March 22, 2025 · 14 mins read
Santhosh Kumar
Moneyback credit card, as the name suggests, is a card that helps you get your money back in the form of reward points on every small spend you make. As a welcome and renewal benefit, you get 500 Cash points every year on payment of the joining/renewal fee. Besides that, you can also get the renewal fee waived on the basis of your annual spends. This card provides you with 4 reward points for every Rs. 150 spent online and 2 reward points for every Rs 150 spent on other categories.
These reward points can be redeemed against an array of categories, including cashback, flight/hotel bookings on SmartBuy, and products/vouchers. Moreover, you can also earn gift vouchers every quarter on the basis of your quarterly spends. Read our Bank Moneyback credit card review to get detailed information about the card and its offerings.
1: A cash back credit card with minimal annual fee.
2: Joining fee and annual fee waiver when applied through BankBazaar (T&C apply).
3: Accelerated reward points on online purchases.
4: Reward points redemption for cash against card outstanding.
Apply for the MoneyBack credit card and earn 500 reward points as joining bonus. If you renew your card, you will get 500 more reward points.
Spend Rs.50,000 or more on retail purchases in a quarter and get an e-voucher worth Rs.500. The voucher has a validity of 60 days.
1: 2 reward points on retail spends. 2 times more points on online spends.
2: Redeem reward points for cash (100 reward points = Rs.20).
Read More:: MDR Charges on Rupay Credit Card
With the fuel surcharge waiver facility, you can save up to Rs.1,800 every year on your fuel purchases at stations across India. Offer valid on minimum transaction value of Rs.400.
After reporting the loss of your credit card, you have zero liability on any fraudulent transactions made using your card.
Earn 2 reward points on every Rs.150 spent on the card.
2X more reward points on online spends.
Redeem earned reward points for cash back against the card outstanding (100 reward points = Rs.20).
Also redeemable for air miles and gifts from exclusive rewards catalogue.
Minimum 2,500 points are required for redemption. The accrued points are valid for 2 years from the date of accumulation.
Read More:: Rupay Credit Card UPI Charges
The credit limit on Moneyback Credit Card will be varying for each applicant. The bank will determine the credit limit, as well as cash limit on the card, separately for each applicant. The credit limit for a cardholder will be based on the credit score of the primary applicant, the credit report along with the repayment habit of past and ongoing debts.
Type of fee/charge: Joining fee
Amount: Rs.500
Type of fee/charge: Annual fee
Amount: Rs.500
Type of fee/charge: Interest rate
Amount: 3.49% per month
Type of fee/charge: Cash withdrawal fee
Amount: 2.5% of the withdrawn amount (Minimum Rs.500)
Type of fee/charge: Cash advance limit
Amount: 40% of the credit limit
Type of fee/charge: Rewards redemption fee
Amount: Rs.99 per request
Type of fee/charge: Late payment charges
Amount:
1: Less than equal to Rs.100 - Nil
2: Rs.101 to Rs.500 - Rs.100
3: Rs.501 to Rs.1,000 - Rs.500
4: Rs.1,001 to Rs.5,000 - Rs.600
5: Rs.5,001 to Rs.10,000 - Rs.750
6: Rs.10,001 to Rs.25,000 - Rs.900
7: Rs.25,001 to Rs.50,000 - Rs.1100
8: More than Rs.50,000 Rs.1300
Type of fee/charge: Over limit charges
Amount: 2.5% of the over-limit amount (minimum Rs.500)
Type of fee/charge: Payment return charges
Amount: 2% of payment amount (minimum Rs.450)
Type of fee/charge: Cash processing fee
Amount: Rs.100
Type of fee/charge: Reissue of lost, stolen or damaged card
Amount: Rs.100
Type of fee/charge: Foreign currency transaction fee
Amount: 3.5%
1: Applicant should be either self-employed or salaried.
2: For salaried the age range is 21 to 60 years.
3: For self-employed, it is 21 to 65 years.
4: The applicant should have a good credit history and a stable flow of income.
Read More:: How does UPI Mandate Work
The exact documentation to apply for the Moneyback credit card is not available on the official website.
Listed below are the basic documents required to process any credit card application.
