Utkarsh Small Finance Bank Rhodium Credit Card – Benefits, Fees & Eligibility

Utkarsh Rhodium Credit Card

Introduction

The Utkarsh Rhodium Credit Card from Utkarsh Small Finance Bank is designed as a premium offering, providing cardholders with exclusive lifestyle privileges and cashback rewards. This card offers a consistent cashback rate on all eligible transactions and includes complimentary access to domestic airport lounges. It comes with no joining fee and is free for the first year, with a renewal fee that can be waived based on annual spending.

Welcome Benefits

• The card is "First-Year Free" regarding its annual fee.
• No other specific welcome benefits are explicitly mentioned.

Fees

• Joining Fee: No joining fee is charged for this card.
• Annual Fee:
  • Free for the first year.
  • From the second year onwards, the annual fee is ₹4,999 + GST.
• Spend-Based Waiver: The renewal fee of ₹4,999 (plus GST) is waived if the cardholder makes annual spends of ₹5 lakhs or more in the preceding year.
• Rewards Redemption Fee: No rewards redemption fee is applicable.
• Foreign Currency Markup: A foreign currency markup of 3% is charged on international transactions.
• Interest Rates: Interest rates can go up to 2% per month (equivalent to 24% annually). The actual interest rates may vary based on the credit card issuer and the individual's creditworthiness.
• Interest-Free Period: An interest-free period of up to 50 days is available.
• Fuel Surcharge: A 1% fuel surcharge waiver is provided for transactions between ₹400 and ₹5,000.
• Cash Advance Charges: A fee of 5% of the cash advance amount or ₹500, whichever is higher, is levied for any cash advance transaction.
• Late Payment Fee: A late payment fee of ₹500 is charged, in addition to the interest payable on the outstanding credit card amount.
• Card Replacement Fee: A fee of ₹500 is charged for card replacement, particularly in cases of loss or theft.
• Statement Charges: E-statements sent via email are free of cost. For a physical statement, a charge of ₹50 per statement applies.
• Alerts Facility: Email and mobile alerts for transactions are provided free of cost.
• Online Bill Payment Facility: The facility for online bill payment is free of cost.

Rewards

• Cashback: Cardholders earn a flat 1.25% cashback on all eligible transactions.
• Domestic Lounge Access: Complimentary access to select domestic airport lounges is provided up to 4 times per calendar quarter, totaling 16 visits annually. There are no spend-based criteria required to avail this benefit.
• Transactions Ineligible for Cashback: The following categories do not earn cashback:
  • Wallet recharges
  • Transactions with Financial Institutions
  • Government services
  • Charities
  • Foreign Currency Purchase
  • Insurance payments
  • Railway transactions
  • Mutual Funds investments
  • Education-related payments
  • Transport services
  • Fuel purchases (though a surcharge waiver is available)
  • Utility Payments (such as Electricity, Telephone, Internet, Water, etc.)
• Accelerated Rewards Program: The card does not offer any special categories for accelerated cashback or rewards; the cashback rate is unified.
• No specific benefits for Movies, Dining, International Lounge Access, Golf, or Insurance are mentioned as direct card perks.

Rewards Redemption Guide

• The cashback earned on eligible transactions can be directly credited against the upcoming billing statement. No other redemption options are specified.

Card Eligibility Criteria

• Existing Customer Status: The card is available to existing customers of Utkarsh Small Finance Bank who maintain an active Current Account, Savings Account, Fixed Deposit (FD) Account, or Loan Account.
• Residency: Applicants must be Indian Residents.
• Age Limit:
  • For Unsecured Credit Cards: The age limit is between 21 and 65 years.
  • For FD Backed Credit Cards: The age limit is between 18 and 65 years.
• Documents Required: For eligible existing account holders, no additional documents are required for the application process, provided their latest KYC details are updated with the Bank.

Card Review

The Utkarsh Rhodium Credit Card stands as a premium offering from Utkarsh Small Finance Bank, notably being free for the first year. Its core advantages include a straightforward 1.25% cashback on eligible spends and a generous allowance of up to 16 complimentary domestic airport lounge visits annually, without any specific spend conditions for access. However, the card's substantial renewal fee of ₹4,999 plus GST from the second year onwards is a point of consideration, even with a waiver option for annual spends of ₹5 lakhs. The card's benefits are somewhat limited in scope, lacking international lounge access, accelerated reward programs, or dedicated perks for categories like dining, golf, or general travel beyond domestic lounges. While it's a solid choice for existing Utkarsh Bank customers seeking a simple cashback structure and frequent domestic travel benefits, individuals looking for a broader range of premium lifestyle privileges might find other cards in the market more appealing.

Important Product Details

• The Utkarsh Rhodium Credit Card is offered with no joining fee.
• It provides a flat 1.25% cashback on all eligible transactions.
• Cardholders receive complimentary domestic lounge access up to 4 times per quarter, totaling 16 visits annually, without requiring a minimum spend.
• The annual fee of ₹4,999 + GST from the second year is waived if annual spending reaches ₹5 lakhs or more.
• The card is available on both Mastercard and RuPay network variants.
• There are no additional charges for obtaining an add-on credit card.
• The card does not feature international airport lounge access, an accelerated rewards program, or specific lifestyle benefits for dining, golf, or insurance.

