What is a credit card?
A credit card is a plastic card that makes payments convenient. With it, you have the option of making purchases or withdrawing cash when you want, and repaying the amount over a period of time.
What are the benefit of owning a credit card?
There are many benefits of owning a credit card, the most important being:
- Buy Now and pay later concept.
- Ability to buy needed items now.
- Don't have to carry cash.
- Plastic cards are easy to carry and convenient to handle.
- Creates a record of purchases made.
- More convenient than writing checks and making drafts.
- Consolidates bills into one payment.
- Revolving credit limit without any charge for a limited period.
- Accidental insurance coverage of the cardholder.
- Zero loss card liability after it is reported to bank.
- Reward points on the usage of cards.
- Add-on card for offering the credit cards to your near and dear.
- 24 hour cash through ATM.
- Facility to transact in more than one currency.
What is a Master card or a Visa card?
MasterCard and VISA are both international payment systems who franchise member banks to issue cards with their brand name and provide settlement service for card payments to their franchisees globally.
What are the credit cards that Bobcards offers?
Bobcard Ltd. offers a wide range of Credit Card namely:
- Bobcard Signature
- Bobcard Platinum Master
- Bobcard Platinum Visa
- Bobcard Assure
- Bobcard Titanium
- Bobcard Corporate Premium
What are the eligibility criteria for owning a Bobcards?
The eligibility varies from the type of card you applied for. In general the basic eligibility includes
- Income criteria:
Individual - 2,00,000 p.a. (Gross) and above.
Company/Firm (Paid up capital) - 25 lakhs & above
- If card is applied on Company/Firm a/c.:- Last three years audited balance sheet, Profit & loss a/c., Board resolution.
- If card is applied on personal a/c.:- Latest Form 16 or ITR copy.
- Photograph of applicant/s and address proof.
For more details of the eligibility criteria concerning different types of cards, you can referCredit Card Section.
What is the Service charges applied on Bobcards?
The service charge is the interest applied on the outstanding balance of credit card bill. The service charge varies from the type of Bobcard you choose. The minimum rate includes;
- Service Charge on ATM Cash withdrawal :
- 2.5% or min. 200 (WIH) (Domestic) on Bobcard Titanium, Platinum Visa, Platinum Master & Assure.
- 3% or min.200 (WIH) (Domestic) on Bobcard Signature & Corporate Premium.
- 3% or min.250 (WIH) (Abroad) on Bobcard Titanium, Platinum Visa, Platinum Master & Assure.
- 3.5% or min.250 (WIH) (Abroad) on Bobcard Signature & Corporate Premium.
- Revolving credit Service Charges :
- 2.5% pm.(APR 30%) on Bobcard Titanium
- 1.6% pm.(APR 19.2%) on Bobcard Assue
- 2.6% pm.(APR 31.2%) on Bobcard Platinum Visa, Platinum Master, Signature, Coporate Premium
For more details kindly refer the "Our Cards" section.
Can I get a Bobcard even if I am not a taxpayer?
Yes, BOBCARDS Ltd. is currently offering Credit Card to both Individuals and Corporate who satisfy eligibility criteria. However copy of the PAN card is mandatory in case of Indian nationals and copy ITR is considered to be the proof of income for professional
and self employed and Form 16/ITR return for salaried class.
What should I do if my card is lost or damaged?
Immediately inform our nearest branch office. They will immediately freeze payments on your current card and a new card will be delivered to you within 7 days. You can also call our 24 hours customer care number 1800-225-100. You will also be required to
report the loss to nearest police station and inform the bank in writing along with a copy of FIR duly acknowledged by Police. For details of address, kindly refer the"Contact Us" or"Our Network" section.
In case, your card is damaged or it is not working on the card acceptance terminal, you are requested to return the same to us on any of the address provided in this site. The damaged card will be replaced with a new one and will be sent to your address.
When will the customer get replacement card in lieu of lost one?
Replacement card will be issued to the customer after receipt of lost information and a request of issuing of replacement card. The replacement card will be issued against payment of
100/- and will be debited to customer's account.
What is a Credit Limit?
Credit limit is the maximum amount you could spend / borrow using your credit card. This limit is determined by various personal details like your income, source of income etc. The credit limit is normally revised upwards or downwards based on your previous
year's track record in terms of spending and repayment.
Does the add-on card have a separate credit limit?
No, the add-on card member shares the same credit limit as assigned to the primary card member.
What is a PIN?
PIN is a four digit Personal Identification Number, which is issued to the customer in a closed jacket and is delivered to him separately. PIN should not be revealed to any one including any staff of the card issuer.
Cardholder are requested to register his / her Credit Card by setting a static password for online transactions, the same may be done by visitinglink available on website. The registered password shall
be used as an additional factor of authentication for online transactions. The cardholder need to enter this password whenever asked for while using his card online. This process needs to be carried every time you receive a new, replaced or renewed card.
One time registration on our web portal enable the cardholder to access his Credit Card account information and place various service requests and complaints, pay Bobcard bill online etc. This registration hold
good for entire life cycle of the Credit Card account hence no need to attempt registration even on receipt of a new, replaced or renewed card.
What are preventive measures to stop misuse of card?
Customer can take steps to stop misuse of card. Please refer our
Security Tips to know details.