RBL Bank Platinum Maxima Credit Card

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RBL Bank Platinum Maxima Credit Card

RBL Bank Platinum Maxima Credit Card is targeted at people who prioritise reward points over other benefits. This credit card also offers complimentary airport lounge access, milestone spends benefit and free BookMyShow tickets. Furthermore, you get accelerated rewards for spends on dining, entertainment, utility bill payments, fuel and international purchases.

FinTown Rating: 2.5/ 5

Rating by Category: 

Annual Fee                                              2.5
Rewards Rate 3
Annual Bonus 3
APR 2
  • The Annual Membership Fee for this credit Card is INR 2,000, which is rather on the higher side.
  • The rewards rate for the RBL Maxima Credit Card varies between 0.5% to 2.5%, which is above average, hence, we give it a rating of 3.
  • The annual bonus for this credit card is rather good due to the milestone spend benefit one receives on meeting the criteria for milestone benefit.
  • The Annual Percentage Rate or annualized interest rate for all RBL cards are rather high. Hence, a below average rating of 2 is justified.

Pros & Cons:

Reasons to Choose  Reasons to Avoid  
Airport Lounge Access High interest rate
Milestone Spend benefit No golf privileges
BookMyShow Offers

Rewards/ Benefits – RBL Movies and More Credit  Card

Welcome Benefit

The RBL Platinum Maxima Credit Card offers 8,000 reward points as welcome offer.

Rewards Structure

  • 2 reward points on every INR 100 spent.
  • 5X rewards on dining spends,  entertainment, utility bill payments, fuel and international purchases.

Airport Lounge Access

2 Complimentary Airport Lounge Access Visits  per quarter at all major domestic airports in India.

Annual Spends Benefit

On spending INR 2 Lakhs, you get INR 10,000 reward points. You will receive an additional 10,000 bonus reward points on crossing INR 3.5 lakhs of annual spends on the card.

BookMyShow Offers

You get one complimentary movie ticket worth INR 200 (or less) every month on the purchase of 2 or more tickets at BookMyShow.

Is the Rewards Rate good?

For RBL credit cards, 1 reward point equals INR 0.25.

Case 1: 2 Reward points per INR 100 on all purchases excluding the categories in Case 2

On spending INR 100, you get 2 reward points i.e INR 0.25* 2 = INR 0.5. Therefore, the rewards rate is 0.5%

Case 2: 10 Reward points per INR 100

On spending INR 100, you get 10 reward points i.e. INR 0.25 *10 = INR 2.5.  Therefore, the rewards rate is 2.5%. This is applicable to spends on dining, entertainment, utility bill payments, fuel and international purchases.

Is this card for you?

This card is for you  if:

  • A high-interest rate and Annual Fee does not bother you: The Annual Fee for this card is INR 2,000 and the APR for it is 42%. If you can pay your credit card bills in full every month, this should not concern you.
  • You want free access to only domestic airport lounges: This credit card allows 2 free access to domestic airport lounges every quarter. However, RBL Platinum Maxima does not allow access to domestic airports in India.
  • Earning Cash back is not your goal: Since this credit card offers only rewards, earning cash back on your expenditures is not possible.

RBL Platinum Maxima Credit Card – Payments & Fees:

Annual Fee INR 2,000
Foreign Transaction Markup Fee 3.5% of the transaction amount
Cash Withdrawal Fee 2.5% of the withdrawal amount  (minimum INR 300)
Late Payments Fee  15% of Total Amount Due (Min INR  350 and
Max INR 1,000)
Overlimit Penalty  INR 600
Credit Card Replacement Fee  INR 200
Railway Ticket Surcharge Fee 1.8% of the transaction amount + IRCTC Service Taxes

How to Redeem Rewards – RBL Platinum Maxima Credit Card

To redeem your reward points, you need to log in to the RBL Rewards page. After logging in, you can redeem your points for flights hotels, lifestyle vouchers etc. However, you need to redeem at least 1,000 points in a single instance.

How to get the most out of this card?

To get the most out of this card, you should be able to reach milestone spend requirement INR 2 Lakhs or INR 3.5 Lakhs. This will give you 10,000 bonus reward points.

Furthermore, you can earn up to 70,600 reward points on an annual spend of INR 4.5 lakhs. These 70,000 reward points are worth INR 17,650. Additionally, you can save up to INR 2400 on movie tickets every year.

Application Requirements or Eligibility Criteria

  • KYC-PAN, Address proof and ID Proof
  • One photograph
  • Salary slip/Form 16
  • A good credit history

Negative Customer Feedback:

Based on 96 reviews on mouthshut.com, the RBL Platinum Maxima Credit Card has received a rating of 1.71 out of 5. Most card users complain that the BookMyShow offer of buy 1 get 1 offer works only in the first month of card issuance. Since this offer is based on monthly quota, most people are unable to avail this offer. Moreover, RBL Bank has a limited number of branches and does not do very well when it comes to customer service.

Please note that mouthshut.com is a consumer complaint forum and mostly highlights negative experiences.

Other Credit Cards with similar/better Features: 

Standard Chartered Manhattan Platinum Credit Card (Low Annual Fee)

Unlike the RBL Platinum Maxima credit card which comes at an annual fee of INR 2,000, the Standard Chartered Manhattan Platinum Credit Card can be availed at an annual fee of INR 999. Moreover, it offers better rewards than the RBL Platinum Maxima Credit Card.

Standard Chartered Yatra Platinum Credit Card (Low Annual Fee)

Another credit card that you could look at is the SC Yatra Platinum Credit Card that comes with an annual membership of INR  499. This card offers a lower annual fee and a better rewards programme, especially travel rewards/cash back. You get a 10% cash back on bookings made through yatra.com. Additionally, you get 20% cash back on Uber rides with this credit card.

RBL Movies and More Credit Card (For movie offers)

The RBL Bank Movies and More credit card is the best card in the movies category. It offers monthly spend benefit, milestone bonus, BookMyShow offers, accelerated rewards on dining on Wednesdays, Fuel Surcharge Waiver and Annual Fee Reversal. With rewards worth INR 20,000+, this credit card is value for money for anyone who loves watching movies or eating at Pizza Hut and KFC.

How to Apply for RBL Platinum Maxima Credit Card?

Fill in your name, gender, mobile number, email id etc and the officer concerned will contact you.
APPLY NOW.

Bottom Line

The RBL Bank Platinum Maxima Credit Card comes at an annual fee of INR 2,000, which is rather high as compared to the rewards that it offers. Therefore, it would be smarter to check out other credit cards with similar annual fee or benefits before applying for this credit card. What makes this credit card worth having is the milestone spend benefit and the 10 reward points that you earn on every INR 100 spent on dining, entertainment, utility bills, fuel and international spends. Besides that, there is not much that would make this card exciting.

FinTown Advantage:  We provide unbiased personal finance advice to help people make the best possible financial decisions. Our reviews and ratings of financial products are determined by customer financial wellbeing and not profiteering. Whether or not we make a penny, we do what is best for the customer. Our research team is made up of economists and market researchers who spend hundreds of hours researching and comparing products with the same mission in mind.

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