BoB Financial is one of the major card issuers in the country and offers several credit cards in different categories. The card issuer has recently come up with an important update related to its credit card rewards structure and a few fees & charges. The Bank of Baroda has specified some special categories on which the cardholders will earn 50% Reward Points, i.e, the Reward rate on these categories will be 50% of the regular reward rate. These new Reward rates and terms & conditions will be effective from November 15, 2022. For more detailed information regarding this, keep reading the article:
Updated Rewards Structure of BoB Credit Cards
BoB Financial, the card issuing company under Bank of Baroda, has recently announced some changes in its credit card reward rates. The card issuer has specified a few MCCs where the reward rate would be 50% of the core reward rate of a particular card. For example, if a BoB Credit Card offers 2 Reward Points on every spend of Rs. 100, the reward rate on special MCCs would be 50% of it, i.e. 1 Reward Point on every spend of Rs. 100. The special categories include fast food restaurants, Insurance, Utility, government transactions, etc. You can find the detailed list of special MCCs here. Moreover, the reward rate on the Prime Credit Card has been reduced and there are a few other changes in the reward structures of different BoB Credit Cards, which are mentioned below:
- BoB Easy Credit Card: The accelerated reward Points, i.e. 5x Rewards will now only be offered in two categories, including movies and departmental stores. Earlier, spends made on grocery purchases were also eligible for the accelerated Reward Points, but the category has been removed now. The accelerated Reward Points are capped at 1,000 points per statement cycle.
- BoB Select Credit Card: The accelerated Reward Points will now only be earned on dining and online spends. Earlier, utility bill payments were also eligible for 5x Rewards, but the cardholders will no more earn accelerated rewards on the utility category as it has been included in the special MCCs. Moreover, the monetary value of 1 Reward Point = Re. 0.20 now (which was Re. 0.25 earlier) for the Select Credit Card.
To get complete information about bob select credit cards clicks here.
- Prime Credit Card: The regular Reward Rate on the BoB Prime Credit Card has been updated. Earlier, Prime cardholders used to earn 4 reward Points on every spend of Rs. 100, but they will now earn only 2 RPs on every spend of Rs. 100. Moreover, the Reward redemption rate has been reduced, i.e, 1 Reward point = Re. 0.20 (which was Re. 0.25 earlier).
The following table will help you understand the updated reward structure of BoB Credit Cards more clearly:
|Credit Card||Regular Reward Rate||Reward Rate on special MCCs||Categories eligible for accelerated Rewards||Monetary Value of Reward Points|
|BoB Easy Credit Card||1 RP on every Rs. 100 you spend||0.5 RP on every rs. 100 you spend||Movie Ticket Purchases & Departmental Store Spends||1 RP = Re. 0.25|
|BoB Select Credit Card||1 RP on every Rs. 100 you spend||0.5 RP on every rs. 100 you spend||Dining and Online Spends||1 RP = Re. 0.20|
|BoB Premier Credit Card||2 RP on every Rs. 100 you spend||1 RP on every Rs. 100 you spend||Travel, dining, and International spends||1 RP = Re. 0.25|
|BoB Prime Credit Card||2 RP on every Rs. 100 you spend||1 RP on every Rs. 100 you spend||NA||1 RP = Re. 0.20|
|BoB Eterna Credit Card||3 RP on every Rs. 100 you spend||1.5 RP on every Rs. 100 you spend||Travel, dining, shopping, and online purchases||1 RP = Re. 0.25|
|BoB Swavlamban Credit Card||4 RP on every Rs. 100 you spend||2 RP on every Rs. 100 you spend||NA||1 RP = Re. 0.25|
|BoB ConQR Credit Card||1 RP on every Rs. 100 you spend||0.5 RP on every Rs. 100 you spend||Dining and Online purchases||1 RP = Re. 0.25|
BoB Business Credit Card,
BoB Corporate Credit Card
|1 RP on every Rs. 100 you spend||0.5 RP on every Rs. 100 you spend||NA||1 RP = Re. 0.25|
It should be noted that no Reward Points are earned on fuel transactions using the BoB Credit Cards. Moreover, any of the special MCCs will not be eligible for the accelerated reward rates on the above-mentioned credit cards.
For more details, you can check this page.
The recent changes announced by BoB Financial might disappoint a few cardholders, especially the Prime Credit Cardholders as even the regular reward rate on the Prime Card has been reduced. But, the Prime Card still remains rewarding as it is lifetime free. If you have any further doubts regarding the above-mentioned information, you can freely ask us in the comment section below!