One Card is a metal credit card, offered in partnership with many providers, including SBM Bank, Federal Bank, South Indian Bank, BOB Financial, and CSB Bank. It is a free credit card for lifetime, which suits people who are new to credit and want to earn reward points on their purchases. A significant feature of this credit card is that it does not restrict additional rewards earnings to specific categories, but instead offers 5x rewards on the top two spend categories. Continue reading to learn more about this credit card and identity, and determine if it would be a great fit for you.
What is a One Card Credit Card?
One Card Credit Card enables you to redeem the reward points at any time. This card can be obtained with a less or zero credit score by securing a credit card against Fixed Deposit. Several brands offer high-level security and a robust OneCard mobile app, making the card a great opportunity for users.
Types of One Card
One Card is co-branded credit card provided by RBI-approved Banks and Financial organizations, including SBM, Federal Bank, CSB Bank, South Indian Bank, and BOB Financial. Even though the card issuers vary, the rewards and advantages remain the same. These cards are labelled based on the respective banks with which OneCard has tied up.
- BOB Financial OneCard Credit Card
- Federal Bank OneCard Credit Card
- South Indian Bank OneCard Credit Card
- SBM Bank OneCard Credit Card
- CSB Bank OneCard Credit Card
One Card FD Credit Card
If you have a low credit score, either due to being new to credit cards or having financial issues in the past, obtaining an unsecured credit card can be challenging for you. Those who fail to meet this eligibility criteria can have an alternative way. They can start a fixed deposit with any of the partnered banks and get a One Card in exchange of the deposit.
Key Features and Benefits of One Card
There are key features and benefits that the One Card holders enjoy:
- Zero joining fee and annual fee
- Reward points on every purchase: Get one reward point for every Rs. 50 points were spent on the card, even in fractions, such as 0.50 points for every Rs. 25 spent.
- Immediate crediting of reward points
- No expiry date for the reward points
- Complimentary redemption of reward points, including in fractions
- Supported by both Android and iPhone devices
- Convenient, easy EMI options for purchases
- Cash withdrawal at ATMs
- Interest-free period of up to 48 days
- Effective mobile app for handling Card aspects, including PIN, activation, transaction, and One Card PIN
- Different offers are available under different categories
Fee and Charges of One Card Credit
One card credit cards are unique because of their free joining and yearly fees. This pertains to the card offerings under the OneCard lineup. This further improves the attractiveness to the users. However, users should be informed of other charges that may be levied under some situations. During periods of disruption or late payment, fees and late payment fees will be incurred. The rates for the charges include:
One card finance charges: The charges fluctuate between 2.5% to 3.5% per month, which is equivalent to 30% to 42% per annum. The fee is charged when the cardholders do not pay the amount due within the set timeline.
One card late payment fee: If the payment remains incomplete till the due date, a late payment fee of 2.5% of the total amount is applied. This cost is reserved at a maximum of Rs 1000.
The table below summarises the OneCard fees:
| Charges | Amount |
| One card joining fee | Nil |
| One card annual fee | Nil |
| Finance charges | 2.5% to 3.5% per month |
| Late payment fee | 2.5% of the total amount due |
Even though One Card offers lifetime unlimited service, it is essential to manage the payments efficiently to avoid additional charges.
One Card Offerings
| Category | Offers |
| Food and dining | The eligible candidates can enjoy great discounts on the groceries with immediate cashbacks
They can also enjoy zero-cost deliveries and discounts on booking at restaurants, cafes and other |
| Travel | The cardholders can enjoy no-cost EMI on bookings at travel and tours platforms
They can also get huge discounts on the flights, road transportation and rail travels The cardholders can get additional off on their stays |
| Entertainment | The cardholders are entitled to the entertainment subscription discounts |
| Education | The cardholders can get promising cashbacks on their educational payments through particular UPIs
They can also enjoy discounts on international tuition fees Discounts are also availed on the online courses |
| Health and wellness | The eligible candidates can get great discounts on the health and wellness items
They can get discounts on the branded health and wellness products |
| Fuel | You can also get surcharge waiver with fuel purchase |
How to Redeem One Card Reward Points?
The best thing about the association with the One Card entity is redeeming the reward points collected over time with the credit card. The reward points can be used for payback. For instance, if you order food on Zomato for a minimum of Rs 550, you can earn your OneCard reward points to settle that amount.
How to Use the One Card App?
Both Android and iOS users can access One Card app. The overall offerings of the OneCard Metal card could be tracked with the help of this app. After logging into your OneCard app, you will find a home page where your cumulative balance is highlighted along with other card details.
