BOBCARD has launched a new credit card for small business owners called the Micro Enterprise Credit Card. The card offers basic features for those looking for a simple business credit card. It comes with a reasonable joining and annual fee of ₹500 + GST and offers a low interest rate of 1.5% per month, which translates to 18% annually. This is significantly lower than many regular credit cards that can charge interest rates of up to 45% per year.
This credit card is mainly designed for everyday business and lifestyle spends, offering value through rewards and flexible redemption options. Cardholders can earn 1 Reward Point for every ₹100 spent, excluding select categories and fuel transactions. The card also comes with a 1% fuel surcharge waiver on fuel spends between ₹400 and ₹5,000, capped at ₹250 per statement cycle. Reward Points can be redeemed for cashback at a value of ₹0.25 per point or through Pay with Rewards at ₹0.15 per point.
Eligibility for Micro Enterprise Credit Card
To apply for the BOBCARD Micro Enterprise Credit Card, applicants must be registered as a Micro Enterprise on the Government of India’s JanSamarth portal. The applicant should be an Indian resident and between 21 and 65 years of age. Additionally, applicants will need to submit documents such as KYC details of both the applicant and the firm, GST and Udyam registration numbers, recent GST returns, ITR documents, and current account statements as part of the application process.
Bottom Line
The BOBCARD Micro Enterprise Credit Card is a basic business-focused credit card aimed at small business owners looking for lower interest rates and simple rewards. While the card does not offer premium lifestyle benefits, it can be a decent option for managing everyday business expenses with its 18% annual interest rate, fuel surcharge waiver, and flexible reward redemption options.