Federal Bank MagniFi Credit Card
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उत्पाद विवरण
क्रेडिट कार्ड का नाम
Federal Bank MagniFi Credit Card
Bank Name :
Federal Bank
प्रकार
Rewards Credit Card
ब्याज दर
3.49% per month i.e. 41.88% annually
पात्रता
Age: You must be at least 18 years old.
Citizenship: You must be a resident of India.
Credit Score: While the official requirement isn't explicitly stated, it's generally recommended to have a good credit score (above 700) for better chances of approval.
Income: Some sources suggest a minimum income requirement might exist, but the exact amount is not publicly disclosed.
पेशेवरों
Welcome Benefit: Users will get 1000 Fi-coins on their first spend of Rs. 1000 within 30 days of card issuance.
Reward System: Every weekend, there is a 20% cashback on Zomato, Blinkit, AJIO, and BookMyShow (maximum 400). 1 Fi-Coin = INR 0.03. 1x rewards on all spend i.e. 5 Fi-Coins for every spend of Rs. 100. Effective cashback rate: 0.15%. 4x rewards on weekends on selected brands (Flipkart, Uber, Makemytrip and Urban Company) i.e. 20 Fi-Coins for every INR 100 spent Effective cashback rate: 0.6%.
Lifetime free credit card.
High rewards on weekends: Users can earn 20% cashback on spending across Zomato, Blinkit, BookMyShow, and Ajio on weekends. You can also earn 4X rewards on spending during weekends on brands like Flipkart, Urban Company, MakeMyTrip and Uber.
1X rewards on all other spends: users can also earn 1X rewards on all other spends, including rent and fuel during weekdays. This means that you can still earn some rewards even if you don't use the card on weekends.
Easy to apply: Users can apply for the card online or through the Fi app.
Wide range of benefits: The card also offers several other benefits, such as complimentary lounge access, purchase protection, and lost card liability.
दोष
Limited rewards on weekdays: Users will only earn 1X rewards on all other spends, including rent and fuel during weekdays. This means that you may not want to use this card for all of your purchases.
Rewards are capped: There is a cap on the amount of rewards you can earn each month.
Requires Fi app: Users must have the Fi app to use this card.
पक्ष विपक्ष
Welcome Benefits
Users will get 1000 Fi-coins on their first spend of Rs. 1000 within 30 days of card issuance.
पुरस्कार प्रणाली
Every weekend, there is a 20% cashback on Zomato, Blinkit, AJIO, and BookMyShow. 1 Fi-Coin = INR 0.03. 1x rewards on all spend i.e. 5 Fi-Coins for every spend of Rs. 100. Effective cashback rate: 0.15%. 4x rewards on weekends on selected brands i.e. 20 Fi-Coins for every INR 100 spent. Effective cashback rate: 0.6%.
अंतर्राष्ट्रीय विदेशी मुद्रा मार्कअप
Up To: 3.5%
स्वागत लाभ और पुरस्कार प्रणाली
विशेष लक्षण
Lifetime free credit card which provides 20% cashback every weekend on Zomato, Blinkit, AJIO, and BookMyShow.
Eligibility Criteria
Age: You must be at least 18 years old.
Citizenship: You must be a resident of India.
Credit Score: While the official requirement isn't explicitly stated, it's generally recommended to have a good credit score (above 700) for better chances of approval.
Income: Some sources suggest a minimum income requirement might exist, but the exact amount is not publicly disclosed.
फ़ायदे
Customers can avail of Weekdays as well as Weekend rewards in the form of cashback and discounts on Zomato, Blinkit, BookMyShow, and Ajio. As well as on Flipkart, Urban Company, MakeMyTrip and Uber.
Free accidental death insurance cover of Rs 2 lakh.
विशेष विशेषता, पात्रता और लाभ
क्रेडिट कार्ड के लिए आवेदन कैसे करें?
The MagniFi credit card can be applied for online through the Fi app. Here is the step-by-step process:
Download the Fi app and create an account.
Click on the "Credit Cards" tab.
Select the MagniFi credit card.
Fill out the online application form.
Submit the application form.
Once you have submitted your application, you will be notified of the decision within a few days.
सम्पर्क करने का विवरण
1800-425-1199 or 1800-420-1199.
खाता खोलने की प्रक्रिया और प्रक्रिया
विशेष विशेषता, पात्रता और लाभ
Pros:-
Change the text to include your own content. Adjust the font, size or scale to customize the style.
Cons:-
Welcome Benefit: Users will get 1000 Fi-coins on their first spend of Rs. 1000 within 30 days of card issuance.
Reward System: Every weekend, there is a 20% cashback on Zomato, Blinkit, AJIO, and BookMyShow (maximum 400). 1 Fi-Coin = INR 0.03. 1x rewards on all spend i.e. 5 Fi-Coins for every spend of Rs. 100. Effective cashback rate: 0.15%. 4x rewards on weekends on selected brands (Flipkart, Uber, Makemytrip and Urban Company) i.e. 20 Fi-Coins for every INR 100 spent Effective cashback rate: 0.6%.
Lifetime free credit card.
High rewards on weekends: Users can earn 20% cashback on spending across Zomato, Blinkit, BookMyShow, and Ajio on weekends. You can also earn 4X rewards on spending during weekends on brands like Flipkart, Urban Company, MakeMyTrip and Uber.
1X rewards on all other spends: users can also earn 1X rewards on all other spends, including rent and fuel during weekdays. This means that you can still earn some rewards even if you don't use the card on weekends.
Easy to apply: Users can apply for the card online or through the Fi app.
Wide range of benefits: The card also offers several other benefits, such as complimentary lounge access, purchase protection, and lost card liability.
Limited rewards on weekdays: Users will only earn 1X rewards on all other spends, including rent and fuel during weekdays. This means that you may not want to use this card for all of your purchases.
Rewards are capped: There is a cap on the amount of rewards you can earn each month.
Requires Fi app: Users must have the Fi app to use this card.
The Federal Bank MagniFi Credit Card, issued through the Fi app, is a unique card targeting weekend spenders with its focus on weekend rewards and no annual fees. MagniFi Credit Card is a good option for frequent weekend spenders, especially on the partner brands offered. However, if your spending is more spread out throughout the week or you prefer flexible reward redemption options, other cards might be a better fit.
Federal Bank MagniFi Credit Card
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
उत्पाद समीक्षा
फीस एवं प्रभार
Joining and Renewal Fees: Nil
Cash Advance Charges: Nil - ATM cash withdrawal not provided on the card.
Interest Rate: 3.49% per month i.e. 41.88% annually
Late Payment Fees: Ranges from INR 100 to INR 2000
Forex Mark-up Fees: 3.5%
ईंधन अधिशुक्ल
1%
Billing Cycle
30 Days