BOBCARD update: 1000 reward points now required for redemption starting July 1
BOBCARD, the wholly-owned subsidiary of Bank of Baroda that offers a range of credit cards, has announced a slew of changes for its customers from July 1. While BOBCARD users can now earn core reward points for utility bill payments, they must accumulate a minimum of 1000 reward points for redemptions.
'Starting 1st July 2025, your utility bill payments (MCC 4900) like electricity, gas, water, etc., will now earn you core reward points,' BOBCARD said in its communication to customers. 'Effective 1st July 2025, reward point redemption against statement balance will require a minimum of 1000 points across all credit card variants,' it said.
The auto redemption of reward points on SNAPDEAL BOBCARD has been discontinued from July 1. 'Going forward, cardholders must initiate manual redemption via the BOBCARD Portal or Mobile App. These changes will also be reflected on the respective product pages at www.bobcard.co.in,' BOBCARD said.
BOBCARD has also revised the finance charges for most of its credit cards. 'The finance charge for all BOBCARD variants will be revised to 3.75% per month (45% annualized) - except for BOBCARD ETERNA, BOBCARD ETERNA FD, and BOBCARD TIARA,' it said.
Card Name Core Reward Rate Swavlamban 4 RP per ₹ 100 Select 1 RP per ₹ 100 Premire 2 RP per ₹ 100 Easy 1 RP per ₹ 100 Eterna 3 RP per ₹ 100 Tiara 3 RP per ₹ 100 Corporate 1 RP per ₹ 100 Empower Business Card 1 RP per ₹ 100 Prime 2 RP per ₹ 100 ICAI Exclusive 1 RP per ₹ 100 ICSI Diamond 1 RP per ₹ 100 ICMAI One 1 RP per ₹ 100 IRCTC 2 RP per ₹ 100 HPCL ENERGIE 2 RP per ₹ 150 Snapdeal 4 RP per ₹ 100 Varunah 1 RP per ₹ 100 Varunah Plus 2 RP per ₹ 100 Varunah Premium 3 RP per ₹ 100 Rakshamah 2 RP per ₹ 100 The Sentinel 2 RP per ₹ 100 Yoddha 2 RP per ₹ 100 Vikram 1 RP per ₹ 100 Renaissance 1 RP per ₹ 100 Pragati 1 RP per ₹ 100
Credit cards have been increasingly reducing benefits. In some cases, they have withdrawn them totally in a bid to curb wrong usage. Several leading card issuers had capped reward points for popular spending categories.
They have stipulated a higher spending threshold for availing certain services such as airport lounge access. Rent payments, government-related spending and education payments have been excluded from spend thresholds by many card issuing banks.
Allirajan M is a journalist with over two decades of experience. He has worked with several leading media organisations in the country and has been writing on mutual funds for nearly 16 years.
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