Hello and Namaste Everyone
Sometime back I talked about Uni which is a credit card and credit service provider in India. This is a fintech company trying to build multiple products to offer innovative payment solutions. Fintech is the word where finance and technology are combined and in short, it is called Fintech. I have been using the paycheck service for more than six months and am very happy. As part of the paycheck, I get some amount every month which I can use for 15 days and I don't need to pay anything extra. I just need to repay the same amount by the due date and the bank or the company whatever you call it will not charge me anything extra.
They have recently launched their card which is a credit card with the collaboration with Yes Bank. I applied for these and got the car delivered this week. This is a free card and I don't need to pay anything for the issuance of the card however they go through the standard process that requires the CIBIL score cheque and credit history. My credit history is good so my card was approved in a couple of days and within a week I got the card delivered.
There are certain benefits with this card, which is why I thought of having it, but I haven't used it until now because I received it only this week.
Some benefits-
- It's lifetime-free with no joining fee and no annual charges
- 1% assured cashback on all spends
- 5X reward points on the spend
- Zero Forex Markup but its not for me because I don't use cards internationally.
The process was simple and completely online which is like 3 step process. I just need to initiate the application and the system will check my eligibility with the RAM or not for the card. Once it determines that I am eligible for the card then the next step is to process KYC through the video call. They verified information over the video call and made sure that everything was matching as per the profile as well and the person needed to show a government-issued identity card for the verification. I think this is a good practice because this way they can eliminate the fraudsters to get the card and it is needed to have a solid banking system with the least default.
Once both steps are processed then the 3rd step does not require any action from our side because this will be taken care of by the bank and the card will be delivered to the registered address. As per the application, this card comes with some manual fee which is part of the joining fee but there is a limited-time offer where we need not pay anything, and it is free.
So now I have the card but I have not started using this. This is my third credit card because earlier I have been using two cards from the same bank and now this is another card from a different bank. I have never used Yes Bank products and I hope to get a good experience. Because this partnership is between Uni and Yes Bank I hope uni will make sure to offer a fantastic future experience since I have been using this application for a long and so far I have never experienced any problems.
Thank you so much
Stay Safe