MyFinCards
MyFirst Credit Card

Joining Fee

₹999

Annual Fee

Rs. 999 + Taxes

RBL Bank
Rewards
Lifestyle
Fuel
Best For: Students and young professionals with education spends, Users with high bill payment spends, First-time credit card users

MyFirst Credit Card

Rewards Structure

Base Reward Rate

0.25% on spends

Point Value

1 Point = ₹0.25

Pros

  • 8x rewards on education and bill payments
  • Fuel surcharge waiver up to INR 100/month
  • Unlimited ATM cash withdrawals up to billing date
  • Annual rewards worth INR 1,983+

Cons

  • Annual fee of INR 999
  • Reward redemption fee of INR 99 + GST per day
  • Low base reward rate of 1 RP per INR 400 on general spends
  • No welcome rewards for First Year Free cards

Hidden Catches (Transparency Policy)

To build trust with our users, we highlight the fine print that issuers often tuck away in policy documents.

Insurance, Rent Payments and Wallet Load categories do not earn reward points (effective November 13, 2023)

Fuel & Auto, Quasi-Cash, Railways, Real Estate, Service Providers, Government Services, Contracted Services, Bills2pay, EMI, Miscellaneous & Cash not eligible for rewards (effective October 15, 2024)

Reward redemption fee of INR 99 + GST levied once per day regardless of number of redemptions

Key Benefits & Features

Easy Cash: Unlimited ATM cash withdrawals in India up to billing date. Processing fee 2.5% (min INR 500).

8 Reward Points per INR 400 spent on Education (MCCs: 8220, 8244, 8249, 8211, 8241, 8299).

8 Reward Points per INR 400 spent on Bill Payment.

1 Reward Point per INR 400 spent on all other eligible spends.

Notable Exclusions

No reward points on Insurance transactionsNo reward points on Rent/Wallet LoadNo reward points on Fuel & Auto transactionsNo reward points on Quasi-Cash transactionsNo reward points on Railways transactionsNo reward points on Government ServicesNo reward points on Contracted ServicesNo reward points on Cash transactionsNo reward points on Miscellaneous categoryNo reward points on Bills2Pay transactions (Tran Code 71, 72)No reward points on EMI transactions

*Exclusions may apply to EMI transactions, fuel, and wallet reloads based on current bank policy.

Official Terms & Conditions

About MyFirst Credit Card

The RBL Bank MyFirst Credit Card is designed for students, young professionals, and first-time credit card users looking to maximize value across their everyday spending. Positioned as a card with the power of four cards in one, it delivers best-in-class rewards across key spending categories, making it an ideal entry point into the world of credit cards. Cardholders earn 8 Reward Points for every INR 400 spent on education and bill payments, and 1 Reward Point for every INR 400 spent on all other eligible purchases. New members receive 2,000 welcome Reward Points upon spending INR 2,000 within 30 days of card issuance. The card also offers a fuel surcharge waiver of up to INR 100 per month on transactions between INR 500 and INR 4,000, helping frequent drivers save on fuel costs. Combined, these benefits can deliver annual rewards worth over INR 1,983. A standout feature is Easy Cash, which allows unlimited ATM cash withdrawals up to the available cash limit from any ATM in India until the billing date, subject to a processing fee. With an annual fee of INR 999, the MyFirst Credit Card offers exceptional value for those beginning their credit journey and seeking meaningful rewards on education, bill payments, and daily lifestyle spends.

Expert Review

Our Verdict

Entry-level card with 8x rewards on education & bill payments plus fuel surcharge waiver.

