Bank of Baroda Premier Credit Card is issued by BoB Financial which aims at providing various benefits at low charges. It comes with a zero joining and annual fee. Up to 10 reward points can be earned on every Rs. 100 you spend using this card and these points can be redeemed against an array of options including cash credit. Moreover, you also get complimentary visits to selected airport lounges in India every calendar quarter.
Previously, the card used to come with an annual fee of Rs. 1,000, which is not waived off by the issuer in order to provide its customers with great benefits at no cost. Other card benefits include fuel surcharge waiver, personal accident insurance, etc. To know more about the Bank of Baroda Premier credit card, go through the complete article:
- Joining Fee- Rs. 1000 plus applicable taxes
- Renewal Fee- Rs. 1000 plus applicable taxes
- Best Suited For- Travel | Dining
- Reward Type- Reward Points
- Welcome Benefits- NA
Rewards and Benefits
- Movie & Dining- NA
- Rewards Rate- For every Rs. 100 spent on dining, travel, and international transactions, you will get 10 Reward Points, 2 Reward Points on all other spends.
- Reward Redemption- You can redeem these rewards by logging into your Bank of Baroda net banking account and choose from multiple redemption options. 1 Reward Point = Re. 0.25.
- Travel- You will get complimentary access to the domestic lounges.
- Golf- NA
- Domestic Lounge Access- 1 complimentary domestic lounge visit per quarter.
- International Lounge Access- NA
- Insurance Benefits- You get a personal accidental death cover with this credit card
- Zero Liability Protection- Protection against fraudulent transactions in case of loss or theft of the card, if informed to the bank within the specified time frame.
Fees & Charges
- Spend based Waiver- Spend Rs. 10000 within 60 days for joining fee waiver and Rs. 1,20,000 in the year to get an annual fee waiver
- Rewards Redemption Fee- Nil
- Foreign Currency Markup- 3.5% on the transaction amount
- Interest Rates- 3.25% per month (39% per annum)
- Fuel Surcharge- 1% waiver on fuel transactions between Rs. 400 and Rs. 5,000.
- Cash Advance Charge- 2.5% of the amount withdrawn subject to a minimum charge of Rs. 300.
- Add-on Card Fee- Nil
Product Details
- 2 reward points on every Rs 100 spent on all categories.
- 5x reward points while spending categories such as dining, travel, and international transactions.
- Complimentary Domestic Lounge Access at selected airports.
- Insurance benefits covering personal accident death cover.
- 1% fuel surcharge waiver on fuel transactions at all fuel stations across India.
Bank of Baroda Premier Credit Card Features and Benefits
The Premier Credit Card offered by Bank of Baroda is a basic card that comes with a decent reward rate and is among the popular cards offered on the RuPay platform. The detailed features and benefits of this card are given below:
Travel Benefits
You get 1 complimentary domestic lounge access every quarter at select airports using a Bank of Baroda Premier credit card.
Fuel Surcharge Waiver
- The cardholders will get a 1% fuel surcharge waiver on fuel transactions at all fuel stations across India. The waiver is applicable on transactions ranging between Rs. 400 to Rs. 5,000.
- The fuel surcharge waiver is capped at Rs. 250 per month.
Other Benefits
- You get a 24×7 concierge service benefit with this credit card
- You get insurance benefits covering personal accident death cover along with zero liability coverage in case of loss or theft of card.
- You can get up to 3 free add-on cards on this credit card.
Bank of Baroda Premier Credit Card Rewards
- You get 10 reward points on every Rs 100 spent on travel, dining, and foreign spends
- You get 2 reward points on every Rs. 100 spent on all categories
- You get a reward rate of 0.5% on all other categories
- The 5x reward points are capped at 2,000 reward points per month on travel, dining, and foreign spends
- No reward points get accrued on any fuel transactions
Reward Redemption
- The reward points can be redeemed against various categories, including flight/hotel bookings, shopping, products, gift vouchers, etc.
- 1 Reward Point = Re. 0.25
Bank of Baroda Premier Credit Card Fees and Charges
- The card has a joining fee and annual fee of Rs. 1000 plus taxes which can be waived off on reaching the target spend amount.
- The card charges an interest rate of 3.25% per month or 39% per annum
- The card charges a forex markup fee of 3.5% of the transaction amount
- The card has cash withdrawal fee of 2.5% of the amount or Rs. 300, whichever is higher
- The card does not charge any fee for add-on credit cards.
Bank of Baroda Premier Credit Card Eligibility Criteria
Listed below are the eligibility criteria that need to be fulfilled before you apply for BoB Premier Credit Card :
- Age – < 21 years.
- The applicant must either be a salaried or self-employed individual with a stable source of income and a decent credit score.
- The applicant should either be salaried or self-employed, i.e, they should have a stable source of income.
- The applicant should have a decent credit score.
Documents Required
Following is the list of documents required to apply for the Bank of Baroda Premier Credit Card:
- Identity Proof: Voter’s Id, Driving License, PAN Card, Passport, or Aadhar Card.
- Address Proof: Aadhar Card, Passport, utility bills of the latest months, or any other valid government-approved address proof.
- Proof of Income: Latest audited ITR, or latest months’ bank statements or salary slips.
How to Apply for a BoB Premier Credit Card?
We can apply for this credit card both through online and offline mode.
Online Mode:
Step 1: Visit the official page www.bobfinancial.com/prime.jsp
Step 2: Under the credit cards section, search for Bank of Baroda Premier Credit Card
Step 3: Click on ‘Apply Now’ once you have found the card.
Step 4: Fill in the required details and provide the necessary documents.
Step 5: Hit the Submit button once all the formalities are done.
Offline Mode:
For applying through offline mode, the applicant will have to visit the nearest bank branch and fill in the credit card application form along with providing the necessary details and documents.
Conclusion
This BoB Premier card is a great travel card offered by BoB Financial that comes with several benefits and privileges in the travel category. The 5x reward points on travel dining and international spending are one of the key features of this credit card. It is one of the very rare credit cards in the market that offer complimentary lounge access with a zero annual fee. With a decent reward rate and travel benefits. it has become a great choice for those who frequently travel within the country. What do you think about this credit card? Do let us know in the comments.
