2020: RuPay Credit Card: Features, Benefits & Comparison
Features of RuPay credit card:There would be four versions:
- Select (Super premium category)
- Platinum (Premium category)
- Classic (This will have low credit limit compared to the other three types)
Differences & Similarities between Visa/Mastercard/Amex enabled credit cards:There are lots of differences between RuPay & others credit cards available in the market as follows:
- Transaction cost would be lower in case of RuPay credit card compared to the ones offered by various Indian and foreign banks.
- There is no joining fee in case of RuPay. Whereas cards offered by various banks mostly have joining fee.
- There are very limited offers on RuPay card compared to normal ones.
- RuPay card offers insurance cover which is not available in most of the other cards.
- Visa, Mastercard & Amex cards have larger acceptance locally as well as globally compared to RuPay.
- Currently RuPay has low penetration compared to foreign entities.
- RuPay payment gateway would be used for RuPay. Other cards mostly use their own gateways.
Which banks in India currently offer RuPay credit card:As on August 2017, the card is currently offered by following banks in India. To get this card, you will have to request the bank. Public sector:
- Andhra Bank
- Canara Bank
- Corporation Bank
- Central Bank
- Punjab National Bank
- Union Bank
- Vijaya Bank
- Punjab and Maharashtra Co-operative Bank
- HDFC Bank
Benefits of Union Bank RuPay card:Union Bank of India is first bank in India to launch RuPay credit card. The card offers many benefits as follows:
- It can be personalized
- It is Aadhaar enabled
- Offers life and permanent disability insurance
- Lounge access
- Fuel surcharge waiver
- Cash back offer on making utility bill payment, IRCTC train ticket booking, and mobile wallet.
- Airline vouchers for top transacting customers
This article has been written by Chandra Mehta.
Chandra is a seasoned banker with 35+ years of experience in banking and financial services industry. He’s a retired banker and has served as Chief Manager and Assistant Vice President in State Bank of India/or its subsidiaries.
He has authored many articles on this site (allonmoney.com).