Base reward rate: Up to 20% on select categories like dining and travel, 7% on Ola rides, and 1% on all other spends.
Redemption options: Ola Money Wallet
Redemption value: 1 Pt = ₹1.00
Fees & Charges
Joining fee: 0
Annual fee: 499
Pros
High 7% reward rate on Ola rides, making it highly valuable for frequent users of the cab service.
Strong accelerated rewards on travel and dining partners: 20% on domestic hotels via Cleartrip, 20% on restaurants via Dineout, and 5% on flights via Cleartrip.
Competitive 1% base reward rate on all other spends, which is at the higher end for a card in this fee segment.
Very achievable annual fee waiver, requiring a spend of only ₹1,00,000 to waive the ₹499 fee.
Cons
Extremely restrictive redemption policy, as reward points can only be credited to the Ola Money wallet, with no option for statement credit or other vouchers.
The value of high reward rates is diminished by capping on accelerated reward earnings, limiting the total benefit on Ola, Cleartrip, and Dineout spends.
The 1% base reward rate excludes several key spending categories, notably fuel, rent, and all EMI transactions.
Lacks common lifestyle benefits like airport lounge access or movie/OTT offers that are often provided by competing cards with a similar ₹499 annual fee.
Best Use Case
Frequent Ola users and those who dine out often via Dineout or book travel via Cleartrip.