Many individuals avoid using credit cards as they see them as a liability. They fear that spending will increase, and there are a lot of charges associated with it. Due to this, they miss out on the credit-building opportunities. Roarbank credit cards are UPI-linked, which eases the process of using credit cards.
But are they really free? Are there no disadvantages to these cards? This article will help you find the answer to all the questions related to the Roarbank Credit Card.
Features of Roarbank
Let us understand this credit card better
- Lifetime Free: The Roarbank Credit Card is totally free for life because there are no annual or joining fees.
- UPI-enabled: It enables you to pay contacts and scan QR codes with your credit card.
- Interest-Free Period: If you make your full payment on time, you will receive interest-free credit for up to 62 days, which includes a 3-day grace period.
- Cashback Benefits: You can receive 1% cashback on all other eligible purchases and up to 20% cashback on two selected categories each month.
- App-Based Control: You can set limits, monitor spending, manage your card completely, and even use features like Shake-to-Pay with the Roarbank app.
- Credit Limit: Depending on repayment history, the credit limit can rise from its initial level of Rs. 5,000 to Rs. 1.5 lakh.
UPI Integration with a Credit Card
Combining UPI (Unified Payments Interface) with a credit card is a huge innovation and has completely changed how we manage money. Users can now enjoy the convenience of UPI and the power of credit with the Roarbank Credit Card, one of the few in India that permits direct linking with UPI apps, currently, BHIM is fully supported, while integration with Google Pay, PhonePe, and Paytm may vary depending on the latest app updates.
UPI was restricted to bank accounts or debit cards until recently. This implied that you had to manually enter your card information or swipe your credit card to use it. You can now use UPI apps to scan and pay with your credit card, just like you would with your bank account.
How does this help?
- Quicker Payments Without Swiping: No card reader is needed, as you can simply scan a QR code to make a payment straight from your credit line.
- Greater Acceptance, Even in Small Shops: Credit cards are not accepted by many local kirana shops or street vendors. Finally, you can use your credit card even at a chai stall as UPI is widely accepted.
- A Smooth Digital Experience: In a few easy steps, set up your card on the UPI app of your choice. Simply authenticate with your UPI PIN to avoid any hassle or OTPs.
- Get Incentives for UPI Purchases: Roarbank offers cashback on select UPI transactions, but the cashback is limited to certain merchant categories and subject to monthly caps, rather than being available on all UPI purchases.
Reality Behind Annual Fees
Fear of hidden fees is one of the main concerns people have before applying for a credit card. The majority of “free” cards have fine print that charges you if you don’t spend a certain amount each year or hit you with renewal fees in the second year.
The Roarbank Credit Card is unique in this regard. With no annual renewal fees, no joining fees, and never any hidden costs, it provides a truly free experience.
Because of this, it is particularly appealing to:
- People who have never used a credit card before and wish to begin establishing credit without having to worry about ongoing fees.
- Young professionals and students with low incomes seeking an easy way to get into the credit system.
- Minimalist people who wish to maintain clear and straightforward financial commitments.
| Feature | Fee Charged |
| Card Issuance (Joining Fee) | Rs. 0 |
| Annual Renewal Charges | Rs. 0 |
| UPI Transactions | Rs. 0 |
| Card Replacement | Often free |
| SMS/Online Statements | Rs. 0 |
Pros and Cons of Roarbank Credit Card
Is this card looking too good to be true? Let us look at the pros and cons to identify them:
Pros
| Advantage | Description |
| Zero Annual Fees | No joining or renewal charges, which is ideal for budget-conscious users. |
| UPI Integration | Link your credit card to UPI apps (PhonePe, GPay, etc.) for QR-based payments. |
| Digital Onboarding | 100% paperless application and instant card activation. |
| Cashback and Reward Points | Earn up to 20% cashback on eligible UPI transactions within selected merchant categories, subject to monthly caps. |
| Easy Spend Tracking | In-app analytics to manage spending habits and set budgets. |
| Global Acceptance | Works at all Visa/MasterCard-supported merchants globally. |
| Tap-to-Pay Support | Enables fast, secure, and contactless in-store payments. |
| Good for Credit Score Building | Great starting point for first-time credit users. |
Cons
| Limitation | Description |
| Limited Premium Benefits | No airport lounge access, travel perks, or concierge services. |
| Cashback Capping | Cashback may be capped monthly, and high spenders may find this limiting. |
| Interest on Revolving Credit | Like all credit cards, carrying a balance leads to interest charges. |
| Credit Limit May Be Conservative | The initial credit limit may be lower for new users or students. |
| No Co-Branded Offers | No tie-ups with brands for exclusive EMI deals or product discounts. |
Bottomline
The conclusion can be drawn that Roarbank Credit Card is a good option for low-income individuals or students to start using credit cards, as it is linked with UPI. It is widely accepted even at a street-side shop, as payment is made through QR rather than a card reader. There is no annual charge to it, making it an affordable option with a certain amount of cashback.
However, they do not offer lounge access or any travel advantages that frequent travellers might want. It is advised to assess your financial situation and needs before opting for this credit card to avoid any regrets later.