RBL (Ratnakar Bank) Bank Novio Credit Card: Read A Complete Guide on Features, Benefits, and Limitations

In the current scenario, where you have a lot of features and functionalities tailor made for each type of customer, RBL Bank Novio Credit Card is a good option for those who love to do online shopping and handful of UPI transactions. This card is for consumers who spend a lot in Uber rides and are looking for a rich rewards program with a low annual fee.

Well, if you are an individual who wishes to maximise on online shopping and desire a credit card that adds value to your transactions, then RBL Bank Novio Credit Card may be the one for you.

And, in this in-depth review we will walk you through all the features, benefits, downsides and overall value of the RBL Bank Novio Credit Card so you can make an informed decision on whether this card suits your requirement or not.

What is the RBL Bank Novio credit card?

The RBL Bank Novio Credit Card is a rewards-based, digital first credit card, offering value to heavy online shoppers and those who transact regularly via UPI. Its goal is to provide easy access, comfort and value for everyday shopping habits.

Main Features of RBL Bank Novio Credit Card

Joining Fee and Renewal Fee

RBL Bank Novio Credit Card – Joining Fees The RBL Bank Novio Credit Card charges a joining fee of ₹500 plus GST only. The renewal fee is also ₹500 +GST, which is very decent especially if you compare that with what you are asked to pay as renewal fee for premium credit cards.

Waiver of fees: The card provides a very good option of reimbursement of joining fees and renewal fees. To be able to receive the fee waiver, you need to spend ₹10,000 or more in the first 30 days of the card issuance. You can also have the renewal fee waived if you spend ₹1,00,000 or more over the previous year.

Reward Points System

Get Reward Points on the RBL Bank Novio Credit Card on every purchase which makes it one of the most profitable credit cards for those making regular transactions:

• Online spends: 2 Reward Points for every ₹100 spent on online spends.
  
  
• Purchases in the offline world: On offline transactions, users get 1 Reward Point on ₹100 spent.
  
  

Special Category Purchases

The cards also provides 2 Reward Points on all special category spends (savings account, personal loan), such as utilities, insurance and educational-spends.

This reward points system is aimed at promoting the digital transactions, that’s why it offers more rewards on online spends rather than offline transactions.

Reward Redemption

When you earn your reward points, you can part with them for the following perks:

• 1 Reward Point = ₹0.25 for flight and hotel bookings – It can be a reasonable value for those who travel a lot.
  
  
• 1 Reward Point = ₹0.10 towards gift vouchers or catalog products.
  
  

In addition, YES Rewardz has an option to redeem the points for movie tickets, a good perk for entertainment lovers.

Welcome Benefit

2,000 Reward Points can be availed within 30 days of card issuance, by new card members on payment of membership fee and spending ₹5,000 or more. That’s a decent welcome bonus, and it comes on top of the card’s value driven from day one.

RBL Bank Novio Credit Card Features and Benefits

UPI Integration

The RBL Bank Novio Credit Card also comes with one of the best-in class UPI (Unified Payments Interface) integration. UPI payments are a preference for digital payments in India, and the card is UPI-compliant ensuring one can easily do transactions using this card.

The Novio Credit Card can be conveniently linked to UPI apps like Google Pay, PhonePe, or Paytm and used as a safe method to pay at a merchant. This is a big advantage since it now makes it possible to accumulate points even on UPI transactions, further enhancing the value of the credit card for day-to-day spending.

Dining, Shopping, and Entertainment Benefits

There's nothing particularly special in terms of dining or shopping offers with the RBL Bank Novio Credit Card, however, it can be a good online shopping card. The cardholder may get 2 Reward Points for every ₹100 spent online which is convenient for individuals who shop a lot online from e-commerce websites like Amazon or Flipkart and so on.

Besides, the card users can also earn rewards on daily spends such as bill payments, insurance and school fees, as the card is integrated with UPI. This is what makes the NOVIO Credit Card ideal for those in search of a no-nonsense credit card that lets them earn rewards on their every day spend.

Fuel Surcharge Waiver

For people who drive a lot, RBL Bank Novio Credit Card comes with the benefit of 1% fuel surcharge waiver on all fuel transactions made between ₹400 and ₹5,000. It's a nice perk, especially for people who find themselves filling up all around Australia. Though less generous than what many other cards with higher waivers offer, it’s still a nice, freebie perk for cardholders.

Cash Advance Facility

The RBL Bank Novio Credit Card provides cash advance facility, as do most credit cards. Cardholders can withdraw cash across ATMs in India. But it comes with a cash withdrawal fee of 2.5 per cent of the amount (minimum ₹500) and interest is levied on the amount withdrawn from the date of transaction. This facility must be used with extreme care as interest payments can be substantial.

Cons of the RBL Bank Novio Credit Card

The RBL Bank Novio Credit Card comes with a host of advantages but there may also be some cons that you need to keep in mind:

Limited Lifestyle and Travel Benefits

Unlike premium credit cards available in the market today, the RBL Bank Novio Credit Card does not offer few high-end lifestyle benefits like discounts on fine-dining restaurants, added travel privileges such as complimentary lounge access and insurance coverage. Although it offers benefits on regular spends, it is more inclined towards online shopping and UPI transactions so if you wish to avail luxury or travel-related benefits, it's not a very good choice.

No Complimentary Lounge Access

Whereas, many another premium card provides free lounge access in domestic and international airports. If you are keen on access to airport lounges, this wouldn’t be the card for you.

Foreign Currency Markup

RBL Bank Novo Credit Card foreign currency markup fee is 3.5%, which is a little on the higher side considering other cards with around 2-3% markup charge. This can make the card less than perfect for anyone who frequently travels abroad or purchases in foreign currencies.

How the RBL Bank Novio Credit Card Compares Against Other Cards

The RBL Bank Novio Credit Card doesn't come with a bunch of extravagant benefits or perks found on other premium cards, but it's noteworthy for its no-frills approach, relatively low fee structure and emphasis on digital transactions. You have an option of getting rewards on your UPI transactions and the uncomplicated rewards point system, makes it suitable for those seeking to earn rewards for regular shopping without the bells and whistles of luxury benefits.

Whom Is The RBL Bank Novio Credit Card For?

The RBL Bank Novoc Credit Card is a great option for those who wish to collect rewards on digital and online spent, in particular if you are online shopper and doing transactions using UPI. It’s simple, with a low joining fee, a reasonable annual fee and both rewards and fuel benefits.

But if you’re the type who has lofty goals for luxury travel perks or value dining offers and airport lounge access, this card may not be the best fit. It is made for people who prize ease and simplicity, over luxury.

Conclusion

To summarise, the RBL Bank Novio Credit Card is a great choice for those who want to maximise their rewards on their daily spends without bloating their budget. With fairly good reward points, low joining fee, RBL my card app which offers reward points on every spend, UPI integration, waiver on fuel surcharge. But if you’re looking for something with benefits like travel credit, dining discounts or lounge access, you might want to look elsewhere.

For digital and online consumers the RBL Bank Novio Credit Card is an easy and rewarding answer. With its low maintenance, no-nonsense rewards and the fact that its primary category is online spending, its a nice overall addition to any wallet.