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

Introduction

The Utkarsh Rhodium Credit Card, issued by Utkarsh Small Finance Bank, is positioned as a premium lifestyle card designed to offer exclusive privileges and significant value to its users. It stands out with a generous 1.25% cashback on eligible transactions, complimentary lounge access at select airports, and a spend-based annual fee waiver, making it an attractive option for those seeking a rewarding credit card experience.

Welcome Benefits

• No Annual Fee for the first year.
• No Joining Fee.

Fees

• Joining Fee: No joining fee.
• Annual Fee:
  • No annual fee for the first year.
  • From the second year onwards, an annual fee of ₹4999 is applicable.
  • The annual fee is waived if annual spends of ₹5 lakhs or more are made during the previous year.
• Supplementary Card Annual Fees: No annual fee or joining fee.
• Interest Free Period: Up to 50 days.
• Finance Charge (APR): Up to 2% per month, equivalent to a 24% annual percentage rate. This rate applies to revolving credit, cash advances, overdue interest, and charges in case of default.
• Late Payment Fees: ₹500, in addition to the interest payable on the outstanding credit card amount.
• Cash Advance Fees: 5% of the cash advance amount or ₹500, whichever is higher.
• Foreign Currency Surcharge: 3% of the value of the foreign currency transaction after conversion to Indian Rupees.
• Overlimit Fees: ₹500.
• Card Replacement Fee: ₹500 (applicable in case of card loss or theft).
• Return Payment Charge: 2.5% of the value of the returned payment.
• Physical Statement Fee: ₹50 per statement.
• E-Statements: Free.
• Service Charge: NIL.
• Goods & Services Tax (GST): 18% on all fees/charges and interest.
• Alerts Facility (Email & Mobile): Free of cost.
• Set Limit Service: Free of cost.
• Online Bill Payment Facility: Free of cost.

Rewards

• Flat 1.25% cashback on all eligible transactions.
• Complimentary Lounge Access at select domestic airports, up to 4 times in a calendar quarter.
• 1% off on Fuel Surcharge, refunded for transactions between ₹400 to ₹5000.

Card Eligibility Criteria

• Existing Customer Requirement: Must be an existing customer holding an active Current Account, Savings Account, FD Account, or Loan Account with Utkarsh Small Finance Bank.
• Residency: Must be an Indian Resident.
• Age Limit:
  • Unsecured Credit Card: 21 to 65 years.
  • FD Backed Credit Card: 18 to 65 years.
• Application Process: Eligible customers will receive a pre-approved/pre-qualified Credit Card link on their personal registered email ID with the Bank.
• KYC: Customers must ensure their latest KYC details are updated with the Bank.
• Documents Required: No additional documents are required for pre-approved customers.

Important Product Details

• Card Activation: The card must be activated within 30 days of issuance to avoid closure as per RBI guidelines.
• Credit Limit: This is the maximum amount that can be spent on the Credit Card.
• Cash Withdrawal Limit: Up to 20% of the overall Credit Card credit limit, which can be used to withdraw cash from Utkarsh Bank ATMs or any other Bank's ATMs where Mastercard/RuPay usage is permitted.
• Spend Limit Management: Users can set and change their desired Credit Card spend limits through the Credit Card portal, with no cap on the number of changes.
• Statement Generation Cycle: Statements are generated for all card accounts on the 15th day of every month.
• Payment Due Date: The payment due date is the 5th day of every month.
• Minimum Amount Due Calculation: The Minimum Amount Due will be 5% of [retail spends + cash withdrawals] + 100% of [GST + EMI amount + Fees/Charges + Interest] + Overdue [MAD of the previous statement] + Overlimit amount.
• Payment Crediting: Payments made will be credited to the Credit Card account within 24 hours.
• Excess Payment Handling: If more than the total amount due is paid, the excess amount will appear in the monthly statement and be adjusted against future purchases and/or dues.
• Card Validity Expiry: Cardholders will receive an SMS and/or email 2 months prior to the expiry date about card renewal. In case of a change of address, the cardholder will be requested to update the address linked to their account.
• Credit Card against Fixed Deposit (FD):
  • This is a financial arrangement where a Credit Card is issued against an FD held with the bank.
  • Benefits: Potential to build or improve credit score, the FD continues to earn interest, and responsible usage positively impacts credit history.
  • Disadvantages: The FD ties up funds, and the security deposit can be used by the issuer to cover outstanding balances if payments are defaulted.
  • Lien: A lien will be marked on the customer's FDs to the extent of the Credit Card credit limit.
  • Credit Limit: Customers will receive 100% of the FD amount as their Credit Card limit.
  • Minimum FD Amount: The minimum FD amount required for an FD-backed Credit Card is ₹25,000.
  • Limit Increase: Generally, the limit of a Credit Card against FD does not increase after issuance.
  • Closure: To close an FD-backed Credit Card, all Credit Card dues must be fully paid off, a Credit Card closure request submitted, and the Credit Card account closed. The FD cannot be closed without closing the linked Credit Card.

