One Card App Scam !!

Maverick

KF Rookie
I am here to highlight a scam done by One Card App by putting false terms and conditions for buying Gift Card from the App.
I had recently purchased a Max fashion Gift Card from One Card App and read the terms and conditions mentioning its redeemable online on max fashion website.
On Redemption, it stated invalid Gift Card for which I raised a complaint to One Card.
One Card Customer Support Executive asked me contact Qwik silver Gift Card issuer directly and closed the ticket without any resolution.
After multiple follow ups, and raising the complaint to One Card Nodal Officer, they called and told me the Gift Card is redeemable only at offline stores.
I sent them the terms and conditions screenshot and App Video Recording, and they intentionally delayed the response and after one month they called up again to tell me that it was an error at their end and they have shared a strong feedback to the back end team and removed the Max Fashion Gift Card buying option from their app, and shamelessly asked me to redeem it at offline store. I had asked them for full refund and they denied the same.

I have raised the complaint to RBI against Federal bank because One Card ( FPL Technologies Pvt. Ltd ) is not listed on RBI CMS portal.

Now the bigger problem is how these Fintech Collaboration is dangerous for Consumers as its managed by the amateur /unreliable Companies which are safe as they doesnt comes under the RBI system. On the other hand I think Federal Bank will deny any role in the issue as they are only the Credit Facility.

Any Expert opinion on the issue would be of great help.
 

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17ysaurabh

KF Mentor
I am here to highlight a scam done by One Card App by putting false terms and conditions for buying Gift Card from the App.
I had recently purchased a Max fashion Gift Card from One Card App and read the terms and conditions mentioning its redeemable online on max fashion website.
On Redemption, it stated invalid Gift Card for which I raised a complaint to One Card.
One Card Customer Support Executive asked me contact Qwik silver Gift Card issuer directly and closed the ticket without any resolution.
After multiple follow ups, and raising the complaint to One Card Nodal Officer, they called and told me the Gift Card is redeemable only at offline stores.
I sent them the terms and conditions screenshot and App Video Recording, and they intentionally delayed the response and after one month they called up again to tell me that it was an error at their end and they have shared a strong feedback to the back end team and removed the Max Fashion Gift Card buying option from their app, and shamelessly asked me to redeem it at offline store. I had asked them for full refund and they denied the same.

I have raised the complaint to RBI against Federal bank because One Card ( FPL Technologies Pvt. Ltd ) is not listed on RBI CMS portal.

Now the bigger problem is how these Fintech Collaboration is dangerous for Consumers as its managed by the amateur /unreliable Companies which are safe as they doesnt comes under the RBI system. On the other hand I think Federal Bank will deny any role in the issue as they are only the Credit Facility.

Any Expert opinion on the issue would be of great help.
I think it is more of a MAX Scam and not OneCard.
Something similar has happened to me. One day I was shopping at an offline Max store. At the payment desk, they asked me to buy an MAX membership and said I would be getting three Rs. 250 Gift cards/coupons which can be used on purchases both online and offline.
But later when I tried shopping online using the Gift card /coupon, it gave me an error that it can be used at offline stores only.

P.S. I'm never buying a MAX gift card ever again.
 
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D.K

KF Rookie
I am here to highlight a scam done by One Card App by putting false terms and conditions for buying Gift Card from the App.
I had recently purchased a Max fashion Gift Card from One Card App and read the terms and conditions mentioning its redeemable online on max fashion website.
On Redemption, it stated invalid Gift Card for which I raised a complaint to One Card.
One Card Customer Support Executive asked me contact Qwik silver Gift Card issuer directly and closed the ticket without any resolution.
After multiple follow ups, and raising the complaint to One Card Nodal Officer, they called and told me the Gift Card is redeemable only at offline stores.
I sent them the terms and conditions screenshot and App Video Recording, and they intentionally delayed the response and after one month they called up again to tell me that it was an error at their end and they have shared a strong feedback to the back end team and removed the Max Fashion Gift Card buying option from their app, and shamelessly asked me to redeem it at offline store. I had asked them for full refund and they denied the same.

I have raised the complaint to RBI against Federal bank because One Card ( FPL Technologies Pvt. Ltd ) is not listed on RBI CMS portal.

Now the bigger problem is how these Fintech Collaboration is dangerous for Consumers as its managed by the amateur /unreliable Companies which are safe as they doesnt comes under the RBI system. On the other hand I think Federal Bank will deny any role in the issue as they are only the Credit Facility.

Any Expert opinion on the issue would be of great help.
One Card is of Bank of Baroda
 

Maverick

KF Rookie
Received a call from one card escalation team and mail for raising complaint to RBI. Assured me for full refund in 5 working days. To my surprise, it was least expected from Team One Card to mellow down so quick from their previous tone and attitude. All thanks to the RBI ombudsman.
 

