Snapdeal Bank of Baroda Credit Card
The Snapdeal Bank of Baroda Credit Card is a special shopping card launched by BOBCARD Limited and Snapdeal. It is mainly made for people who love shopping online, especially on Snapdeal. The card gives 5% rewards on Snapdeal purchases and also offers good rewards on other things like groceries and online spending. With a low joining and annual fee of just Rs. 249, it is a very affordable option. You can also get up to three extra cards for your family without paying anything extra. Whether you are salaried or self-employed, you can apply for this card and enjoy easy shopping benefits.
The rewards you earn with this card are simple to use because they are directly adjusted against your card bill. Although it does not offer many benefits for travel or dining, it is still a great choice if you mainly want to save money on shopping. Along with popular cards like the Flipkart Axis Bank Card and Amazon Pay ICICI Card, the Snapdeal Bank of Baroda Credit Card is now another good option for online shoppers. If you use it smartly, you can easily save a lot throughout the year.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Key Considerations Before Applying for a Credit Card in India:
- Eligibility Criteria: Ensure you meet the eligibility requirements, which typically include age, income, credit score, and employment status as defined by the issuing bank or financial institution.
- Credit Score: A strong credit score can significantly improve your chances of approval and result in more favorable terms, such as lower interest rates or higher credit limits. Verify that your credit score is healthy before applying.
- Interest Rates and Fees: Compare the annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction charges associated with various cards. These costs can vary widely and impact the overall value of the card.
- Rewards and Benefits: Evaluate the rewards, cashback, discounts, or other perks offered by the card to ensure they align with your spending patterns. Some cards may provide better benefits in specific categories, such as travel, shopping, or dining.
- Credit Limit: Review the credit limit offered by the card to ensure it meets your financial needs. Avoid applying for cards with excessive limits if you are concerned about managing debt, as this can lead to higher interest charges.
- Repayment Terms: Understand the repayment structure, including the minimum payment amount, payment due dates, and any associated penalties. Being clear about these terms can help you manage payments effectively and avoid interest buildup.
- Card Type and Features: Choose a card type that matches your specific needs—whether standard, premium, or specialized cards like those offering travel rewards or dining privileges. Ensure the features of the card align with your lifestyle and spending habits.
- Bank’s Reputation: Opt for a financial institution with a proven reputation for customer service and transparency. Consider researching customer reviews and assessing their support channels to ensure reliable service.
- Hidden Charges: Be aware of any hidden fees, including annual fees, balance transfer charges, foreign transaction fees, or cash withdrawal charges. These can add up over time and affect the overall cost-effectiveness of the card.
- Credit Utilization: Maintain a balance within your credit limit to avoid high credit utilization ratios, which can negatively impact your credit score. Responsible use of credit is essential for maintaining financial health.
- Long-Term Financial Plans: Consider how the credit card fits into your overall financial strategy. Avoid accumulating unnecessary debt and choose a card that supports your long-term financial goals without adding financial strain.
How can I redeem reward points earned on the Snapdeal Bank of Baroda Credit Card?
Reward points can be redeemed via vouchers or by converting them into cashback, which will be automatically credited to your card's monthly statement.
What reward rate is offered for purchases outside Snapdeal's website/app?
For purchases like groceries, departmental stores, and online shopping, you earn 2.5% rewards. For other retail spending, you earn 4 reward points for every Rs. 100 spent.
Can I use the Snapdeal Bank of Baroda Credit Card for peer-to-peer payments?
No, the Snapdeal Bank of Baroda Credit Card cannot be used for peer-to-peer (P2P) payments, as this feature is not available for credit cards in general.
Is the Snapdeal Bank of Baroda Credit Card free for life?
No, the Snapdeal Bank of Baroda Credit Card is not free for life. It has an annual fee of Rs. 249.
How can I apply for the Snapdeal Bank of Baroda Credit Card?
You can apply online by completing the form and the video KYC process. Alternatively, you can apply offline at your nearest Bank of Baroda branch.
Is the EMI option for purchases above Rs. 2,500 only available on Snapdeal?
The EMI option is available for any purchase over Rs. 2,500, not just on Snapdeal, and can be spread across 6 to 36 months.
Is the Snapdeal Bank of Baroda Credit Card a travel-focused card?
The Snapdeal Bank of Baroda Credit Card is a shopping card. While it offers a fuel surcharge waiver, it does not provide travel-related rewards like air miles or discounts on bookings.
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