Travel on Points

Canara Bank Mastercard Platinum Credit Card

  • Joining fee

    Nil

  • Annual fee

    Nil

  • Best suited for

    Shopping

  • Reward type

    Reward Points

Rewards

  • Rewards rate

    2 RP for every ₹100 spent on E-Commerce

  • Reward redemption

    1 RP = ₹0.25

Benefits

  • Domestic lounge

    2 Complimentary Lounge Visits Every Quarter

  • Insurance

    Includes Air Accident, Purchase Protection Coverage, Baggage Protection, etc

Fees & charges

  • Rewards redemption fee

    Nil

  • Foreign currency markup

    3%

  • Interest rates

    2.5% monthly or 30% annually

  • Fuel surcharge waiver

    1% waiver on fuel transaction

  • Cash advance charges

    3% of the advance, minimum ₹30 per ₹1,000

Product highlights

  • This is a lifetime-free credit card.
  • Users receive 2 complimentary domestic lounge access quarterly.
  • Insurance coverage is also included with this card.

Pros & cons

Pros

  • The interest rate of this card is quite low.
  • A 1% fuel surcharge waiver is provided to cardholders.

Cons

  • The Forex markup charges for the Mastercard Platinum Card are high.
  • No welcome benefits are included with this card.

FAQs

How many domestic lounge visits do I get?

Cardholders are entitled to 2 complimentary domestic lounge visits every quarter.

Is there a fuel surcharge on transactions?

Cardholders enjoy a 1% waiver on fuel transaction surcharges, making it beneficial for frequent fuel purchases.

What coverage do I get in case of an air accident?

In case of an air accident, the cardholder gets coverage of ₹8,00,000, while the spouse is covered for ₹4,00,000.