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CIBIL Score for Bank of Baroda Credit Card

Look for a wide range of cashback and reward benefits? Look no further! With Bank of Baroda credit cards, you can fulfill all of your shopping requirements and live a premium lifestyle. Every Bank of Baroda credit card comes with tailor-made benefits. If you seek to avail a Bank of Baroda credit card, you must meet certain eligibility criteria as requested by Bank of Baroda. Read more to find out.

Importance of CIBIL score for getting Bank of Baroda Credit Card

Your CIBIL credit score is the most important determinant with respect to your credit card application is a CIBIL score. Without a good CIBIL score, Bank of Baroda will not process your credit card application and will most likely reject your application. Why? Read more to find out.

Every bank, including Bank of Baroda, undertakes due diligence of a potential borrower in order to minimize the risk of non-payment. To do so, they run a credit check with CIBIL. CIBIL provides the bank with the credit information report and credit score. A credit score is an indicator of your financial health as it maps all of your recent and past credit history including existing loans, EMIs, payment defaults. Through this score, the bank gets a fair idea of your payback capacity and creditworthiness. Bank of Baroda has a minimum CIBIL score requirement of 750 for issuing a credit card. Therefore, it is essential that you maintain a high CIBIL score.

Bank of Baroda Credit Card Information

Eligibility and Documentation

AgeMin - 18 years
Max - 65 years
StatusSalaried | Self-Employed
NationalityResident Indian | NRI
ID ProofAadhaar Card | Passport | PAN | Driving License | Voter ID
Address ProofAadhaar Card | Passport | Rental Agreement | Utility Bills
Income Proof3 Months Bank Statement | Latest Salary Sips | Form 16 | ITR

It is mandatory for the potential borrower to have a regular source of income. The minimum monthly income for the basic variant is ₹25,000 and for others it depends upon the type of card you have selected. There are four types of credit cards offered by Bank of Baroda. Note: All benefits and features have been sourced from the official website of Bank of Baroda.

Bank of Baroda Easy Credit Card

FeaturesDescription
Reward Points5X rewards on daily expenses.
Cashback0.5% of the card bill payment as cashback.
Annual WaiverAnnual fee waived off on spending Rs.6,000 within 60 days and Rs. 35,000 in a year.
Multiple Redemption OptionsFacility to Redeem your reward points as cashback
EMIFacility to convert purchase of > ₹2,500/- on your card into easy EMIs of 6/12 months.
Surcharge1% fuel surcharge waived for all transactions between ₹400 to ₹5,000.

Bank of Baroda Select Credit Card

FeaturesDescription
Reward Points5X rewards on online shopping.
BonusRs. 1,000 reward points on 5 transactions of more than ₹1,000 per month
Annual WaiverAnnual fee waived off on spending Rs. 7,500 within 60 days and Rs. 70,000 in a year.
Multiple Redemption OptionsFacility to Redeem your reward points as cashback.
EMIFacility to convert purchase of > ₹2,500/- on your card into easy EMIs of 6/12 months.
Surcharge1% fuel surcharge waived for all transactions between ₹400 to ₹5,000.

Bank of Baroda Premier Credit Card

FeaturesDescription
Reward Points5X rewards on travel and dining.
Exclusive BenefitComplimentary access to 38 airport lounges across 22 cities in India and 24 x 7 concierge services.
Annual WaiverAnnual fee waived off on spending Rs. 10,000 within 60 days and Rs. 1,20,000 in a year.
Multiple Redemption OptionsFacility to Redeem your reward points as cashback.
EMIFacility to convert purchase of > ₹2,500/- on your card into easy EMIs of 6/12 months.
Surcharge1% fuel surcharge waived for all transactions between ₹400 to ₹5,000.

Bank of Baroda Prime Credit Card

FeaturesDescription
Cashback1% Cashback on all spends.
Annual WaiverLifetime free.
Multiple Redemption OptionsFacility to Redeem your reward points as cashback.
EMIFacility to convert purchase of > ₹2,500/- on your card into easy EMIs of 6/12 months.
Surcharge1% fuel surcharge waived for all transactions between ₹400 to ₹5,000.

Common Benefits across all four Credit Cards

  • Free Add-on Card - You can get up to 3 lifetime free add-on cards for your spouse, parents, siblings or kids (above the age of 18).
  • In-built insurance cover - You will get free Personal Accidental Death Cover for yourself and family.
  • Zero Liability - All cards come with zero liability on any fraudulent transactions pos loss/theft of card.
  • Interest Free - You can avail up to 50 days of interest free credit from the date of any purchase
  • Revolving Credit Facility - Facility to pay minimum amount due as per your convenience.

Probable Reasons for Bank of Baroda Credit Card Rejection

  • Bad Credit Score - This the most dominant reason for your credit card rejection. A poor credit score is your credit card’s worst enemy. Thus, it is ideal for you to improve your existing credit score immediately. Pay all your existing payments and EMIs on time as this will help in credit repair.
  • If you have never applied for a loan or credit card before, it is most likely that your credit history is non-existent. Your CIBIL credit information report has never been generated and hence, you do not have an active CIBIL score. Under such circumstances, the bank will be unable to run a credit check on your behalf and will reject your credit card application.

Tips for improving CIBIL Score to get Bank of Baroda Credit Card

  • Start by building your credit score all over again. Clear all your outstanding dues and never miss out on any of your bill payments and EMIs. Carry on with this habit and your credit score will improve within a few months.
  • Settle all your previous existing loan and credit card accounts. Also, ensure that the bank has updated the status to Closed. A Closed status reflects the fact that all your dues have been successfully cleared. This is another way of credit repair and will ensure that your credit report is updated regularly.
  • Do not apply for a loan immediately after the first loan is over. If you do so, the bank will have an impression that you do not have stability and require constant additional income. This looks bad on your credit history and creditworthiness.
  • Do not apply for another credit card till your current application is still in process. Banks will conduct a credit check for all of your application. Any rejection will further downgrade your CIBIL credit score.
  • Prepayment is another good option to improve your credit score. It is when you pay the remainder EMIs as a single amount in order to close the loan account as soon as possible.

FAQs

What if I have a low CIBIL score, will Bank of Baroda still give me a credit card?

No, the minimum CIBIL score requirement for Bank of Baroda Credit Card application is 750.

Does skipping Bank of Baroda credit card payment affect my CIBIL score?

Yes, if you skip even a single EMI or credit card payment, it is most likely to have a negative impact on your CIBIL score.

Had a loan settlement with Bank of Baroda credit card, will it affect my credit score?

Yes, a successful loan settlement can downgrade your CIBIL score further as the entire amount has not be paid by you according to the settlement terms.

Can I get more than 3 Bank of Baroda credit cards if I have a good CIBIL score?

No, you can have only one Bank of Baroda credit card at a time. Instead, you can upgrade your existing transaction limit.