One Card Review: An Overview of the Unique Entry-Level Card
One Card review for Credit Card – Combining Style and Accessibility
The OneCard Metal Credit Card is an intriguing offering that brings together the elegance of a metal card with the accessibility of an entry-level credit card. In our review, we delved into its features and benefits to determine if it lives up to the hype.
One of the standout features of the OneCard is its metal form factor. It adds a touch of sophistication to your wallet, setting it apart from traditional plastic cards. The absence of joining and annual fees is another attractive aspect, making it an appealing option for cost-conscious individuals.
1. Overview
The OneCard Metal Credit Card is a distinctive offering that combines the characteristics of both entry-level and super-premium cards. While entry-level cards usually come with zero joining fees and super premium cards have high joining fees and a metal form factor, OneCard breaks the mold by offering a free metal credit card. In this article, we will delve into the features and details of the OneCard metal credit card.
2. What is OneCard?
OneCard is an entry-level credit card launched by FPL Technologies. It operates on the IDFC bank platform through the Visa Signature network. Although it boasts a metal form factor, resembling prestigious cards like the Amex Platinum or Centurion, it offers a more accessible credit line, akin to driving a Maruti 800 that “looks” like an Audi on the outside. Despite the hype surrounding its metal form, OneCard remains a suitable choice for those seeking to showcase the card’s aesthetics.
3. Fees & Charges
OneCard sets itself apart by eliminating joining and annual fees. Additionally, it offers a competitive markup fee of 1%+GST, which is lower than most credit cards. However, it’s important to note that the rewards offered by OneCard may not be as robust as those provided by super-premium cards.
4. Rewards
OneCard offers regular rewards at a rate of 1 Reward Point (RP) for every Rs. 50 spent. It also provides accelerated rewards of 5X RP on the top two spending categories. The value of each point ranges from 10 paise to Rs. 1, depending on the redemption option. The regular reward rate typically falls between 0.2% to 2%, but with the 5X rewards, it can go up to 1% to 10%. It’s worth noting that instant redemption for statement credit often yields a reward rate of 0.2% to 1%.
5. Benefits of
- Form Factor: Metal Card: OneCard’s metal form factor adds a touch of sophistication and uniqueness to your wallet.
- Visa Signature Privileges: While lounge privileges are yet to be confirmed, OneCard holders can enjoy the benefits that come with Visa Signature cards.
- Instant Points Issuance: OneCard ensures that reward points are instantly credited to your account.
- Points That Never Expire: You don’t have to worry about your reward points expiring. OneCard allows you to accumulate and redeem them at your convenience.
- Fractional Reward Points: OneCard offers the flexibility of using fractional reward points for redemption.
6. How to Apply?
To apply for OneCard, you can express your interest through the OneScore app, which also provides a free credit score and report from Experian. By joining the waitlist within the app, you will receive a notification once the card becomes available. Please note that new user registrations may be temporarily paused but will likely reopen in the future. OneCard is currently available in 15 cities, including Pune, Mumbai, Bangalore, Ahmedabad, Baroda, Surat, and Delhi, with more cities expected to be added soon.
7. One card review User Experience
The onboarding process for OneCard is straightforward. Users have reported a simple registration process through the app, which only requires basic details such as email, phone number, OTP, mother’s name, and father’s name. The app displays the virtual one card
instantly, along with the eligible credit limit assigned. While the app itself is sleek and user-friendly, some users have noted that the customer service and support may need improvement. Responses to queries have been described as robotic, but it is expected that the company will refine and enhance its service over time.
8. Bottom Line
Card expert Rating: 3.8/5
The OneCard Metal Credit Card is positioned as an entry-level card with unique features. However, the relatively low regular reward rate of 0.2% on regular spending may make it less appealing to some users. The 5X rewards on the top two spending categories, however, can be a compelling option for those who can take advantage of them.
For individuals new to credit cards, it is recommended to consider alternatives such as the Flipkart Credit Card, Amazon Pay Credit Card, or OLA SBI Card, which offer better reward rates (around 1.5%) and improved service.
Nevertheless, the OneCard Metal Credit Card does offer advantages such as the metal form factor, free lifetime membership, and an easy-to-use mobile app. These features make it an attractive choice for those seeking a visually appealing credit card experience.
If you have had the opportunity to use the OneCard Metal Credit Card, we invite you to share your personal experience in the comments below.
FAQs
- Is there an annual fee for the OneCard Metal Credit Card? No, the OneCard Metal Credit Card does not have an annual fee.
- Can I earn reward points on wallet load and transfers? No, as reported by users, reward points are not earned on wallet load and transfers. Amazon Pay load transactions may appear as transfers.
- Which cities is the OneCard Metal Credit Card available in? Currently, the OneCard Metal Credit Card is available in 15 cities, including Pune, Mumbai, Bangalore, Ahmedabad, Baroda, Surat, and Delhi. Additional cities are expected to be added in the future.
- What is the interest rate on the OneCard Metal Credit Card? The OneCard Metal Credit Card has an interest rate of 2.5%.
- Are Visa Signature lounge privileges available with the OneCard Metal Credit Card? While Visa Signature privileges are mentioned, lounge privileges have not been confirmed yet. Please check with the issuer for the latest information on available benefits.
