This blog will talk about the types of SBI forex cards, the benefits of SBI forex cards and eligibility to apply.

What is a forex card? 

Before diving deep into the two forex cards, we should know what a forex card is? So, a forex card is an inexpensive alternative to credit cards. It is a prepaid foreign currency card with the facility of multi-country currency. Forex card saves you from currency risks. You can preload the amount on your card.  Forex cards can also be a good option for you if you are a frequent traveller because you can load one or multiple currencies.

Types of SBI forex cards: 

State bank of India foreign travel card: 

It is a prepaid Foreign Currency card. The Card is a chip-based EMV compliant Card, thus ensuring a  convenient and secure way to carry cash. The Card is valid worldwide except in India, Nepal and  Bhutan. State bank foreign travel card is available in nine Foreign Currencies viz. US Dollars (USD),  Pound Sterling (GBP), Euro (EUR), Canadian Dollar (CAD), Australian Dollar (AUD), Japanese Yen  (YEN), Saudi Riyal (SAR), Singapore Dollar (SGD) and United Arab Emirates Dirham (AED).

State bank of India multi-currency foreign travel card: 

As the name suggests, a state bank multi-currency foreign travel card is best for all your travel currency on one Card. You get to load one or more of the following currencies- US Dollars, British Pounds,  Euros, Singapore Dollars, Australian Dollars, Canadian Dollars and UAE Dirham. You can use your card to withdraw money from over 2 million ATMs worldwide accepting MasterCard® cards or to pay for goods and services in shops, restaurants and hotels around the globe (other than in India, Nepal and  Bhutan). It is chip protected, thus ensuring a secure method of carrying cash.

Feature of SBI forex card

State bank of India foreign travel card: 

• The Card is issued in association with VISA International and MasterCard Asia/Pacific Pte.  Ltd.

• The Card is accepted worldwide except in India, Nepal and Bhutan.

• Minimum amount of load/Re-load in card is USD 200/ GBP 120/ Euros 150/ CAD 200/ AUD  200 / YEN 15,800 / SAR 750 / SGD 250 / AED 750.

• You can make free balance enquiry at State Bank Group ATMs in India and VISA /MasterCard  ATMs overseas at charge.

• Card is available for retail (tourists, pilgrims, medical needs, etc.) and corporate customers  (Companies, Government Departments, etc.).

• This Card is operable by 4 digit PIN at ATMs and a PIN/Signature at Merchant  Establishments.

State bank of India multi-currency foreign travel card: 

• The Card comes with a reloadable facility; thus, you can quickly reload your State Bank Multi Currency Foreign Travel Card++ with more funds ahead of your next trip. All you need is your  State Bank Multi-Currency Foreign Travel Card, valid passport and Form A2 (available at  branches) and top up at FTC issuing branches of State Bank of India.

• The facility of locking the value of your Card balances whenever you (re)load your State Bank  Multi-Currency Foreign Travel Card. This could help you avoid exchange rate fluctuations and  variances while you’re abroad, and clear charges give you the control to manage your budget.

• The State Bank Multi-Currency Foreign Travel Card comes with 24/7 Global Assistance,  including emergency cash replacement up to the available balance on your Card. • The bank will also give an additional card to the cardholder that can act as a backup if the original Card gets lost.

• The bank will not link your state bank multi-currency foreign travel card to your bank account.  Thus, your bank account is secure against counterfeit.

• The balance of the transaction will automatically be deducted from other available currency on your Card, in the following order of priority: USD, EUR, GBP, SGD, AUD, CAD and AED in case you have insufficient funds in a transaction currency to pay for a transaction.

Eligibility to apply for an SBI forex card

• Indian individual who plans to travel abroad except Nepal and Bhutan is eligible. • Corporate for their employees whom they plan to send abroad for official purpose subject to completion of KYC norms are eligible.

• Parents/sponsors of the students going abroad for higher studies, in student’s name and can be subsequently reloaded up to the statutory ceiling, prescribed from time to time under FEMA  guidelines 1999, and subsequent amendments are also eligible.

