MagniFi Fi-Federal Credit Card

Below are the key details of the MagniFi Credit Card:

Here are the key features & benefits of the MagniFi Credit Card.

Zomato

• 20% off (maximum up to ₹100) on Zomato. 
• Valid on a minimum order value of ₹500.
• Offer valid once a month, on food orders only.

Zepto

• 20% off (maximum up to ₹100) on Zepto. 
• Valid on a minimum order value of ₹500.
• Offer valid once a month, on food orders only.

Amazon

• 20% off (maximum up to ₹100) on Amazon. 
• Valid on a minimum order value of ₹500.
• Offer valid once a month, on food orders only.

BookMyShow

• 20% off (maximum up to ₹100) on BookMyShow. 
• Valid on a minimum order value of ₹500.
• Offer valid once a month, on food orders only.

Fi-Coins

• Earn 5 Fi-Coins (1X rewards) for every eligible offline and online spend of ₹100. 
• Earn 20 Fi-Coins (4X rewards) for spending every ₹100 on select brands (Uber, UrbanCompany, Flipkart, MakeMyTrip) on the weekends.
• You can earn up to 1000 Fi-Coins per eligible transaction.

Fi-Points

• Earn 2 Fi-Points for every eligible offline and online spend of ₹100 on weekdays (Monday - Friday).
• 2000 Fi-points as part of 1x rewards and a maximum of 2000 Fi-points as a part of 10x weekend rewards in a statement cycle
• Earn 200 Fi Points on spending ₹1,000 on eligible spends.
• 100 Fi Points can be converted to ₹25.
• You can earn up to 2,000 Fi-Points (worth ₹500) as part of 1x rewards and 10x weekend (Saturday - Sunday) rewards in a statement cycle. 
• Wallet reloads, jewellery & gold, rental payments/ real estate, insurance payments, education, government services, fuel, utilities, agricultural services, horticultural & vet services, business services, cash advances or any fees & charges on the card are not eligible for Fi-Points.

Other Benefits

• No joining and annual fees.
• No minimum spend.
• Free stays at SLS Dubai and Nikki Beach Resort & Spa.
• Get up to 10% off at Qatar Airways.
• Book your car rentals with Avis and get discounts.
• Get 50% on BookingBash.
• Save up to 5% on Japan Airlines.

The charges associated with the MagniFi Fi-Federal credit card are mentioned below:

• Joining fee: Nil.
• Annual fee: Nil.
• Foreign currency mark-up/ forex charges: 3.5% + GST.
• Card reissuance/ replacement fee: ₹250 + GST.
• Interest rate for EMI transactions: Up to 15% p.a., depending on tenure. 
• Overdue interest on revolving credit & cash advances: 3.75% per month (45% p.a.) from the date of transaction/ withdrawal.
• Late payment/default charges: Up to ₹2,000, depending on the total amount due.
• Auto debit reversal/ dishonour charges: ₹250 + GST.
• Convenience fee for fuel transaction surcharge, utility transaction, and rent & wallet load: 1% + applicable GST (up to ₹3,000 per transaction) on fuel spends over ₹50,000/ month.
• EMI processing fee: ₹200 or 2.5% of principal amount (whichever is higher).
• EMI foreclosure charges: 3% + GST on the remaining principal.

Eligibility for the MagniFi Fi-Federal Credit Card requires meeting the following criteria:

• Occupation: You must be salaried or self-employed.
• Nationality: Indian resident.
• Age: Must be at least 18 years old.
• Income: A stable source of income with a minimum monthly income of ₹20,000.
• Credit Score: Minimum of 700 - 750.

• Existing Users: No additional documents or income proof are required for existing Fi users. The entire process is completely digital, and your eligibility is assessed with a credit score check. No paperwork or uploads are needed. You can apply online with your PAN and Aadhaar details only.
• New Users: If you are new to Fi, you will be required to complete a quick video KYC (vKYC) for the onboarding process. During the call, you may need to showcase your physical PAN card for verification.

Steps to apply for the MagniFi Fi-Federal Credit Card for existing Fi users:

• Download and open the Fi app.
• Go to the ‘Credit Cards’ section.
• Check your eligibility for the card.
• Click on the ‘Apply’ button.

Steps to apply for the MagniFi Fi-Federal Credit Card for new Fi users:

• Download and open the Fi app.
• Select ‘Credit Card’ during signup.
• Fill in some basic details and complete KYC online.
• Upon approval, your MagniFi Fi-Federal Credit Card will be sent to your doorstep.