After Paytm, Ola launches its credit card with exciting offers

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Just after Paytm announced the launch of its credit card, Ola made it public that it will soon release its very own credit card with simplified features and exciting offers. The credit card has been launched in association with SBI Card. 

Credit-card
Ola Money SBI Credit Card is co-branded with SBI and powered by Visa.

The company’s target is to issue 10 million Ola Money SBI Credit Cards by the year 2022. The card, powered by Visa, can be managed on the Ola app. Individuals can also view and apply for the credit card through the app. The spending limit of the credit card will not be a flat amount and will be a percentage of the credit limit offered to the individual. 

With the launch of Paytm’s credit card co-branded by Citi Bank and Ola’s credit card co-branded by Citi Bank, co-branded credit cards are expected to be under the limelight soon. 

The Ola Money credit card does not charge joining fees and claims to offer a seamless experience. Cashbacks will be offered to the credit cardholders and the cashback will be credited to their Ola Money accounts. The cashback amount can be used to pay for Ola rides, hotel bookings, or flight tickets. 

Ola had previously launched financial services such as Ola Money Wallet and Ola Money Postpaid. Also, a micro-insurance scheme was made available to those who avail the cabhailing service from the app. 

Listed below are a few of the examples of offers announced by Ola: 

Expenditure type 

Cashback percentage 

Ola cab expenditure 

7% 

Flight bookings 

5% 

Domestic hotel bookings 

20% 

International hotel bookings 

6% 

Partnered restaurants 

20% 

Other expenditures 

1% 

Additionally, a surcharge waiver of 1% is offered for fuel transactions. 

The partnership will help Ola further its interest in financial services and it will provide SBI with a larger customer base thanks to the millions of users on the Ola app. 

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