Other Details

• How to Apply:
  • Eligible customers will receive a pre-approved/pre-qualified credit card application link via their registered email ID with the Bank.
  • It is essential for customers to ensure their latest KYC details are updated with the Bank.
• Card Activation & Green PIN Generation:
  • It is mandatory to activate the Utkarsh Small Finance Bank Credit Card within 30 days of issuance to prevent its closure as per RBI guidelines.
  • Steps for Activation and Green PIN Generation:
    1. Visit the official Credit Card portal at https://creditcards.utkarsh.bank.
    2. Enter the email ID and password used during the credit card application. If the password is forgotten, use the "Forgot Password" option to reset it.
    3. Navigate to the Cards page and select your specific card from the list, identifying it by the last 4 digits of the card number.
    4. Click on the "Activate" button to begin the pre-activation verification process.
    5. Follow the on-screen instructions which typically include Card Verification, setting a Security PIN, and Customer Verification (via OTP).
    6. Set the desired transaction channels (e.g., ECOM, POS, ATM) to complete the activation.
    7. Upon successful completion, the card is activated, and you can enjoy its benefits.
• Card Security and Management:
  • Always create a strong and unique password for online credit card transactions.
  • Memorize your Personal Identification Number (PIN) and change it regularly.
  • Set limits for your domestic transaction channels (ECOM/POS/ATM) after receiving your credit card.
  • For international transactions, enable international channels only when necessary or while traveling abroad.
  • Regularly review credit card statements to identify any unauthorized transactions promptly.
  • Never share your credit card number, PIN, or CVV with anyone over the phone or online.
  • Do not allow anyone else to use your card or enter your PIN for you.
  • Avoid using easily guessable information, such as birthdates or sequential numbers, for your PINs or passwords.
  • Do not write down your PINs or passwords or store them in easily accessible locations.
  • Be vigilant against phishing attempts; do not respond to emails, SMS, or calls requesting your card details or personal information.
  • Avoid using your credit card on untrusted or unfamiliar websites.
  • If three incorrect PIN/OTP attempts are made, the card will be temporarily blocked. The cardholder must reset the PIN via customer service or Mobile/Internet Banking after successful authentication to reactivate it.
  • Cardholders can set and change their desired credit card spend limits through the Credit Card portal, with no cap on how many times these limits can be modified.
• Reporting & Disputes:
  • In case of loss or theft of the card, or detection of fraudulent transactions, immediately call customer care at 1800-309-3665 or send an email to creditcards@utkarsh.bank to hot-list (block) the card. Card blocking can also be done by the customer through the credit card portal, internet banking, or mobile banking.
  • To raise a dispute regarding a credit card transaction, the customer should immediately contact customer service at 1800-309-3665 or email creditcards@utkarsh.bank. The status of an initiated dispute can also be checked through these channels.
  • A dispute raised on a credit card can be withdrawn by contacting customer care via phone or email.
  • For failed transactions, a chargeback can be raised within 120 days from the date of the failed transaction.
• Account Management & Statements:
  • The credit card limit represents the maximum amount that can be spent on the card.
  • The cash withdrawal limit is a certain percentage of the overall credit card credit limit.
  • The account number linked to the customer's bank account is different from the credit card number.
  • Credit card statements are generated on the 15th day of every month, and the payment due date is the 5th day of the following month.
  • Payments made to the credit card account will be credited within 24 hours.
  • If an amount greater than the total due is paid, the excess will appear in the monthly statement and be adjusted against future purchases or dues.
  • The Minimum Amount Due (MAD) is calculated as: 5% of [retail spends + cash withdrawals] + 100% of [GST + EMI amount + Fees/Charges + Interest] + Overdue [MAD of the previous statement] + Overlimit amount.
  • For re-issuance of cards whose validity has expired, the cardholder will receive an SMS and/or email notification two months prior to the expiry date. Customers are requested to update any change of address linked to their account.
  • Card delivery typically involves two attempts to the customer's registered address. If the customer is unavailable after two attempts, the card will be returned to the origin. Re-dispatch can be requested by calling customer care or sending an email.
  • To close a credit card account, customers need to contact customer care at 1800-309-3665 or email creditcards@utkarsh.bank.
• Credit Card Against FD (Fixed Deposit):
  • A "Credit Card against FD" is a financial arrangement where a credit card is issued to an individual using their Fixed Deposit with the bank as collateral.
  • Benefits: A primary benefit is the potential to build or improve one's credit score. The FD continues to earn interest while serving as collateral. Responsible usage and on-time payments can positively impact credit history.
  • Disadvantages: The deposit ties up funds, making them unavailable for other uses. If the cardholder defaults on payments, the credit card issuer can use the security deposit to cover the outstanding balance.
  • The minimum FD amount required for a credit card against FD is ₹25,000.
  • The credit limit provided is typically 100% of the FD amount and generally does not increase.
  • A lien will be marked on the customer's FDs to the extent of the credit card's credit limit (not necessarily on all FDs).
  • Such a card is usually received within two weeks of providing consent for its issuance against the FD.
  • An FD-backed credit card can be cancelled if all credit card dues are fully paid, a credit card closure request is submitted, and the credit card account is closed. It is not possible to close the fixed deposit account without simultaneously closing the linked credit card.
  • The features of an FD-backed credit card are similar to those of a non-FD linked credit card.
• CIBIL Report:
  • As a lending product, a credit card will be reflected in the CIBIL report.
  • For CIBIL reports, individuals should write to info@cibil.com.
• Card Network: The Utkarsh Rhodium Credit Card is available in both Mastercard and RuPay network variants.
• Customer Support: For inquiries, assistance, or reporting issues, customers can contact customer care at 1800-309-3665 or email creditcards@utkarsh.bank.