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BOBCARD / Federal Bank / SBM Bank (multi-issuer)
OneCard Credit Card
4.3 / 5visa · mastercard · rupay
- Joining fee
- Lifetime free
- Annual fee
- Lifetime free
- Base reward
- 0.2%
- Min income
- ₹25,000/mo
- Forex markup
- 1%
- Interest p.a.
- 45%
Where it earns
| Category | Rate | Monthly cap |
|---|---|---|
| Everything else | 1% | Uncapped |
Benefits
- ▸Lifetime free metal credit card with no joining or annual fee
- ▸5X reward points on your top two spend categories each month
- ▸Among the lowest forex markups in India at ~1%
- ▸Instant issuance/redemption of points via app; no redemption fee or minimum threshold
- ▸Full app-based card controls and real-time transaction notifications
- ▸Up to 48 days interest-free period
The good
- + Lifetime free with a metal card design
- + Low ~1% forex markup, strong for international/online USD spends
- + Flexible 5X on auto-selected top two categories each month
- + No redemption fee or minimum threshold; full app control
The catch
- − Low base reward rate (~0.2%) and modest ~1% even on accelerated categories
- − No lounge access or milestone benefits
- − No fixed single issuer; terms can vary by partner bank
- − New issuance subject to RBI compliance restrictions on OneCard