OneCard Review – One Card is a free metal credit card. It is becoming one of India’s most popular credit cards. The main reason behind the popularity of one card is its stunning look and premium design. One card is exquisitely crafted with metal to attract the new generation of youth.
One card is launched by FPL technologies in association with IDFC bank. It is an entry-level credit card. It is a lifetime free card with no annual fees. Its stunning design makes it different from other cards.
Let’s check out its features & benefits to know that is it hype or it’s worth having OneCard?
- One Card offers 5X reward points on the top 2 spend categories every month.
- Points earned using this card are credited instantly and never get expired.
- You can make use of reward points using a mobile app.
- You just need to swipe one button to redeem reward points.
- This card does not round off reward points, you can get reward points even in a fraction.
Smart OneCard Mobile App
One Card credit card comes with a powerful mobile app that offers the following features
- One Card Mobile app gives you complete control over the usage of the card.
- You can track your available balance.
- One Card Mobile app allows you to manage your credit limit.
- You can control your transaction and carry out a spend analysis.
- Managing supplementary cards and managing bill payments.
- Make use of the virtual card for online payments.
- A swipe to pay option allows you to make payment with a swipe instead of OTP.
Stunning Design and Look
The metal look of this card makes it different compared to other cards. It is a wave to pay card. This card looks very elegant and gives a premium feel.
- Make use of OneCard EMI option for shopping.
- You can get points on EMI transactions.
- Manage EMI from the EMI dashboard.
Foreign Markup fees
The foreign markup fees of this card is very low. You need to pay only 1% + GST as foreign markup fees while doing foreign currency transactions.
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Fees and charges
No Joining Fees
No Annual Fees
No Rewards Redemption Fees
Interest-free period – 48 days
Interest rate – 2.5% to 3.5% per month and 30 to 42% on annual basis
Minimum amount due – 5% of the total outstanding amount
Late payment fees – 2.5% of Total Amount due
OneCard Benefits – Pros
- Metal card with a premium look
- Instant issue of reward points that never get expired
- Fractional reward points
- Mobile app control
- Credit limit sharing with family members
- Virtual credit card facility
OneCard Drawbacks – Cons
- Reward rate is lowest – 0.2% on regular spend
- No airport lounge access
- This card is available in the limited cities only (currently in the 15 cities)
How to Apply for OneCard?
To apply for OneCard you need to download One Card Credit Card app.
After installing this app, you need to enter your basic details – Name, Address, e-mail and phone number, and PAN card number.
After OTP verification your instant virtual credit card is issued and you can see your credit limit.
You will also receive a welcome e-mail with complete details.
The physical credit card will be delivered to your address within 2-3 days.
OneCard Review – Should you go for it?
Before doing an actual review, let me tell you that – In your credit card review journey, don’t forget to explore the options of reliable money lenders. Having nearby financial resources can be a valuable asset in managing your credit effectively.
Now, looking at features and benefits it seems that it is an entry-level card designed for beginners.
The positive sides of one card are an easy and superfast onboarding process, a mobile app with easy to use and intuitive interface.
The physical design of this card is stunning and it is not a plastic card it is of metal. Foreign currency markup charges of this card is very low.
However, on the other hand, existing credit cardholders of other companies cannot ignore the drawback of the lowest reward rate which is only 0.2%. Additionally, you will not get any additional benefits like cashback, discount on shopping, fuel expense, etc. it is a general-purpose card and not an exclusive card made up for a specific purpose.
Applicable interest rates and late payment fees in one card are at par with other credit cards.
This means this card has nothing extra to offer you in your kitty, except look and feel.
To be very honest, if you are new to the credit card you can go for this card as it comes as a lifetime free card with no extra cost. As per me, the utility of this card is very limited, this card is one type of hype and nothing else.