What about a credit card that has no annual fee and no forex charges? Meet the new fintech Scapia, which has introduced a co-branded credit card with Federal Bank. Travellers will appreciate the new Scapia Federal Bank credit card. There are no joining or annual fees associated with it. The card’s USP is its zero forex markup on international transactions. Scapia Federal Bank credit card offers 2% to 4% back on spending, along with unlimited access to domestic airport lounges.
Scapia Federal Bank Credit Card Eligibility Criteria
This is a co-branded credit card in association with Federal Bank. So if you already have some other Federal Bank credit card or personal loan, you are not eligible to get the Scapia card. The same also applies if you have OneCard with Federal Bank. Federal Bank’s one card policy plays spoilsport here. Hope it gets relaxed in the future or Scapia ties up with more banks like OneCard.
Fees
| Joining Fee | LTF |
| Annual Fee | LTF |
| Forex Markup | Zero |
In summary, the Scapia Federal Bank credit card is an LTF offering with zero forex markup. This is a pretty good reason to get it unless you have some other credit card that offers your zero forex markup.
Rewards on the Scapia Federal Bank Credit Card
| Type of Spend | Scapia Coins | Reward Rate |
|---|---|---|
| All Spends | 10% | 2% |
| Travel Spends on Scapia app | 20% | 4% |
| Forex Spends | Zero | 0% |
| Fuel Surcharge Waiver Transactions | Zero | 0% |
| Wallets, EMIs, Rent, Education and Gift Cards | Zero | 0% |
We earn Scapia coins for spends on the card. The card features advertise the reward rates as 10% and 20% Scapia coins. But, this translates to a return between 2% to 4% as 5 Scapia coins are equal to Rs 1. Scapia’s app doubles up as a travel booking app. Any flight or hotel bookings on the app get a 4% reward rate.
We do get zero forex markup on the Scapia credit card but no rewards. So, no gain or loss over here when you use the Scapia card for foreign currency transactions.
Rewards Redemption
The earned Scapia coins can be redeemed on the Scapia mobile app at the rate of 5 Scapia coins equal to Rs 1. The redemption can only be done for travel bookings. There is no option for cashback redemption.
There is no limit on how many Scapia coins you can redeem. You can even pay 100% of your travel cost through coins if you have them.
Unlimited Domestic Airport Lounge Access
Unlimited domestic airport lounge access is the second USP of the Scapia Federal Bank credit card. Spend Rs 5000 in a month to unlock this feature. For a LTF credit card, this is one of the best features we have come across. With many premium credit cards putting high spend conditions on airport lounge access, this is a welcome benefit.
Pros and Cons
Pros
- Zero forex markup
- Minimum reward rate is 2%
- Unlimited complimentary airport lounge access with minimal spends condition
Cons
- Difficult to get this card considering Federal Bank’s restrictions
- Reward rate of 4% on travel spends is less
Final Thoughts
Scapia credit card is an interesting new Fintech offering. It has a completely digital onboarding process which makes it easy to get the card. The base reward rate of 2% is quite good for an LTF credit card. The added perks of zero forex markup with unlimited domestic airport lounge access make it an even better option.
However, we want to see a reward rate of more than 4% for travel spends on the Scapia app. There are many portals where we can book flight tickets at 10% discount. So, 4% reward rate for travel spends does not seem like a lucrative proposition.
But, the major limitation that we see on the card is its co-brand bank partner – Federal Bank. Considering Federal Bank’s one credit card limit, many interested customers won’t be able to get this card.
Frequently Asked Questions
Scapia Federal Bank Credit Card
8 thoughts on “Scapia Federal Bank Credit Card”
Will this card provide any fedral bank offers running on e-commerce website ( e.g cleartrip, flipkart, amazon etc)? Also, I am trying to apply for this credit card but I am getting following error message: “Sorry, we are facing a downtime with our partners” . Any workaround for this issue?
Nope, this is not eligible for any Federal Bank offers. That message is temporary due to maintenance, should go away when you try again.
Can this be used on international website for purchase with zero markup fees or not .
Yes as long as you pay in international currency.
Is it eligible for eCommerce 10% instant discount offer?
No, it does not work for Federal Bank offers.
Lounge access is available in which cities?
This is now updated in the article.