Are you tired of juggling debit cards and credit cards for different transactions? Wish there was a way to combine the convenience of UPI with the rewards of a credit card? Well, the Edge UPI credit card, issued by CSB Bank in partnership with Jupiter, might be the answer you’ve been looking for. But what exactly is it, and is it all it’s cracked up to be? Let’s dive in and see if this card lives up to the hype. Also break it down in a way that’s easy to understand, no financial jargon included!
What Exactly is the Edge UPI Credit Card?
Think of it as the fusion of two financial superstars: the good old credit card and the super-convenient UPI. That’s exactly what the Edge UPI credit card offers. It’s a RuPay credit card, accepted by most Indian merchants, that allows you to make UPI payments directly. So, instead of swiping your card or entering details, you can simply scan a QR code and pay using your UPI PIN or even send money to friends using your credit limit, just like you would with a regular UPI app . This adds a layer of convenience, especially for online transactions and everyday purchases at shops with UPI acceptance. Pretty cool, right?
Also Read: SBI Cashback Credit Card Review 2024 – Fees, Benefits, Eligibility & How to Apply
Edge UPI Credit Card benefits
1. Cashback rewards:
The Edge UPI card offers cashback on your spending. We’re talking a guaranteed 2% cashback on a chosen category (shopping, travel, or dining) and a cool 0.4% on all other UPI and credit card transactions. Every little bit adds up, right?
2. Convenience:
No more carrying multiple cards or remembering card details. No more juggling multiple apps! With the Edge card, you can ditch your debit card and credit card for everyday purchases. Just scan, enter your UPI PIN, and you’re good to go.
3. Zero Fee Freedom:
Who likes hidden charges? Thankfully, the Edge UPI credit card is free of joining fees and annual charges. This makes it a budget-friendly option compared to some premium credit cards.
4. Potential Cost Savings:
Used strategically, this card can help you save money. Here’s how: make your regular purchases with the card, pay your bill in full before the due date to avoid interest charges, and enjoy the cashback rewards. Win-win!
5. Welcome vouchers:
As a new cardholder, you’ll be greeted with a warm welcome voucher worth ₹250. This can be used at popular brands like Amazon and Flipkart, giving your shopping spree a delightful head start.
6. Building Credit Muscle:
Using the Edge UPI credit card responsibly and paying your bills on time can help you build a strong credit history. This can be beneficial in the long run when applying for loans or other financial products.
Also Read: 8 Best Citi Rewards Credit Card Benefits: 8 Key Facts & How to Apply
Hold On, There Might Be Some Drawbacks Too!
Before you get swept away by the excitement, let’s acknowledge some potential downsides:
- Interest charges: Remember, this is still a credit card. If you don’t pay your balance in full each month, you’ll be charged interest on your purchases. Interest rates on credit cards can be quite high and that can quickly eat away at your hard-earned cash. So use it responsibly to avoid getting caught in the debt trap.
- Limited cashback categories: Unlike some cards with broader cashback options, the Edge UPI credit card restricts your 2% cashback to a single chosen category.
- No reward points: Unlike some credit cards, the Edge UPI credit card doesn’t offer reward points that can be redeemed for travel or merchandise.
- Spending Limits Apply: Just like any other credit card, the Edge UPI card has spending limits. Make sure you understand your limit and don’t go overboard.
- New card in the Market, limited information: As a relatively new offering, information on customer service, reward program details, and potential benefits beyond the initial offers might be limited.
Edge UPI Credit Card Apply
Eligibility:
The eligibility criteria for the Edge UPI credit card haven’t been officially announced yet. However, it’s likely to be similar to other credit cards and might involve factors like your credit score, income, and employment status.
How to Apply:
Currently, applications for the Edge UPI credit card are processed through the Jupiter app. You’ll need to download (for Android | Apple) the app and create an account if you haven’t already.
Fill Out the Application:
The application process should be straightforward, requiring basic information like your name, address, income details, and employment status.
Documents Might Be Required:
Depending on your profile, you might need to submit documents like PAN card, address proof, and income proof during the application process.
