OLA Money SBI Credit Card Review

After the launch of Paytm First Credit Card, OLA too has launched its credit card OLA Money SBI Credit Card on May 15, 2019. The network provider is Visa. The card offers exiting features and cashback which we discuss in the post below.

OLA Money SBI Credit Card Review
OLA Money SBI Credit Card Review

Ola Money SBI Credit Card: Fee, Rewards, Benefits


  • Joining Fee – 0
  • Annual Fee – Rs 499 + GST second year onwards
  • The annual fee will be waived off on spending Rs 1 lakh in a year.

Also Read: Know how to get Credit card against Fixed Deposit


  • OLA Rides: 7% cashback on your Ola rides (maximum cashback limited to Rs 500 per month). Essentially you are getting benefit up to spending Rs 7,000 per month on OLA rides.
  • ClearTrip Flight Booking: 5% cashback on flight booking on ClearTrip (maximum cashback cap is Rs 5,000 for domestic and 10,000 for international flight booking and no other promotions can be applied)
  • ClearTrip Hotel Booking: 20% cashback on all domestic hotel booking and 6% on all international hotel booking via clearTrip (No cashback limit but no other promotions can be applied)
  • Dineout: 20% cashback at 6,000 restaurants via Dineout (maximum cashback limit for 12 months is Rs 2400).
  • Fuel: 1% fuel surcharge waiver
  • Other Spends: 1% cashback on all other spends without any limit. This offer is not valid for Fuel transactions.

The reward system is a bit complex as it has capping by spending. Also there is no rewards for fuel purchase. For all other spending there is 1% cashback which is good for an entry level card.

Reward Redemption

The cashback is in the form of OLA Money and is credited to the wallet with-in 3 days of transaction. You can use OLA money for OLA rides, merchant outlets and bill payment etc.

Early Bird Offer

If you apply for the card before 30 June, you would be eligible for early bird offer:

  • Rs 500 Ola money after making the first transaction
  • Rs 300 cleartrip voucher
  • 1+1 on food, drinks & buffet via Dineout. Valid for 3 months

Read: 9 Ultimate Tips to Improve Your Credit Score

Evaluating Ola Money SBI Credit Card:

The Good?

  • Good rewards structure. Very useful for people who use OLA regularly
  • Free for first year
  • Early bird offer
  • Stylish design of the card

The Bad?

  • Membership Fee from 2nd year
  • For Cleartrip the offer cannot be clubbed with any other offer on Cleartrip.

Read: Which bank offers Highest Interest Rate on FD

How to Apply for Ola Money SBI Credit Card?

OLA has a landing page for the credit card where you can express interest. It’s a short form which asks for Phone number and PAN card number. They may use the information to pull out credit bureau score and offer the card accordingly.

Apply for Ola Money SBI Credit Card
Apply for Ola Money SBI Credit Card

Ola users will be able to apply, view and manage their Credit Card directly on the Ola app.


OLA card seems to be more rewarding than recently launched Paytm First Credit Card as it offers more cashback options, the easy application process, first-year free credit card and welcome gifts which you would miss in Paytm credit card.

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