OneCard Metal Credit Card

Best OneCard Credit Cards List

As mentioned earlier, OneCard offers credit cards in partnership with some of the popular banks/credit card issuers in India. Following is the list of best OneCard Credit Cards:

• Federal Bank OneCard Credit Card
• BOB OneCard Credit Card
• CSB OneCard Credit Card
• SBM OneCard Credit Card
• Indian Bank OneCard Credit Card
• South Indian Bank OneCard Credit Card

Earlier, the One Card was also issued in association with IDFC Bank. The partnership has since been terminated. 

One Card Credit Card Rewards

• You earn 1 Reward Point/Rs. 50 spent with your One Card Credit Card.
• You can also earn fractional Reward Points on One Card. For example, if you spend Rs. 175, you will earn 3 Reward Points against Rs. 150 and 0.5 Reward Points for the remaining Rs. 25. Therefore, in total, you actually earn 3.5 Reward Points on the expenditure of Rs. 175 with your One Card Credit Card.
• You earn 5x Reward Points on the top two spend categories of the month. For example, if the top two spending categories for a given month are travel and grocery, you earn 5x Reward Points on travel and grocery spends in that month. The top two spend categories are calculated for every month separately- that is, your top two spend categories for the month of February may be grocery and travel, and for the month of March may be bill payments and online shopping. This 5x Reward Points benefit on the top spend categories is applicable only if you use your One Card for purchases in at least three different spend categories.
• OneCard also offers periodic offers and discounts on popular brands and e-commerce websites like Amazon, Flipkart, and Levis. You can check all offers here.

Reward Redemption

The Reward Points earned on One Card Credit Card can be redeemed against cashback at a value of 1 Reward Point = Rs. 0.10.

OneCard Credit Card Features & Benefits

Following are some of the most significant features and benefits of the OneCard Credit Card:

• It is a lifetime-free credit card with no additional hidden charges.
• You can get the digital card activated immediately and get the physical card in 3-5 business days once your application is approved.
• The cardholders earn accelerated rewards on their topmost two spend categories.
• The reward points you earn on your spends are redeemable against the card’s outstanding balance.
• The card’s foreign currency markup fee is 1%, which is very low compared to most of the credit cards available in the Indian market.

OneCard Fees and Charges

• Annual Fee: One Card is a lifetime free credit card. Therefore, you do not pay a yearly membership fee for the card.
• Interest Rate: If you fail to pay the amount due on your One Card statement by the payment due date, you are charged an interest rate of 3.49 per month (41% to 42% annually) on the due amount.
• Forex Mark-up: The forex mark-up fee applicable on transactions made in a foreign currency with your One Card credit card is 1% of the transaction amount (lower than the usual 2.5%).
• Cash Advance Charge: You are charged a cash advance fee of 2.5% of the withdrawn amount on cash withdrawals with your One Card Credit Card (subject to a minimum fee of Rs. 300).

How to Apply for OneCard Credit Card Online?

You can apply for the One Card Credit Card online on the One Card website or through the One Card mobile app. All you need to do is enter your mobile number and provide some basic details like ID proof, PAN Card, and proof of income. In case your application is rejected due to a bad credit score or low income, you can also get One Card against a fixed deposit with SBM Bank, which is one of One Card’s banking partners.

Click on Apply Now to get your Metal OneCard now.

Should You Apply for OneCard?

Unlike BNPL (Buy Now Pay Later) cards by Fintech startups like Slice and Uni Card, One Card is a full-fledged credit card by FPL Technologies launched in collaboration with its banking partners- Federal Bank, SBM Bank, Indian Bank, CSB Bank, BOB Financial, and South Indian Bank. You should consider applying for One Card if-

• You want an entry-level metal credit card. One Card is the only entry-level credit card that comes in a metal form factor.
• You like the reward structure of One Card that allows you to earn fractional Reward Points (as explained earlier).
• You have a bad credit score or no credit score at all (due to a lack of credit history) and want a secured credit card with a decent reward rate. OneCard is available as both a secured (issued against a fixed deposit) and an unsecured credit card.
• You want an entry-level credit card with a lower foreign currency mark-up fee.

OneCard Credit Card Eligibility Criteria

The eligibility criteria that need to be fulfilled in order to get a One Card Credit Card have not been defined clearly by the card issuer. However, the following are some basic eligibility requirements that you might need to fulfill:

• The applicant’s age should be at least 18 years.
• The applicant should have a stable source of income.
• To get a secured OneCard against a fixed deposit, no credit score will be required. However, if you want to get an unsecured card, you should have a decent credit score (preferably above 700).

OneCard vs Pay Later Cards

One Card, as mentioned earlier, is issued by the fintech startup FPL Technologies Pvt. Ltd. in collaboration with its banking partners, just as pay-later cards like Slice Super Card and UNI Card. However, it is different from these pay-later cards as One Card is an actual credit card, while Slice Card and UNI Card are pay-later cards that essentially grant you a personal loan against a monthly line of credit.

OneCard vs Slice Card

To understand the key difference between OneCard and Slice Super Card, refer to the following table:

OneCard vs UniCard

If you are confused between OneCard and UniCard, the following table will make you understand the difference between the two:

Bottom Line

Considering that it is a lifetime free entry-level credit card, One Card offers a decent reward rate between 0.2% and 1%. If you want to flaunt a metal credit card but can not afford a super-premium card, One Card can definitely be a good pick for you. Another positive aspect of One Card is that it allows you to earn fractional reward points, which means that even if a transaction is not multiples of 50, you still earn reward points against the entire amount.

If you are eligible for an unsecured credit card, before you make up your mind, you should compare the features and benefits of One Card with those of mainstream entry-level credit cards like Amazon Pay ICICI Bank Credit Card, Flipkart Axis Bank Credit Card, and HDFC Bank Millennia Credit Card.