IRCTC BOBCARD Credit Card
Gaurav
BOBCARD LIMITED, in partnership with IRCTC, has launched the IRCTC BOBCARD Credit Card for people who often travel by train. This card offers great benefits for BOB customers, making it ideal for those who regularly use Indian Railways. With a joining fee of just Rs. 500, the card is designed to offer rewards on travel and everyday expenses.
The IRCTC BOBCARD Credit Card comes with rewards on groceries, fuel, and more. It also lets you convert purchases into easy EMIs. This card helps you save money and enjoy convenience on your daily purchases, especially if you travel by train often. Keep reading to learn more about its features and benefits.
Rewards and Benefits
Rewards Rate
Earn 4 Reward Points for every Rs. 100 spent on groceries and departmental stores, and 2 Reward Points on other purchases. Additionally, get up to 40 Reward Points for every Rs. 100 spent on railway tickets booked through IRCTC.
Reward Redemption
You can redeem the earned Reward Points (RP) for ticket bookings on the IRCTC website or mobile app. Additionally, you can use the points to offset your card’s statement balance, with 1 RP equal to Rs. 0.25.
Movie & Dining
N/A
Travel
Enjoy complimentary access to partner railway lounges.
Golf
N/A
Domestic Lounge Access
Get 4 complimentary railway lounge accesses annually, with 1 access available every quarter.
International Lounge Access
N/A
Insurance Benefits
Get insurance coverage for your lost or stolen card.
Fees & Charges
Interest Rates
3.49% per month (or 41.88% yearly)
Spend-Based Waiver
N/A
Rewards Redemption Fee
Nil
Cash Advance Charges
2.5% of the amount withdrawn or Rs. 500
Foreign Currency Markup
3.50% +GST
Fuel Surcharge
1% waiver at all fuel stations in India
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.
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