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Canara Bank Visa Platinum Credit Card

The Canara Bank Visa Platinum Credit Card works on the trusted Visa network, which is known for its worldwide acceptance and safe transactions. This card is made for shoppers and travelers and offers various benefits to improve your spending experience.

This card comes with a number of features such as the opportunity to earn reward points; users can accumulate 2 Reward Points for every ₹100 spent on both Point of Sale and e-commerce transactions. These points can be redeemed easily for cashback or products, adding value to every purchase.

Cardholders enjoy complimentary access to domestic airport lounges twice each quarter and also offer insurance benefits, including air accident coverage and baggage protection. With no annual or joining fees, the Canara Bank Visa Platinum Credit Card stands out as an affordable option. It also provides a grace period of up to 50 days of interest-free credit, allowing for more easy financial planning. To learn more about the features this card offers, continue reading.

Canara Bank Visa Platinum Credit Card

( 4.2 / 5 )
Canara Bank Visa Platinum Credit Card
  • Joining FeeNil
  • Annual FeeNil
  • Best Suited ForShopping
  • Reward TypeReward Points

Rewards Rate

2 RP for every ₹100 spent on E-Commerce transactions

Welcome Benefits

N/A

Movie & Dining

N/A

Rewards Rate

2 RP for every ₹100 spent on E-Commerce transactions

Reward Redemption

Redeem RP for cashback and goods; 1 RP = ₹0.25

Travel

N/A

Domestic Lounge Access

2 complimentary lounge access every quarter

International Lounge Access

N/A

Golf

N/A

Insurance Benefits

Air accident coverage for self and spouse, baggage insurance, etc

  • Spend-Based Waiver

    N/A

    Rewards Redemption Fee

    N/A

    Foreign Currency Markup

    3%

    Interest Rates

    2.50% monthly or 30% annually

    Fuel Surcharge Waiver

    1% fuel surcharge of up to ₹100 on fuel transaction

    Cash Advance Charges

    3% of the advance, minimum ₹30 per ₹1,000

    • Complimentary airport lounge access is provided twice every quarter.
    • Fuel surcharge waiver of 1% on fuel transactions.
    • There is no spend-based waiver with this card.

    Pros

    • This card has no joining or renewal fee and is quite affordable for middle-class people.
    • Insurance coverage is provided to users for their peace of mind.

    Cons

    • The card offers no benefits other than airport lounge access and insurance benefits.

  • Reward Rate

    The Canara Bank Visa Platinum Credit Card helps you earn 2 Reward Points for every ₹100 spent on PoS and E-Commerce transactions.

    Reward Redemption

    To redeem the Reward Points earned, all you have to do is visit the CanaraRewardz website and claim them for cashback or goods. The value of 1 RP = ₹0.25.

    Airport Lounge Access

    With the Canara Bank Visa Platinum Credit Card, users get access to domestic airport lounges twice every quarter.

    Insurance Benefits

    • The card offers protection against fraudulent charges up to ₹5 lakh.
    • You can claim baggage insurance for losses or damages up to ₹25,000.
    • There’s purchase protection for items bought with the card, covering up to ₹25,000.
    • For air accidents, you get coverage of ₹8 lakhs for yourself and ₹4 lakhs for your spouse.
    • For accidents that are not in the air, you are covered for ₹4 lakhs for yourself and ₹2 lakhs for your spouse.

    Eligibility Criteria of the Canara Bank Visa Platinum Credit Card

    • You must be 21 years or older to apply and must be a resident of India.
    • You should have an independent income of at least ₹1 lakh gross per year.
    • If you are a staff member, your minimum net take-home salary should be at least ₹4,000 per month.
    • A decent credit history is required to qualify for the card.
    • You will need to provide the necessary documents to support your application, such as proof of identity and proof of income.

    Fees and Charges of the Canara Bank Visa Platinum Credit Card

    Categories Fees
    Annual Fee Nil
    Interest Rate 2.50% (monthly)
    Card Replacement Fee ₹300
    Card Inactivity Fee ₹200
    Forex Markup Fee 3%
    Free Credit Period 20-50 days

    Canara Bank Visa Platinum Credit Card Review

    The Canara Bank Visa Platinum Credit Card is an appealing choice for those seeking an affordable credit card with no joining or renewal fees. Its benefits, such as earning Reward Points and complimentary airport lounge access twice a quarter, make it attractive for frequent shoppers and travelers. The card also offers valuable insurance protections, which add to its appeal. If you value low fees and the specific benefits it offers, this card could be a good fit for you. Before applying for the Canara Bank Visa Platinum Credit Card, check your spending habits and needs.

    FAQs:

    Yes, cardholders receive complimentary access to domestic airport lounges twice every quarter.

    The card offers air accident coverage of ₹8 lakhs for the primary cardholder and ₹4 lakhs for the spouse, as well as baggage insurance and purchase protection.

    Yes, you should have an independent income of at least ₹1 lakh gross per year. If you’re a staff member, the minimum net take-home salary should be ₹4,000 per month.

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