BOB Financial Select Card: A Great "No-Fee" Card

BOB Financial Select Card: A Great "No-Fee" Card

A Great Option If You Spend Over Rs. 70,000 Annually

Good for

  • Students
  • Consumers looking to avoid annual fees

Bad for

  • Consumers looking for a general spending card
  • Frequent Travellers
  • Families

Editor's Rating

4.0/5.0

The BOB Financial Select Card is a solid "no-fee" credit card for those that meet the minimum annual spending requirement and avoid its annual fee. This is possible for cardholders that spend Rs. 70,000 annually. The card earns a solid 1.25% rewards rate (5 points per Rs. 100 spent; 4 points = Rs. 1) on online shopping, dining and utility bill payments. Additionally, the card offers a great monthly bonus if the cardholder surpasses certain monthly spending limits. However, the BOB Financial Select Card earns a below average 0.25% rewards rate (1 point per Rs. 100) on all other spending categories. As a result, this can be the most valuable no-fee card for high spenders that spend over the minimum requirement to waive the fee and generally spend a large portion within the online shopping, dining and utility bill payments categories.

ProsCons
  • 1.25% rewards rate on online shopping, dining and utility bill payments
  • Low annual fee waiver: Rs. 70,000
  • Potential monthly bonus
  • Below average general spending rate: 0.25%
Promotions:
  • Monthly bonus: 1,000 points (worth ₹ 250) on 5 transactions of ₹ 1,000 per month
Card Overview
Pros:
  • 1.25% rewards rate on online shopping, dining and utility bill payments
  • Low annual fee waiver
  • Potential monthly bonus
Cons:
  • Below average 0.25% general spending rate
Promotions:
  • Monthly bonus: 1,000 points (worth ₹ 250) on 5 transactions of ₹ 1,000 per month

What Makes BOB Financial Select Card Stand Out?

The BOB Financial Select Card is the most valuable "no-fee" card as long as the cardholder can reach the minimum spending for the annual fee waiver. It also helps add additional value to the card if the cardholder utilizes the monthly bonus points promotion. To waive the annual fee, the cardholder must spend at least Rs. 70,000 annually. In terms of earnings, the card earns an elevated rewards rate of 1.25% (5 points per Rs. 100 spent; 4 points = Rs. 1) on online shopping, dining and utility bill payments. Moreover, the card has a solid promotion that allows higher spenders to earn additional rewards based on their spending. The downside of this card is that it earns a below average rewards rate of 0.25% (1 point per Rs. 100), making it a less attractive card if you are not primarily spending on online shopping, dining and utility bill payments. Still, if the cardholder is able to clear the annual spend minimum for the fee waiver and spends enough to earn the monthly bonuses, this card would be the one of the most valuable no-fee cards on the market.

How Does the BOB Financial Select Rewards Programme Work?

The BOB Financial Select rewards programme is points based. The card earns 5 points per Rs. 100 spent on online shopping, dining and utility bill payments. The card also earns 1 point per Rs. 100 on general spending. All points have a redemption rate of 4 points = Rs. 1. The points earned will expire after 2 years of accrual.

  • 5 points per Rs. 100 on online shopping, dining and utility bill payments
  • 1 point per Rs. 100 on all spending
  • Redemption rate: 4 points = Rs. 1
  • Points expire after 2 years of accrual

BOB Financial Select Credit Card's Features and Benefits:

Card Overview
  • Joining Fee: Rs. 750; spend Rs. 7,500 within 60 days for fee waiver
  • Annual Fee: Rs. 750; spend Rs. 70,000 on your card per year for fee waiver
  • Income Requirement: None listed by issuer
  • Age Requirement: None listed by issuer
Rewards Rate Details
  • 5 points per Rs. 100 on online shopping, dining and utility bill payments
  • 1 point per Rs. 100 on all spending
  • Redemption rate: 4 points = Rs. 1
Promotions:
  • Monthly bonus: 1,000 points (worth ₹ 250) on 5 transactions of ₹ 1,000 per month

How Does the BOB Financial Select Credit Card Compare Against Other Cards?

The BOB Financial Select Card is a top no-fee card in terms of rewards and promotions, as long of the cardholder spends on online shopping, dining and utility bill payments, and can reach the spending limit to earn the monthly bonus.

Read our comparisons of the BOB Financial Select Credit Card:

BOB Financial Select Card vs. BOB Financial Prime Card Card

Consider this if you are interested in the best card against fixed deposit

Age Requirement None listed by issuer
Annual Income Requirement None listed by issuer

The BOB Financial Prime Card is a great option for consumers that may not qualify for many other credit cards and are seeking a secured credit card. The Prime Card earns a solid 1% (4 points per Rs. 100 spent, 4 points = Rs. 1) cashback on all spending categories. This is lower than the elevated rate (1.25%) offered on online shopping, dining and utility bill payments by the Select Card. Further, the Select Card offers a monthly promotion that can be achieved after the cardholder surpasses certain spend limits. However, the Select Card earns a lower 0.25% rewards rate on general spending. Overall, the Prime Card is a better option for those who do not qualify for the Select Card and require a secured credit card; however, the Select Card may be more attractive to consumers interested in a "no-fee" card for online shopping, dining and utility bills.

BOB Financial Select Card vs. Axis Bank Pride Signature Card

Consider this if you are interested in a low annual fee waiver card with travel benefits

Age Requirement 18-70
Annual Income Requirement None listed by issuer

The Axis Bank Pride Signature Card is similar to the BOB Financial Select Card, as it is essentially a no-fee option; however, it also offers solid travel benefits. The card does not charge a joining fee, but charges an easily waivable (annual spends of Rs. 40,000 to waive) annual fee of Rs. 500. The Pride Card earns a solid 1.6% rewards rate (8 point per Rs. 200 spent; 1 point = Rs. 0.40) on all spending categories, which is higher than the rates earned by the Select Card. Furthermore, the card offers 2 quarterly domestic airport lounge visits across 5 major cities. On the other hand, the Select Card offers a monthly promotion that allows high spenders to earn additional points. As a result, would recommend the Pride Card to those looking for a no-fee card with higher general rewards and travel benefits, whereas the Select Card would be better for higher spenders looking for extra reward points without incurring annual fees.

BOB Financial Select Card vs. Indusind Bank Pioneer Legacy Card

Consider this if you are interested in the best no-fee card on the market

Age Requirement None listed by issuer
Annual Income Requirement None listed by issuer

The Indusind Bank Pioneer Legacy Card offers the highest rewards rates among all no-fee credit cards in the market. The card has different rates on weekdays (1%; 1 point per Rs. 100) and weekends (2%). The elevated rates on weekends is even higher than the elevated 1.25% earned by the Select Card on online shopping, dining and utility bills. Additionally, similar to the Select Card, the Indusind Pioneer offers a solid promotion for high spenders that pass a certain spending threshold. Therefore, we recommend the Pioneer Legacy Card for consumers interested in an excellent no-fee, general use card, but the Select Card for consumers interested in a "no-fee" card to use on online shopping, dining and utility bills.