Super.Money SuperCard Experience

My Finance
1

Hi, wanted to know the best secured credit cards available in the market right now. As per my research, SuperCard launched by Super.Money and Utkarsh SFB is the best option. The rewards can be redeemed instantly. The min. rewards withdrawal amount is ₹10. The app has a clean and simple UI as well.

SuperCard Pros and Cons

Pros

  1. Low FD Requirement:
  • Minimum FD starts at just ₹100, making it highly accessible.
  1. Free Physical Card for Higher FD:
  • If the FD is ₹5,000 or more, the physical card is provided free of cost.
  1. Adjustable Credit Limit:
  • Users can increase or decrease their credit limit by creating or withdrawing additional FDs.
  • Flexibility to manage limits based on your needs.
  1. Contactless Pay Feature:
  • Offers the convenience of tap-to-pay for small transactions.
  1. Cashback Rewards:
  • Unlimited up to 5% cashback on Super Money UPI transactions using the card.
  • 0.5% cashback on all non-UPI transactions (capped at ₹200/month).
  • Enhanced cashback for specific merchants:
    • 5% on Myntra.
    • 3% on ClearTrip.
    • 2% on Flipkart (max cashback ₹500/month).
  1. 8% FD Interest:
  • Your FD earns interest while securing the card.
  1. No Annual or Joining Fee for Virtual Card:
  • Free to use if you stick to the virtual version.
  1. Credit Score Building:
  • Reports to credit bureaus like CIBIL, helping establish or improve your credit history.
  1. No Income Proof Required:
  • Approval is based solely on FD creation.
  1. User-Friendly App:
  • Easy tracking of rewards, payments, and cashback through the Super.Money app.

Cons

  1. FD Balance Restriction:
  • For FDs of ₹5,000 or more, the FD balance must remain at or above ₹5,000 for 12 months.
  • A fee of ₹299 is charged for the card they have issued if the balance drops below this threshold.
  1. Physical Card Fee for Smaller FDs:
  • If the FD is less than ₹5,000, the physical card incurs a fee of ₹299.
  1. Limited Rewards for Non-UPI Spends:
  • Cashback rewards are capped for non-UPI transactions, making it less attractive for high spenders.
  • No rewards for government-related transactions, wallet reloads, or certain categories.
  1. High Interest on Outstanding Balances:
  • 3% per month (36% annually) interest rate if the full payment isn’t made by the due date.
  1. No Fuel Surcharge Waiver:
  • Not ideal for users who frequently buy fuel with a credit card.
  1. Limited Credit Limit:
  • Credit limit capped at 90% of FD value, which might be low for users needing higher limits.
  • If all FDs are withdrawn, the card will be automatically closed.
  1. Standing Instructions Not Allowed:
  • No option to set up auto-pay for bill payments, which could lead to missed due dates.

Is It Worth It?

  • For Beginners: Perfect for first-time credit card users or those building their credit score.

  • For Online Shoppers: Highly rewarding for users shopping on Myntra, Flipkart, or ClearTrip and using Super Money UPI.

  • For Advanced Users: May feel restrictive due to low credit limits and lack of premium perks.

If you join using my invite link and make UPI transaction, you get additional cashback.
My Invite Link: https://link.super.money/JC4QzzGGiMb

Disclaimer: This is not a referral link and I do not earn anything.

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