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

Introduction

The RBL Bank Platinum ValuePlus Credit Card, issued by RBL Bank, is positioned as a mid-range credit card designed to add significant value to everyday spending, particularly focusing on fuel needs. It offers high savings, best-in-class rewards, vouchers, and discounts. Key differentiating benefits include a welcome gift of INR 500 worth of gift vouchers, a second-year annual fee reversal on achieving a specific spend threshold, cashback on fuel purchases, and a monthly fuel surcharge waiver. The card also provides convenient features like EMI finance and easy cash withdrawal options.

Welcome Benefits

• Receive INR 500 worth of Gift Vouchers upon payment of the annual fee and making spends of INR 2,000 within 30 days of card issuance. (Note: No welcome rewards will be given to First Year Free cards).
• Earn gift vouchers worth INR 1,000 every time you spend INR 1,00,000 in one year.

Fees

• Joining Fee: INR 499 (Plus Service Tax).
• Annual Fee: INR 499 (Plus Service Tax).
• Spend-Based Waiver: The second year annual fee of INR 499 will be reversed if you spend INR 50,000 in a year.
• Fuel Surcharge: A waiver of up to INR 100 per month is provided. This surcharge waiver is applicable on minimum fuel transactions of INR 500 and maximum of INR 4,000.
• Cash Advance Charges: A processing fee of 2.5% (minimum INR 500) is applicable for Easy Cash withdrawals.

Rewards

• Fuel Cashback: Get 10% cashback on Fuel Purchases, capped at INR 250 per month. This cashback will be credited in the form of reward points.
• Spend-Based Vouchers: Earn gift vouchers worth INR 1,000 every time you spend INR 1,00,000 in one year.
• EMI Finance: Shop for durables, electronics, furniture, clothes & accessories, groceries, and much more, and divide all your purchases into easy EMIs.
• Easy Cash: Enjoy unlimited and interest-free cash withdrawals of your available cash limit from all ATMs in India up to your billing date. A processing fee of 2.5% (minimum INR 500) applies.
• Emergency Advance: Convert your cash limit into a personal loan for up to 3 months, available once per year.

Rewards Redemption Guide

• Cashback earned can be redeemed directly from rblrewards.rbl.bank.in.

Card Eligibility Criteria

• Proof of Address: Acceptable documents include Ration Card, Passport, Voter ID, and Aadhaar card.
• Identity Proof: Acceptable documents include Driving License, Passport, and Aadhaar card.
• Income Proof: Acceptable documents include Form 16, IT Returns, and Salary Slip.
• This list of documents is indicative, and the bank may request other documents as required.
• The bank determines the credit limit by assessing various factors such as your credit score, credit utilization ratio, and past repayment habits.

Important Product Details

• Welcome benefit of INR 500 Gift Vouchers.
• Second year annual fee waiver on spending INR 50,000.
• 10% cashback on fuel purchases, up to INR 250 per month.
• Monthly fuel surcharge waiver of up to INR 100.
• Option to convert purchases into EMIs.
• Facility for interest-free cash withdrawals from ATMs (with processing fee).
• Option to convert cash limit into a personal loan (Emergency Advance).
• Additional gift vouchers of INR 1,000 on annual spends of INR 1,00,000.

Other Details

• The card is marketed as offering "the power of four cards in one."
• 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 categories are not eligible for rewards on this card.
• Specific Merchant Category Codes (MCCs) for various categories like Fuel, Utility, Insurance, Quasi-Cash, Railways, Rental, Education, Wallet, Government Services, Contracted Services, Cash, Misc, Bills2Pay, and EMI are defined as per VISA & Mastercard guidelines.
• After applying for the credit card, the bank will send status alerts to the mobile number mentioned in your application form.
• You can apply for an RBL credit card online by visiting the bank's website and selecting 'Apply now'.
• The application for your credit card is typically processed within 3 weeks, and once approved, the credit card will be dispatched within 7 working days.
• The bank provides access to Most Important Terms and Conditions, Vernacular Most Important Terms and Conditions for Credit Cards, Cardmember Agreement, Vernacular Cardmember Agreement for Credit Cards, Schedule of Charges, and information on ways of making payment.