Snapdeal Bank of Baroda Credit Card is a noteworthy co-branded card that was launched in partnership with Snapdeal in 2023. Despite Snapdeal not being the top choice for many shoppers today, this credit card offers some attractive features, making it a decent entry-level option. In this review, we will delve into the card’s benefits, rewards, fees, and charges.
Fees and Charges
The Snapdeal Bank of Baroda Credit Card comes with a Joining Fee of Rs 249+GST and an Annual Fee of Rs 249+GST. Although it would have been ideal to see some criteria for waiving the annual fee, this card still offers a welcome benefit of Rs 500 Snapdeal GV.
Rewards Program
The credit card offers a diverse rewards program that allows cardholders to earn reward points (RP) based on their spending patterns. Here’s a breakdown of the reward rates:
- Snapdeal spends: 20 RP/Rs 100 ~ 5% Return
- Online Shopping, Groceries, and Departmental Stores: 10 RP/Rs 100 ~ 2.5% Return
- All Other Spends: 4 RP/Rs 100 ~ 1% Return
- UPI Spends: 4 RP/Rs 100 ~ 1% Return, up to Rs 125 per statement cycle
It’s worth noting that the accelerated 10 RP in the second category mentioned above is capped at 2000 RP per statement cycle. This means that you can spend up to Rs 33,333 on utilities, groceries, and departmental stores per month to reach these caps.
Rewards Redemption
One of the standout benefits of this credit card is its flexible rewards redemption policy. Each reward point is equivalent to 25 paise and is automatically credited as cashback to the cardholder’s statement. This feature allows users to enjoy statement credit, which is often more convenient than redeeming rewards for vouchers, especially for entry-level cardholders.
Fuel Surcharge Waiver
Cardholders can avail a 1% fuel surcharge waiver for transactions ranging from Rs 400 to Rs 5000, up to a maximum of Rs 250 per month. This benefit is a great money-saving perk, especially for those who frequently use their credit card for fuel expenses.
Final Thoughts
The Snapdeal Bank of Baroda Credit Card offers an attractive 1% to 2.5% return on spending, making it a reasonable option for entry-level users. Its compatibility with Rupay and UPI transactions adds to its versatility. However, it is important to consider the annual fee of Rs 249 plus taxes, which impacts the overall return on the card. Another aspect to bear in mind is the customer support provided by Bank of Baroda, which has been criticized for being lacking in responsiveness.
In conclusion, if you are an avid Snapdeal shopper or looking for an entry-level credit card with decent rewards, the Snapdeal Bank of Baroda Credit Card could be a suitable choice for you. Just be mindful of the associated fees and the potential customer support issues. As always, before applying for any credit card, it’s best to assess your individual spending habits and financial needs to find the card that aligns perfectly with your requirements.