One Card Credit Card Benefits, Features and Much More
one card credit card benefits – One Card credit is a metal credit card in collaboration with several banks, including SBM Bank, South Indian Bank, Federal Bank, BOB Financial, and CSB Bank. It is a lifetime-free credit card that is best suited for people new to credit who want to earn reward points on their purchases.
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Interesting Features of one card credit card
Here are some of the features of OneCard:
- No annual fees. You will never have to pay a yearly fee for your OneCard, regardless of how much you spend.
- No joining fees. Applying for a OneCard is free, and you will not have to pay any joining fees.
- 5X rewards on top 2 spend categories. Every billing cycle, you will earn 5X reward points on your top 2 spend categories.
- Reward points never expire. The reward points you earn with your OneCard will never expire so you can redeem them at your leisure.
- Full-stack technology. OneCard is powered by full-stack technology, meaning you can manage your Card entirely through the OneCard app.
- Controllable transaction limits. You can set your transaction limits for your OneCard domestically and internationally.
- Contactless payments. OneCard is a contactless credit card, so you can pay by tapping your Card on a contactless reader.
Benefits of using one card credit card
There are many benefits to using a one-card credit card. Here are some of the most common:
- Simplicity: Having just one credit card to manage can make tracking your spending and payments easier. You’ll only have one due date to remember, and you won’t have to worry about juggling multiple rewards programs.
- Convenience: A one-card credit card can be more convenient than multiple cards. You’ll only need one physical Card with you, which you can use for online and in-store purchases.
- Rewards: Someone card credit cards offer attractive rewards programs. You can earn facts or miles for every buck you spend, which you can then redeem for travel, merchandise, or cash back.
- Increased credit limit: If you have a good credit history, you may be able to get a higher credit limit with a one-card credit card. This can give you more flexibility with your spending and help you build your credit score.
Henceforth, by using a one-card credit card also has some potential drawbacks. For example, if your One Card’s rewards program does not cover specific spending needs, you may be better off with a different card. Additionally, if you have a history of overspending, it may be helpful to have multiple cards with different spending limits.
Ultimately, the decision of whether or not to use a one card credit card is a personal one. And also if you are looking for simplicity, convenience, and rewards, a one card credit card may be a good option for you. However, if you have specific spending needs or a history of overspending, you may want to consider using multiple cards.
Here are some additional things to consider when deciding whether or not to use a one card credit card:
- Your spending habits: Moreover, If you incline to overspend, having just one credit card may make it more difficult to control your spending.
- Your credit score: If you are trying to build your credit score, having multiple credit cards can help you diversify your credit history.
- Your rewards goals: However, If you are looking for a specific type of rewards, such as travel rewards or cash back, you may want to consider using multiple cards that offer different rewards programs.
The eligibility requirements for OneCard are as follows:
- You must be at least 18 years old.
- You must have a valid PAN card.
- You must have a minimum monthly income of INR 30,000.
- You must have a good credit score.
Furthermore, If you are interested in applying for a OneCard, you can do so through the OneCard website or app. Hence, The application process is completely digital, and you can get approved for a card in just a few minutes.
Advantages and Disadvantages of One card credit
Here are some of the pros and cons of One Card:
- No annual fees
- No joining fees
- 5X rewards on top 2 spend categories
- Reward points never expire
- Full-stack technology
- Controllable transaction limits
- Contactless payments
- The credit limit is not fixed and depends on your credit score and income.
- There is no sign-up bonus.
- The rewards program is not as generous as some other credit cards.
Overall, OneCard is a good option for people who are looking for a metal credit card with no annual fees and no joining fees. The 5X rewards on top 2 spend categories is a great perk, and the fact that reward points never expire is another plus. However, the credit limit is not fixed and the rewards program is not as generous as some other credit cards.