By Divya Shokeen
Updated On September 20, 2021

The Canara Bank RuPay Platinum credit card by Canara Bank is a basic credit card. The card comes with zero joining and renewal fees and is very much similar to the RuPay Select credit card in terms of reward rate and benefits. We have already covered the Select credit card in one of our earlier posts. The card offers you a reward rate of 0.5% and travel-related insurance benefits including a personal air accident cover worth Rs. 8 lacs. Read on to learn more about this entry-level offering by the Canara Bank.

Canara Bank RuPay Platinum Credit Card

Best Suited For

Shopping |

Joining Fee

NIL

Reward Type

Reward Points |

Product Details

  • The Canara Bank RuPay Platinum Credit Card comes with no joining and an annual fee.
  • 2 reward points on every Rs. 100 spent on this card.
  • Covers comprehensive travel insurance up to Rs. 8 lakhs.

Rewards and Benefits

Welcome Benefits

NA

Movie & Dining

NA

Rewards Rate

Earn 2 reward points on every Rs. 100 spent on this card including on e-commerce transactions.

Reward Redemption

Redeem your reward points for buying products or paying for a service. 1 RP = Rs. 0.25

Travel

You get complimentary lounge access.

Golf

NA

Domestic Lounge Access

NA

International Lounge Access

NA

Insurance Benefits

Covers air accident insurance for self and for spouse up to Rs. 8 lakhs and Rs. 4 lakhs respectively. Covers other air accident insurance for self and spouse up to 4 lakhs and 2 lakhs respectively. Covers baggage insurance of up to Rs. 25,000 and purchase protection up to Rs. 25,000.

Zero Liability Protection

Cardholder not liable post reporting loss of card.

Fees & Charges

Joining Fee

NIL

Renewal Fee

Nil

Spend based Waiver

NA

Rewards Redemption Fee

Nil

Rewards Redemption Fee

Nil

Foreign Currency Markup

3.5 % + taxes

Interest Rates

2.5% p.m.

Fuel Surcharge

1% fuel surcharge waiver

Cash Advance Charge

3% of the advance amount and is subject to a minimum of Rs. 30 per Rs. 1000.

Add-on Card Fee

Nil

Canara Bank RuPay Platinum Credit Card Rewards

  • Canara Bank RuPay Platinum Credit Card entitles you to earn 2 reward points on every Rs. 100 spent on this card including on e-commerce transactions.

Reward redemption:

  • You can redeem your collected reward points for purchasing goods and services, and for cashback.
  • For redeeming your reward points log in to www.canararewardz.com.
  • 1 reward point is equivalent to Rs. 0.25.
  • The minimum redeemable reward point limit for cashback is capped at 1000 reward points.
  • The minimum redeemable reward point limit for the purchase of goods and services is capped at 100 reward points.
  • The validity period for redeeming accumulated reward points is 3 years from the date of accrual.

Insurance benefits:

  • The Canara Bank covers air accident insurance up to Rs. 8 lakhs on Canara Bank RuPay Platinum Credit Card for the primary cardholder and Rs. 4 lakhs for the spouse.
  • It also covers other air accident insurance up to Rs. 4 lakhs for the primary cardholder and Rs. 2 lakhs for the spouse.
  • This card provides baggage insurance up to Rs. 25000 and purchase protection up to Rs. 25000 too.

Conclusion

As it is an entry-level card, it’d be unfair to expect premium benefits like complimentary rounds of golf or a Priority Pass membership, the 0.5% reward rate is fair enough, and certainly not something one can complain about. Additionally, you also get air travel-related benefits that most other entry-level cards do not offer. We’d suggest this card to anyone looking for a decent credit card to build a strong credit profile. You might consider it an unsecured alternative to the secured credit builder cards.

What do you think of this offering by Canara bank? Do let us know in the comments. And if you’re an existing cardholder, feel free to share your experience.

FAQs:

No, the Canara Bank RuPay Platinum Credit Card doesn’t provide any movie and dining benefits.

No, Canara Bank doesn’t provide golf benefits currently on Canara Bank RuPay Platinum Credit Card.

Canara Bank charges a 2.5% interest per month on Canara Bank RuPay Platinum Credit Card.

There is no joining and the annual fee on Canara Bank RuPay Platinum Credit Card.

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