The exciting television advertisement of ABN AMRO One Card where a hapless train traveler gets cashback from dacoits is quite a rage and the message it gives is that this transparent credit card will get you cashback every time, every where. If you have seen this ad, you too must be wondering what does this card have in store for you? Here is a quick review of the ABN AMRO One Card.
The card is a premium cashback credit card. Issued by ABN AMRO this MasterCard promises cashback on everything, every time, which is pretty catchy.
Talking about cashback, lets checkout how much cashback does the card actually give.
|Monthly Retail Spends ||Cashback*|
| Upto 5000|| 1%|
| 5001 to 10000|| 1.5%|
| 10001and more|| 2%|
* Effective 17th September 2007. The maximum cash back per month per card is Rs. 500. Thus, you can save a maximum of Rs. 6000 every year! Earn Extra Cash Back ...
In addition to the above mentioned cash back, you can earn extra cash back on select categories such as utility bill payments and international spends.
# Effective 17 September
| Categories||Cash Back # |
| Utility Payment||2% |
| International Retail||1% |
| International Cash||1% |
| Interest||5% |
Coming to the interest rates the ABN AMRO One Card has a regular interest rate for purchases of 3.1% per month and balance transfers at 1.49% per month. The interest rate is almost same across most credit cards on the market. Balance transfer at 1.49% is better than what most others offer.
The joining fee for ABN AMRO One Card is Rs. 295 and the standard annual/renewal fee is Rs. 595 per annum. If you want to add another person or credit card to your existing ABN AMRO One Card there is add on card fee of Rs. 295. A large number of other cards offer no joining/annual fees and also free supplementary cards.
The ABN AMRO One Card has a cash advance fee of 2.5% of the cash amount subject to a minimum of Rs. 300. If you are not able to send your monthly payments to the credit card company on time the ABN AMRO One Card has a late payment penalty of 15% of the total outstanding amount subject to a minimum of Rs. 350 and a maximum of Rs. 600. All ABN AMRO cards have the same fees.
The late payment penalty can be avoided if you continue to make the minimum payments on time to the credit card company. The minimum payment with the ABN AMRO One Card is 5% of the total outstanding payment subject to a minimum of Rs. 200.
The ABN AMRO One Card comes with a limited lost card liability feature. If your ABN AMRO One Card is stolen or lost, just report it to the customer care and the zero lost card liability protects you against any fraudulent use, from the moment you report the loss. Additionally the lost card liability on ABN AMRO One Card is Rs.100. So, you would be liable to pay at most Rs 100, if the thief makes any transactions on your card, after you have reported the card as stolen.
The ABN AMRO Cashback program has the following features:
- To save on your monthly expenditure, all you need to do is use your One Card for a minimum of Rs. 2000.
- The more purchases you make on your card, the higher is the cash back percentage you will earn.
- The cash back is not restricted to any particular category of purchase.
- You will earn cash back on all your purchases*.
- The maximum cash back per month per card is Rs.500. Thus, you can save Rs.6000 every year!
- You earn extra cash back on select categories such as utility bill payments and international spends.
Other fees associated with the ABN AMRO One Card are given below:
Over Limit Charges Max.: Rs. 500
Cheque Bounce Fee Max.: Rs. 250
Return of Cheque Fee Max.: Rs. 250
Outstation Cheque Processing Fee: Rs. 100
Dial a Draft Fee: 2.5% (Min. Rs. 300) of the cash amount
Duplicate Statement Request Charges: Rs. 100
Replacement Card Charges: Rs. 100
Emergency Replacement (when overseas): $ (US) 148
Foreign Currency Transaction Charges: 3%
Retrieval Fee/Copy Request Fee: Rs.100
Service Tax: 12.36%