Wait for Approval:
Once you submit your application, it will be reviewed by CSB Bank. The processing time can vary, but you should receive a notification regarding the decision within a reasonable timeframe.
Who is the Edge UPI Credit Card for?
This card could be a ideal fit for you if:
- If you’re a big fan of UPI’s ease and convenience for daily transactions, the added convenience of using the Edge UPI credit card through UPI can be a big plus.
- If you have a dominant spending category (shopping, travel, or dining), the 2% cashback can be a nice incentive.
- For budget-conscious individuals who can manage their credit responsibly, the Edge UPI credit card’s cashback rewards can be a great way to save on everyday purchases.
- If you’re looking to build a strong credit history, using this card responsibly and paying bills on time can be a significant step in the right direction.
However, the Edge UPI credit card might not be the best choice for:
- For those who make frequent large transactions and the potential for lower spending limits could be restrictive for them.
- Those with Existing Credit Card Debt: If you’re already struggling with credit card debt, adding another credit card might not be the wisest decision.
My Honest Opinion: A Promising Start, But Wait and Watch
Look, the Edge UPI card is an innovative idea with the potential to revolutionize how we pay in India. The convenience of UPI payments with the potential for cashback rewards makes it a tempting option. However, the limited cashback categories and lack of reward points might be dealbreakers for some. Additionally, the newness of the card means there’s limited information available about potential drawbacks like hidden fees or limitations. So, it’s still early days. We need to see how the bank addresses potential limitations and ensures a smooth user experience.
Here’s what I recommend:
If you’re a responsible credit card user and comfortable with new technology, the Edge UPI card could be worth exploring. However, do your research, compare it to other options, and wait for some user reviews before diving in. Remember, responsible spending is key!
Wrapping Up
Ultimately, the Edge UPI credit card has the potential to be a convenient and rewarding option for specific users. However, a careful evaluation of your spending habits and a comparison with other credit cards is crucial before making a decision
I hope this breakdown helped you understand the Edge UPI card better. As more information becomes available, I’ll be sure to keep you updated! Now, go forth and conquer your finances like the savvy spender you are!
Please note: This information is for educational purposes only and should not be considered financial advice. Always conduct your own research and consult with a financial professional before making any financial decisions.
FAQs
Is a CSB bank credit card good?
The CSB Bank Edge RuPay Credit Card on Jupiter gives you 2% cashback on shopping, travel, and dining, and 0.4% on other buys. With no joining or annual fees, it helps you save more on regular expenses, making it a great choice for smart shoppers.
How to activate Jupiter Edge credit card?
Cardholders can activate the Edge CSB Bank Credit Card using the Jupiter Mobile App (by Amica Financial Technologies Private Limited). Clicking ‘Submit,’ ‘I Agree,’ or a similar button means the cardholder accepts the terms and conditions.
Is CSB Bank under RBI?
The bank became a Scheduled Bank in 1969 when it was added to the Second Schedule of the Reserve Bank of India Act.
Can a credit card be used for UPI?
You can link UPI apps like Google Pay, PhonePe, and Paytm to your credit card. The process differs by bank, and you’ll get a confirmation message once it’s done. You may read: How to Pay UPI Using Credit Card in 2024: Step-by-Step Guide for more detail.
Sources:
- Edge UPI card Key fact sheet – https://jupiter.money/edge-upi-card-key-fact-sheet/
- Edge UPI Credit Card – https://jupiter.money/edge-upi-credit-card/
- CSB Bank Edge Credit Card – https://www.csb.co.in/csb-bank-edge-credit-card
- Edge CSB Bank RuPay Credit Card – https://www.bankbazaar.com/credit-card/csb-edge-rupay-credit-card.html
- The Credit Card for all your UPI payments – https://medium.com/@apurv.narang_81188/introducing-edge-rupay-credit-card-the-credit-card-for-all-your-upi-payments-e6bfc15b4529
I’m Pratyush, but you can call me Prat. I’m a web developer, but in my off-hours, I’m a part-time blogger. I’m passionate about simplifying finance topics from credit cards to UPI, making them easy to understand for everyone.
