BoB CMA One Credit Card – Best credit card in India

The BoB CMA One Credit Card, launched by the Bank of Baroda through its subsidiary BoB Financial Services Ltd, is unique in every way and was designed specifically for the members of the Institute of Cost Accountants of India (ICMAI). Launched into the market for its value proposition of focused benefits, it features a lifetime free credit card, which costs only Rs. 1 to join. 

It has been highly praised since its launch, and referring to the card provides extensive privileges in terms of rewards, traveling, and insurance service. CMA One Credit Cardholders receive bonuses on spending, completion of spending milestones, access to free airport lounges, and lower markups on foreign exchange for international transactions. Also, apart from daily spending, the card offers accident insurance of up to Rs. 15 lakhs and no annual fees, which makes the Bob credit card very attractive and financially secure to all ICMAI members.

BoB CMA One Credit Card Features and Benefits

1. Welcome Benefits
   • FitPass Pro Membership: A complimentary 6-month FitPass Pro membership that provides access to multiple fitness centres and online workout sessions.
   • Bonus Reward Points: Get 1,000 bonus Reward Points when you activate your card within the first 30 days of issuance.
2. Travel Benefits
   • Domestic Lounge Access: Enjoy 12 complimentary domestic lounge visits per year (capped at 3 visits per quarter).
   • Forex Markup Fee: A reduced 2% foreign currency markup on international transactions, making this card ideal for global spending.
3. Insurance Coverage
   • Air Accident Insurance: Rs. 15 lakhs of complimentary air accident insurance cover.
   • Non-Air Accident Insurance: Rs. 5 lakhs insurance cover against death due to non-air accidents.
   • Professional Indemnity Insurance: Rs. 5 lakhs indemnity insurance, exclusive to ICMAI members.
4. Fuel Surcharge Waiver
   • 1% Waiver: Get a 1% fuel surcharge waiver on transactions between Rs. 400 and Rs. 5,000 at fuel stations across India.
   • Monthly Cap: The maximum waiver amount is capped at Rs. 250 per month.
5. Additional Benefits
   • Contactless Payments: The card supports contactless transactions, making it convenient for everyday use.
   • No Reward Points on Fuel: Fuel transactions do not accrue Reward Points, but the fuel surcharge waiver still applies.

How To Earn and Redeem BoB CMA One Credit Card Reward Points

How To Earn BoB CMA One Credit Card Reward Points

1. Base Rewards:
   • You earn 1 reward point for every Rs. 100 spent on general retail transactions, making everyday purchases more rewarding.
2. Accelerated Rewards:
   • 5x Reward Points: You can earn 5 Reward Points for every Rs. 100 spent in specific categories:
     • Utility Bill Payments (like electricity, water, etc.)
     • Dining (restaurants and food services)
     • Online Purchases (e-commerce transactions)
3. Bonus Rewards:
   • 1,000 Bonus Reward Points Monthly: Cardholders can earn 1,000 bonus points each month by meeting the spending milestone requirements.
   • Milestone Rewards: You can earn up to 16,000 bonus Reward Points annually by spending Rs. 1 lakh or your total credit limit, whichever is higher, per quarter.
4. Transactions Exempt From Earning Points:
   • Fuel Transactions: While fuel purchases do not earn Reward Points, you still benefit from the 1% fuel surcharge waiver.

How To Redeem BoB CMA One Credit Card Reward Points

1. Redemption Rate:
   • 1 reward point = Re. 0.25.
   • Your accumulated reward points can be converted into cashback or other exciting options through the Bank of Baroda Rewards Portal.
2. Redemption Options:
   • Cashback: You can convert your Reward Points into cashback to reduce your credit card bill or other expenses.
   • Products and Vouchers: You can also redeem points for products, gift vouchers, and services available in the Bank of Baroda Rewards Portal.
3. No Redemption Fee:
   • Unlike many credit cards, the BoB CMA One Credit Card does not charge a fee for redeeming your reward points.

BoB CMA One Credit Card Fees and Charges

1. Interest Rate on Outstanding Balances: 3.49% per month (41.88% annually). This rate is applied to any unpaid balance after the due date.
2. Foreign Currency Markup: 2% of the total foreign transaction amount.
3. Cash Advance Fees
   • Domestic ATM Withdrawals: 2.5% of the withdrawn amount or a minimum of Rs. 300.
   • International ATM Withdrawals: 3% of the withdrawn amount or a minimum of Rs. 300.
4. Fuel Surcharge Waiver
   • Fuel surcharge waiver: 1% on fuel transactions between Rs. 400 and Rs. 5,000.
   • Monthly Cap: The maximum fuel surcharge waiver is capped at Rs. 250 per month.
5. Late Payment Fee
   • Up to Rs. 100: Nil.
   • Rs. 101 to Rs. 500: Rs. 100.
   • Rs. 501 to Rs. 5,000: Rs. 500.
   • Rs. 5,001 to Rs. 10,000: Rs. 750.
   • Above Rs. 10,000: Rs. 1,000.
6. Overlimit Fee: 2.5% of the overlimit amount, subject to a minimum of Rs. 500.
7. Reward Redemption Fee: Nil.
8. Duplicate Statement Fee: Rs. 100 per statement (if requested beyond the last two billing cycles).
9. Card Replacement Fee
   • Domestic Card Replacement: Rs. 100.
   • International Card Replacement: Rs. 1,000.

BoB CMA One Credit Card Product Details

1. This card is issued exclusively for ICMAI members, offering tailored benefits for professionals.
2. Earn 1 reward point for every Rs. 100 spent on general purchases and 5x reward points on dining, utility bills, and online transactions.
3. Enjoy a 6-month complimentary FitPass Pro membership and 1,000 bonus Reward Points upon card activation within 30 days.
4. Get 12 complimentary domestic lounge visits per year (3 per quarter) and a reduced forex markup of 2% for international transactions.
5. Includes Rs. 15 lakhs of air accident insurance and Rs. 5 lakhs of non-air accident insurance for added security.
6. Receive a 1% fuel surcharge waiver on transactions between Rs. 400 and Rs. 5,000, capped at Rs. 250 per month.
7. Earn up to 16,000 bonus Reward Points annually by meeting quarterly spending targets.

BoB CMA One Credit Card Eligibility Criteria

1. ICMAI Membership: The applicant must be an active and eligible member of the Institute of Cost Accountants of India (ICMAI).
2. Income Requirements:
   • Salaried Individuals: Minimum gross annual salary of ₹4.8 lakhs.
   • Self-employed Individuals: Minimum annual income of ₹3 lakhs as per Income Tax Return (ITR).
3. Age:
   • Primary Cardholder: Must be between 21 to 75 years old.
   • Add-on Cardholder: Must be 18 years of age or older.

Documents Required For BoB CMA One Credit Card

1. ICMAI Membership Proof: A valid photocopy of the ICMAI membership card.
2. PAN Card: A photocopy of the applicant’s PAN card.
3. Address Proof: Any of the following Aadhar Card, Passport, or recent utility bills.
4. Income Proof:
   • For Salaried Individuals: Latest salary slips or Form 16.
   • For Self-employed Individuals: Latest audited ITR.
5. Photograph: A recent passport-sized photograph.

How To Apply For The Bank of Baroda CMA Credit Card

• Visit the official Bank of Baroda website.
• Navigate to the CMA One Credit Card section and click on “Apply Now.”
• Fill out the online application form with the necessary details.
• Upload the required documents and submit your application.

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