Slice Super Card – Benefits, Fees & Eligibility

Introduction

The Slice Super Card is a Buy Now Pay Later (BNPL) card offered by the fintech startup Slice, in collaboration with Visa and SBM Bank. This card allows users the flexibility to split their monthly expenditures into three equal installments, payable over a period of three months, without incurring any additional charges. Notably, the Slice Super Card is a lifetime free product, meaning it carries no joining or renewal fees. While it earns reward points, referred to as "monies," which are redeemable for cashback, it primarily serves as an entry-level BNPL card. As such, it does not typically offer premium privileges like airport lounge access or comprehensive insurance benefits, which are often associated with traditional mid-range or premium credit cards.

Fees

• Joining Fee: Nil
• Renewal Fee: Nil
• Spend-Based Waiver: Not applicable
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: International transactions are not allowed with this card.
• Interest Rates: No interest rates are applicable on the Slice Super Card. It functions as a pay-later card rather than a traditional credit card for interest charges.
• Fuel Surcharge: A fuel surcharge of 2% of the transaction amount (with a minimum charge of Rs. 10) is applicable on fuel purchases. This surcharge is waived off for fuel purchases worth less than or equal to Rs. 4,000, with a maximum waiver capped at Rs. 200 per month.
• Cash Advance Charges: Cash withdrawals are not allowed with this card.

Rewards

• Rewards Rate:
  • Cardholders earn Reward Points known as "monies."
  • Earn 1 monies for every Re. 1 spent with the Slice Super Card.
  • Users can earn up to 2% cashback as monies.
  • Monies are effectively earned only if the full payment is made with the Slice Card without splitting it into installments. Rewards earned on transactions that are split into monthly installments are reversed at the end of the month.
• Movie & Dining: Not applicable
• Travel: Not applicable
• Domestic Lounge Access: Not applicable
• International Lounge Access: Not applicable
• Golf: Not applicable
• Insurance Benefits: Not applicable
• Lifestyle & Shopping:
  • Access to exciting discount offers and deals across several popular merchants, including Zomato, Swiggy, Big Basket, and Netflix.
  • Benefit from exciting offers every week at partner merchants through "Slice Spark."

Rewards Redemption Guide

• The "monies" earned on the Slice Super Card are redeemable for cashback.
• The redemption value of the monies is dynamic and depends on the total accumulated number of monies in the cardholder's account at the time of redemption.
• The conversion rate into cashback is as follows:
  • 0 to 2,99,999 monies: 1% cashback conversion rate.
  • 3,00,000 to 4,99,999 monies: 1.5% cashback conversion rate.
  • 5,00,000 or more monies: 2% cashback conversion rate.
• The monetary value of 1 monies ranges between 1 paisa and 2 paise, contingent on the total monies in the account.
• It's important to note that while monies are initially credited for transactions, those earned against purchases that are later split into monthly installments are reversed at the end of the payment cycle. Therefore, cashback rewards are effectively earned only when the full payment is made without opting for the installment feature.

Card Eligibility Criteria

• Eligibility Rules:
  • The applicant must be above 18 years of age.
  • The applicant should have a stable monthly income.
  • There is no requirement for a pre-existing credit score or credit history.
• Documents Required:
  • Mobile number
  • ID proof (e.g., Voter Card, PAN Card, Aadhar Card)
  • Address proof (e.g., Voter Card, Aadhar Card, Telephone Bill, Electricity Bill)
  • Proof of income (e.g., income tax acknowledgment, salary slip)

Card Review

• Overall Verdict: The Slice Super Card is a suitable choice for individuals, particularly students or those new to credit, who are looking for a Buy Now Pay Later (BNPL) solution and an opportunity to build their credit history. Its primary appeal lies in the flexibility of interest-free installment payments rather than high reward accumulation, especially since rewards are not earned on split transactions.
• Who Should Apply:
  • Individuals seeking a BNPL card to manage monthly expenses by splitting them into interest-free installments.
  • Those who are new to credit or have a low/bad credit score and wish to establish or improve their credit profile.
  • Users prioritizing payment flexibility and no-cost EMIs over extensive reward programs or premium benefits.
• Pros:
  • Lifetime free card with zero joining and annual fees.
  • Does not require a credit score for application, making it accessible to a wider audience.
  • Allows users to split monthly expenditures into three equal, interest-free installments.
  • No interest rates are charged on the card.
  • Widely accepted by 99.95% of merchants across India that accept Visa cards.
  • Provides an opportunity to build a good credit score through timely payments.
• Cons:
  • Reward rate (up to 2% cashback) is potentially less competitive compared to some entry-level traditional credit cards.
  • Rewards are not earned on transactions that are split into monthly installments.
  • Lacks premium features such as airport lounge access, golf privileges, or comprehensive insurance benefits.
  • Does not support international transactions or cash withdrawals.

Important Product Details

• It is a lifetime free pay-later card, incurring no joining or renewal charges.
• Offers the flexibility to split monthly spends into three equal installments without any extra cost.
• Allows cardholders to earn up to 2% cashback as "monies" on eligible transactions (excluding those split into installments).
• No credit score is required for the application process, enhancing accessibility.
• Provides access to exciting offers weekly at partner merchants through Slice Spark.
• Accepted by virtually all merchants (99.95%) across India that support Visa credit/debit cards.
• Includes a feature to split bills with friends by adding notes or tags.
• Operates with no applicable interest rates.
• International transactions are not permitted.
• Cash withdrawals are not permitted.
• Technically functions as a personal loan with a flexible monthly line of credit, similar to a credit card.

Other Details

• Card Issuer: Slice, a fintech startup, in partnership with Visa and SBM Bank.
• How to Apply for Slice Super Card Online:
  • Download the Slice mobile app directly from the App Store or Play Store.
  • Alternatively, visit the official Slice website, click on the "Apply Now" option, scan the provided QR code with a mobile device, and download the app.
  • Complete the digital application form within the app.
• Credit Limit: The credit limit for a Slice Super Card is variable among cardholders and can extend up to Rs. 10 lakhs for some individuals.
• How to Increase Slice Card Limit:
  • Users can request a limit increase by contacting the card issuer via call or email.
  • The card issuer may also proactively increase the credit limit for cardholders who demonstrate a good credit score over time through timely payments.
• Customer Care Number: +91 80470 96430
• Slice Super Card vs Uni Card:
  • Slice Super Card:
    • Cardholders can split their monthly spending into three equal installments, payable over the next three months, with no extra charges.
    • Can earn up to 2% cashback on spends, though cashback is not earned when the bill is split into installments.
    • Features no interest rate and no late fee.
  • Uni Card:
    • Cardholders can pay a portion of the bill and split the remaining amount into three equal installments.
    • Does not offer rewards for regular spends, but provides a 1% cashback on paying the full bill.
    • Does not charge interest, but a late fee is applied for delayed payments.