1: KYC documents
2: PAN card
3: Income proof such as salary slip or income tax returns
4: Bank statements and others.
Apply it through both these modes:
1: Visit the official website of the Bank, i.e.
2: Go to ‘Cards’, followed by ‘Credit Cards’.
3: On that page, you can see numerous options for credit cards issued by Bank; for instance, you can choose the Moneyback Credit Card.
4: Just hover your cursor on the Moneyback Credit Card, followed by selecting ‘Apply Now‘ from there.
5: You will be asked to fill out your details including your name, contact information, income details, and employment status.
6: Be accurate and updated with the information provided.
7: You are required to upload documents like your identity proof, address proof, income proof, and photograph, as per the list of documents mentioned above.
8: After filling out the details and uploading the documents, review your application to make sure everything is correct.
9: Apply online through the application form.
10: The bank will check your application after submitting it. They can ask for extra documents or information if required.
11: You will be informed about the status of your application, and if approved, your card will be delivered to you.
Read More:: How to Check CIBIL Score on Phone Pe
1: You can walk into the nearest Bank branch to apply for the Moneyback Credit Card.
2: Request for the credit card application form of the Moneyback Credit Card. They will provide you with the form and proceed accordingly.
3: Fill the details in the application form wherever it is required. Care should be taken that all the information about personal details, income, and jobs provided by the applicant should be correct.
4: Along with the form, furnish the relevant documents. The list of documents includes Identity proof, Address proof, Proof of income, and pas hotograph.
5: Your application will be processed, and your information will be cross-checked at the bank level.
6: In case of successful completion, the bank will sanction the credit card with a reply and forward it to the registered address.
7: You will receive the Moneyback Credit Card by post at the same postal address.
8: Once you receive your card, you need to activate it by following the instructions given in the envelope, either through the bank’s Card website, or mobile app or by calling their customer service.
9: For security purposes, you must set your PIN (Personal Identification Number) before you can start using your credit card.
Moneyback Credit Card is one of the best cashback credit cards available in the Indian market. It is a basic card as it does not offer exclusive benefits on any particular category. However, it is also among the best low annual fee credit cards in India.
Read More:: What is YBL in UPI?
1: Earn 2 reward points for every INR 150 spent across all categories.
2: Earn 4 reward points per INR 150 for online transactions.
3: If you do not wish to get a cashback, you can choose an item from their extensive rewards catalogue.
4: 5 reward points = INR 1. So, if you have 5,000 reward points in your credit card account, you can convert it into a cashback of INR 1,000.
5: The card provides lost card liability cover wherein you will not be liable for any fraudulent transaction on the card in case of a lost or stolen card, if you report such loss immediately.
6: The card also offers milestone benefits in the form of an INR 500 voucher when you spend INR 50,000 or more in a quarter.
7: Other common credit card benefits can also be availed on this card such as revolving credit, 50-day interest-free period, chip and PIN security, etc.
1: Reward points are valid only for 2 years.
2: Cashback rate is lower as compared to other cashback credit cards in the market.
3: Fuel transactions are not eligible to earn rewards.
4: Reward redemption fee of INR 99 will be charged if you redeem the points for goods or vouchers from their catalogue.
5: The card does not offer any travel benefit at all; there are other cards in the market that offer basic travel privileges for the same annual fee or less.
Now looking at these advantages and disadvantages, you can decide for yourself if this card is the right one for you.
Read More:: How to add money in Phone Pe wallet?
1: Don’t use your credit card to draw money unless there is a dire emergency. (You will be charged Rs 350 plus interest immediately. Unlike card payments where there is grace period, the meter on cash withdrawals starts immediately”
2: Don’t share your PIN. Not with any shopkeeper or salesman or don’t shout it across the room.
3: Pay your bills online or give standing instructions to your bank. Cheques get delayed and there is a charge for cash payments.
4: Use your credit card for bill payments including utility bills. Try to pay your bill at the beginning of the credit card billing cycle.
5: Avoid using credit cards in public computers.
6: Don’t carry forward your payments unless there is a cash emergency. Credit card debt is the costliest at 36%.
