Synopsis: SalarySe and City Union Bank’s new Level Up Credit Card, launched on December 9. Designed exclusively for salaried users, it offers UPI payments, strong rewards, and a standout 37.5% Salary Day Bonus.
A major news broke out in the credit card market of a new credit card being launched on December 9 in Chennai. SalarySe and City Union Bank partnered up and launched a new credit card called the Level Up Credit Card, exclusively designed for salaried individuals.
Fees and charges of the Level Up Credit Card
- Physical + Virtual Card: Joining fee Rs 500 + GST; Annual fee Rs 500 + GST (waived if annual spending exceeds Rs 2 lakhs)
- Virtual Card Only: Completely fee-free (zero joining and annual fees)
- Forex Charge: A 1% forex markup exchange fee on global spending.
What is the new credit card all about?
On December 9, a new credit card was launched by SalarySe and City Union Bank which is called the Level Up Credit Card which is a product specially designed for salaried individuals. The credit card is said to be one of a kind. The Level Up Credit Card offers rewards of up to 37.5% as Salary Day Bonus based on the expenditure done by the card.
Let us look at the exclusive features of this credit card
Built for the salaried pay cycle: the Level Up Credit Card is built around the salaried pay cycle that focuses on the spending behavior of an employee, unlike the traditional credit cards that mostly benefit from travel and other rewards.
Salary day bonus: The Level Up Credit Card’s Salary Day Bonus offers rewards up to 37.5% based on your spending, delivered through a Reward Points (RP) system rather than direct cashback. Cardholders earn 25 RP per Rs 100 spent via SalarySe UPI specifically on salary days the 1st and last day of the month.
The 37.5% figure reflects the maximum effective earning rate when this salary day bonus layers onto the card’s accelerated tiers, like super accelerated rewards of 10 RP per Rs 100 that activate once your monthly bill exceeds Rs 20,000.
Also read: Want 10.5% Personal Loan? Here’s How Your Mutual Funds Can Help You Get It
Benefits of the Level Up Credit Card
- Salary day bonus: the salaried individuals can earn up to 37.5% of rewards and cashbacks on the transactions made on the first and the last day of the month.
- Lounge access: 12 complimentary domestic lounge access, if there is a monthly expenditure of Rs 10,000 in the previous month.
Who is the Level Up Credit Card designed for?
The Level Up Credit Card is the first card in India that is exclusively designed for the salaried individuals with an aim and objective of boosting their rewards with their regular spending patterns, mainly on their payday.
The credit card targets the working professionals who use UPI transactions in their day-to-day life for different bills.
FAQs
What are the fees of the Level Up Credit Card?
The Level Up Credit Card comes with a joining and annual fees of Rs 500 + GST and the fees are waived if there is an expenditure of Rs 2 lakhs in the previous year.
How does the Level Up Credit Card reward program work?
The Level Up Credit Card offers rewards up to 37.5% based on the purchases made by the card on the first day of the month with 5% and 10% rewards on spendings of 10k and 20k respectively.
- Base rewards: 1 RP per Rs 100 on other UPI apps
- Accelerated rewards: 5 RP per Rs 100 when monthly spend is below Rs 20K
- Super accelerated rewards: 10 RP per Rs 100 when bill exceeds Rs 20,000
- Salary Day Bonus: 25 RP per Rs 100 on salary days
Written by: Atin Kevin
