Ola Money SBI Credit Card: Here's what is on offer

To use the card, you need to have the Ola app. The app has an in-built section called Ola Money and this is where the cashbacks and rewards will accumulate.

Others
You can also choose to get the cashback in your bank account and not in Ola Money.
Cab aggregator Ola in association with one of India’s largest credit card issuers, SBI Card, announced the launch of Ola Money SBI Credit Card today. You can use this card at all those merchant outlets across the country that accept Visa card, just like a regular co-branded credit card. The big draw of the card is its cashback programme.

Do keep in mind that as of now, the card is available only for select users, i.e., it is by invite only for now. It subsequently intends to roll out the card to the public in a few months, said an Ola spokesperson. Meanwhile, those who wish to “express interest” for now can head to this link and register: https://om.olacabs.com/credit-app/cc-express-interest

How to use

Powered by Visa, the card will have an easy application process, no joining fee and 5x more rewards and cashbacks, according to a press release issued by Ola and SBI Cards.

To use the card, you need to have the Ola app. The app has an in-built section called Ola Money and this is where the cashbacks and rewards on your spends will accumulate. You do not need to install a separate app or register anywhere else.

Further, if you want, you can choose to get the cashbacks in your bank account and not in Ola Money, said the Ola spokesperson.

What is on offer
According to the press release:
  • 1% cashback everywhere else is credited near instantly: On any merchants (online or offline) accepting Visa cards, swiping the Ola Money SBI Credit Card to pay will fetch you a cashback of 1% in your Ola Money Wallet within 3 days.
  • 7% cashback on all Ola rides across all categories paid by the credit card or postpaid: You will be rewarded for all your commute via Ola cabs. The money will be sent to your Ola Money Wallet, however, the maximum cashback is capped at Rs 500 per month.
  • Get 5% cashback on flight tickets, 20% cashback on hotel bookings via Cleartrip: Again there are a bunch of terms and conditions here including a cap on the maximum cashback amount. These are stated in the link mentioned earlier.
  • Get 20% cashback on restaurant bills via Dineout: On orders booked via the Dineout app and paid for by the Ola Money SBI Credit Card, you will get 20% of the bill (maximum Rs 200) back in your Ola Money wallet. There are further terms and conditions (check the link).

Other benefits include a fuel surcharge waiver and no card fee for the first year. Ola is targeting 10 million Ola Money-SBI Credit Cards to be issued by 2022.
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