OneCard Credit Card Features Benefits Eligibility Fees Charges

The OneCard Credit Card is a next-generation, lifetime-free, metal credit card designed for tech-savvy users who prefer digital-first banking. Issued by SBM Bank and other partner banks, OneCard offers an intuitive mobile experience with complete control over spending and rewards.

Key Points

1. Lifetime Free: No joining fee, annual fee, or hidden charges.
2. Premium Metal Card: A stylish and durable metal body gives it a premium feel.
3. Instant Digital Issuance: Get a virtual card instantly upon approval and start using it for online transactions.
4. 5X Rewards: Earn 5X reward points on top 2 spending categories each month.
5. Full App Control: Lock/unlock, set limits, and manage your card entirely through the OneCard App.
6. Flexible EMI Options: Convert high-value purchases into EMIs directly via the app.
7. Contactless & International Transactions: Enabled for secure tap-and-pay and global usage.
8. No Hidden Charges: Transparent billing with no hidden markups or forex fees.
9. OneCard is likely a lifetime-free metal credit card in India, co-branded with banks like SBM Bank and Federal Bank.
10. It seems to offer 5X reward points on top spending categories, with no annual fees, appealing for cost-conscious users.
11. Research suggests it’s ideal for beginners, with digital onboarding and low forex fees for travelers, but lacks lounge access.

Overview

OneCard is a premium metal credit card available in India, designed for users seeking a rewards-focused card without annual fees. It is co-branded with various banks, making it accessible through multiple financial institutions. The card is particularly noted for its digital-first approach and attractive rewards program, which may suit a wide range of users, especially those new to credit.

Fees and Rewards

The card appears to have no joining or annual fees, which is a significant benefit for cost-conscious users. It offers 1 reward point per Rs. 50 spent, with a unique 5X multiplier on the top two spending categories each month, and fractional points are credited, enhancing earning potential. The foreign currency markup is low at 1%, which is beneficial for international transactions.

Suitability and Features

It seems likely that OneCard is best suited for beginners looking to build their credit score, given the secured card option against a fixed deposit for those with low or no credit. The digital onboarding process is quick, taking less than 5 minutes, and the mobile app offers robust management features, including EMI conversion and family sharing, which is an unexpected detail for a credit card.

Limitations

However, the evidence leans toward it lacking complimentary lounge access, which might disappoint frequent travelers expecting premium perks. The interest rate, ranging from 2.5% to 3.5% per month, is relatively high, which users should consider for carried balances.

Detailed Review of OneCard Credit Card

OneCard is a premium metal credit card offered in India, co-branded with various banks such as SBM Bank, Federal Bank, BOB Financial, CSB Bank, Indian Bank, and South Indian Bank. Launched by FPL Technologies Pvt. Ltd., it is designed to cater to users seeking a lifetime-free, rewards-focused credit card with digital-first features. This review provides a comprehensive analysis of its features, benefits, eligibility, and suitability, based on information from multiple sources, including the official website, financial comparison platforms, and review sites.

Card Overview and Types

OneCard is available in both secured and unsecured variants. The secured option, offered against a fixed deposit with SBM Bank, is particularly suitable for individuals with low or no credit score, while the unsecured card is ideal for those with a stable income and preferably a credit score above 700. It operates on the Visa Signature network, ensuring wide acceptance globally.

Fees and Charges

One of the standout features of OneCard is its fee structure, which is entirely free of common charges:

• Joining Fee: Nil
• Annual Fee: Nil (lifetime free, no renewal fees)
• Foreign Currency Markup: 1% of the transaction amount, significantly lower than many competitors, making it cost-effective for international use
• Cash Advance Charge: 2.5% of the amount, with a minimum of Rs. 300
• Interest Rate: Ranges from 2.5% to 3.5% per month (30% to 42% annually), which is on the higher side for carried balances
• Late Payment Fee: 2.5% of the total amount due, with a maximum cap of Rs. 1,000
• Other Fees: No hidden fees, no rewards redemption fees, enhancing transparency

This fee structure makes OneCard particularly appealing for users looking to avoid upfront and recurring costs.

Rewards Program

The rewards program is a key attraction, designed to maximize earnings on everyday spending:

• Earning Rate: 1 reward point for every Rs. 50 spent, with the ability to earn fractional points (e.g., Rs. 175 spent earns 3.5 points: 3 for Rs. 150 and 0.5 for Rs. 25)
• Multiplier: 5X reward points on the top two spending categories each month, provided the card is used in at least three categories, encouraging diversified spending
• Redemption: 1 reward point equals Rs. 0.10, redeemable for cashback with no minimum threshold or redemption fees
• Additional Benefits: Points are credited instantly, never expire, and can be used to repay EMIs, adding flexibility
• Fuel Surcharge: 1% waiver on fuel purchases, a small but useful perk for frequent drivers

This structure is particularly beneficial for users who can align their spending with the top categories, potentially maximizing returns.

