OneCard banking partner changed from IDFC to BOB Finance.

[ichiranjeeb]

Today, I got a notification saying some new features are available for my OneCard.
But get those features, I have to change the banking partner from IDFC to BOB Financial.

Here are the new features:

1. My Family: Share your credit limit with loved ones and give them their OneCard within minutes.
2. Auto Pay: Setup Auto Pay and enjoy timely bill payment for your OneCard
3. Subscription Hub: Manage and track all your OneCard subscriptions in one place

and after the change, I will get a new metal card and 5000 reward points after activation of the new card. Sweet.

 

[chinmay]

I too hold OneCard since August 2020 which is issued by IDFC.

I too received the communication from OneCard team asking to upgrade, since I was unsure; I dropped them an email to seek further details.
I was informed that the new card will be issued by Federal Bank.

I'm not quite clear on what would the impact be to Credit Score; since this will reflect as closing of existing CC and taking a new CC from another bank.

 

[chinmay]

My existing limit on OneCard is 1.6L; however I'm being offered guaranteed limit of 2.6L if I upgrade the same.

Since I had the card since long; I have the Metal Card already which was LTF; the upgrade offer of Metal Card doesn't add much value.
I'm two-minded if I should actually continue to use this card or close it since I'm not seeing any benefit in terms of rewards/offers.

Only USP for the card is the Metal Form factor I feel.

 

[chinmay]

If it's metal and LTF, also limit will be increased, I don't see any downsides of getting a new one.

Rest of course is upto you ...

Thanks Sir; I'm exploring the same. Mostly will continue

 

[ichiranjeeb]

My existing limit on OneCard is 1.6L; however I'm being offered guaranteed limit of 2.6L if I upgrade the same.

Since I had the card since long; I have the Metal Card already which was LTF; the upgrade offer of Metal Card doesn't add much value.
I'm two-minded if I should actually continue to use this card or close it since I'm not seeing any benefit in terms of rewards/offers.

Only USP for the card is the Metal Form factor I feel.

I think I got some value out of it.
Add-on card support is good to have and Autopay is great because CRED can't fetch OneCard bill

 

[ichiranjeeb]

Update:

If you want a metal card as your add-on card then you have to pay 3000/-
but if you opt for the plastic card, then it's free.

You can set the limit of your add-one card before applying.

 

[chacks18]

I just got an pre-approved invitation for one card, and got approved for 15k only. My card is issued by South Indian Bank.
I'm concerned over the limit upgrade in the future with this bank.
Is there anyone using the same with South Indian Bank and got limit upgrade. If yes, how much time it took?

 

[ichiranjeeb]

I just got an pre-approved invitation for one card, and got approved for 15k only. My card is issued by South Indian Bank.
I'm concerned over the limit upgrade in the future with this bank.
Is there anyone using the same with South Indian Bank and got limit upgrade. If yes, how much time it took?

When I received my card, the limit was 25,000/-. which was hilarious.
Then I got a LE and the limit increased to 50,000/-
then the day before yesterday after I changed my banking partner to BOB, I got another LE. Now my limit is 75,000/-

75K is still very very low for me but looks like they are sending LE offers every 6-12 months.

 

[chacks18]

When I received my card, the limit was 25,000/-. which was hilarious.
Then I got a LE and the limit increased to 50,000/-
then the day before yesterday after I changed my banking partner to BOB, I got another LE. Now my limit is 75,000/-

75K is still very very low for me but looks like they are sending LE offers every 6-12 months.

I wanted to know, How does this Limit enhancement works with these cards? I mean, whether you get an option there in app to apply for limit enhancement or it just gets done automatically. Also, any idea on what are the key factors to get the limit upgrade with this card like we have to use the full limit every month n all?
Please share your experience, might help others too.

 

[ichiranjeeb]

I wanted to know, How does this Limit enhancement works with these cards? I mean, whether you get an option there in app to apply for limit enhancement or it just gets done automatically. Also, any idea on what are the key factors to get the limit upgrade with this card like we have to use the full limit every month n all?
Please share your experience, might help others too.

This is how you will be notified about the LE. I have not used the card extensively because of low limits. I just tried to fulfill 3 category spends every month to get 5x points. That's all.

 

[ichiranjeeb]

Update:

Today, I got a call from IDFC bank. As per the representative, the bank is offering me an IDFC Millennia Credit card because of my existing relationship with the bank via OneCard. I don't have to send any documents. I just have to visit the link they sent via SMS, click on "I agree" and proceed. But as you guys know, I have just changed my banking partner from IDFC to BOB. So, technically I am not an IDFC customer anymore.

