Canara Bank MasterCard Gold Credit Card

The Canara Bank MasterCard Gold Credit Card offers rewarding benefits and ensures global acceptance for a seamless experience. Cardholders can enjoy cashback or reward points on daily expenses like groceries and fuel at zero joining and annual fees.  

The Canara Bank MasterCard Gold Credit Card offers global acceptance along with the option to earn attractive rewards or cashback on routine spending, such as groceries, fuel, and bills. The card also provides other benefits such as emergency card replacement services for added convenience, flexible credit limits, and many more for a seamless experience.

Features of Canara Bank MasterCard Gold Credit Card 

The key features of the Canara Bank MasterCard Gold Credit Card are mentioned below: 

  1. Accepted for both domestic and international transactions. 
  1. International or global usage can be activated via net banking, mobile banking, or by visiting the base branch. 
  1. ATM cash withdrawals 
  2. Point of Sale (PoS) purchases 
  1. E-commerce transactions 
  1. Transaction limits can be set by On/Off settings and are manageable via net/mobile banking or branch visit. 
  1. The card is available for both domestic and international use 
  1. Maximum credit limit: Rs.25 lakh per month 
  1. Cash withdrawal limit: 50% of credit limit or Rs.50,000, whichever is lower 
  1. Expected minimum annual turnover: Rs.25,000 
  1. For every Rs.100 spent on PoS or e-commerce, the card offers two reward points. 
  1. Allows redemption points for cashback or goods at www.canararewardz.com.
  1. Fraudulent transaction cover: Rs.5 lakh 
  1. Baggage insurance: Up to Rs.25,000 
  1. Purchase protection: Up to Rs.25,000 
  1. Accident cover (Air accident): Rs.8 lakh for self and Rs.4 lakh for spouse
  1. Accident cover (non-air accident): Rs.4 lakh for self and Rs.2 lakh for spouse
  1. Easy EMI conversion is available through the Canara ai1 app.

Benefits of Canara Bank MasterCard Gold Credit Card

The Canara Bank MasterCard Gold Credit Card offers a host of benefits to the cardholders which are mentioned below: 

  1. Offers interest-free credit on purchases made using this card for up to 50 days. 
  1. Easy EMI conversion available via the Canara ai1 app. 
  1. Ensures access to ATM cash withdrawals and other non-financial services. 
  1. Shop conveniently at PoS terminals at merchant outlets. 
  1. Benefit from online shopping discounts and offers 
  1. No annual, joining, or enrolment fees. 
  1. Offers reward points on every PoS and e-commerce transaction. 

Eligibility Criteria for Canara Bank MasterCard Gold Credit Card

The eligibility criteria that must be fulfilled to apply for Canara Bank MasterCard Gold Credit Card are mentioned below: 

  1. For individuals, the gross annual income should be Rs.2 lakh. 
  1. For staff members the minimum annual gross income and net take-home salary per month should be Rs.60,000 and Rs.4000, respectively. 

Fees and Charges of Canara Bank MasterCard Gold Credit Card 

The fees and charges applicable on Canara Bank MasterCard Gold Credit Card are given in the table below: 

Fees and charges 

Amount 

Enrolment fee 

Nil 

Annual fee 

Nil 

Inactivity fee (If the turnover of the card in the card year is less than Rs.2 lakh) 

Rs.150 

Credit-free period 

20 to 50 days 

Card replacement fee (for both primary and add-on card) 

Rs.300 per card 

Revolving amount charges 

30% per annum (2.50% per month) 

Minimum Amount Due - MAD 

5% of the total amount outstanding (minimum of Rs. 100) plus all applicable charges/fees/taxes plus EMI (if EMI availed by cardholder) plus over the limit amount (if any) 

Foreign currency markup 

3% 

Cheque dishonor charges 

Rs.50 

EMI Processing Fee 

2% of transaction amount (Minimum and maximum of Rs.100 and Rs.200, respectively) 

Rate of Interest on EMI 

13% p.a. for EMI period of three, six and nine months14% p.a. for EMI period of 12,18 and 24 months. 

Fuel surcharge 

1% of transaction value with minimum fee of Rs.10 plus applicable taxes. 

Transaction fee for cash withdrawal 

3% of the transaction amount (Minimum of Rs.30 for every Rs.1000) 

Late payment charges 

Rs. 250 plus GST will be charged in addition to the existing service charges on carried over balance. 

Note: 

  1. All the above charges are excluding of 18% GST (Goods and Services Tax). 
  1. Changes in fees and charges are at the discretion of the bank. 
  1. Pocket expenses for any services will be in addition to the fees or charges mentioned in the table above. 

FAQs on Canara Bank MasterCard Gold Credit Card

  • What kind of rewards does the Gold Credit Card offer?

    You can earn reward points on eligible purchases like groceries, fuel, dining, and utility bills made using MasterCard Gold credit card, which can be redeemed for various products or services. 

  • Is the Canara bank MasterCard Gold credit card suitable for international use?

    Yes, the card is internationally valid and can be used for purchases and ATM withdrawals abroad, subject to foreign exchange regulations. 

  • What amount should I pay if the turnover of my Canara Bank MasterCard Gold credit card is less than Rs.25,000?

    You must pay an inactivity fee of Rs.150 in case the card turnover is less than Rs.25,000 in the card year. 

  • Are there any annual or joining fees for the Canara Bank MasterCard Gold credit card?

    No, there are no annual or joining fees for the Canara Bank MasterCard Gold credit card. 

  • What is the credit limit for the Gold Credit Card?

    The credit limit for MasterCard Gold credit card is Rs.25 lakh per month. The credit limits are assigned based on the applicant’s income, credit history, and eligibility, and may vary from one customer to another. 

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