• And Foreign Nationals residing in India, subject to completion of KYC/FEMA norms, are also  eligible.

Summing up: 

SBI cards is one of the best credit cards in India. Thus, it is also one of the most trusted banks in the country. If you plan to go abroad, you can save a lot of money by considering an SBI forex card.  After reading this blog, you now know the types of forex cards offered by the State bank of India. Before choosing your bank, you must compare the offers and features offered by various banks to conclude.

The post All about SBI forex cards appeared first on ElitesMindset.

AU Small Finance Bank Zenith Credit Card

Reward System (1 Reward Point = 0.25 Paise)

• 20 reward points per Rs 100 retail spend done on dining at Standalone restaurants.Therefore, the reward rate is 5%.
• 10 reward points per Rs 100 retail spending done on International transactions, Grocery, and Departmental stores. Therefore, the reward rate is 2.5%
• 5 Reward Points per Rs 100 retail spends done across all other merchant categories. Therefore, the reward rate is 1.25%.
• Note: Fuel transactions are excluded from earning reward points.

Charges {Joining / Annual : Rs 7999 without GST}

• For 1st year fee waiver : Rs 125000 retail spends done within 90 days of card set up.

• For 2nd year onwards fee waiver : Rs 5,00,000 retail spends done in previous card anniversary year.

Benefits

• Railway Lounge Access: 2 per quarter

• Airport Lounge Access: 2 International (Priority Pass)  with an addition of 4 Domestic per quarter

• Markup Fees: 1.99% per month or 23.88% per annum

• Fuel Surcharge Waiver: 1% Fuel Surcharge waiver at all fuel stations across India with no limit.

AU Small Finance Bank Vetta Credit Card 

Reward System(1 Reward Point = 0.25 Paise)

• 10 Reward Points per Rs 100 retail spends done on utility bill payments. Thereby, the reward rate is 2.5%.
• 4 Reward Points per Rs 100 retail spends done on grocery and departmental store spends. Therefore, the reward rate is 1%.
• 2 Reward Points per Rs 100 retail spends done across all other merchant categories. Therefore, the reward rate is 0.5%.
• Note: Fuel transactions are excluded from earning reward points.=

Charges {Joining / Annual : Rs 2999 without GST}

• For 1st year fee waiver : Rs 40,000 retail spends done within 90 days of card set up.

• For 2nd year onwards fee waiver : Rs 1,50,000 retail spends done in previous card anniversary year.

Benefits

• Railway Lounge Access: 2 per quarter

• Airport Lounge Access: 1 International (Priority Pass) with an addition of 2 Domestic per quarter

• Markup Fees: 2.99% per month or 35.88% per annum
• Fuel Surcharge Waiver: Fuel Surcharge waiver at all fuel stations across India upto Rs 250 every month.

AU Small Finance Bank Altura Plus Credit Card 

Reward System(1 Reward Point = 0.25 Paise)

• 1.5% Cashback on all POS retail spends done at merchant outlets (Maximum cashback per statement cycle is Rs 100)
• 1 Reward Points per Rs 100 retail spend (except fuel) on POS, after you reach the maximum cashback limit. Therefore, the reward rate is 0.25%.
• Note: Fuel transactions are excluded from earning reward points.

Charges {Joining / Annual : Rs 499 without GST}

• For 1st year fee waiver : Rs 20,000 retail spends done within 90 days of card set up.

• For 2nd year onwards fee waiver : Rs 80,000 retail spent in previous card anniversary year.

Benefits

• Railway Lounge Access: 2 per quarter

• Airport Lounge Access: Nil

• Markup Fees: 3.49% per month or 41.88% per annum
• Fuel Surcharge Waiver: Fuel Surcharge waiver at all fuel stations across India upto Rs 150 every month.

AU Small Finance Bank Altura Credit Card

Reward System 

• 2% Cashback on all retail spends done at Grocery stores, Departmental stores and Utility bill payments(Maximum cashback per statement cycle is Rs 50)
• 1% Cashback on all retail spends(Maximum cashback per statement cycle is Rs 50)
•  (Note: Fuel transactions are excluded from earning reward points.

