When it comes to selecting a credit card that offers maximum rewards on everyday purchases, the RBL Bank ShopRite Credit Card stands out as a premium choice for individuals who value savings and rewards on grocery shopping, fuel, and utility bill payments. This credit card caters specifically to customers who frequently spend on daily necessities, offering lucrative benefits that translate into real savings. In this comprehensive guide, we will cover every aspect of the RBL Bank ShopRite Credit Card, from eligibility criteria to the exceptional rewards program, ensuring you understand its full potential.
Key Features of the RBL Bank ShopRite Credit Card
The RBL Bank ShopRite Credit Card has been carefully designed to offer maximum value to those who consistently spend on essentials. With a clear focus on grocery shopping, fuel purchases, and utility bill payments, cardholders can enjoy a myriad of benefits. Below are the key features that make this card a great option:
1. Welcome Benefits
Upon activating the RBL Bank ShopRite Credit Card, customers are greeted with exclusive welcome benefits. These include:
- Welcome vouchers worth ₹500 upon card activation.
- A one-time cashback of 10% on your first grocery purchase made using the card, up to ₹100.
These rewards are an excellent way to kickstart your journey with RBL’s ShopRite Credit Card, allowing you to experience immediate savings on your everyday needs.
2. Reward Points on Daily Expenses
One of the standout features of this card is its reward points system. RBL ensures that every rupee you spend on essentials works towards future savings. Here’s how the rewards break down:
- 20 reward points for every ₹100 spent on grocery purchases.
- 10 reward points for every ₹100 spent on fuel, utility bill payments, and other select categories.
- Earn 5 reward points for every ₹100 spent on non-essential categories such as dining, entertainment, and shopping.
Reward points can be easily redeemed against a wide range of offers, allowing you to maximize the value of your everyday expenses. This comprehensive reward structure ensures that frequent shoppers receive meaningful returns on their purchases.
3. Annual Fee and Renewal Fee
The RBL Bank ShopRite Credit Card has a reasonable fee structure:
- Annual Fee: ₹500 plus applicable taxes.
- Renewal Fee: ₹500 plus applicable taxes from the second year onwards.
However, RBL Bank rewards responsible card usage, as the annual fee is waived off when you spend ₹1 lakh or more annually on your card.
4. Fuel Surcharge Waiver
For those who frequently drive and refuel their vehicles, the RBL Bank ShopRite Credit Card offers a fuel surcharge waiver of 1% on all fuel transactions across petrol pumps in India. This waiver is applicable on transactions between ₹500 to ₹4,000 and can save you significantly over time.
5. Zero Liability on Lost Card
Losing a credit card can be stressful, but with the RBL Bank ShopRite Credit Card, you are protected under the zero liability policy for any fraudulent transactions made after reporting your card as lost. This feature offers peace of mind, knowing that you’re protected from unauthorized charges.
6. Contactless Payments
The card supports contactless payment technology, enabling users to make fast and secure transactions without swiping or inserting the card. This technology is a step forward in convenience and security, particularly for those making frequent purchases in busy environments.
7. Easy EMI Conversion
The RBL Bank ShopRite Credit Card offers flexibility in payment by allowing you to convert large purchases into easy EMIs. This feature is particularly beneficial when making big-ticket purchases, as it enables you to spread the cost over several months at attractive interest rates.
Detailed Breakdown of Benefits
Grocery Shopping
The primary benefit of the RBL Bank ShopRite Credit Card lies in its focus on grocery shopping. By offering 20 reward points for every ₹100 spent, the card ensures that regular purchases at grocery stores lead to significant savings. For a household that spends ₹10,000 monthly on groceries, this translates to 2,000 reward points per month. Over a year, these points accumulate and can be redeemed for a wide range of products, vouchers, or even used to pay off the outstanding card balance.
Fuel Benefits
The fuel surcharge waiver and reward points on fuel purchases make this card an excellent choice for daily commuters. With 10 reward points for every ₹100 spent on fuel and a surcharge waiver, the savings on refueling are maximized, ensuring you get the most out of every rupee spent on petrol or diesel.
Utility Bill Payments
Paying utility bills such as electricity, water, and gas is an unavoidable expense. With the RBL Bank ShopRite Credit Card, you can make these necessary payments while earning reward points. This card offers 10 reward points for every ₹100 spent on utility payments, meaning that even your recurring expenses work towards your benefit.
Dining and Entertainment
While the primary focus of this card is on groceries, fuel, and utility payments, the RBL Bank ShopRite Credit Card also provides moderate rewards for dining and entertainment expenses. Cardholders earn 5 reward points for every ₹100 spent in these categories, making it a versatile choice for individuals who seek value across a broad range of everyday spending.
Eligibility Criteria
To apply for the RBL Bank ShopRite Credit Card, applicants must meet the following eligibility criteria:
- Age: The primary cardholder should be between 21 and 60 years of age.
- Income: A stable monthly income is required, with specific income thresholds varying based on geographic location and employer status.
- Credit Score: A good credit score is essential for approval. Applicants with a score of 750 or above are more likely to be approved.
How to Apply for RBL Bank ShopRite Credit Card
Applying for the RBL Bank ShopRite Credit Card is a simple and straightforward process. You can apply online by following these steps:
- Visit the RBL Bank website and navigate to the credit card section.
- Choose the ShopRite Credit Card from the available options.
- Fill out the application form with accurate personal, financial, and contact details.
- Submit the form and wait for the bank’s representative to contact you for document verification and further steps.
Alternatively, you can also apply for the card by visiting an RBL Bank branch.
Fees and Charges
While the annual fee and renewal fee are both set at ₹500 plus taxes, the card’s benefits can easily outweigh these costs. Cardholders who spend ₹1 lakh or more in a year are eligible for an annual fee waiver. Other charges include:
- Late Payment Fee: Ranges from ₹100 to ₹1,300, depending on the outstanding balance.
- Cash Advance Fee: 2.5% of the cash amount withdrawn, with a minimum of ₹500.
- Over-limit Fee: 2.5% of the over-limit amount, subject to a minimum of ₹500.
Conclusion
The RBL Bank ShopRite Credit Card is an excellent financial tool for individuals who prioritize savings on groceries, fuel, and utility bill payments. With a robust rewards program, flexible EMI options, and additional benefits like zero liability on lost cards, this credit card offers tremendous value. Whether you’re a frequent grocery shopper or someone looking for a versatile card with comprehensive benefits, the RBL Bank ShopRite Credit Card is a worthy contender.
For those seeking to maximize their savings on everyday purchases, this card delivers consistent value through its reward points, surcharge waivers, and exclusive offers, making it an ideal choice for the modern consumer.