BoB EXCLUSIVE Credit Card for ICAI Member

By | October 2, 2020
BoB EXCLUSIVE Credit Card for ICAI Member

BoB EXCLUSIVE Credit Card for ICAI Member is made exclusively for chartered accountants. Bank of Baroda is increasing customer base by issuing Credit to specific group like ICAI members and ICMA members. This credit card provides 1% Default rewards on all expenses with Additional accelerated and Milestone benefits. Here is the all details.

Joining and Annual Fees

  • Joining Fees: NIL
  • Renewal Fees: NIL

BoB EXCLUSIVE Credit Card for ICAI Member Joining and Renewal Fees is totally free. There are no Joining and Annual Fees. Its a Lifetime Free.

Welcome Benefits

  • Complimentary 6 Months FITPASS PRO with Rs. 15,000/-

BoB Exclusive Credit Card for ICAI Members Rewards program.

BoB EXCLUSIVE Credit Card for ICAI Member rewards benefits can be summarised as Regular Rewards, Accelerated rewards, and Milestone Rewards.

Regular Rewards

  • Rewards:1 rewards points for every Rs. 100 spent (1%)
  • Rewards Points Value: 1 reward points are equal to o.25ps
  • Default Rewards rate: 1%

Almost all basic credit provides a 1% default reward rate. Like Entry-level credit card CitiBank Paytm First Credit Card and Amazon Pay ICICI Bank Credit card

Accelerated Rewards

  • 5 Rewards points for every Rs. 100 spent on dining, online, and utility bills.
  • 1000 Bonus rewards points on 5 transaction Rs. 1000 or more each month.

BoB credit card also gives rewards points on the Utility bill spends @ 1.25%. Normally all credit card issuer avoid giving rewards points on utility bills. 1000 rewards points on 5 transaction Rs. 1000 or more each month gives a 5% rewards rate, which is an exception.

Milestone Rewards

  • Transaction Bonus: Swipe your credit card within 30 Days of Issuance and Get 1000 rewards points with Rs. 250
  • Bonus Rewards Points: Get 4,000 reward points every quarter, on spending more than your card’s credit limit.

The concept that you spend should exceed your credit limit within a quarter to qualify for Bonus rewards points is unique. Let assume your credit card limit is Rs. 1,00,000/-, and then you should be spending at Rs. 1,00,000/- within three months qualify for Bonus rewards points of 4000. Bonus rewards points accelerate the regular rewards points by 1% so that the total rewards rate would be 2% on your credit card.

Lounge Access benefits

  • 3 Complimentary Domestic airport Lounge access benefits Per Quarter
  • Lounge Access benefits are available on MasterCard Network.
  • Foreign Currency Mark Up is only 2%
  • Visit BOB Financial website for List of Available Domestic Airport where Lounge benefits are available.

This credit card do not have Joining and Annual Fees. Normally credit card which do not charges Fees, do not provide lounge access benefits.

Complimentary Insurance

BoB Exclusive Credit Card for ICAI Member credit card is exclusively made credit card for chartered accountants, so it also offers Professional Indemnity Insurance which not available for a normal credit card.

  • Professional Indemnity Insurance Cover of Rs. 5 Lakh
  • Air accident death cover of Rs.15 Lakhs
  • Non-air accident death cover of Rs. 5 Lakhs
  • Insurance cover only available to the Primary Cardholder.
  • No, Documents are provided for Insurance.
  • In the case of No use of credit card. The insurance facility will be withdrawn

Pros and Cons BoB Exclusive Credit Card for ICAI Member

Pros

  • NO Joining and Renewal Fees
  • Default Rewards Rate 1%
  • Free 3 Per Quarter Lounge access benefits
  • Milestone and accelerated rewards points
  • Rewards points on Utility Bill also.
  • Special Professional Indemnity Insurance Cover of Rs. 5 Lakh

Cons

  • No International Lounge access.

Eligibility Criteria and Documents required

Eligibility

  • You should be active members of ICAI
  • Add on cardholder should be above 18 years.
  • You should be resident of India.

Documents

  • ID Proof– PAN Card Photocopy
  • Professional Proof– Photocopy of ICAI Membership Card
  • Address Proof– Voter ID Card, Aadhar Card, Copy of Passport etc..
  • One Photograph
  • Income Proof : Latest Salary Slip/latest ITR, Or Copy of other Credit card.

Bottomline

BoB EXCLUSIVE Credit Card for ICAI Member is made exclusively for chartered accountants. You should be members of ICAI for getting this credit card.The Default rewards rate 1 %, when we add Milestone and accelerated rewards rate, the total rewards rate exceed 2%. Its very good credit card if you consider Joining and Renewal Fees.

I think you should have this credit card in your wallets. Its Lifetime Free credit card.

What’s your take on this credit card ?… Please share share in comments Box below.

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Author: Dhiraj Jha

I love to acquire, review, and earn reward points/cashback from Credit Cards for free traveling and enjoying luxury hotels. Helping people about the benefits and optimal utilization of credit cards.

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