Other Details

• Card Activation Steps:
  • Click on the URL: https://creditcards.utkarsh.bank.
  • Enter the email ID and password used for the Credit Card application. Use "Forgot Password" if needed.
  • Navigate to the Cards page and select your card using the last 4 digits.
  • Click the "Activate" button to initiate the pre-activation verification process.
  • Follow the on-screen process for Card Verification, Set Security PIN, and Customer Verification (OTP).
  • Set the transaction channels to complete the activation.
• Security Guidelines (Do's):
  • Create strong, unique passwords for online Credit Card transactions.
  • Memorize your Personal Identification Number (PIN) and change it regularly.
  • Activate your card via the Credit Card portal upon receipt.
  • Set limits on domestic transaction channels (ECOM/POS/ATM) after receiving your card.
  • Enable international channels only when required or while traveling abroad.
  • Regularly review Credit Card statements for any unauthorized transactions.
  • In case of loss/theft, fraudulent transaction, call customer care at 1800-309-3665 or send an email to creditcards@utkarsh.bank to hot-list your card.
• Security Guidelines (Don'ts):
  • 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 like birthdates or sequential numbers for your PINs or passwords.
  • Do not write down your PINs or passwords or store them in easily accessible places.
  • Beware of phishing – do not respond to emails, SMS, or calls asking for your card details or personal information.
  • Do not use your Credit Card on untrusted or unfamiliar websites.
  • Follow the bank’s specific security guidelines and contact them immediately if you suspect any unauthorized activity.
• Customer Support Contact:
  • Customer Care Number: 1800-309-3665
  • Email: creditcards@utkarsh.bank
• Card Delivery:
  • Customers will receive card dispatch status via SMS on their registered mobile number.
  • There will be 2 delivery attempts to the customer's address. If the customer is unavailable, the card will be returned to the origin (RTO), and an SMS notification will be sent.
  • For re-dispatch of an undelivered card, customers can call customer care or send an email.
  • Reissued/replaced cards are delivered within 2 weeks of the request.
• Card Blocking and Reissuance:
  • For re-issuance in case of lost/stolen cards, customers can contact customer care via phone or email.
  • Card blocking can also be done via the Credit Card portal, internet banking, or mobile banking.
  • A fee of ₹500 applies for card replacement due to loss or theft.
  • Charges for a replacement card will be debited to the Credit Card account.
• Dispute Resolution:
  • Customers should immediately contact customer service (1800-309-3655) or email to raise a dispute for a Credit Card transaction.
  • Customer care can be contacted to know the status of an initiated dispute or to withdraw a dispute.
  • Chargebacks for failed transactions should be raised within 120 days from the day of the failed transaction.
• Incorrect PIN/OTP Attempts: If 3 incorrect PIN/OTP attempts are made, the card will be temporarily blocked. The customer must reset the PIN via customer service or mobile/internet banking for the card to work again.
• Credit Card Account Closure: To close a Credit Card account, customers need to call the Customer Care number or email creditcards@utkarsh.bank.
• Transaction Confirmation: Customers will receive a charge-slip from the merchant and an SMS/Emailer on their registered contact details once a transaction is successful.
• Repayment Methods: Customers can pay Credit Card dues via NEFT mode or using other payment channels offered by the Bank.
• CIBIL Report: For CIBIL reports, customers should write to info@cibil.com. As a lending product, the Credit Card will reflect in the CIBIL report.
• Legal Documents: Important documents like the Most Important Terms and Conditions (MITC), Key Fact Statement (KFS), Card Member Agreement, and the Bank's Approved Credit Card Policy are available for download on the bank's website. The MITC is also sent with the welcome kit and emailed upon card issuance.