Charges {Joining / Annual : Rs 199 without GST}

• For 1st year fee waiver : Rs 10,000 retail spends done within 90 days of card set up.

• For 2nd year onwards fee waiver : Rs 40,000 retail spent in previous card anniversary year.

Benefits

• Railway Lounge Access: 2 per quarter

• Airport Lounge Access: Nil

• Markup Fees: 3.49% per month or 41.88% per annum
• Fuel Surcharge Waiver: Fuel Surcharge waiver at all fuel stations across India upto Rs 100every month.

We hope this article helped you in making the right decision, it’s time for you to login into the AU Small Finance Bank Website and start your journey of financial empowerment by applying for best credit cards in India online.

The post What credit cards are offered by AU Small Finance Bank? appeared first on ElitesMindset.

So here’s the list that enlists the best of fuel credit cards in India: 

BPCL SBI Card Octane 

Features of the Card: 

Joining/Annual fees: The Card charges one-time joining fees of Rs. 1499 and renewal fees of Rs. 1499  per annum. 

Welcome benefits: You get 6000 bonus reward points equivalent to INR 1500 on payment of annual  fees. The reward points can be credited to your account within 30 days of the annual fee payment. 

Fuel related waiver benefit: On transactions up to Rs. 4,000, you are charged a 1% fuel surcharge less  across all BPCL petrol pumps in India, exclusive of GST and other charges. 

You can enjoy 7.25% Value back or 25X Reward Points on fuel purchases at BPCL petrol pumps. And a  maximum of 2500 Reward Points per billing cycle. You can enjoy a 6.25% + 1% Fuel surcharge waiver  on every BPCL transaction up to ₹ 4000 (exclusive of GST and other charges). 

You get a fuel surcharge waiver of Rs. 100 per statement cycle per credit card account, which is  equivalent to an Annual Savings of Rs.1200. 

You also get other reward benefits, lounge access benefits and milestone privileges. 

IndianOil Citibank Platinum Credit Card 

Features of the Card: 

Welcome benefits: You can earn a cashback of Rs. 250 on all fuel transactions performed on the Card  within 30 days of the card issuance. 

Joining/Annual fees: The card charges joining fees of Rs.500 and annual fees of Rs. 500 charged from  the second year onwards (waived on the spending of INR 50,000 in a year). 

Fuel waiver benefits: You get a fuel surcharge waiver of 1% on transacting on any INDIAN FUEL  OUTLET between Rs.200 and Rs.5000 to avail the offer. 

You can enjoy a 4% value back on fuel transactions between Rs.100 to Rs.5000 by earning 20 reward  points per Rs.100 spent at IOCL outlets.

Other benefits: You get a 1% value back on online shopping by earning 5 reward points per Rs.100  spent. 

You can get an annual fee waiver on spending more than Rs.50000 in a year. 

You get a 10% discount on movie tickets booked via book my show. 

Citibank Indian Oil Credit Card (Platinum) 

Features of the Card: 

Welcome offer: You get 250 Turbo Points on your first spend within 30 days of card issuance. 

Joining/Annual fees: the Card does not charge a joining fee. An annual card fee of INR 1000 + GST  may be levied on the Card at the end of the membership year. You shall be exempted from the said  annual card fees of the year if you spend INR 30,000 or more on your Card. 

Fuel waiver benefits: You can earn 4 turbo points/Rs.150 spent and 1% fuel surcharge reversal on fuel  purchase from the IOCL outlet. (1 turbo point equals Rs.1 of free fuel) 

Other benefits: 

You can Earn 2 Turbo Points for every Rs.150 spent on groceries and supermarkets. 

Apart from this, you also get other Shopping & Lifestyle Offers, Home & Utility Offers, Dining &  Groceries and offers on Travel & Luxury. 

