MakeMyTrip Launches Forex Credit Cards

[AsB]

Makemytrip , in collaboration with Book My Forex has launched two Forex Credit Cards provided by SBM Bank and Yes Bank.
The two cards are as follows

• Trip Money Global Cash Card partnered with SBM Bank
• Book My Forex Card partnered with Yes Bank.

Both the cards have Rs 499 0 Joining And Annual fees (Limited Period offer).

How it works

• Load money in INR instantly
  Just like any pre-paid card, at zero cost
• No forex mark-up
  Live exchange rates of VISA & bank applied. No added fee or mark-up. Save upto 4% on forex spends vis-a-vis Debit/Credit/Forex Cards.
  
  
• Spend Globally
  Pay in POS and online, anywhere in the world that accepts VISA, at no forex markup.
• International ATM withdrawal
  Withdraw from any ATM in 150+ countries at fixed fee. No surprises.
  
  (Copied from the MMT App)
  
  
  
  
  

 

[AsB]

Makemytrip , in collaboration with Book My Forex has launched two Forex Credit Cards provided by SBM Bank and Yes Bank.
The two cards are as follows

• Trip Money Global Cash Card partnered with SBM Bank
• Book My Forex Card partnered with Yes Bank.

Both the cards have Rs 499 0 Joining And Annual fees (Limited Period offer).

How it works

• Load money in INR instantly
  Just like any pre-paid card, at zero cost
• No forex mark-up
  Live exchange rates of VISA & bank applied. No added fee or mark-up. Save upto 4% on forex spends vis-a-vis Debit/Credit/Forex Cards.
  
  
• Spend Globally
  Pay in POS and online, anywhere in the world that accepts VISA, at no forex markup.
• International ATM withdrawal
  Withdraw from any ATM in 150+ countries at fixed fee. No surprises.
  
  (Copied from the MMT App)
  
  View attachment 8969
  
  
  View attachment 8968View attachment 8966View attachment 8967View attachment 8965

I got only SBM bank's option.

 

[Kenu73]

These are prepaid cards, not a credit card and utter useless, Niyo is 10 times better as it's a savings account and money can easily be moved

 

[AsB]

These are prepaid cards, not a credit card and utter useless, Niyo is 10 times better as it's a savings account and money can easily be moved

I had the same thing in mind, but

 

[Chaitanya-a]

I had the same thing in mind, but

View attachment 8972

Still Niyo is better as they provide full fledged Savings account and One complimentary lounge access per quarter. Also, they are on Visa Signature network.

 

[Rahul Gupta]

Makemytrip , in collaboration with Book My Forex has launched two Forex Credit Cards provided by SBM Bank and Yes Bank.
The two cards are as follows

• Trip Money Global Cash Card partnered with SBM Bank
• Book My Forex Card partnered with Yes Bank.

Both the cards have Rs 499 0 Joining And Annual fees (Limited Period offer).

How it works

• Load money in INR instantly
  Just like any pre-paid card, at zero cost
• No forex mark-up
  Live exchange rates of VISA & bank applied. No added fee or mark-up. Save upto 4% on forex spends vis-a-vis Debit/Credit/Forex Cards.
  
  
• Spend Globally
  Pay in POS and online, anywhere in the world that accepts VISA, at no forex markup.
• International ATM withdrawal
  Withdraw from any ATM in 150+ countries at fixed fee. No surprises.
  
  (Copied from the MMT App)
  
  View attachment 8969
  
  
  View attachment 8968View attachment 8966View attachment 8967View attachment 8965

Indusind exclusive debit cards are best in this category.

 

[AsB]

Makemytrip , in collaboration with Book My Forex has launched two Forex Credit Cards provided by SBM Bank and Yes Bank.
The two cards are as follows

• Trip Money Global Cash Card partnered with SBM Bank
• Book My Forex Card partnered with Yes Bank.

Both the cards have Rs 499 0 Joining And Annual fees (Limited Period offer).

How it works

• Load money in INR instantly
  Just like any pre-paid card, at zero cost
• No forex mark-up
  Live exchange rates of VISA & bank applied. No added fee or mark-up. Save upto 4% on forex spends vis-a-vis Debit/Credit/Forex Cards.
  
  
• Spend Globally
  Pay in POS and online, anywhere in the world that accepts VISA, at no forex markup.
• International ATM withdrawal
  Withdraw from any ATM in 150+ countries at fixed fee. No surprises.
  
  (Copied from the MMT App)
  
  View attachment 8969
  
  
  View attachment 8968View attachment 8966View attachment 8967View attachment 8965

The problem with this one is, if anyone uses the full amount that they reloaded, then the utilization ratio would be 100%

 

[gabu]

And if you keep the wallet zero still it would be reported as zero limit with zero utilization aka 100% usage. Also why ruin credit limit when a prepaid card is being given. Dodgy product imo.

 

[Kenu73]

I had the same thing in mind, but

View attachment 8972

It beats the purpose of Credit card, maybe they are confused or idk what are they doing. If we are loading money and then using it in that case it's not a credit card. Nothing is being lended. Why are they Calling it a credit card is still a mystery.

 

[AsB]

It beats the purpose of Credit card, maybe they are confused or idk what are they doing. If we are loading money and then using it in that case it's not a credit card. Nothing is being lended. Why are they Calling it a credit card is still a mystery.

It feels like a BNPL card, disguised/wrongly sold as Credit Card.

 

[ALOAK]

It beats the purpose of Credit card, maybe they are confused or idk what are they doing. If we are loading money and then using it in that case it's not a credit card. Nothing is being lended. Why are they Calling it a credit card is still a mystery.

Maybe fooling people it is pre paid card not a credit card.