What benefits got deducted due to BOB’s U-turn? | Should you stick to your existing bob credit card or surrender it?

Bank of Baroda has recently announced a new lifetime free credit card offer (applicable on the credit card application made within August 2021). It is a really very exciting offer specially for those who are going to get their first credit card.

Once your bob credit card online application is submitted you can check your bob credit card application status from the bob credit card status checking page with your application number.

But suddenly BOB has taken a major decision and announced a big deduction of the offers on the Select, Easy, and the Swavlamban credit cards. The new changes will come into play from September 5, 2021. The new announcement has drawn some serious lines of thought on the forehead of the BOB credit card users.

What are the changes?

The changes are made especially on the offerings of the three BOB credit cards –  Select, Easy, and the Swavlamban card.

  • Reduction in the value of reward points:

Now the redemption value of 1 BOB reward point is equal to 25 paise. But the value is going to be reduced. As per the new announcement, the value of 1 BOB reward point on Swavlamban and Easy cards will be 20 paise. The changes will be applicable from September 15th.

If you have some reward points in your bob credit card account, then you can redeem them before September 15th at the rate of 25 paise. So, I suggest you redeem your reward points before any changes take place.

You can check your total earned reward points from the bob credit card app or just by calling the bob credit card customer care number 1800 233 6427 (toll-free).

To redeem your earned reward points just log in to your account from the bob credit card login page and you can redeem your reward points from there. You can also call the bob credit card helpline number 1800 233 6427 (toll-free) for assistance.

  • Withdrawal of the cashback benefits:

Normally the bob credit card offers 0.5% cashback on bob credit card bill payment. And the cashback amount usually gets reflected in your next bob credit card statement. But as per the new announcement, BOB is going to withdraw this offer from 15th September on the above-mentioned cards.

  • The disappearance of the bonus reward points:

BOB Select credit card used to offer 1,000 bonus points on making five eligible transactions in a month. It is one of the main features of the mentioned card. But from 15th September this feature is going to disappear forever. It is a very big downfall of the BOB credit card benefits and will surely impact the credit card’s popularity.

  • Changes in applicable charges:

In addition to the decreasing offers and benefits, BOB has also announced some massive changes in the credit card fees structure. The bob credit card charges are listed below.

Applicable bob credit card charges The current rate What is going to be
Late Payment Penalty Rs. 950 (for the balance of Rs25,000 or more) *Rs. 1,100 (for a balance of 25,001 to 50,000)

*Rs. 1,300 (for a balance of more than 50,001)

Over limit penalty 2.5% of the over-limit amount, or Rs. 500 (Min) 2.5% of the over-limit amount, or Rs. 600 (Min)


Should you grab the free credit card offer in this situation?    

BOB had ruined the interest of new customers towards their credit cards with the deduction of bob credit card offers and the increase in bob credit card charges. Now the main question is should you go for the free credit card offer or not? BOB does not offer co-branded credit cards or some special credit card types like travel or lifestyle credit cards. The only BOB card that still has some noticeable offerings is the Bank of Baroda Eterna credit card. But you can’t apply for the card now because of the ban that RBI has imposed upon MasterCard (they are not allowed to issue new credit cards).

So, in this situation, I would value the benefits more than the waiver of annual fees. I would never go with a credit card company that is reducing its credit card benefits at this rate and increasing its charges.

Should you still stick to your old BOB credit card or surrender it?

Now the most common thought that can appear in a bob credit card user’s mind is to surrender his/her credit card and apply for a new one. But if you are using the Bank of Baroda Eterna credit card or if you have a good and long credit history with your BOB credit card, then I would suggest you keep your card. Because Eterna credit card offers are still intact and closing a credit card with a long and good credit history can affect your credit score. So in this case I would suggest you stick to your BOB card for a few more months. But try to be regular with your bob credit card bill payment.

You can make your bob credit card online payment from your bob credit card net banking account. You can check your credit card balance by calling the bob credit card balance check number 84680 01111 from your registered mobile number. You can make your credit card payment by cheque/NEFT/RTGS. The bob credit card ifsc code is BARB0COLABA

On the other hand, if you neither have the Eterna credit card nor a good credit history with your BOB credit card. Then I would suggest you close your credit card account and go for a credit card that offers some decent benefits and features. You can call the bob credit card customer care no(1800 233 6427) to initiate the cancellation process.

You can visit our top 10 credit card pages to find your choice. We have listed the best credit cards available in the Indian market.


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