7: Don’t go into default with bank and try to negotiate settlement. This will spoil your credit record and you may find it difficult to get home loans in future.
8: Switch off international usage if not required.
9: Don't use insta loan which cost very high compared to personal loan.
10: Use credit card if it really required. Don't run behind rewards points. You will spend unnecessarily if you run behind rewards points.
11: Don't let your friends use your credit card which looks initially useful. However, you have to pay bills if your friend doesn't pay. Please remember that.
12: Keep your overall usage below 30% of your credit limit which increases your cibil score and enable lot of offers on your card.
Read More:: How Much Money Can We Transfer Through PhonePe?
Update: You can now redeem points from the net banking itself. No longer need to follow below steps.
1: Cashback will be credited to your card account within 10 working days from the date of receipt of this form.
2: Cashback though credited within 10 working days will reflect only in your subsequent credit card statement.
3: Minimum 500 Reward Points (as per the last statement balance) should be available in card account, to process this request.
4: Maximum Reward Points available for redemption will be as per the last statement.
5: Redemption fee of Rs. 75 will not be applicable while redeeming Reward Points as cashback.
6: This is an awesome feature of the card. For example, if you have 10,000 points on this card, you can get Rs.4000 as cash credit on your Credit card billing Account. So you don’t need to deal with limited catalog redemption options as like other cards.
Critical Update: From June 1st 2016 onwards, 1 Reward Point= Rs.0.30 (it was 0.40 earlier) and all online spends gives you only 2X reward points (it was 3X earlier). Now the most popular product gets devalued heavily.
Are you a self employed professional/businessman? You can get Business Moneyback card instead of the retail card. Business Variant still gets you 3X reward points on many categories.
Read More:: Difference Between RuPay Credit Card and Visa Credit Card
1: With the Moneyback Credit Card, you can shop for clothing, electronics, accessories, and more at almost every retail outlet, shopping mall, and e-shopping website.
2: You can also use it on websites like Amazon, Flipkart, etc., and also make bookings on websites like MakeMyTrip, Yatra, etc.
3: You can use the card to pay for your meals in restaurants, cafes, and fast-food outlets.
4: You can use it to book flight, train, or bus tickets, as well as to pay for taxi, Uber, Ola, or hotel bookings.
5: You can use your credit card to pay electricity and water bills, mobile bills, and internet services.
6: You can use your Moneyback Credit Card to pay for expensive items such as electronics or appliances through easy monthly instalments (EMIs).
7: The Moneyback Credit Card is also accepted in other countries, where you can make purchases and payments. It is also accepted wherever Visa is accepted.
1: The credit amount you can spend is what you are provided with an MoneyBack Credit Card. It is based on your income, credit score, and other financial history when you are selected for this credit card by the bank.
2: For instance, if you have a credit limit of ₹50,000, you can spend up to that amount only. If you want to spend more than the limit, the bank will not consider it.
3: The actual credit limit varies with the person. A credit limit could be ₹30,000 for someone and ₹1,00,000 for another or even more, considering his/her profile and financial background.
4: It’s essential to follow the expenses and not exceed the credit limit because when you pass this limit then penalties get added, and your credit score also goes down.
Read More:: Amazon Pay UPI Pin Change
If you’re a beginner getting started with a new credit card, bank’s Moneyback Credit Card is the must have card in your wallet. Almost anyone can apply for this card who has a savings account with bank and approval is quite easy for this card.
Yes, there may be a fee applicable on foreign transactions on Moneyback Credit Card. The amount can vary based on the size of your transaction and the card type.
Moneyback Credit Card comes with various security features, including travel insurance, rental car insurance, and 24/7 customer support. In addition to this, cardholders are offered instant help and protection against fraud.
Yes, Credit Card can be used for shopping online. Moneyback Credit Card is fully applicable for transactions that occur on websites and online portals of e-commerce stores.
Through the online portal of you bank or by mobile app of the bank, you may check your accumulated reward points. Apart from these, you receive the information in your statement.
If you wish to close an Moneyback credit card, you will have to get in touch with your bank’s customer care and gather information about the procedure followed in cancelling the card. Be sure that you have paid off all your dues before closing the card.
Download the app now
Download the app from PlayStore
