[{"id": 609946, "created": "2025-07-26T16:44:05.759140", "project_id": 291, "task_id": 647340, "user_id": 315, "user_ip": null, "finish_time": "2025-07-26T16:44:25.828402", "timeout": null, "calibration": null, "external_uid": null, "media_url": null, "info": {"id": "n310499162", "text": " In the competitive credit card segment to acquire new customers, Bank of Baroda (BOB) had announced a lifetime free credit card offer, if you apply in August (it is a limited period offer according to the bank website). Now, the bank has unexpectedly announced a devaluation in rewards and benefits on Easy, Swavlamban and Select credit cards. The changes are effective from September 15. \"The devaluation of rewards and withdrawing certain benefits are giving a wrong signal to the existing and prospective customers of the bank's credit card,\" says a spokesperson from www.creditcardz.in. He adds that this announcement has come in the short-span of time after announcing good news of a lifetime free credit card offer. With the sudden decision of withdrawal of certain benefits, the customers won't be able to trust the banks' existing features. Moneycontrol reached out to Bank of Baroda to understand the reasoning behind the withdrawal of cashback benefits and the devaluation of reward points. But, the bank did not respond till the time of publishing this story.  Withdrew cashback benefit on card repayment  BOB's Easy and Swavlamban credit cards have a feature of 0.5 percent cashback on repayment of credit card dues. The cashback gets credited in the next month's statement. The bank has announced the withdrawal of this benefit effectively from September 15 on both credit cards. Close  Devalued redemption value of reward points  When you swipe the credit card for shopping from stores or online, you earn the reward points. After you accumulate a chunk of such reward points, you can redeem them to buy items of your choice. Or you can even use them to pay your card dues. At present, the redemption value of one reward point is 25 paise. In simple words, one reward point used to earn you items worth 25 paise. Effective from September 15, the redemption value of 1 point has gone down to 20 paise on Easy and Swavlamban credit cards. In case you have accumulated reward points on these credit cards, you can still redeem them before September 15 at the existing rates before they get revised.  Also read: Citibank to sell credit cards business: Should you use your card, will your credit score be hit-all your questions answered    Withdrew bonus reward points feature  One of the main features of BOB's Select credit card is that it allows you to earn 1,000 bonus reward points on five transactions of more than Rs 1,000 per month. This is in addition to the usual reward points you earn for every transaction. With effect from September 15, the bank has withdrawn this bonus reward point benefit on this card.  Increase in charges applicable to all credit cards  A late payment fees is charged by the bank on all credit cards if the minimum amount on the statement is not paid by the due date. The bank has increased the late payment charges for the higher due amount. For instance, if more than Rs 25,000 is due on your credit card statement, your BOB cards bank charges Rs 950 at present. From September 15, this charge would be Rs 1,100, if you have between Rs 25,001 and Rs 50,000 as dues. If you have more than Rs 50,001 due, then your new late payment penalty will be Rs 1,300. In case you exceed the credit limit there are bank charges applicable. The charges are 2.5 percent of the amount over and above the sanctioned credit limit or Rs 500, whichever is higher. From September 15, it is being increased to 2.5 percent of the amount over and above the sanctioned credit limit or Rs 600, whichever is higher.  Should you continue with BOB credit cards?  After devaluing the reward points, withdrawing cashback benefits and bonus reward points, there is not much appeal left in the offerings. Bank has increased charges on credit cards which is now at par with some private banks. At present, premium card BOB Eterna is the only card worth holding which has multiple rewards continued. But, new applicants will not get this card due to ban on Mastercard for issuing new cards. Further, BOB does not have co-branded card options, specific types of cards such as fuel cards, shopping cards, travel cards etc. in their portfolio. \"The consumers should lay more emphasis on the suitability and utility of various benefits offered by the card than waive off on annual fees during the card selection process,\" says Sahil Arora, Senior Director at Paisabazaar.com.If you are applying for a fresh credit card, there is no compulsion in applying for one from the bank where you have your savings account. Although, it is convenient to have your card and savings bank account from the same bank for ease of bill payments. ", "clarity": "very_clear", "headline": "Bank of Baroda's U-Turn: After offering lifetime free credit cards, bank announces downgrades, withdraws features", "faithfulness": "faithful", "plausibility": "plausible", "informativeness": "very_informative"}}, {"id": 