RBL Bank iGlobe Credit Card:- Is It Worth It? An Unbiased Review
- Abhijeet Saxena
- Nov 18, 2024
- 2 min read
RBL Bank has launched a number of unique credit cards in past. RBL Bank i-Globe Credit Card is one such unique credit card. In today's fast-paced world, having the right credit card can make a significant difference in how you manage your finances. RBL Bank claims that iGlobe Credit Card stands out as a strong option, particularly for those who enjoy travel and lifestyle-related benefits. It's essential for prospective cardholders to explore both its advantages and disadvantages before making any decision.
Key Benefits of the RBL Bank iGlobe Credit Card
Welcome Benefit: Cardholders get a MakeMyTrip voucher worth INR 3,000 as a welcome gift.
Reward System:
Customers can earn 5 Reward Points for every INR 100 spent on domestic purchases, and 10 Reward Points for every INR 100 spent on international spends.
1 RP =0.25 paise.
Domestic Cashback Rate: 1.25%.
International Cashback Rate: 2.5%.
Milestone Benefits:
Creditcardholders making purchases of INR 5 lakhs in a year and get 10,000 reward points. Users additional 10,000 Bonus Reward Points on crossing INR 8 lakhs of annual spends on the card.
Travel Benefits
2 complimentary visits every calendar quarter at domestic lounges at all major airports in India, and 6 complimentary visits every calendar year at international lounges at all major airports, using your Priority Pass.
Potential Drawbacks
However, the RBL Bank iGlobe Credit Card comes with certain drawbacks that potential applicants should consider.
Low general cashback rate: The card offers an extremely low cashback rate.
Limited perks: For those who do not travel often, the travel-related perks may not hold significant value, making the card less appealing for local shoppers or diners.
Fees and Charges
Familiarizing yourself with the fees and charges associated with the RBL Bank iGlobe Credit Card is essential.
Annual membership fees: INR 3,000.
Cash Advance Charges: 2.5% of the cash amount (min Rs. 500).
Interest Rate: 3.99% per month or 47.88% per annum.
Late payment fee charged depending on the customer’s Total Outstanding amount ranges from Rs. 5 - 1300.
Foreign Currency Mark-up fees: Up to 1.5%.
Reward Redemption Fees: Rs. 99 +GST.
Eligibility Criteria
NRE Customer Requirement: This credit card is exclusively for Non-Resident External (NRE) account holders. This means you must be an Indian citizen residing abroad and have an NRE savings account with RBL Bank.
Minimum Income Criteria: There's no clear minimum income specified on the RBL Bank website for the iGlobe Credit Card.
Is This Credit Card Right for You?
The RBL Bank iGlobe Credit Card offers a low cashback rate in comaprison to many other premium credit cards. Even the perks offered by its are average. Overall there are multiple credit cards offering better package than this card.
If you want to read a more detailed review of this card and find out its AI-powered unbiased rating click here.
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