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

Utkarsh SmartGen Credit Card

Introduction

The Utkarsh Small Finance Bank SmartGen Credit Card is an entry-level offering designed to simplify everyday financial needs with straightforward features for smooth and effortless transactions. This card is available in both secured and unsecured variants, providing flexibility to users. It is a first-year free product, making it an accessible option for those embarking on their credit journey.

Welcome Benefits

• No Joining Fee.

Fees

• Joining Fee: No joining fee.
• Annual Fee:
  • No annual fee for the first year.
  • From the second year onwards: ₹199 + Taxes (GST).
• Spend-Based Waiver: The annual fee is waived if ₹50,000 is spent during the previous year or in an anniversary year.
• Rewards Redemption Fee: N/A
• Foreign Currency Markup: 3%.
• Interest Rates (Finance Charge [APR]):
  • Up to 3.6% per month (equivalent to 43.2% annual percentage rate) for unsecured credit cards.
  • 2.5% per month (equivalent to 30% annually) for credit cards backed by a Fixed Deposit.
  • This rate is applied for revolving credit, cash advances, overdue interest, and charges in case of default.
• Interest-Free Period: Up to 50 days.
• Late Payment Fees: ₹500 in addition to the interest payable on the outstanding credit card amount.
• Service Charge: NIL.
• Cash Withdrawal Limit: Up to 20% of the overall credit limit.
• Overlimit Fees: ₹500.
• Cash Advance Fees: 5% of the cash advance amount or ₹500, whichever is higher.
• Card Replacement Fee: ₹500.
• Goods & Services Tax (GST): 18% on all fees/charges and interest.
• Physical Statement Fee: ₹50 per statement.
• E-statements Fee: NIL.

Rewards

• Cashback:
  • Earn a flat 1% cashback on all eligible transactions.
  • Excluded Categories for Cashback: Wallet recharges, payments to financial institutions, government services, charities, foreign currency purchases, insurance, railways, mutual funds, education, transport, fuel, and utility payments.
• Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge refund on transactions between ₹400 and ₹5,000.
• Movies & Dining: Not applicable.
• Travel: Not applicable.
• Domestic Lounge Access: Not applicable.
• International Lounge Access: Not applicable.
• Golf: Not applicable.
• Insurance Benefits: Not applicable.

Rewards Redemption Guide

• The cashback accumulated will be adjusted against the cardholder's upcoming billing statement.

Card Eligibility Criteria

• Existing Customer Requirement: The card is exclusively for existing customers who hold an active account with Utkarsh Small Finance Bank. This includes customers with:
  • Current Account
  • Savings Account
  • FD Account
  • Loan Account
• Residency: Applicant must be an Indian Resident.
• Age Limit:
  • For Unsecured Credit Card: 21 to 65 years.
  • For FD Backed Credit Card: 18 to 65 years.

Card Review

The Utkarsh SmartGen Credit Card is an excellent entry-level offering, particularly well-suited for young professionals, students, or individuals who are new to credit and prefer a manageable spending limit. It boasts straightforward features, most notably a flat 1% cashback on eligible spends. The availability of both unsecured and Fixed Deposit-backed options, with a lower interest rate for the secured variant, enhances its appeal for credit building. While the card offers strong foundational benefits, it currently lacks advanced lifestyle perks like airport lounge access or accelerated reward programs, which might be a consideration for more experienced card users.

• Pros:
  • No joining fee, making it a first-year free product.
  • Available against a Fixed Deposit, which is beneficial for building or improving credit scores.
• Cons:
  • Does not offer airport lounge access, either domestic or international.
  • Lacks an accelerated rewards program for specific spending categories.
  • Limited lifestyle perks compared to other cards in higher tiers.

Important Product Details

• Earn a flat 1% cashback on all eligible transactions.
• The annual fee of ₹199 (plus GST) from the second year can be waived if you spend ₹50,000 or more in the preceding year.
• The card is available in both secured (Fixed Deposit-backed) and unsecured options.
• The secured credit card option offers a lower interest rate of 2.5% per month (30% annually), compared to the unsecured variant's 3.6% per month (43.2% annually).

