Most credit cards provide reward points for various transactions in eligible categories. These reward points can be used for multiple purposes, such as paying for transactions, buying vouchers, redeeming them for travel bookings, transferring them to airline/hotel partners, or making a donation, etc. For each of these purposes, the redemption value per point may differ.
While these redemption options give a wide choice for using reward points, it can be overwhelming to decide where to redeem them. Hence, some people prefer a simple solution of cashback rather than getting into the complex maze of reward points. The BOBCARD Cashback Credit Card is one such card that rewards cardholders with cashback.
Benefits
The BOBCARD Cashback Credit Card provides the following benefits:
1. 5% cashback on domestic online spends: The card offers 5% cashback on all eligible domestic online spends. The cashback is split into a 1% base cashback and 4% accelerated cashback. The 4% accelerated cashback is capped at Rs. 1,500 per statement cycle. The cardholder must complete a minimum of 4 transactions within a statement cycle to be eligible for accelerated cashback.
2. 1% cashback on other spends: The card offers 1% cashback on eligible domestic offline transactions and international transactions. The cashback will be posted automatically and reflected in the next month’s billing statement. So, the cardholder doesn’t need to track the cashback or redeem it. The automated process removes these hassles, providing convenience to the customer.
Transactions in the following categories are not eligible for cashback:
- Fuel
- Agriculture
- Contractor
- Transportation
- Telecom
- Rent
- Cleaning and maintenance, laundry, and personal services
- Government
- Education
- Hospital
- Wallet
- Supermarket and convenience store, variety stores, retail store
- Insurance
- Charity
- Fast food restaurants
For more details on the above categories and the MCC codes, please refer to the Bobcard website.
Transactions below Rs. 100 will not earn any cashback.
3. Fuel surcharge waiver: The 1% fuel surcharge is waived at all fuel stations across India on transactions between Rs. 400 and Rs. 5,000. The maximum waiver is Rs. 250 per statement cycle.
EMI conversion option: The cardholder has the option to convert transactions of above Rs. 2,500 into Smart EMIs with a tenure of 6 to 48 months.
Add-on cards: The primary cardholder can request up to 3 add-on cards. The add-on cards are lifetime free and can be requested for spouse, parents, kids, or siblings. The age of the add-on cardholder must be above 18 years.
Fees: The joining and the annual renewal fee for the card is Rs. 49 per month or Rs. 499 per annum. The cardholder will be allowed to change the fee plan only once during the entire lifecycle.
Eligibility criteria and application
- Applicant must be an Indian Resident.
- If the applicant is salaried, the minimum net annual income must be Rs. 3 lakhs and above, and between 21 to 60 years of age. If you are salaried, at the time of application, you must submit a copy of the bank statement reflecting the salary credit for the last 2 months.
If the applicant is self-employed, the minimum net annual income must be Rs. 3.6 lakhs, and between 24 to 65 years of age. If you are self-employed, at the time of application, you must submit a copy of your bank statement that reflects business transactions for the last 3 months.
While applying, you must submit a recently taken passport-size photograph, PAN card, address proof, and income proof as mentioned above.
Should you take this credit card?
According to the BOBCARD Limited press release: “One of the central propositions of the card is its ‘Happy Returns’ concept. It is positioned to ensure that customers receive meaningful savings not as occasional bonuses, but as a consistent component of their everyday spending. The cashback structure applies to a wide range of essential and lifestyle spending categories. These include online marketplaces, supermarkets, kirana stores, restaurants, fuel stations, cab rides, metro and bus payments, utility bills, pharmacies, OTT platforms, education fees, and retail purchases. This broad applicability ensures that customers accumulate cashback naturally across routine transactions, making the card key benefit both practical and impactful.”
A 5% cashback on eligible online transactions is a good reward rate. However, the accelerated cashback is capped at Rs. 1,500 per statement cycle. In comparison, the Cashback SBI Card offers 5% cashback on eligible online transactions and 1% cashback on eligible offline transactions, capped at Rs. 5,000 per statement cycle.
Thus, an individual can earn a much higher cashback on the Cashback SBI Card in a monthly statement cycle. Hence, an individual may give their first preference to the Cashback SBI Card. If not able to get the Cashback SBI Card, you may consider the BOBCARD Cashback Credit Card.
Gopal Gidwani is a freelance personal finance content writer with 15+ years of experience. He can be reached on LinkedIn.
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