As many of you are asking for reviews on RBL cards, i’m starting with RBL Platinum Delight credit card which is one of the beginner level card from RBL Bank. While RBL bank is not so popular in credit card segment, they do have cards with decent reward rate. However, i don’t like the concept of paying joining fee for reward points whatsoever. Though, you can get some benefits if you spend with a strategy.
- Joining Fee: Rs. 1000+GST
- Welcome Bonus: 4,000 Points
- Annual Fee Waiver: Spend Rs. 1.5 Lakhs or more in the previous year
The welcome bonus worth is equivalent to the Joining fee paid.
- 2 Reward points per Rs.100
- 1,000 Bonus Reward Points every month on 5 transactions worth Rs. 1,000 each or more in a calendar month.
- 1 Reward point = 0.23ps – 0.25ps
This card is best if you spend around Rs.5,000 a month or about Rs.60,000 a year. Lets see how much we can save in that case.
- RP for 5 transactions worth Rs. 1,000 each or more in a calendar month = 12,000 Points/yr
- RP for Rs.60,000 spend for doing above txn’s in a yr = 1,200 Points
- Total = 13,200 Points = Rs.3000 in Value
- Effective Reward Rate: 5%
Ever wondered this basic card has quiet a lot of potential? So Never underestimate the potential of the card based on the joining fee 😀
Features & Benefits
- CardExpert Rating: 3.5/5
- Reward rate: Upto 5%
- Complementary Airport lounge access: Nil
- Fuel Surcharge Waiver: Capped at Rs. 150 every billing cycle (S.Tax applicable).
- Foreign Exchange Markup fee: 3.5% + Service Tax
- Renewal Fee Waiver: Renewal fee reversed if you spend Rs.1.5 Lakhs in a year
- Special Features: Monthly Bonus, 2X points on weekends spends.
While this card comes with a nice 5% reward rate, it suits only for small spenders with average annual spend of about Rs.60,000 who can effectively use to avail the monthly bonus. This Monthly bonus feature is basically copied from American Express Gold charge card, well, who cares, they applied it a better way.
One downside though, the redemption options are limited. Though, you can easily burn them on Recharges for this range of reward points. Other cards in this beginner level segment are Standard Chartered Manhattan Credit Card and Moneyback card. You can also checkout my latest list of 7 Best Cashback Credit Cards if you’re looking for direct cashback on your credit card spends.