We have known credit cards in the form of plastic. These cards are made from a plastic chip. However, recently a new card was launched called a metallic credit card, called OneCard Credit Card.
OneCard credit card has plenty of amazing features quite similar to your normal cards but the only feature that makes it unique is the material it is made. OneCard is a metal card with plenty of reward points and other offers.
The card is issued by collaborating banks such as IDFC First Bank, BOB Financial, SBM Bank, South Indian Bank, and Federal Bank. So, the best thing about OneCard is it does not have joining or renewal fees. Thus, you can enjoy plenty of benefits on the card without even paying any kind of charges.
What is OneCard Credit Card?
OneCard is known as the distinguished metal card launched in collaboration with popular banks such as South Indian Bank, SBM, CSB Bank, Federal Bank, and BOB Financial. As the lifetime-free card, this is the best choice for people who are new to credit, to get rewards on various purchases.
OnceCard distinctive rewards enable users to achieve 5X points on the top spending categories, thus promoting good spending habits as well as smart financial handling. Besides the payment tool, the OneCard credit card revolutionizes your banking journey with its unique offerings and blending convenience with the most rewarding benefits.
Also Read: 5 Best Low Salary Credit Cards in India
Benefits and Features of OneCard Credit
Given are some cool benefits and features of OneCard Credit:
- Earn reward points on each purchase: You will get a reward point for each INR 50/- spent on your Card, even in fractions such as 0.50 points to spend INR 25/-.
- No joining fee or annual fee.
- No expiration for reward points.
- Get instant crediting for the reward points.
- Supported by iPhone and Android devices.
- Various deals and offers are available in diverse categories.
- Free redemption of the reward points, like in-fractions.
- ATM withdrawal.
- Convenient EMI options.
- Robust Mobile App to manage all Card features, which includes activation, App PIN, OneCard PIN and transaction settings.
- Interest-free time of 48 days.
List of OneCard Collaborated Banks
OneCard can be issued in partnership with 5 major banks and users can apply for the credit card at the following banks:
- BOB Financial
- IDFC First Bank
- Federal Bank
- South Indian Bank
- SBM Bank
Eligibility & Documentations
- An applicant needs to be above 18 years old to get a OneCard Credit Card.
- Salaried and self-employed people can apply for a credit card.
- You need to have a steady income.
- The applicant’s CIBIL Score should be above 750.
- You require valid ID Proof.
- You require valid Income Proof and Address Proof.
Steps to Apply for a OneCard
- An applicant can apply for their OneCard Credit Card just by accessing OneCard’s official site & providing some basic details.
- Besides, you can apply for a credit card just by downloading the OneCard mobile application from AppStore or PlayStore.
- The entire application process may take just 5 minutes. Suppose you request for credit app status update on WhatsApp, then you can get the WhatsApp updates. You do not have to have any trouble tracking your credit card app status.
- User can apply for their OneCard Credit offline just by applying at their nearest branch of the collaborating banks.
Fees & Charges of OneCard Credit Card
Yearly Fee: OneCard Credit Card is a lifetime free card, thus, you don’t pay a yearly membership fee for this card.
Interest Rate: Suppose you fail to pay an amount due over your OneCard statement by its payment due date, then you will be charged the interest rate of 2.5% – 3.5% monthly (30% – 42% yearly) on its due amount.
Forex Mark-up: There is a fee applicable on the transactions made in foreign currency with a OneCard credit card and it will be 1% of your transaction amount (less than 2.5%).
Cash Advance Fee: You will be charged a cash advance charge of 2.5% of your withdrawn amount on the cash withdrawals with a OneCard Credit Card (minimum fee of INR 300).
OneCard Credit Card has a rewards program, which allows applicants to get points on their purchases. You may earn a reward point for each purchase made by using your OneCard credit card, and for the top 2 categories of spending, you may earn 5X of its reward points. The best part is these rewards don’t expire. It gives you complete flexibility to use it when you like without any reward redemption charges.
One card is very useful for people who wish to experience its metal form factor & low markup fee, and both of these are possible on super-premium cards only.
When we talk about the rewards, then the regular reward rate will be very low but it comes up with the targeted deals once in some time that helps to a certain extent.
Pros and Cons
- The fast and simple sign-up procedure
- A sleek application makes card management easy
- Lifetime metal card free
- Minimal Forex Markup Charge at 1%
- Less return for the entry-level card
- No additional benefits such as lounge access
Using OneCard credit for all your spending needs will simplify your financial management, help you to avoid your missed payments, provide better credit use, offer unimpeachable fraud protection and more. Additionally, this will help you to make more rewards as well as save money. Keep these extras in your mind while applying for the credit card, and ensure you take complete benefit.
Is OneCard owned by any bank?
The OneCard brand isn’t owned by any particular bank. But, it’s owned by OneConsumer Services which collaborates with other banks and issues co-branded cards under its name.
In what ways OneCard Credit can be used?
OneCard is the metallic card that is generally offered in collaboration with certain banks including South Indian Bank, SBM Bank, BOB Financial, and Federal Ban. It is the entry-level card that offers basic benefits to their users like EMI conversion, reward points, and much more.