Additional Features and Benefits

OneCard offers several modern features that enhance user experience:

• EMI Flexibility: Users can convert spends into EMIs directly through the OneCard app, earning reward points on these transactions. EMIs can be managed via an EMI Dashboard, and repaid using reward points, offering financial flexibility
• Family Sharing: An unexpected detail, this feature allows users to share their credit limit with family members, each getting their own card with separate offers. Spending can be tracked and controlled via the “MyFamily” feature, ideal for household management
• Mobile App: The powerful OneCard app enables control over transaction limits, domestic/international use, online/offline use, and contactless payments. It supports a completely digital experience, from application to management
• Virtual Card: For secure online transactions, a virtual card is provided, enhancing security for digital payments
• Interest-Free Period: Up to 48 days from the purchase date, offering a grace period for payments
• Low Forex Markup: At 1%, this is significantly lower than many cards, making it suitable for international travelers
• Brand Offers: Periodic discounts on popular brands like Amazon, Flipkart, Zomato, BigBasket, and more, covering categories such as food, dining, travel, entertainment, education, health, and fuel. Examples include 10% off BigBasket (valid till July 25, 2025), 25% off Zomato, and 8% off international flights on MakeMyTrip (valid till July 31, 2025)

Eligibility and Application Process

To apply for OneCard, users must meet the following criteria:

• Age: 18 years and above, Indian resident
• Income: Stable income, applicable to both salaried and self-employed individuals
• Credit Score: For secured cards, no credit score is needed, making it accessible for beginners. For unsecured cards, a score above 700 is preferable

The application process is streamlined and digital:

• Online: Through the official website (OneCard) or the OneCard app, taking less than 5 minutes. Users provide their mobile number, ID proof, PAN Card, and proof of income, with status updates via WhatsApp
• Offline: Available at the nearest branch of collaborating banks
• Documents Required:
• Address Proof: Aadhar Card, Voter’s ID, Passport, Driving Licence
• Photo ID: PAN, Voter’s ID, Passport, Driving Licence
• Income Proof (Salaried): Last 3 months’ salary slips, ITR, Form 16, last 3 months’ bank statement
• Income Proof (Self-Employed): Last 2 years’ audited financials, ITR, last 12 months’ bank statement
• Credit Limit: Determined post-approval, varying based on income, eligibility, and credit score

Limitations and Considerations

While OneCard offers many benefits, there are some limitations to note:

• Lounge Access: No complimentary lounge access for domestic or international airports, which may disappoint frequent flyers expecting premium perks
• Insurance Benefits: No insurance coverage is mentioned, unlike some competitor cards
• Interest Rate: The interest rate (2.5% to 3.5% per month) is relatively high, which could be costly for users who carry a balance
• Network: Limited to Visa Signature, which may not offer the same perks as other networks like American Express in certain scenarios

Comparison and Suitability

OneCard is often compared to Buy Now Pay Later cards like Slice Card and Uni Card, but it stands out for its metal design and rewards program. It is best suited for:

• Beginners: Ideal for building CIBIL score, especially with the secured card option. Users are advised to maintain utilization below 50% and pay dues on time
• Frequent Shoppers: Those who spend regularly in their top two categories can maximize the 5X rewards
• Travelers: The low 1% forex markup makes it cost-effective for international transactions
• Digital-Savvy Users: The app-based features and quick onboarding process cater to those who prefer a mobile-first experience
• Families: The family sharing feature is particularly useful for managing household expenses

Pros and Cons

Below is a summary in table format for easy reference:

How to Apply for OneCard?

• Download the OneCard App from the Play Store or App Store.
• Complete the Paperless KYC process.
• Get Instant Approval & Virtual Card.
• Receive the Physical Metal Card at your registered address.

Conclusion

OneCard Credit Card is a strong choice for users seeking a lifetime-free, rewards-focused credit card with modern features like EMI flexibility, low forex fees, and family sharing. Its rewards program, particularly the 5X points on top spending categories, is appealing for frequent shoppers, and the digital onboarding process is quick and user-friendly. However, it lacks premium perks like lounge access and insurance, which may be important for some users. Overall, it is an excellent option for beginners, digital-first users, and those looking to maximize rewards without annual fees, especially given its metal card design and transparent fee structure.

The OneCard Credit Card is one of the best lifetime-free metal credit cards in India, offering full app-based control, 5X rewards, and zero hidden fees. If you’re looking for a modern, hassle-free credit card experience, OneCard is an excellent choice.