BOBCARD Select Credit Card
The Bank of Baroda Select Credit Card is a good option for earning rewards on daily spending. It usually has an annual fee of ₹750 plus taxes, but you can get it waived by spending ₹7,500 within the first 60 days.
You get 1 reward point for every ₹100 you spend. For dining and online shopping, you earn 5 points for every ₹100. Plus, the card removes extra charges on fuel, so you save money at petrol pumps. It’s a great choice for beginners or anyone looking to save on regular expenses. Plus, you can get add-on cards for family members. If you prefer a lifetime-free option, you might also consider the IDFC First Select Credit Card.
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 get add-on credit cards with the BoB Select Credit Card?
Yes, you can request up to 3 additional cards for your spouse, parents, siblings, or children above 18.
Does the BoB Select Credit Card include airport lounge access?
No, this card does not provide access to airport lounges but offers various shopping and lifestyle perks.
How can I apply for the BoB Select Credit Card?
You can apply online through the Bank of Baroda website or visit a nearby branch with the necessary documents.
Is this credit card lifetime free?
No, it comes with an annual fee of ₹750, which may be waived based on spending conditions.
What are the cash withdrawal charges?
A fee of 2.5% of the amount withdrawn (minimum ₹300) is applicable.
What should I do if my card is lost or stolen?
Inform the bank immediately to avoid liability for unauthorized transactions.
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