SBI in collaboration with the OLA launched a credit card named OLA Money SBI Credit Card. This is an entry level credit card that is best suited for the beginners. You can easily build and improve your credit score with this credit card. You can begin your credit journey with this credit card as it is worth the consideration. Here are the key features and benefits of the OLA Money SBI Credit Card that you must know before applying for it:
Joining and Renewal fee: You can avail of the OLA Money SBI Credit Card without any joining fees. However, to keep enjoying the benefits of this credit card you would require to pay the renewal fee of Rs. 499 in the subsequent years.
Welcome benefits: Once your credit card application is approved and you receive your credit card, as a welcome benefit the credit card issuer provides you a flight voucher worth Rs. 300 and an EaseMyTrip voucher worth Rs. 2,000.
Reward Rate: With this credit card you can earn 1% reward point on all your spendings and 7% reward points on OLA rides. These reward points are directly credited to your OLA Money Wallet. 1 reward point is equivalent to Re. 1.
Fuel surcharge waiver: The OLA Money SBI Credit Card lets you enjoy a 1% fuel surcharge waiver on all your fuel transactions. The maximum surcharge is capped up to Rs. 100 per statement cycle.
Spend-based waiver: You can make this credit card a lifetime free credit card and can enjoy all the benefits without having to the renewal fee. On spending Rs. 1 lakh or above in the previous year entitles you to the Renewal Fee waiver benefit.
Other Benefits: With this credit card you get exclusive benefits from Cleartrip. You can get 5% cashback on flight bookings, 10% cashback on domestic hotel bookings, 6% cashback on international hotel bookings, and 12% cashback on all other activities booked via cleartrip.
Important things to remember before applying for this credit card:
- To apply for the OLA Money SBI Credit Card you need to furnish certain documents and meet certain criterias:
- The salaried applicant must be above the age of 18 years.
- The self-emolyed applicant must be above the age of 21 years.
- The applicant should be an Indian resident.
- The applicant should have a stable source of income.
- The applicant must provide the copy of identity proof, address proof, and income proof.
How to apply for OLA Money SBI Credit Card:
You can choose one mode of application to apply for OLA Money SBI Credit Card as per your convenience. The two modes are online and offline. You can visit the SBI official website and select the credit card and click on the apply button and proceed with online application. Another option is the offline method, visit the nearest SBI Branch and fill out the credit card application form and submit it with the required documents.
To conclude, OLA Money SBI Credit Card is ideal for those who are first time credit card users as it will help them to understand the working of the credit card. This credit card is designed to meet the travel benefits of the customers. You can enjoy all these benefits at a nominal renewal fee of Rs. 499.