Travel Smarter With Scapia Credit Card: Exclusive Travel Rewards

Introduction

The Scapia credit card is a new co-branded card launched by Federal Bank and Scapia, a travel booking app. It is a lifetime free credit card that offers rewards and benefits for frequent travellers. The card offers Scapia Coins as reward points on most of the spends, except for some excluded categories. The reward rate is 10% on all online and offline transactions, and 20% on travel bookings made on the Scapia app. The Scapia Coins can be redeemed for flight tickets and hotel bookings on the app, with 5 coins equal to Rs. 1. The coins do not expire and have a lifetime validity, unless the card is not used for more than 365 days1.

The card offers zero forex markup fees on international transactions, which is a rare feature for a lifetime free card. It also offers unlimited domestic lounge access, provided the cardholder spends at least Rs. 5,000 on flight tickets in the same month1. The card also provides complimentary travel insurance cover up to Rs. 50 lakhs.

Benefits of Scapia Credit Cards

You can earn Scapia Coins as reward points on most of your online and offline transactions, except for some excluded categories. The reward rate is 10% on all transactions, and 20% on travel bookings made on the Scapia app. You can use your Scapia Coins to book flights and hotels on the app, with 5 coins equal to Rs. 1.
You can enjoy zero forex markup fees on international transactions, which means that you do not have to pay any extra charge for converting your currency from Indian rupees to the foreign currency. This is a rare feature for a lifetime free card, as most other cards charge a forex markup fee of 2% to 4% on international transactions.
You can also get unlimited domestic lounge access, provided you spend at least Rs. 5,000 on flight tickets in the same month. This can enhance your travel experience and comfort.
You can also get complimentary travel insurance cover up to Rs. 50 lakhs. This can protect you from unforeseen events and risks while travelling.
You can also enjoy a fully digital and instant application process on the Scapia app. You can get a virtual card that you can activate and use immediately, and your physical card will be delivered to your address within 2-5 days.

Pros and Cons of Scapia credit cards

The Scapia credit card is a co-branded card launched by Federal Bank and Scapia, a travel booking app. It is a lifetime free credit card that offers various benefits for frequent travellers. However, it also has some limitations and drawbacks that you should consider before applying. Here are some of the pros and cons of the Scapia credit card:

Pros:

You can earn Scapia Coins as reward points on most of your online and offline transactions, except for some excluded categories. The reward rate is 10% on all transactions, and 20% on travel bookings made on the Scapia app. You can use your Scapia Coins to book flights and hotels on the app, with 5 coins equal to Rs. 2.
You can enjoy zero forex markup fees on international transactions, which means that you do not have to pay any extra charge for converting your currency from Indian rupees to the foreign currency. This is a rare feature for a lifetime free card, as most other cards charge a forex markup fee of 2% to 4% on international transactions.
You can also get unlimited domestic lounge access, provided you spend at least Rs. 5,000 on flight tickets in the same month. This can enhance your travel experience and comfort.
You can also get complimentary travel insurance cover up to Rs. 50 lakhs. This can protect you from unforeseen events and risks while travelling.
You can also enjoy a fully digital and instant application process on the Scapia app. You can get a virtual card that you can activate and use immediately, and your physical card will be delivered to your address within 2-5 days.

Cons:

The Scapia Coins can only be redeemed for travel bookings on the Scapia app, and not for any other category spends or cashback. This limits your redemption options and flexibility.
The card charges a foreign transaction fee of 3.5% on all international transactions, which is higher than some other cards that charge 2% to 3%. This means that you will still have to pay an extra charge for using your card abroad.
The card does not offer any airport lounge access for international flights, which may be disappointing for some travellers who want to enjoy this benefit while travelling abroad.
The card does not offer any rewards or benefits for international transactions, which may reduce its value proposition for travellers who want to earn rewards on their foreign spends.
The card has some excluded categories for earning rewards, such as rent, cash withdrawals, money transfer, EMI transactions, and digital wallet loading and top-up transactions. This may affect your reward earning potential if you use your card for these categories.

What is the eligibility criteria for Scapia credit card?

The eligibility criteria for the Scapia credit card are not clearly defined by the issuer, but you can consider the following as basic requirements:

You must be a resident of India and have a serviceable address.
You must have a good credit score and a steady source of income.
You must have a valid PAN card and a minimum annual income of INR 3 lakhs.

If you meet these criteria, you can apply for the Scapia credit card through the Scapia app or the Federal Bank website. You will need to complete a KYC verification process using your Aadhaar and PAN card details. You will receive an instant approval and a virtual card that you can use immediately. Your physical card will be delivered to your address within 2-5 days.

