BOBCARD Premier Credit Card
The Bank of Baroda Premier Credit Card, issued by BoB Financial, comes with several benefits and is currently available as a lifetime free card for a limited time. You usually need to pay ₹1,000 as a joining and yearly fee for this card. You can get up to 10 reward points for every ₹100 you spend on dining, travel, and international shopping. For all other purchases, you’ll earn 2 points for every ₹100 spent. These points can be used for rewards like cash credit. The card also gives free access to select airport lounges in India.
Apart from travel perks, the card offers a fuel surcharge waiver and personal accident insurance. It can also be linked to UPI apps like Google Pay and PhonePe for easy payments. With 5X reward points on travel, dining, and international spending, this card is a great choice for frequent travelers. The extra rewards and free lounge access make it valuable, especially for those who travel often. It also comes with a good reward rate and lifestyle benefits.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Before applying for a credit card in India, consider the following factors:
- Eligibility Criteria: Check the age, income, credit score, and employment status requirements set by the bank or financial institution.
- Credit Score: A higher credit score increases your chances of approval and may result in better offers. Ensure your credit score is in good standing.
- Interest Rates and Fees: Compare annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction fees. These can vary significantly between cards.
- Rewards and Benefits: Look for cards that offer rewards, cashback, discounts, or other perks that align with your spending habits.
- Credit Limit: Make sure the credit limit offered is in line with your financial needs. Avoid over-borrowing, which can lead to high-interest charges.
- Repayment Terms: Understand the repayment options, minimum payment amount, and due dates. Consider how easily you can manage timely payments to avoid interest accumulation.
- Card Type and Features: Choose a card type (e.g., standard, premium, travel, etc.) based on your requirements. Some cards offer more benefits for specific categories like travel, shopping, or dining.
- Bank’s Reputation: Opt for a bank with a good track record of customer service and transparency. Read reviews and consider their customer support accessibility.
- Hidden Charges: Be aware of any hidden fees, such as annual fees, balance transfer charges, and cash withdrawal fees.
- Credit Utilization: Ensure you can manage your spending within the credit limit to maintain a healthy credit utilization ratio, which impacts your credit score.
- Long-Term Financial Plans: Think about how the credit card will fit into your long-term financial goals and avoid accumulating unnecessary debt.
Can I earn reward points on international spending?
Yes, you will earn 5X reward points for every ₹100 you spend on international purchases. This means if you use your card for shopping, travel, or any other expenses abroad, you will get five times more reward points compared to regular spending.
Who can get the joining/annual fee waived?
The fee waiver is only available to cardholders with a good payment history. If you miss payments or default on your credit card bill, you may not be eligible for this benefit.
Can I carry forward my balance instead of paying in full?
Yes, with this card, you can pay just the minimum amount now and carry the rest of the bill to the next month. However, interest charges will apply until you clear the full amount.
How do I apply for this credit card through SMS?
To apply, simply type ‘Apply’ and send it to 9223990624. You will get a response from the bank with further steps.
Do I need to pay extra for add-on credit cards?
No, you can get supplementary credit cards for family members at no extra cost. These add-on cards come with the same benefits as the main card.
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