ICICI Bank HPCL Super Saver Credit Card 

Features of the card: 

Welcome benefit: You get a joining benefit of 2000 points on activation and fee payment and Rs.100  cashback on the HP pay app. 

Joining/Annual fee: The Card charges one-time joining fees of Rs.500 and annual fees of Rs.500 (can  be waived on the spending of Rs 1 50,000 per year). 

Fuel waiver benefits: You get 5% cashback on all fuel spent at HPCL outlets and an additional 1.5%  back in reward points on all fuel purchases through the HP pay app. 

Other benefits: 

There is access to domestic airport lounges and exclusive dining offers through the ICICI bank culinary  treats programme. 

You get 5% on reward points back on all retail purchases. 

You get a 25% discount on movie ticket booking from the book my show twice a month up to Rs.100  per transaction. 

HDFC Bharat credit card 

Features of the card: 

Joining/Annual fee: Rs. 500/- Plus Applicable Taxes.

Fuel waiver benefits: You can enjoy savings with 5% monthly cashback on Fuel expenses. 

You get a 1% surcharge waiver and save up to Rs. 250 in every billing cycle (Min transaction of Rs.  400). 

Other benefits

You can enjoy savings with 5% monthly cashback on Groceries and 5% monthly cashback when you  book tickets through IRCTC. 

Conclusion 

After reading this blog, you know all the fees and charges related to fuel credit cards and their benefits.  Before choosing a credit card, you must keep in mind all the expenses, fuel waivers, and other Best credit cards offers offered by the Card.

The post Which are the best credit cards for fuel? appeared first on ElitesMindset.

Reward Credit Cards: Meaning

A reward credit card is a type of credit card offered by banks and financial institutions in which you either get cashback, points, or miles for eligible purchases made by using your reward credit card.

Types Of Reward Credit Cards

There are 3 types of reward credit cards:

• Points: In the points reward system the user gets a fixed amount of points per dollar spent and a redemption conversion in the ratio of 1:1.Please note that there could be different reward rates, conversion rates, and redemption options depending upon the card issuer. Also, you earn points instead of rupees which is essentially a different currency, which makes reward cards a bit more complicated to understand than cashback reward cards for their users. Some point reward credit cards may offer 2X points on travel purchases while others offer 5X points on the same travel purchases, therefore you must go through all terms and conditions and should only choose a point to reward credit cards that complement your lifestyle.

For Example, Ram redeems 30,000 points to book a 3000 rupees flight that his card issuer is offering him one cent per piece. But, if he uses 30,000 points to book a flight worth Rs 6000, then his point value increases by two percent.

• Miles: In the miles rewards system, the user gets to earn miles on every rupee he spends by using the card along with often getting offered boosted reward rates for travel-related purchases. It works similarly to points but these are mainly associated with travel cards which provide its users the benefit of redeeming rewards for flights, airport lounge access, seat upgrades, and other travel-related expenses. Some cards offering miles reward systems may also, an option to its users of transferring miles to the issuer’s travel partners, which mostly include airlines and hotels.

For example, Ram uses miles to book a flight from Delhi to Goa for himself, he can typically redeem them by simply logging into his account during the booking process, and similarly, he can redeem them while booking a hotel.  

• Cashback: It is one of the most attractive offers offered by reward credit cards. It works on the most simple principle the users get real cash on eligible purchases made by using the reward credit card. The cashback reward may range between 1 % to 5% of your total expenditure made on eligible purchases.

For Example, Ram made purchases worth Rs 1000 by using a 5% cash back card on eligible purchases, he will get 50 rupees as reward points. When he redeems his rewards, the cashback will directly be deposited into his bank account.

Each one of us buys a credit card to gain benefits but where it financially empowers many, it financially troubles some. To make sure you are not the one getting troubled, make sure you research interest rates, annual fees, and sign-up bonuses along with analyzing your budget and lifestyle well. It will not only ensure that you get the best of the card’s overall value but will also determine how much the rewards you earn will be worth. 

The post Types of Credit Card Rewards appeared first on ElitesMindset.