How do I apply for Scapia credit card?

To apply for the Scapia credit card, you need to follow these steps:

Download the Scapia app from the Google Play Store or the App Store.
Open the app and sign up with your email address or mobile number.
Tap on the “Credit Card” option on the home screen and fill in your basic details for eligibility check.
If you are eligible, you will see a pre-approved offer for the Scapia credit card. Tap on “Apply Now” and complete the KYC verification process using your Aadhaar and PAN card details.
You will receive an instant approval and a virtual card that you can activate and use immediately. Your physical card will be delivered to your address within 2-5 days.

What is the credit limit of Scapia credit card?

The credit limit of the Scapia credit card is not fixed and depends on various factors, such as your income, credit score, repayment history, and other eligibility criteria. The issuer, Federal Bank, will determine your credit limit based on your profile and application details. You can check your credit limit on the Scapia app or on your monthly statement.

You can also set your own transaction and cash withdrawal limit on the Scapia app, according to your preference and spending habits2. This can help you manage your credit card usage and avoid overspending. You can change your limit anytime on the app as per your convenience.

The interest-free credit period on the Scapia credit card could range up to 48 days, subject to the scheme applicable on the card and the submission of claims by the merchant3. This means that you can enjoy interest-free purchases for up to 48 days from the date of transaction, if you pay your full outstanding balance by the due date. However, if you only pay the minimum amount due or any amount less than the total amount due, you will be charged interest on the unpaid balance and on all new transactions from the date of transaction.

Can I use this card abroad without any charges?

No, you cannot use this card abroad without any charges. According to the web search results, the Scapia credit card charges a foreign transaction fee of 3.5% on all international transactions. This means that every time you use your card abroad, you will have to pay an extra 3.5% of the amount you spend in Indian rupees.

However, the Scapia credit card does offer a zero forex markup fee on international transactions2. This means that you will not have to pay any extra charge for converting your currency from Indian rupees to the foreign currency. This is a rare feature for a lifetime free card, as most other cards charge a forex markup fee of 2% to 4% on international transactions.

Therefore, if you use the Scapia credit card abroad, you will only have to pay the foreign transaction fee of 3.5%, which is still lower than the total charges of other cards that include both the foreign transaction fee and the forex markup fee. However, if you want to avoid any charges on international transactions, you may want to consider other cards that do not charge any foreign transaction fees, such as Capital One or Discover cards.

What is the interest rate on Scapia credit card?

The interest rate on the Scapia credit card is the annual percentage rate (APR) that is charged on the outstanding balance if you do not pay the full amount by the due date. The APR on the Scapia credit card is 36% per annum or 3% per month1. This means that if you have an outstanding balance of Rs. 10,000 on your card, you will be charged Rs. 300 as interest for that month.

However, you can avoid paying any interest on your purchases if you pay the full amount by the due date. The interest-free credit period on the Scapia credit card could range up to 48 days, subject to the scheme applicable on the card and the submission of claims by the merchant1. This means that you can enjoy interest-free purchases for up to 48 days from the date of transaction, if you pay your full outstanding balance by the due date.

The interest rate on the Scapia credit card is comparable to other credit cards in India, which usually charge between 30% to 40% APR. However, some credit cards may offer lower interest rates or introductory offers with 0% APR for a limited period.

EMI option on Scapia credit card

Yes, you can convert your purchases into EMIs with the Scapia credit card, subject to some terms and conditions. According to the web search results, here are some of the details about the EMI option on the Scapia credit card:

No-Cost EMI: The feature of converting the travel spends made on the Scapia App into 3 month no-cost EMIs is expected to be offered to the cardholders soon. This means that you can book your flights and hotels on the app and pay in easy installments without any interest or processing fees.

EMI on Other Purchases: You can also convert your other purchases of Rs. 3,000 or more into EMIs with a tenure ranging from 3 to 24 months. The interest rate and processing fee will vary depending on the amount, tenure, and merchant category of your purchase. You can check the EMI options available for your purchase on the Scapia app or by calling the customer care number.

Impact on Credit Limit: When you opt for the EMI option, your credit limit will be reduced by the amount equal to the value of your purchase. As you pay your monthly EMIs, your credit limit will be restored gradually by the amount equal to your EMI. For example, if your credit limit is Rs. 50,000 and you make a purchase of Rs. 10,000 on EMI, your available credit limit will be reduced to Rs. 40,000. If your monthly EMI is Rs. 1,000, your credit limit will increase by Rs. 1,000 every month as you pay your EMIs.