617438, "created": "2025-08-08T09:18:08.970352", "project_id": 291, "task_id": 647340, "user_id": 325, "user_ip": null, "finish_time": "2025-08-08T09:19:14.140318", "timeout": null, "calibration": null, "external_uid": null, "media_url": null, "info": {"id": "n310499162", "text": " In the competitive credit card segment to acquire new customers, Bank of Baroda (BOB) had announced a lifetime free credit card offer, if you apply in August (it is a limited period offer according to the bank website). Now, the bank has unexpectedly announced a devaluation in rewards and benefits on Easy, Swavlamban and Select credit cards. The changes are effective from September 15. \"The devaluation of rewards and withdrawing certain benefits are giving a wrong signal to the existing and prospective customers of the bank's credit card,\" says a spokesperson from www.creditcardz.in. He adds that this announcement has come in the short-span of time after announcing good news of a lifetime free credit card offer. With the sudden decision of withdrawal of certain benefits, the customers won't be able to trust the banks' existing features. Moneycontrol reached out to Bank of Baroda to understand the reasoning behind the withdrawal of cashback benefits and the devaluation of reward points. But, the bank did not respond till the time of publishing this story.  Withdrew cashback benefit on card repayment  BOB's Easy and Swavlamban credit cards have a feature of 0.5 percent cashback on repayment of credit card dues. The cashback gets credited in the next month's statement. The bank has announced the withdrawal of this benefit effectively from September 15 on both credit cards. Close  Devalued redemption value of reward points  When you swipe the credit card for shopping from stores or online, you earn the reward points. After you accumulate a chunk of such reward points, you can redeem them to buy items of your choice. Or you can even use them to pay your card dues. At present, the redemption value of one reward point is 25 paise. In simple words, one reward point used to earn you items worth 25 paise. Effective from September 15, the redemption value of 1 point has gone down to 20 paise on Easy and Swavlamban credit cards. In case you have accumulated reward points on these credit cards, you can still redeem them before September 15 at the existing rates before they get revised.  Also read: Citibank to sell credit cards business: Should you use your card, will your credit score be hit-all your questions answered    Withdrew bonus reward points feature  One of the main features of BOB's Select credit card is that it allows you to earn 1,000 bonus reward points on five transactions of more than Rs 1,000 per month. This is in addition to the usual reward points you earn for every transaction. With effect from September 15, the bank has withdrawn this bonus reward point benefit on this card.  Increase in charges applicable to all credit cards  A late payment fees is charged by the bank on all credit cards if the minimum amount on the statement is not paid by the due date. The bank has increased the late payment charges for the higher due amount. For instance, if more than Rs 25,000 is due on your credit card statement, your BOB cards bank charges Rs 950 at present. From September 15, this charge would be Rs 1,100, if you have between Rs 25,001 and Rs 50,000 as dues. If you have more than Rs 50,001 due, then your new late payment penalty will be Rs 1,300. In case you exceed the credit limit there are bank charges applicable. The charges are 2.5 percent of the amount over and above the sanctioned credit limit or Rs 500, whichever is higher. From September 15, it is being increased to 2.5 percent of the amount over and above the sanctioned credit limit or Rs 600, whichever is higher.  Should you continue with BOB credit cards?  After devaluing the reward points, withdrawing cashback benefits and bonus reward points, there is not much appeal left in the offerings. Bank has increased charges on credit cards which is now at par with some private banks. At present, premium card BOB Eterna is the only card worth holding which has multiple rewards continued. But, new applicants will not get this card due to ban on Mastercard for issuing new cards. Further, BOB does not have co-branded card options, specific types of cards such as fuel cards, shopping cards, travel cards etc. in their portfolio. \"The consumers should lay more emphasis on the suitability and utility of various benefits offered by the card than waive off on annual fees during the card selection process,\" says Sahil Arora, Senior Director at Paisabazaar.com.If you are applying for a fresh credit card, there is no compulsion in applying for one from the bank where you have your savings account. Although, it is convenient to have your card and savings bank account from the same bank for ease of bill payments. ", "clarity": "very_clear", "headline": "Bank of Baroda's U-Turn: After offering lifetime free credit cards, bank announces downgrades, withdraws features", "faithfulness": "very_faithful", "plausibility": "highly_plausible", "informativeness": "very_informative"}}]