Paytm and Ola Money are two attractive additions to the online money transactions market in India. Paytm and Ola have recently launched their credit cards, providing their customers with a new payment option.
This move allows Paytm and Ola to expand their services and offer a more comprehensive range of financial products. While both were launched around the same time, there are some key differences between them.
Here are the highlights: Paytm offers the Paytm First Credit card that offers cashback on every transaction, while the Ola Money SBI Credit card offers rewards points. Paytm First Credit card has no joining fee or annual fee, whereas Ola Money SBI Credit card has a joining fee of ₹ 499.
Paytm First Credit card offers a higher cashback rate on Paytm transactions, while the Ola Money SBI Credit card offers higher rewards points on dining and entertainment spending. Overall, the choice between these two credit cards will depend on your spending habits and preferences.
Differences BetweenPaytm and Ola Money
Before purchasing either the Ola Money Credit Card or the Paytm First Credit Card, it is important to understand their respective features and differences. The Ola Money Credit Card offers cashback on Ola rides, dining, and utility bill payments, while the Paytm First Credit Card provides cashback on Paytm transactions, fuel purchases, and movie tickets.
It is recommended that you carefully consider your spending habits and priorities before choosing which card to apply for.
Joining Fees
We are pleased to announce the launch of the Paytm First Credit Card in partnership with Citibank. The card offers an annual fee of ₹ 500, which can be waived by spending ₹ 50,000 or more in a membership year.
Meanwhile, the Ola Money Credit Card, powered by Visa, offers an exclusive rewards program with benefits for users. The card has no joining fee and can be applied for, viewed, and managed directly from the Ola app. Existing Ola users are eligible to apply.
Cashback Facilities
As per the Paytm website, customers are eligible to earn unlimited cashback of 1% on all card spends. This cashback will be automatically credited after the monthly bill generation and will be credited within two working days.
On the other hand, Ola has announced that card users will receive the highest cashback and rewards. These benefits will be credited to their accounts instantly in the form of Ola Money. You can redeem this cashback against Ola rides, flights, and hotel bookings. Additionally, the rewards have a lifetime validity.
Credit Card Benefits
We would like to inform you that the Ola credit card offers cashback with no expiry date. The cashback amount will be credited to your Ola Money wallet within 3 days of the transaction. You can redeem the cashback on various platforms including Ola, Dine Out, Cleartrip, and over 1,500 other merchants.
On the other hand, Paytm First Credit Card offers its customers 1% cashback with the convenience of auto processing. This offer is unlimited. Additionally, it comes with a complimentary Paytm First membership for one year.
Exciting Offers
Both Ola and Paytm are currently offering early bird offers for a limited period. Ola is providing a range of offers including Rs. 500 Ola Money on the first transaction, Cleartrip voucher, and dining offers. On the other hand, Paytm is offering a 15% discount at partner restaurants, as well as movie ticket offers. We want to share some information about these two credit cards that offer cashback linked to their respective wallets – Paytm Wallet and Ola Money.
EMI Options
The Paytm First credit card provides an EMI option for purchases made using the card. This feature will allow you to pay for their purchases in installments. This feature makes it easier to manage your finances. On the other hand, The Ola card provides a fuel surcharge waiver to its users.
Bottom Lines
In our opinion, obtaining a credit card from them is simpler if you already possess an account. As for the features, the Ola SBI credit card appears to be superior in terms of cashback and offers.
Both of these credit cards are quite appealing to us. They are both cashback credit cards that were launched at the same time. We are interested in seeing which one will be more successful in attracting you. We would like to know which credit card you prefer and if you are considering getting either of them. So let us know through your comment!
