Bajaj DBS Credit Card Review

In today's fast-paced world, a credit card that offers a multitude of benefits and rewards can significantly enhance your lifestyle. The DBS Bank Bajaj Finserv 5X Rewards Credit Card, powered by Visa, is a co-branded offering that combines the expertise of DBS Bank and Bajaj Finserv, providing customers with an array of attractive features and benefits. From welcome bonuses to accelerated rewards, fuel surcharge waivers, to cashback benefits, this credit card has something to offer for every lifestyle.

In this blog post, we will review this credit card's features, benefits, eligibility criteria, and application process and help you decide if it suits your lifestyle and needs.

Features of the Bajaj Finserv DBS Bank Credit Card

The DBS Bank Bajaj Finserv 5X Rewards Credit Card boasts an impressive range of features and benefits that make spending an enjoyable experience. 

Let’s look at these features and understand if they are really worth it.

1. Earn 1X Reward Points

You can earn 2 cash points for every ₹200 you spend on anything except fuel and cash withdrawals. The cash points will be rounded down to the nearest whole number and will show up in your card account when the transaction is posted.

2. Monthly Milestone Reward: Earn 5X Reward Points

When you reach a spending milestone of ₹10,000 on all purchases, excluding fuel spending and cash withdrawals, you become eligible for 5X rewards. Additionally, you earn an extra 8 cash points for every ₹200 spent beyond the 1X rewards, with a maximum cap of 3,000 monthly points. The cash points earned will reflect on the statement generation date in your account.

3. 10X Rewards – DBS Card + IN App spends

The DBS Bajaj Finserv 5X Rewards Credit Card offers 10X rewards on eligible spends made through the rewards platform within the DBS Card + IN app. For every ₹200 spent, you receive an additional 18 cash points beyond the 1X rewards. However, it's important to remember that flight bookings made through the DBS Card + IN app are not eligible for 10X cash points. Similar to the monthly milestone rewards, the maximum additional cash points earned are limited to 3,000 per month.

4. No Annual Fee

As for the annual fee of the DBS Bajaj Finserv 5X Rewards Credit Card, there is no charge for the first year. However, a yearly fee of ₹499 + GST may be applicable from the next membership year. You can qualify for an exemption from this fee if you spend ₹50,000 or more on your card within the membership year.

5. Fuel Surcharge Waiver

Cardholders can enjoy a fuel surcharge waiver of 1% (+GST) for transactions between ₹400 and ₹4,000. This waiver is applicable to fuel transactions and is reversed on the statement for eligible transactions. It's important to note that the maximum fuel surcharge waiver per statement cycle is ₹100.

6. Cashback on Down Payments

For those making down payments on No-cost EMI loans at any Bajaj Finserv network partner stores or through the EMI marketplace, the DBS Bajaj Finserv 5X Rewards Credit Card offers a 5% cashback. To avail of this benefit, simply use the 5X Rewards SuperCard for your purchase, with a maximum eligibility of ₹500 per transaction.

7. Reward Point Redemption and Membership Benefits

You can redeem your cash points in various ways with the DBS Bajaj Finserv 5X Rewards Credit Card. Options include gift voucher redemption via the DBS Cards + IN App, redemption against hotel bookings through the app, and even redeeming cash points against your credit card's outstanding balance. 

Cardholders can also enjoy exclusive membership benefits, such as the Bajaj Finserv Health Prime Membership for the Bajaj Health App. This membership offers a range of benefits, which can be viewed on the app itself. The health plan remains valid for 12 months from registration on the portal, and renewal is possible upon payment of the required fees.

Fees and Charges

Who can Apply for a Bajaj Finserv DBS Credit Card?

The applicant should fulfil the following eligibility criteria:

1. Nationality: Indian
2. Age: 21 to 70 years.
3. Income: Applicants must have a stable source of income to be eligible for this credit card.

Other than meeting the above criteria, the applicant must have a valid Aadhaar card and PAN card.

How to Apply for the DBS Bajaj Finserv 5X Rewards Credit Card?

1. Visit the select.finology.in website.
2. Go to the Credit Card section and click on 'Card Issuers'.
3. Select DBS Bank and choose the DBS Bajaj Finserv 5X Rewards credit card.
4. Click on 'Apply Now', and you will be redirected to the Bajaj Finserv website.
5. Fill in the online application form with your personal and financial details.
6. Upload the necessary documents, including proof of identity, address proof, and income proof.
7. Review all the information you have provided to ensure accuracy.
8. Submit your application and wait for confirmation.
9. Once submitted, you will receive an application reference number to track the status of your application.

By following these simple steps, you can easily apply for the DBS Bajaj Finserv 5X Rewards Credit Card and take advantage of its impressive benefits and features.

Who Should Apply For The DBS Bajaj Finserv 5X Rewards credit card?

The Bajaj Finserv DBS Credit Card caters to individuals who lead a lifestyle involving frequent shopping and travelling, aiming to maximise rewards and enjoy discounts along the way. This credit card offers a plethora of benefits, including exclusive lounge access, fuel benefits, enticing discounts on memberships, and the added convenience of converting purchases into affordable EMIs. It presents an excellent option for those seeking convenience and a multitude of perks. 

The card truly shines with its remarkable features, such as the potential to earn up to 10x rewards in the form of cash points on monthly spends, accelerated rewards on all purchases made through the Bajaj Finance Limited and DBS mobile application, and exciting opportunities for discounts, cashback, and more throughout the year. 

However, it's essential to consider a few aspects that could be improved, including a high card replacement fee, charges on reward redemptions, a two-year validity period for cash points, the absence of a welcome bonus for this specific card variant, and a monthly restriction of 3,000 points for cash point earnings.

Conclusion

The DBS Bank Bajaj Finserv 5X Rewards Credit Card is a co-branded offering that combines DBS Bank's and Bajaj Finserv's expertise. With features like up to 5x rewards, accelerated rewards, fuel surcharge waivers, and the ability to convert purchases into EMIs, this credit card is perfect for frequent shoppers and travellers. Applying for the card is simple through Select by Finology. So, what is holding you back? Declutter your wallets, eliminate the need to have multiple credit cards, elevate your spending experience and enjoy the perks of being a cardholder today!