Canara Bank Visa Classic/MasterCard Standard Credit Card Review

General Information

Rewards and Benefits

Fees and Charges

Summary

Credit card with no annual fees for life. Earn 2 Reward Points for every Rs. 100 spent. Receive complimentary air accident insurance coverage. Get a 2.5% waiver on fuel surcharges for all fuel transactions. Enjoy a lower monthly interest rate of 2.5%.

The Canara Bank Visa Classic/MasterCard Standard Credit Card is a great option for individuals who enjoy shopping.

With a joining fee and renewal fee of Nil, it offers a hassle-free experience.

The reward type is Reward Points, allowing you to earn 2 Reward Points on every spend of Rs. 100 while shopping.

Although there is no welcome benefit or movie dining perks, the card provides valuable insurance benefits.

You will receive an air accident cover worth Rs. 4 lakhs, a baggage insurance cover worth Rs. 25,000, and a purchase protection cover up to Rs. 25,000.

This ensures that you are protected in case of unexpected incidents while shopping.

The card does not offer specific benefits for travel, domestic lounge access, international lounge access, or golf privileges.

However, the insurance coverage provided can be useful during your travels.

When it comes to fees, there is no spend based waiver or rewards redemption fee.

However, a foreign currency markup of 3% is applicable for all foreign transactions.

The interest rate is 2.5% per month or 30% per annum, which is a standard rate for credit cards.

If you frequently fuel up your vehicle, you will enjoy the 2.5% fuel surcharge waiver on all fuel transactions worth Rs. 400 or more.

The maximum waiver is capped at Rs. 100 per month, helping you save on fuel expenses.

For cash advances, a fee of 3% of the withdrawn amount is charged, with a minimum of Rs. 30 for every withdrawal of Rs. 1,000 at Canara Bank ATMs.

Different fees apply for withdrawals made at other banks' ATMs.

In conclusion, the Canara Bank Visa Classic/MasterCard Standard Credit Card is a suitable choice for shopping enthusiasts.

While it may not offer extensive benefits for travel or lounges, the card provides valuable insurance coverage and a fuel surcharge waiver.

With no joining fee or renewal fee, it presents a cost-effective option for individuals looking to make everyday purchases and earn rewards.