Other Details

• How to Apply:
  • Eligible customers will receive a pre-approved/pre-qualified credit card link via their personal registered email ID.
  • It is essential for customers to ensure their latest KYC details are updated with the bank.
  • Existing customers can contact the bank for inquiries regarding the card.
• Documents Required: No additional documents are required for eligible customers.
• Card Activation & Green PIN Generation:
  • Credit Cards must be activated within 30 days of issuance to comply with RBI guidelines and avoid account closure.
  • Steps to activate your Credit Card and Generate Green PIN:
    • Visit the Credit Card portal: https://creditcards.utkarsh.bank
    • Enter the E-mail ID and password used during the credit card application. If the password is forgotten, use the "Forgot Password" option to reset it.
    • Navigate to the "Cards" page and select your specific card from the list, identifiable by its last 4 digits.
    • Click on the "Activate" button to begin the pre-activation verification process.
    • Follow the on-screen instructions, which typically include Card Verification, Setting a Security PIN, and Customer Verification via OTP.
    • Complete the activation by setting your preferred transaction channels (e.g., ECOM, POS, ATM).
    • Upon successful completion, your card will be activated, and you can enjoy its benefits.
  • Card activation and PIN generation can also be completed through internet banking or mobile banking.
• Card Security - Do's:
  • Create a strong and unique password for all your online credit card transactions.
  • Always memorize your Personal Identification Number (PIN) and change it regularly for enhanced security.
  • Upon receiving your card, ensure you activate it promptly via the Credit Card portal (https://creditcards.utkarsh.bank/).
  • Set appropriate limits on your domestic transaction channels (ECOM/POS/ATM) after activating your credit card.
  • For international transactions, enable international channels only when necessary or while you are traveling abroad.
  • Regularly review your credit card statements to identify and report any unauthorized transactions immediately.
  • In the event of a lost or stolen card, or any fraudulent transaction, immediately contact customer care at 1800-309-3665 or send an email to creditcards@utkarsh.bank to hot-list (block) your card.
• Card Security - Don'ts:
  • Never share your credit card number, PIN, or CVV with anyone, whether over the phone or online.
  • Do not permit anyone else to use your card or enter your PIN on your behalf.
  • Avoid using easily guessable information, such as birthdates or sequential numbers, for your PINs or passwords.
  • Do not write down your PINs or passwords, nor store them in easily accessible locations.
  • Be vigilant against phishing attempts; do not respond to emails, SMS, or calls that request your card details or personal information.
  • Refrain from using your credit card on untrusted or unfamiliar websites.
  • Always adhere to the bank’s specific security guidelines and report any suspected unauthorized activity on your credit card immediately.
• Customer Support & Communication:
  • General Customer Care: 1800 123 9878 or 1800 208 1788
  • Credit Card Support: 1800-309-3665
  • Secured Card Support: 1800-309-7986
  • Email for Credit Card inquiries: creditcards@utkarsh.bank
  • Email for general customer care: customercare@utkarsh.bank
  • Email for general communications: communications@utkarsh.bank
  • Email for SuperCard: supercard@utkarsh.bank
  • Email for Secured Credit Card: securedcc@utkarsh.bank
  • Online Grievance Redressal available at: https://www.utkarsh.bank.in/form-complaints/
  • E-mail and mobile alerts for transactions are provided free of cost.
  • The online bill payment facility offered by the bank is free of cost.
• Credit Card against Fixed Deposit (FD):
  • A "Credit Card against FD" is a financial product where a credit card is issued to an individual, secured by a Fixed Deposit held with the bank.
  • The FD acts as collateral, and a lien will be marked on the FD(s) to the extent of the credit card limit, though not necessarily on all FDs.
  • The Fixed Deposit continues to earn interest while it is held as collateral for the credit card.
  • Benefits: The primary benefit is the potential to build or improve your credit score through responsible usage and on-time payments. It allows your money to grow while you are simultaneously building credit.
  • Disadvantages: This deposit ties up your funds, making them unavailable for other uses. If you default on payments, the credit card issuer can utilize your security deposit to cover the outstanding balance.
  • Issuance Time: The card will be received within 2 weeks from the date of your consent for issuance against the FD. The lien on the FD will be marked upon receipt of consent.
  • Credit Limit: You will typically receive 100% of the FD amount as your credit card limit.
  • Minimum FD Amount: The minimum Fixed Deposit amount required for this card is ₹25,000.
