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RBL Bank vCard (your Credit Card balance used for UPI payment)

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abhishek012

RBL Bank vCard (your Credit Card balance used for UPI payment) -

RBL Bank vCard is a unique product which enables you to make merchant payments and manage your Credit Card through vCard Mobile App.

45 day interest free limit up to Rs.5,00,000 depending on your credit score

Entire available balance can be used using UPI however there is a limit of 10% of available balance per day that can be used for UPI transactions and its essential that available balance has to be above 25%.

https://cdn0.desidime.com/attachments/photos/626439/medium/67988459jLk78R.jpg?1595422544

Fees:

RBL Bank vCard comes free for the first year
2nd year onwards: Annual Fee of Rs. 500/- + GST (Annual Fee 2nd year onwards is waived off if spends are more than Rs. 1 lac in the previous year.)

Rewards Program:

1,000 bonus Rewards Points on spends of Rs. 10,000 or more within 60 days of Card setup
Earn 1 Reward point on every Rs. 100 you spend

RBL Bank vCard website - https://www.rblbank.com/product/credit-cards/rb...

official website - https://www.vca...i/

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Pro Shopping Friend Pro Shopping Friend
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There must be some catch, who allows credit transfer for free! Great card if no hidden charges.

Deal Lieutenant Deal Lieutenant
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Read for more info
vcard.ai/faqs.html

Deal Subedar Deal Subedar
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caks2006407 wrote:

There must be some catch, who allows credit transfer for free! Great card if no hidden charges.

This is what I found in their website:

Entire available balance can be used using UPI however there is a limit of 10% of available balance per day that can be used for UPI transactions and its essential that available balance has to be above 25%

Annual fee of Rs500 + GST 18% is waived off for the first year.

From second year onwards Annual fee will be waived off if the Annual spend is > 1lakh

Deal Lieutenant Deal Lieutenant
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What is vCard?

vCard Mobile Credit Card with UPI is an app-based personal credit line, offered in partnership with banks. The app lets you borrow any amount as per your requirement, ranging from Rs.3000 to Rs.5 lakhs, relying on your credit limit that is set by our banking partners.
The app charges interest only the amount you use.

How can I convert my credit to in-hand cash? How?

Yes. It is simple!
You can transfer your credit balance form the app to your bank account, withdraw from ATM and get in-hand cash. You can also transfer funds through NEFT/IMPS.

How much interest will I have to pay?

You have to pay interest only on the amount you use. During withdrawal, you can select the terms of repayment (Minimum: 2 months and Maximum: 3 years). Number of installments and the installment for EMI depends on the EMI tenure you opt.

The interest rate is same as the interest rates for any ‘personal loan’ with zero collateral or security. The interest you have to pay could be as low as 1.25% per month, it depends on your credit profile and the partner bank.

It seems just another gimmick..Nothing else..

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DealFinder wrote:
What is vCard?

vCard Mobile Credit Card with UPI is an app-based personal credit line, offered in partnership with banks. The app lets you borrow any amount as per your requirement, ranging from Rs.3000 to Rs.5 lakhs, relying on your credit limit that is set by our banking partners.
The app charges interest only the amount you use.

How can I convert my credit to in-hand cash? How?

Yes. It is simple!
You can transfer your credit balance form the app to your bank account, withdraw from ATM and get in-hand cash. You can also transfer funds through NEFT/IMPS.

How much interest will I have to pay?

You have to pay interest only on the amount you use. During withdrawal, you can select the terms of repayment (Minimum: 2 months and Maximum: 3 years). Number of installments and the installment for EMI depends on the EMI tenure you opt.

The interest rate is same as the interest rates for any ‘personal loan’ with zero collateral or security. The interest you have to pay could be as low as 1.25% per month, it depends on your credit profile and the partner bank.

It seems just another gimmick..Nothing else..

Any spending through the card or the app are free provided you pay the amount back as per the monthly billing cycle.

so, you can use UPI payment through vcard app & repay the amount back as per the monthly billing cycle.

Critic Critic
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abhishek012 wrote:

Any spending through the card or the app are free provided you pay the amount back as per the monthly billing cycle.

so, you can use UPI payment through vcard app & repay the amount back as per the monthly billing cycle.

That is fine but what’s the advantage of this extra hassle when there are debit/credit cards available with same fee/free & offering same/better reward points for doing card transactions in stores. confused

Deal Subedar Deal Subedar
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For every *withdrawal or transfer transaction, they charge you 2.5%,  flat upfront.

Indicates, they may probably charge the 2.5% for upi Transaction as well.

https://cdn0.desidime.com/attachments/photos/626511/medium/Screenshot_20200723_004516_com.android.chrome.jpg?1595445489

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dev007 wrote:

For every *withdrawal or transfer transaction, they charge you 2.5%,  flat upfront.

Indicates, they may probably charge the 2.5% for upi Transaction as well.

https://cdn0.desidime.com/attachments/photos/626511/medium/Screenshot_20200723_004516_com.android.chrome.jpg?1595445489

No, Any spending through the card or the app are free provided you pay the amount back as per the monthly billing cycle.

so, you can use UPI payment through vcard app & repay the amount back as per the monthly billing cycle.

Deal Cadet Deal Cadet
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Again not a direct product of RBL Bank
it is like a third party
Money Tap
Bajaj card

Pro Blogger Pro Blogger
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Another app -

MoneyTap RBL credit card app now also launch Credit on UPI (cUPI) feature

Credit on UPI (cUPI) is a feature that allows customers to use their MoneyTap Credit Line to pay for online & offline transactions seamlessly via UPI. Customers can create a UPI handle on the MoneyTap app and link it to their MoneyTap account to transact directly from their approved credit line.

This feature uses SMS services to verify accounts for financial transactions through OTP.

https://play.google.com/store/apps/details?id=c...

Deal Newbie Deal Newbie
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very good deal grinning

Deal Cadet Deal Cadet
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https://cdn0.desidime.com/attachments/photos/754834/medium/vCard_infographic.jpg?1648339974Interest of 0.115% perday for UPI spends

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