BOBCARD Micro Enterprise Credit Card
- Joining fee
Nil
- Annual fee
₹500 + GST
- Best suited for
Business Expenses
- Reward type
Reward Points
Rewards
- Rewards rate
1 Reward Point Per ₹100 Spent
- Reward redemption
Redeem 1 RP = ₹0.25 for Cashback
Fees & charges
- Spend-based waiver
Annual Charges Waived on Spends of ₹50,000
- Foreign currency markup
3.5%
- Interest rates
1.5% Per Month and (18% Per Annum)
- Fuel surcharge waiver
1% Surcharge on Fuel Spends Between ₹400 – ₹5,000 (Maximum ₹250 Per Statement Cycle)
- Cash advance charges
2.5%
Product highlights
- The card has no joining fee but has an annual fee of ₹500 + GST, which is waivable on ₹50,000 annual spends.
- Earn 1 Reward Point for every ₹100 spent on eligible purchases
- Foreign currency markup fee of 3.5% on international transactions
- Interest charged at 1.5% per month (18% per annum) on outstanding dues
- 1% fuel surcharge waiver on fuel spends between ₹400 and ₹5,000 (max ₹250 per statement cycle)
Pros & cons
Pros
- The credit has no joining fee and a low annual fee, which makes it accessible for small business owners.
Cons
- The card offers a low reward rate compared to many other entry-level and lifetime free credit cards.
FAQs
What is the annual fee of the BOBCARD Micro Enterprise Credit Card?
The card has an annual fee of ₹500 + GST, which can be waived on annual spends of ₹50,000.
Is there any joining fee for this card?
No, there is no joining fee for the BOBCARD Micro Enterprise Credit Card.
How can I redeem my reward points?
Reward points can be redeemed as cashback or used for payments. The value is 1 RP = ₹0.25 for cashback and 1 RP = ₹0.15 for payments.
Is there any fuel benefit on this card?
Yes, a 1% fuel surcharge waiver is applicable on transactions between ₹400 and ₹5,000, with a maximum benefit of ₹250 per statement cycle.
What are the interest charges on this card?
The interest rate is 1.5% per month, which is 18% per annum on outstanding balances.