, including durables, electronics, furniture, clothes & accessories, and groceries, into easy EMIs.
• Easy Cash: Provides unlimited withdrawal of your available cash limit from all ATMs in India up to your billing date.
• BookMyShow Offer Redemption: Cardmembers can avail the movie offer by applying it under the offers/discounts section on the BookMyShow checkout page. This offer cannot be combined with any other promotions.
• General Terms & Conditions: All features, offers, and benefits are subject to applicable terms and conditions.