One Card Credit Card Review – Apply, Features, Eligibility

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One Card Credit Card Introduction: Embarking on your financial journey with no credit history can often feel like taking those first uncertain steps into the unknown. It’s a pivotal phase where you’re eager to establish a strong credit foundation but finding a card tailored to beginners can be a daunting task. That’s where OneCard steps in as your trusted companion.

In this article, we’re thrilled to introduce you to OneCard, the credit card designed with beginners in mind. If you’re new to the world of credit or working on building your credit history, OneCard offers an ideal starting point. It’s more than just a card; it’s a bridge to financial empowerment, offering simplicity, transparency, and a host of benefits to help you pave the way to a solid financial future.

Table of Content

OneCard Credit Card Overview

DetailsInformation
Card TypeMetal Card
Issuing Banks/Financial InstitutionsSBM Bank, South Indian Bank, Federal Bank, BOB Financial, CSB Bank
Lifetime-Free CardNo joining or annual fees
Mobile AppPowerful OneCard mobile app
International ValidityVisa Signature card
Contactless PaymentTap to pay for transactions (up to Rs. 5,000)
Rewards Program5X rewards on top 2 spend categories
Instant Points IssuancePoints Are credited instantly and never expire
Reward RedemptionNo redemption fees or minimum threshold
Fractional PointsNo rounding off, earn fractional points
OneCard EMIShop in parts, repay with reward points, EMI dashboard
MyFamilyShare limit with family, separate co-branded cards
Customer Care Number1-800-123-1110
Eligibility– Minimum age: 18 years – Salaried and self-employed individuals – Stable income source – CIBIL score of 750 or higher – Valid proof of identity, address, and income
Charges and Fees– Joining Fee: NIL – Renewal Fee: NIL – Reward Points Redemption Fee: NIL – Finance Charges: 2.5% to 3.5% per month or 30% to 42% per annum – Late Payment Fee: 2.5% of the amount due (Max. Rs. 1,000) – Foreign Markup Fee: 1% – ATM Withdrawal Charges: 2.5% of the withdrawn amount (Min. Rs. 300)
Additional Offers– Discounts and offers with partner merchants (e.g., HealthifyMe, TATA 1MG, MakeMyTrip)

What is OneCard Credit Card?

OneCard is a unique and innovative credit card designed to cater to the evolving needs of the digital generation. It is a metal card offered through partnerships with leading financial institutions, including SBM Bank, South Indian Bank, Federal Bank, BOB Financial, and CSB Bank.

OneCard Credit Card Benefits

The One Card offers a range of benefits that cater to the diverse financial needs of its users. Here are some of the standout advantages of the OneCard card:

  1. Lifetime-Free Credit Card: OneCard doesn’t burden its users with joining or annual fees, making it a cost-effective choice for managing your finances.
  2. Metal Card Luxury: As a metal credit card, OneCard offers a premium feel that sets it apart from traditional plastic cards. Why settle for anything less when you can enjoy the luxury of a metal card?
  3. Powerful Mobile App: Take control of your credit card with the OneCard mobile app. You can manage your transaction limits, set preferences for domestic and international use, control online and offline payments, and make contactless payments, all from the convenience of your smartphone.
  4. 5X Rewards on Top Spending Categories: OneCard understands the value of rewards. With this card, you can earn 5X rewards on your top two spend categories every month. The best part? Points are credited instantly and never expire, making it easier for you to redeem and enjoy your rewards.
  5. OneCard EMI: Shop now, pay later with OneCard EMI. No need for lengthy phone calls or endless emails for documentation. You can also repay EMIs with your reward points, giving you more flexibility in managing your finances. Keep track of your EMIs from the EMI Dashboard on the app.
  6. MyFamily: Share the spending limit with your family. They get their own co-branded OneCard, complete with separate offers, while you maintain control and oversight of their spending. It’s a win-win for family finances.

OneCard Against FD

This option allows individuals to obtain a secured credit card by creating a fixed deposit (FD) as collateral. Here’s a summary of the key points:

  • It’s a secured credit card, meaning it requires an FD as collateral.
  • You create an FD in the OneCard app, with amounts ranging from 2,000 Rupees to 1 Lac.
  • Your FD serves as a refundable security deposit backing your credit card and earns a competitive interest rate of 6.5% per annum.
  • Your credit limit will be 100% of your FD amount.
  • You can create additional FDs as needed, and when your cumulative FDs reach 50k or more, you’ll receive the metal card.
  • There are no additional fees beyond the interest rate on the FD.
  • This option is suitable for those who do not have a credit score or have a low credit score.

One Card Credit Card Eligibility

OneCard keeps its eligibility criteria straightforward to ensure that a wide range of users, including those who are new to credit, can benefit from their offerings. Here are the common eligibility requirements:

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  • Age: Applicants should be a minimum of 18 years old to apply for a OneCard credit card.
  • Occupation: OneCard is inclusive, catering to both salaried and self-employed individuals. Whether you have a regular job or run your own business, you can apply for a OneCard credit card.
  • Stable Source of Income: To qualify for a OneCard credit card, it’s essential to have a stable source of income. This ensures that you can meet your financial obligations.
  • CIBIL Score: A good credit history is crucial. OneCard typically requires a CIBIL score of 750 or higher, indicating responsible credit management.
  • Documentation: As with any financial product, you’ll need to provide standard documentation, including proof of identity, address, and income, to support your application.

Charges and Fees for One Card Credit Card

While OneCard offers many benefits at no cost, it’s essential to be aware of potential charges and fees. Here’s a breakdown of the charges and fees applicable to OneCard credit cards:

Fee TypeAmount
Joining FeeNIL (No joining fee)
Renewal FeeNIL (No annual fee)
Reward Points Redemption FeeNIL (No fees for redeeming points)
Finance Charges2.5% to 3.5% per month or 30% to 42% per annum
Late Payment Fee2.5% of the amount due, with a maximum of Rs. 1,000
Foreign Markup Fee1%
ATM Withdrawal Charges2.5% of the withdrawn amount, with a minimum of Rs. 300

OneCard Credit Card Customer Care Number and email

If you ever have questions, or concerns, or need assistance with your OneCard, their customer care team is just a call away. You can reach OneCard customer care at:

  • Customer Care Number: 1-800-123-1110

As for their email, you can reach out to them at [email protected] for any email correspondence and assistance.

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FAQs

What is OneCard, and how is it different from other credit cards?

OneCard is a unique credit card designed to cater to the evolving needs of the digital generation. It stands out with its metal card luxury and powerful mobile app. Unlike many traditional credit cards, OneCard offers a lifetime-free card with no joining or annual fees. Its 5X rewards, instant points issuance, and fractional points set it apart from the rest.

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Who is eligible for a OneCard?

OneCard aims to be inclusive, making it suitable for beginners and those new to credit. To be eligible, you should be at least 18 years old, whether you’re a salaried employee or self-employed. A stable source of income and a good CIBIL score (typically 750 or higher) are essential. You’ll also need standard documentation, including proof of identity, address, and income.

How can I apply for a OneCard?

Applying for a OneCard is a straightforward process. You can download the OneCard app from the Play Store or App Store. The entire application typically takes less than five minutes. OneCard membership is available in various cities, with new locations continuously being added.

Can I use a OneCard for international transactions?

Yes, OneCard is an internationally valid Visa Signature credit card. You can use it for international transactions and while traveling abroad. With a 1% foreign markup fee, it offers a cost-effective way to manage your finances globally. Additionally, it’s a contactless card, allowing you to tap and pay for transactions up to Rs. 5,000 without a PIN, making it a convenient option for both domestic and international use.

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