Canara Bank Visa 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 transactions
- Reward redemption
Redeem RP for cashback and goods; 1 RP = ₹0.25
Benefits
- Domestic lounge
2 complimentary lounge access every quarter
- Insurance
Air accident coverage for self and spouse, baggage insurance, etc
Fees & charges
- Foreign currency markup
3%
- Interest rates
2.50% monthly or 30% annually
- Fuel surcharge waiver
1% fuel surcharge of up to ₹100 on fuel transaction
- Cash advance charges
3% of the advance, minimum ₹30 per ₹1,000
Product highlights
- Complimentary airport lounge access is provided twice every quarter.
- Fuel surcharge waiver of 1% on fuel transactions.
- There is no spend-based waiver with this card.
Pros & cons
Pros
- This card has no joining or renewal fee and is quite affordable for middle-class people.
- Insurance coverage is provided to users for their peace of mind.
Cons
- The card offers no benefits other than airport lounge access and insurance benefits.
FAQs
Are there any travel benefits with this card?
Yes, cardholders receive complimentary access to domestic airport lounges twice every quarter.
What insurance benefits are included with the credit card?
The card offers air accident coverage of ₹8 lakhs for the primary cardholder and ₹4 lakhs for the spouse, as well as baggage insurance and purchase protection.
Do I need a specific income level to apply for this card?
Yes, you should have an independent income of at least ₹1 lakh gross per year. If you’re a staff member, the minimum net take-home salary should be ₹4,000 per month.