Looks like IDFC is capitalizing on the data they have of OneCard users and trying to convert them to their own users.
And for me, I am happy to get a new LTF card.

Moral of the story: Competition among businesses is always beneficial for the user.

@TechnoFino What's your take on it? is it ethical for IDFC to use this kind of underhanded method ??

 

[ichiranjeeb]

Nothing unethical for a bank to offer a credit card 🤔 ... In my opinion

ya, but IDFC used OneCard to get all the user data and then cut the middle man to provide the cards directly to those users.

which felt funny. But I guess, everything is fair in Business

 

[chinmay]

If it's metal and LTF, also limit will be increased, I don't see any downsides of getting a new one.

Rest of course is upto you ...

When I received my card, the limit was 25,000/-. which was hilarious.
Then I got a LE and the limit increased to 50,000/-
then the day before yesterday after I changed my banking partner to BOB, I got another LE. Now my limit is 75,000/-

75K is still very very low for me but looks like they are sending LE offers every 6-12 months.

Hello, just to check @TechnoFino and you guys;

When I had checked with OneCard team on email; they had mentioned that new card will be issued by Federal Bank.
I was even offered a higher limit of 2.6L and 10,000 bonus points to accept the upgraded.

However as checked while upgrading, the banking partner was showing as BOB Financials.

Since I've just applied for BOB Eterna CC which is under process. (VKYC and IPV done already); I did not accept the OneCard yet since I was not sure if BOB Financials will issue me 2 cards in total.

Any views on this? Should I wait for BOB Eterna to be issued and then upgrade my OneCard? or can proceed with both together?

 

[TechnoFino]

Update:

Today, I got a call from IDFC bank. As per the representative, the bank is offering me an IDFC Millennia Credit card because of my existing relationship with the bank via OneCard. I don't have to send any documents. I just have to visit the link they sent via SMS, click on "I agree" and proceed. But as you guys know, I have just changed my banking partner from IDFC to BOB. So, technically I am not an IDFC customer anymore.

Looks like IDFC is capitalizing on the data they have of OneCard users and trying to convert them to their own users.
And for me, I am happy to get a new LTF card.

Moral of the story: Competition among businesses is always beneficial for the user.

@TechnoFino What's your take on it? is it ethical for IDFC to use this kind of underhanded method ??

it's totally ethical

 

[TechnoFino]

Hello, just to check @TechnoFino and you guys;

When I had checked with OneCard team on email; they had mentioned that new card will be issued by Federal Bank.
I was even offered a higher limit of 2.6L and 10,000 bonus points to accept the upgraded.

However as checked while upgrading, the banking partner was showing as BOB Financials.

Since I've just applied for BOB Eterna CC which is under process. (VKYC and IPV done already); I did not accept the OneCard yet since I was not sure if BOB Financials will issue me 2 cards in total.

Any views on this? Should I wait for BOB Eterna to be issued and then upgrade my OneCard? or can proceed with both together?

you can go for one card bob, bob will not count this card as bob cards... so don't worry

 

[Jaydip]

Yes

 

[dealsindia2018]

I too migrated my OneCard, instead of FEDERAL, they migrated to BOB.. I had applied for BOB LTF card during the same period. My Video KYC wasn't completed yet as it was bank holiday for 2-4 days in a row.

Without my kyc completed I received and email from BOB that they can not issue card for internal reasons.

Not sure about the reason being onecard (BOB) Or video kyc not completed in time.

Limit for one card increased from 5L to 7L.
5k coins as bonus.
My friend received 10k bonus coins for upgrade.

 

[souvikdey2002]

Nice ... I was recently seeing here some people mentioning having OneCard from BOB

I'm one of them
But GOD knows why BOB take so much time issuing their own card while One Card was issued to me within a day.

 

[hriday.haria]

I too migrated my OneCard, instead of FEDERAL, they migrated to BOB.. I had applied for BOB LTF card during the same period. My Video KYC wasn't completed yet as it was bank holiday for 2-4 days in a row.

Without my kyc completed I received and email from BOB that they can not issue card for internal reasons.

Not sure about the reason being onecard (BOB) Or video kyc not completed in time.

Limit for one card increased from 5L to 7L.
5k coins as bonus.
My friend received 10k bonus coins for upgrade.

Hey .. When did you receive the offer to migrate ?

I have been waiting for it over 3 months now and still have not received the offer.

 

[dealsindia2018]

Hey .. When did you receive the offer to migrate ?

I have been waiting for it over 3 months now and still have not received the offer.

It was in 3-4th week of March that I received my upgrade offer.