In the dynamic world of fintech, Scapia Federal Bank Credit Card has emerged as a trailblazer with its revolutionary Federal Bank co-branded credit card.
This new offering sets itself apart by catering to the needs of avid travellers, boasting a unique combination of no annual fees, zero foreign exchange charges, and enticing rewards.
Let’s delve into the features that make the Scapia Federal Bank credit card a compelling choice for those with a passion for exploring the globe.
Table of Contents
Benefits and Features of Scapia Federal Bank Credit Card
| Benefits and Features | Scapia Credit Card |
|---|---|
| Welcome Benefits | |
| Cashback/Rewards Points | Earn 20% Scapia Coins when you make travel bookings and enjoy 10% Scapia Coins on all other transactions. |
| Travel Benefits | Get 20% Scapia Coins on all your travel bookings |
| Dining Benefits | N/A |
| Domestic Lounge Access | Enjoy the same benefit without limits when making transactions of Rs. 5,000 or more each month. |
| International Lounge Access | N/A |
| Movie Benefits | N/A |
| Insurance Benefits | N/A |
Fee-Free Advantage: No Annual Fees and Zero Forex Markup
One of the standout features of the Scapia Federal Bank credit card is its absence of joining or annual fees. This Lifetime Free (LTF) offering is a breath of fresh air in an industry often burdened with hidden costs. The card’s USP lies in its zero forex markup on international transactions, a game-changer for globetrotters looking to maximize their savings while travelling abroad.
Fees & Charges of Scapia Federal Bank Credit Card
| Fees & Charges | Scapia Credit Card |
|---|---|
| Joining fee | Nil |
| Annual fee | Nil |
| Fee waiver | N/A |
| Fuel surcharge | N/A |
Exclusive Rewards: 2% to 4% Back on Spending
Scapia’s commitment to rewarding its users extends beyond fee waivers. Cardholders can enjoy cashback rewards ranging from 2% to 4% on their spending. The enticing reward structure, coupled with unlimited access to domestic airport lounges, positions the Scapia Federal Bank credit card as a top contender in the competitive credit card landscape.
Co-Branded Partnership: Federal Bank Collaboration
This credit card is a product of a collaboration between Scapia and Federal Bank. While the partnership opens doors to exciting benefits, it’s important to note that individuals already holding other Federal Bank credit cards or personal loans, as well as those with OneCard and Federal Bank affiliations, are ineligible for the Scapia card. Future expansions or tie-ups with additional banks could potentially broaden the eligibility criteria.
Scapia Coins: A Unique Rewards System
Scapia’s reward system operates on a virtual currency known as Scapia Coins. While the marketing may highlight a 10% to 20% return in Scapia Coins, it translates to a practical return of 2% to 4%, with 5 Scapia Coins equating to Rs 1. The Scapia app, which serves dual purposes as a travel booking platform, enhances the rewards program, offering a 4% reward rate on flights and hotel bookings made through the app.
Redemption and Limitless Possibilities
Accumulated Scapia Coins can be redeemed exclusively through the Scapia mobile app at a rate of 5 Scapia Coins to Rs 1. However, redemption is restricted to travel bookings, and cashback options are not available. The absence of a redemption limit empowers users to fully offset their travel expenses with Scapia Coins, providing unparalleled flexibility.
Unlimited Airport Lounge Access: A Rare Gem
For a Lifetime Free credit card, the Scapia Federal Bank offering surprises users with an enviable perk – unlimited domestic airport lounge access. Achieving this privilege requires a monthly spend of Rs 5000, a relatively low threshold compared to premium credit cards that often impose more stringent conditions. This feature alone makes the Scapia card a standout choice for those who value airport lounge comfort without the hefty fees.
The Verdict: Scapia Federal Bank Credit Card – A Wise Travel Companion
In conclusion, the Scapia Federal Bank credit card stands as a formidable choice for those seeking a fee-free and travel-friendly credit card. Its no-nonsense approach to fees, coupled with the allure of zero forex markup and attractive rewards, makes it a compelling option for both occasional and frequent travellers. While eligibility restrictions may apply due to its co-branded nature, the future holds potential for broader accessibility.
As the fintech landscape evolves, Scapia has positioned itself as a key player in the quest to redefine credit card offerings. The Scapia Federal Bank credit card, with its enticing benefits, emerges as a wise and strategic companion for those looking to unlock the world without breaking the bank.
