Bank of Baroda which runs credit card business under the entity BOB Financial Solutions Limited (formerly known as Bobcards Limited) recently launched a new premium credit card named Eterna.
It is one of a kind due to its high reward rate on accelerated categories like: Online spends. Here’s everything you need to know about BOB Eterna Credit card,
Table of Contents
|Joining Fee||INR 2499+GST|
|Joining Fee Waiver||Spend INR 25,000 in 60 days|
|Welcome Benefit||6 Months FitPass Pro|
|Renewal Fee||INR 2499+GST|
|Renewal Fee Waiver||Spend INR 2.5L in 1 yr|
|Eligibility||Rs.12L Income p.a.|
- Travel / Dining / Online / International – 3.75% (max cap: 5000 RP/month)
- Other Regular spends – 0.75%
- Point Value: 25Ps/point
3.75% is highest ever we know of for regular online spends on credit cards. So its an amazing move for sure.
Capping of 5000 Bonus points is decent considering other BOB cards.
- 10,000 RP’s on spending Rs.50,000 within 60 days
- 20,000 RP’s on spending Rs.5,00,000 in a year
- Return on spend: 1.5%
So on spending Rs.5L, you get 1.5% on milestone itself and you may also get points as per regular rewards.
Even if 5L is spend on non-accelerated categories, one can get 2.25% return on spend, which is quite attractive indeed.
And not to forget, these rewards can be transferred to cash credit on statement, so they’re highly valuable.
That of course sounds mind blowing and hope it works the way they promise.
The sweet spot to maximise the benefit is by spending Rs.41,667 a month (online, Rs.5L a year) doing which you can walk away with 95,000 points (75K+20K) equivalent to Rs.23,750 cashback + first year free + renewal fee waiver 🙂
Overall its a net 4.75% reward rate on 5L spend, which is generous to see from Bank of Baroda.
- Buy-one-get-One Movie benefit: (Paytm). Max Cap: Rs.250 per month
- Forex markup Fee: 2%+GST
- Domestic Airport lounge Access: Unlimited (both for primary & add-ons)
- Cardexpert Rating: 4.8/5
Its undoubtedly a wonderful premium credit card product for those who know how to make use of it, as 3.75% return is highest ever one can get on regular online spends in India.
However, with the capping of 5K a month on bonus points, it may not suit high spenders. I rather wish they had 10K or higher capping.
Anyway, its really great to see such aggressive products from a public sector bank and this makes me wonder if BOB is planning to take BOB Financial that runs their credit card business for an IPO.
What’s your thoughts on Bank of Baroda going very aggressive with Eterna Credit card? Feel free to share your thoughts in the comments below.