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Ola in association with SBI Card launches Ola Money SBI Credit Card

Pranav Pranav Follow May 15, 2019 · 2 mins read · 0 Comments
Ola in association with SBI Card launches Ola Money SBI Credit Card

Ola in association with SBI Card launched Visa powered Ola Money SBI credit card in India today. This launch comes just a day after Paytm launched their credit card in association with Citi Bank. This is an entry level lifestyle card with low annual fees and slightly better rewards than some of the existing cards.

Ola Money SBI Credit Card Launched

Rewards

Ola Money SBI credit card has multi-tiered reward rate based on merchants. Rewards are posted as Ola Money credit to Ola Money wallet within 3 days of transaction. This credit has no expiry date.

Ola Money SBI Credit Card Benefits
  • 7% on Ola rides up to Rs. 500 per month
  • 5% on flight booking through Cleartrip, up to Rs. 5,000 for domestic and Rs. 15,000 for international
  • 20% on domestic hotel booking through Cleartrip with no upper limit
  • 6% on international hotel booking through Cleartrip
  • 20% on 6K+ restaurants, up to Rs. 200 via Dineout app
  • 1% on all other spends with no upper limit

Features

Given that it’s entry level co-branded card, the features are minimal. Some of the features of this cars are outlined below:

  • Contactless enabled card
  • 1% fuel surcharge waiver
  • International acceptance
  • View and manage Credit Card on the Ola app

Fees

Ola Money SBI credit card comes with no joining fees. However from second year onwards, it has card fee of Rs. 499 which is waived off on spends over Rs. 1 Lakh.

How to apply?

Right now, you can just express your interest of joining this card on landing page hosted on Ola website.

Express Interest

Most probably, they will check your CIBIL score and based on that, they will invite you for this card. In future, you should be able to apply for this card via Ola app too. Also they are running an early bird offer wherein if you join before 30 June 2019, you’ll get following extra benefits:

  • Rs. 500 as Ola Money, credited after first transaction
  • Rs. 300 Cleartrip flight voucher
  • 3 Months Dineout Premium membership

Bottomline

Ola Money SBI credit card seems to be a well balanced card for beginners. It’s definitely better than Paytm First credit card, however I’ll still rate Amazon Pay ICICI Bank credit card better than this owing to latter being life time free and better reward rate on Amazon Pay partner merchants.

How do you compare Amazon Pay ICICI Credit Card, Ola Money SBI Credit Card and Paytm First credit card? Are you planning to apply for this card? Let me know in comments.

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Pranav
Written by Pranav Follow
Hi, I am Pranav! I love to acquire, review and earn reward points/cashback from Credit Cards. Guiding people about benefits and optimal utilization of credit cards for years.