Frequently Asked QuestionsAbout MyFirst Credit Card

FEESWhat is the annual fee for the RBL Bank MyFirst Credit Card?
The RBL Bank MyFirst Credit Card has an annual fee of ₹999 (plus applicable Service Tax/GST). This fee applies each year to maintain your card. Note that welcome rewards of 2,000 Reward Points are only applicable upon payment of the annual fee, along with a minimum spend of ₹2,000 within 30 days of card issuance. First Year Free cardholders will not receive welcome reward points.
BENEFITSWhat welcome benefits do I get with the MyFirst Credit Card?
You can earn 2,000 Reward Points as a welcome gift upon payment of the annual fee and completing a minimum spend of ₹2,000 within 30 days of card issuance. These 2,000 Reward Points are worth approximately ₹500. Please note that welcome rewards will not be provided to First Year Free cardholders. This makes it important to activate and use your card promptly after receiving it.
REWARDSHow many reward points do I earn on education and bill payment spends?
You earn an accelerated rate of 8 Reward Points for every ₹400 spent on Education and Bill Payment categories. This is 8x the standard reward rate, making the MyFirst Credit Card particularly beneficial for students and individuals with regular bill payments. Education MCCs include 8220, 8244, 8249, 8211, 8241, and 8299 as defined by VISA guidelines. These elevated rewards can significantly increase your annual savings.
REWARDSWhat is the base reward rate on general spends with the MyFirst Credit Card?
For all general spends not falling under accelerated reward categories, you earn 1 Reward Point for every ₹400 spent. However, please note that effective October 15, 2024, certain categories are excluded from earning reward points, including Fuel & Auto, Quasi-Cash, Railways, Real Estate, Service Providers, Government Services, Contracted Services, Bills2pay, EMI, Miscellaneous, and Cash transactions. Insurance, Rent Payments, and Wallet Load categories have been excluded since November 13, 2023.
BENEFITSWhat fuel benefits does the MyFirst Credit Card offer?
The MyFirst Credit Card offers a fuel surcharge waiver of up to ₹100 per month, allowing you to fill fuel at any petrol station without paying extra surcharge costs. The waiver is applicable on fuel transactions with a minimum transaction value of ₹500 and a maximum of ₹4,000. Over a year, this benefit can save you up to ₹1,200 annually, making it a valuable perk for regular commuters and drivers.
USAGEIs there a fee to redeem reward points on the MyFirst Credit Card?
Yes, a reward redemption fee of ₹99 + GST is applicable each time you redeem your available Reward Points on your RBL Bank MyFirst Credit Card. Importantly, this redemption fee is charged only once per day, regardless of how many redemptions you make within that single day. So if you plan multiple redemptions, it is advisable to combine them into a single day to minimize the redemption fee charged.
BENEFITSWhat is the Easy Cash feature on the MyFirst Credit Card?
The Easy Cash feature allows you unlimited withdrawal of your available cash limit from all ATMs across India, up to your billing date. This gives you the flexibility to access cash whenever needed without a restriction on the number of transactions. A processing fee of 2.5% is applicable on each withdrawal, with a minimum fee of ₹500. For complete details, refer to the Most Important Terms and Conditions (MITC) provided by RBL Bank.
REWARDSWhat is the total annual benefit value I can expect from the MyFirst Credit Card?
Based on typical spending patterns, the MyFirst Credit Card offers annual benefits worth ₹1,983 or more. This includes approximately ₹500 from welcome reward points, ₹50 from 8x rewards on education spends of ₹10,000, ₹130 from 8x rewards on bill payments of ₹26,000, ₹103 from base reward points on general spends of ₹1,64,000, and ₹1,200 from monthly fuel surcharge waivers. Actual benefits may vary based on your individual spending habits.
FEESWhat is the joining fee for the MyFirst Credit Card?
The joining fee for the RBL Bank MyFirst Credit Card is ₹999 (plus applicable taxes). This is a one-time fee charged at the time of card issuance. The annual fee of ₹999 is also applicable on a recurring yearly basis to keep the card active. To get the best value from the card, ensure you spend at least ₹2,000 within the first 30 days to unlock the welcome gift of 2,000 Reward Points worth ₹500.
REWARDSWhich categories are NOT eligible for earning reward points on the MyFirst Credit Card?
Effective October 15, 2024, the following categories do not earn reward points: Fuel & Auto, Quasi-Cash, Railways, Real Estate, Service Providers, Government Services, Contracted Services, Bills2pay, EMI, Miscellaneous, and Cash transactions. Additionally, since November 13, 2023, Insurance, Rent Payments, and Wallet Load transactions also do not earn reward points. Categories and MCCs are defined as per VISA guidelines. Always check the latest terms and conditions to confirm eligible spend categories.
INTERNATIONALCan I use the MyFirst Credit Card for international transactions?
The RBL Bank MyFirst Credit Card is a VISA network card, which means it is accepted at millions of merchant locations globally wherever VISA is accepted. However, specific forex markup fee details are not publicly listed for this card. It is advisable to contact RBL Bank directly or refer to the Schedule of Charges to understand any applicable foreign currency transaction fees before using the card for international purchases or travel.
APPLICATIONHow do I apply for the RBL Bank MyFirst Credit Card?
You can apply for the RBL Bank MyFirst Credit Card through the official RBL Bank website by visiting the MyFirst Credit Card page and clicking the 'Apply Now' option. You may also visit your nearest RBL Bank branch to apply in person. The application process typically requires submitting KYC documents such as identity proof, address proof, and income proof. You can also use the RBL Bank Mobile Banking App for a convenient digital application experience.
DOCUMENTSWhat documents are required to apply for the MyFirst Credit Card?
While specific documentation requirements are not detailed on the MyFirst Credit Card page, standard documents typically required for an RBL Bank credit card application include: a valid identity proof (PAN card, Aadhaar card, or passport), address proof (utility bill, Aadhaar, or voter ID), recent passport-sized photographs, and income proof such as salary slips or bank statements. It is recommended to contact RBL Bank directly or visit the nearest branch to confirm the exact list of documents required.
USAGEHow can I redeem reward points earned on my MyFirst Credit Card?
Reward Points earned on your RBL Bank MyFirst Credit Card can be redeemed through the RBL Bank rewards portal. You can access redemption options via the RBL Bank website, the RBL MyCard Mobile App, or by contacting customer support. A redemption fee of ₹99 + GST is charged per redemption day. To maximize value, consider combining all your redemptions in a single day to avoid paying this fee multiple times. Always check the latest redemption catalogue for available options.
CANCELLATIONHow do I cancel or close my RBL Bank MyFirst Credit Card?
To cancel or close your RBL Bank MyFirst Credit Card, you can contact RBL Bank's customer service through their official helpline or visit your nearest RBL Bank branch. You may also raise a cancellation request through the RBL Bank website under the 'Raise a Query / Request / Complaint' section. Before cancellation, ensure all outstanding dues are cleared and any unused reward points are redeemed, as they may lapse after card closure. Terms and conditions apply for card cancellation.

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