Recently I posted about the OneCard Lifetime Free Metal Credit Card and discussed how you could sign up for the waitlist. But we didn’t have a lot of information regarding this card at the time when it launched back in February 2020. But now we have the fine print (more or less), and in this post, I am going to discuss some of the critical features of OneCard.
In today’s post, I will be discussing the following:
So, bear with me. I will be answering all your doubts in a bit! Keep reading.
Update 2022: At the time of writing this post, OneCard Metal Credit Card was partnered with IDFC First Bank. However, as of 2022, their partnership ended and OneCard now comes with any of these banking partners: Federal Bank, South Indian Bank, SBM Bank, Bank of Baroda. All the rest of the features remains the same. Don’t worry about that!
Update 2021: Good News! IDFC FIRST Bank has now launched its own credit cards apart from the OneCard: The IDFC Millennia Credit Card, IDFC Classic Credit Card, IDFC Select Credit Card, & IDFC Wealth Credit Card. All 4 cards are Lifetime Free Cards and are given on a pre-approved basis without any documentation. Click on the respective links to find out more details about each card and how to apply. In case you get confused, here’s a Side-By-Side-Comparison to help you out.
Before we begin, let me invite you to our Finance Discussion Community on Facebook: FinTalks. Here we share our experiences and discuss queries related to banking, debit cards, and credit cards, mutual funds, stock markets, and more. We started in September 2020, and at the time of updating this post in January 2021, we have over 4k members. A lot of offers and discounts related to credit cards are also discussed here. Click Here to Join FinTalks.
OneCard Metal Credit Card Features and Benefits:
OneCard is a Metal Credit Card offered by FPL Technologies Pvt. Ltd. in partnership with IDFC First Bank, Federal Bank, South Indian Bank, Bank of Baroda, or SBM Bank.
Yes, it is an entirely metal credit card, although we do not know which metal they are using. But it is hard, and you cannot bend it if that is what you want to know. The size is similar to other metal and plastic credit cards and will fit in your money purse.
One good thing about OneCard is that it is an International VISA Signature Card. For those who don’t know what that means, there are generally four tiers of VISA Cards: Classic, Platinum, Signature, and Infinite. Classic is the lowest tier, which is most comfortable to obtain. Mostly you can get a VISA Classic or a Platinum card quickly.
Get OneCard Metal Credit CardVISA Signature and Infinite Cards are a bit on the upper tiers and not so easy to get. But here you are getting a Lifetime Free VISA Signature Card, which is quite good because you get to enjoy the VISA Signature Card benefits. You should check that link I gave above to know more.
As of 2022, OneCard has partnered with different brands and launched its own offers. You can find their offers on Amazon, Flipkart, Swiggy, Zomato, and many more apps. The list of all offers can be found inside the OneCard App.
So, the rest of the benefits come from the Rewards Points that you earn from your purchases. I have broken it down for you.
OneCard Reward Points Breakup: How to Earn? How to Redeem?
Okay here goes the fine print:
- You earn 1 Reward Point per ₹50 spent on your Credit Card.
- 10 Reward Points is equivalent to ₹1. That means you need to spend ₹500 to earn ₹1.
- So in easy words, you earn 0.2% rewards against your transactions.
- You can redeem Rewards points to repay your existing purchases or opt for other rewards.
- Reward Points never expire. So you can keep accumulating them and redeem big.
- You will keep getting fractional rewards points for even small transactions (₹10, for example).
- There are no fees associated while you redeem your reward points.
- Get 1% Fuel Surcharge Waiver.
- You won’t earn Reward Points for Transfers, Wallet Reloads, and Cash Withdrawals.
This is the basic idea of Rewards Points, how to earn them and how to redeem them. But there is also 5x Rewards Benefits on Top 3 Categories. I will explain that too:
- In any month, if you transact in 3 or more different categories, then for the top 2 Categories your rewards points will be multiplied by 5.
- For example: If you transact for ₹500 for Ordering Packet Food Items (Grocery), ₹500 for Booking Movie Tickets,(Entertainment), and ₹100 for Train Tickets (Travel) Booking in any month, then, for those transactions, Rewards Points will be 5x the usual 0.2% rate. So, you will be getting 1% rewards points for those two categories.
- If you spend in more categories, other than 3, then your points will be 0.2% only, for those categories.
- The categories where you will receive 5x points (1% rewards points) will keep changing depending on your purchase type. It will auto-select the top 3 categories at the end of each month.
That’s all about the rewards points. I hope I am clear. If you still have doubts, do let me know in the comments below, I will be happy to help. Let’s move towards the charges associated with OneCard.
OneCard Charges for Interest, Late Payment, Cash Withdrawal:
We already know OneCard is a Lifetime Free Metal Credit Card. All that means that you won’t be charged for renewals every month. But if you fail to pay on time, or you don’t pay the full amount of the bill generated, you might need to pay some interest or late payment charges.
This is not anything new and is the scenario with all credit cards. So, let me write the fine print for you.
- No Annual Charges. No Renewal Charges.
- 2.5% Interest: If you do not pay the full amount of the generated bill, then you will be charged 2.5% interest on the remaining amount.
- 2.5% Late Payment Charges: If you do not pay the minimum amount of the generated bill, then you will be charged 2.5% late payment fee (up to ₹1000), over and above the interest.
- Cash Advance Fees 2.5% (Minimum ₹300)
- Foreign Currency Exchange (FOREX) Markup Charges 1%.
OneCard Metal Card Reissue Charges:
Okay, this is important, and I made a separate heading for this so that you do not miss this.
Initially, you are getting a metal credit card free of cost. But if you lose it, you need to pay a lump sum to get another metal card or settle with a plastic card paying a minimal fee, which takes away one of the major USP of this card.
- Plastic Card Re-issuance Charges: ₹149+GST.
- Metal Card Re-issuance Charges: ₹3000+GST.
As you see, the cost is quite high to get another metal card. So, keep it safely stored. It will cost a lot for re-issuing.
What to do in case you lose your card?
- First, block the card usage from OneCard App.
- Then register a First Information Report (FIR) on your nearest Police Station.
- Submit a copy of the FIR, and mail OneCard team to report loss of card.
- They will get back to you with the option of re-issuance. You can let them know what type of card you need again!
How to Get OneCard Metal Credit Card?
Getting OneCard Metal Credit Card is very easy now. You can download the OneCard App and apply from there.
You need to complete your KYC by entering your Aadhar and PAN card details. Post that, OneCard will be issued to you.
Last Words:
That’s all about OneCard Metal Credit Card. It is great to see a fully metal credit card being offered to users. In India, we do not have the concept of metal cards in general. So, this card has easily gained a lot of traction due to its appeal.
Another good app from the same developer FPL Technologies is OneScore. OneScore is a general-purpose Credit Report App that allows you to view your credit score. They have partnered with both CIBIL and Experian to show your credit profiles. To be honest, this is one of the best credit report applications I have ever used. It shows your credit cards, loans, debts, and all other information related to your credit profile. Read more about how you can check your credit score using OneScore?
Thanks for reading till the end. I will be back soon. Don’t forget to join our Telegram Channel for the latest tech updates. Also, Join our FinTalks community on Facebook for discussing anything related to Finance.
Nirmal Sarkar is a Biotechnologist from the city of Joy, Kolkata. He is the founder of this blog and covers a wide range of topics from Gadgets to Software to Latest Offers. You can get in touch with him via nirmal@hitricks.com
Have you tried availing any airport lounge via One card ?
No. I haven’t tried.