Impact on Minimum Payment Due: When you opt for the EMI option, your minimum payment due every month will be higher by the amount of your EMI. You should try to pay the full outstanding amount, including your EMI, every month to avoid paying any interest charges. For example, if your minimum payment due is Rs. 2,000 and your monthly EMI is Rs. 1,000, your total minimum payment due will be Rs. 3,000.

How do I report a lost or stolen card?

If you have lost or stolen your Scapia credit card, you should report it as soon as possible to prevent any unauthorized transactions and protect your account. Here are the steps you should follow to report a lost or stolen card:

Call the Federal Bank customer care number at 1800 425 1199 or 1800 420 1199 and request for the cancellation of your card. You will need to provide your card number, name, and other details for verification.
Alternatively, you can also write an email to [email protected] with your card number, name, and reason for cancellation. You will receive a confirmation email from Scapia within 24 hours.
You will also need to clear any outstanding balance on your card before the cancellation. You can check your balance and pay your bill on the Scapia app or through any other mode of payment accepted by Federal Bank.
After the cancellation, you should cut your card diagonally and dispose of it safely. You should also uninstall the Scapia app from your device and delete any saved card details from other platforms.
You should also file a report with the police and document the incident with authorities. This may aid in finding the perpetrator and holding them accountable.
You should also contact Equifax and TransUnion and request that a fraud alert be placed on your credit profile. This will alert potential lenders that you may be a victim of identity theft and prevent any fraudulent applications in your name.

Conclusion

The Scapia credit card seems to be a good option for travellers who want to save on forex fees and earn rewards on travel bookings. However, the card may not be suitable for those who do not use the Scapia app frequently or prefer other platforms for travel bookings. The card also has some limitations, such as no rewards on international transactions, no airport lounge access for international flights, and no option to redeem rewards for other categories. Therefore, one should compare the features and benefits of this card with other travel credit cards before applying.

Frequently Asked Questions (FAQ)

1. What is a Scapia Credit Card?

A Scapia Credit Card is a financial product offered by Scapia Bank, a reputable financial institution. It allows cardholders to make purchases on credit, which they can repay later with interest.

2. How can I apply for a Scapia Credit Card?

You can apply for a Scapia Credit Card by visiting the official Scapia Bank website or contacting their customer service. The application process typically involves providing personal and financial information, and approval is subject to the bank’s criteria.

3. What are the eligibility criteria for a Scapia Credit Card?

Eligibility criteria may vary, but common factors include your credit score, income, employment status, and credit history. Scapia Bank will assess your application based on these factors.

4. What types of Scapia Credit Cards are available?

Scapia Bank typically offers a range of credit cards, including rewards cards, cashback cards, low-interest cards, and premium cards with exclusive benefits. The specific types and features may change over time, so it’s best to check the latest offerings.

5. How does the interest rate work on Scapia Credit Cards?

The interest rate, also known as the Annual Percentage Rate (APR), determines the cost of borrowing on your card. It’s applied to any outstanding balance you carry from month to month. The APR may vary depending on your card’s type and your creditworthiness.

6. What fees are associated with Scapia Credit Cards?

Common fees include annual fees, late payment fees, foreign transaction fees, and cash advance fees. Be sure to review the card’s terms and conditions to understand all associated fees.

7. Can I make balance transfers with a Scapia Credit Card?

Yes, Scapia Credit Cards often allow balance transfers, which can help you consolidate debt from other credit cards. Balance transfer terms, such as introductory 0% APR periods and fees, vary by card.

8. How do rewards programs work with Scapia Credit Cards?

Rewards programs can vary between Scapia Credit Cards. Some offer cashback, miles, points, or other perks for eligible purchases. Check the specific card details to understand how the rewards program operates.

9. Can I manage my Scapia Credit Card account online?

Yes, Scapia Bank typically offers online account management services. You can access your account online to view transactions, pay bills, and manage your card preferences.

10. What should I do if my Scapia Credit Card is lost or stolen?

If your card is lost or stolen, contact Scapia Bank’s customer service immediately to report it. They will assist you in securing your account and issuing a replacement card.

11. How do I dispute a charge on my Scapia Credit Card statement?

If you believe there is an erroneous or fraudulent charge on your statement, contact Scapia Bank’s customer service as soon as possible to initiate the dispute resolution process.

12. What security measures are in place to protect my Scapia Credit Card information?

Scapia Bank employs various security measures, including encryption, fraud monitoring, and two-factor authentication, to protect your card information. You should also take precautions, such as safeguarding your card and monitoring your account for suspicious activity.

13. How can I contact Scapia Bank for customer support or inquiries?

You can typically reach Scapia Bank’s customer support through their website, phone numbers provided on your card, or by visiting a local branch if available.