  • Limit Increase: Generally, the credit limit does not increase; it is fixed based on the existing FD at the time of card issuance.
  • Cancellation: To cancel a Credit Card against FD, you need to contact customer care. They will verify the lien and any outstanding amounts, remove the lien, and set off any outstanding balance. After this, the card will be cancelled, and any remaining balance will be refunded to your account.
  • Closing FD: An FD can be closed before the credit card tenure ends, provided that all credit card dues are fully paid off, a credit card closure request is submitted, and the credit card account is officially closed. You cannot close the linked FD account without also closing the credit card.
  • The features and benefits of FD-linked credit cards are generally similar to those of non-FD linked credit cards.
• Card Management:
  • Credit Card Limit: This refers to the maximum amount that can be spent using the credit card.
  • Spend Limit Control: You can set and modify the desired credit card spend limits (for domestic and international channels) through the Credit Card portal. There is no cap on the number of times you can change these limits.
  • Card Validity Expiry: Cardholders will receive an SMS and/or email notification two months prior to the card's expiry date concerning renewal. If there's an address change, customers will be requested to update it with the bank.
  • Cash Withdrawal Limit: A certain percentage of the overall credit limit is available for cash withdrawals from ATMs that accept Mastercard/RuPay.
  • Card Dispatch Status: Updates on the card's dispatch status will be sent via SMS to your registered mobile number.
  • Card Delivery: The bank will make two attempts to deliver the card to the customer's registered address. If the customer is unavailable after two attempts, the card will be returned to the origin (RTO), and the customer will be notified via SMS about the non-delivery.
  • Re-dispatch: If a card is undelivered and returned to the origin, customers can request re-dispatch by calling customer care at 1800 309 3665 or emailing creditcards@utkarsh.bank.
  • Re-issuance (Lost/Stolen Cards): For re-issuance due to lost or stolen cards, contact customer care. A replacement card will typically be delivered to the customer's address within two weeks of the request.
  • Payment Crediting Time: Payments made towards your credit card account will be credited within 24 hours.
  • Overpayment: Any amount paid exceeding the total due will be reflected in the monthly statement and adjusted against future purchases or dues.
  • Statement Generation Cycle: Credit card statements are generated on the 15th day of every month, with the payment due date falling on the 5th day of the subsequent month.
  • CIBIL Report: Since a credit card is a lending product, it will be reflected in your CIBIL report. For inquiries about your CIBIL report, you can write to info@cibil.com.
  • Card Not Working: If your credit card is not functioning, first ensure that POS/ECOM and other necessary features are enabled via the Credit Card portal. If the issue persists, contact Customer Care at 1800 309 3665 or email creditcards@utkarsh.bank.
  • Dispute Resolution:
    • Raising a Dispute: To dispute a credit card transaction, immediately contact customer service at 1800 309 3655 or email creditcards@utkarsh.bank.
    • Dispute Status: To inquire about the status of an initiated dispute, call Customer Care at 1800 309 3665 or email creditcards@utkarsh.bank.
    • Withdrawing a Dispute: You can withdraw a raised dispute by contacting customer care at 1800 309 3665 or emailing creditcards@utkarsh.bank.
    • Chargeback TAT: Customers should raise a chargeback request for failed transactions within 120 days from the date of the failed transaction.
  • Fraud Reporting & Blocking: In the event of fraud, report it by calling customer service at 1800 309 3665 or emailing creditcards@utkarsh.bank. Card blocking can also be performed by the customer through the Credit Card portal (creditcards.utkarsh.bank), internet banking, or mobile banking.
  • Blocked Card (Incorrect PIN/OTP): If three incorrect PIN/OTP attempts are made, the card will be temporarily blocked. The customer must then reset the PIN (either through customer service or Mobile/Internet Banking after successful authentication) for the card to become active again.
  • Transaction Confirmation: Upon a successful transaction, the customer will receive a charge-slip from the merchant and an SMS/Emailer notification on their registered contact details.
  • Credit Card Account Closure: To close your credit card account, you need to call the Customer Care number (1800 309 3665) or send an email to creditcards@utkarsh.bank.
  • Minimum Amount Due (MAD) Calculation: The Minimum Amount Due 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.
  • Card Repayment Methods: Customers can pay their credit card dues via NEFT mode or through other payment channels provided by the bank.