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Received a call from one card escalation team and mail for raising complaint to RBI. Assured me for full refund in 5 working days. To my surprise, it was least expected from Team One Card to mellow down so quick from their previous tone and attitude. All thanks to the RBI ombudsman.
Now when you receive the refund, try to claim it in max offline stores.
 

Hema Kulkarni

KF Mentor
Hi! Not sure if this is related to the above conversation. But is this card still worth taking? Can someone please help with a brief review - preferable someone who has used the card for sometime?
 

Manoj Kohli

KF Expert
Hi! Have been using this card for more than 1 year now - I feel I can answer your query. I feel that One Card has undergone significant changes.

bekifayaati One Card App

When this card was launched in 2020-21, the credit card landscape in India was quite different. Every day, a new FinTech company was launching its credit card, and new Buy Now Pay Later apps were entering the market. However, in 2023, RBI has introduced various rules and regulations, resulting in several cards being changed or discontinued. One Card has also made some changes due to this.

  • The first change is that One Card has discontinued giving rewards for categories like rent payments, cash withdrawals, and wallet loading. Honestly, I am fine with this change because most cards have also stopped giving rewards in these categories.

  • The second change is that previously, One Card used to offer a lot of deals on Swiggy, Zomato, Big Basket, etc. Lately, they have reduced the number of these offers, and the frequency of such offers has decreased. After this change, the utility of this card has decreased for me personally.

  • The third change is the introduction of Gift Vouchers. Now, using the One Card App, you can purchase gift vouchers from companies like Swiggy, Zomato, Amazon, etc. The benefit is that these gift cards offer cashback ranging from 1% to 7%, and these offers change over time. However, there's one condition - these gift vouchers come with limited validity, so you need to use them within a certain timeframe, or they'll expire.

Personally, I found this 3rd condition a bit restrictive because it requires some planning to use these vouchers effectively. First, you need to buy gift vouchers worth a specific amount from One Card, then redeem them using the app, all for a 1-2% cashback.

Next, there are two features called 'One Cash' and 'One Trip.' 'One Cash' is similar to a personal loan, where you can avail of a loan up to your credit card limit. 'One Trip' is for people traveling abroad and offers benefits like an extra 5% on hotel stays, but I haven't personally used these features, so I can't comment on that.


After discussing all the changes in One Card, does it still make sense to get this card?

Honestly, the changes One Card made in the past year are relatively minor, and I don't think they will significantly impact the decision to get this card.

A few things I still like about this card are that it's lifetime free, the application process is quite smooth, it has a metal card feel, and the user interface of its app is excellent.

In terms of onboarding and the overall experience of using this card, I believe no other player comes close. Even established players like HDFC, Axis, and IDFC don't offer as smooth onboarding and card usage experiences (maybe other people can confirm this?).

For those who apply for FD-backed cards, One Card offers a credit limit of up to 100% of their FD amount, which is the best among all the secured credit cards we've seen. Other companies usually offer credit limits of 80-90% of the FD amount.

Another advantage of this card is its low Forex Markup Fee of just 1%, while other cards typically charge around 2.5%.

However, besides these advantages, the card's utility is quite limited. The reward rate of One Card has always been quite low. You earn 1 reward point for every ₹50 spent, and each reward point is worth 10 paise. When converted to a percentage, this reward rate is a mere 0.2%. Even with the accelerated reward program, where you can earn 5X reward points in selected categories, your reward rate remains just 1%.

As you might know, there are several other lifetime free or low-fee cards in India that offer rewards ranging from 5% to 7.5%. For instance, cards like Amazon ICICI, Flipkart Axis, SBI Cashback, and Myntra Kotak Credit Card offer 5-7% rewards in preferred categories and a flat 1% in other categories. This is like 5X the reward rate of One Card for an annual fee of ₹500. Small price to Pay for 5X rewards…

One Card does not excel in its rewards program, and its other fees are quite high. They charge between 2.50% to 3.50% per month for late payments, which translates to an annual interest rate of up to 42%, the highest among credit cards.

Additionally, if you lose your metal card, you'll be charged ₹3,000 for a replacement. Even if you decide to close your card within the first 6 months of activation, you'll still need to pay ₹3,000 as a cancellation fee.

Considering that One Card primarily targets students, these fees seem a bit high.


So should you get this card or not?

If you don't have any credit card yet and are thinking of getting your first one, then One Card could make sense for you. However, you should be extremely cautious while using this card because the penalties for any mistakes are quite high.

On the other hand, if you are an experienced credit card user, I would definitely not recommend this card to you. While it may look good on the surface, its utility is limited. It's like having a Maruti car dressed up to look like an Audi or BMW.

There are much better lifetime free cards out there, especially if you fall into the second category of users.
 

Andy

KF Rookie
I recently fell victim to an email scam on January 16, 2024, after 10:00 AM. The scam involved a fraudulent request from an individual posing as our company's director, asking me to purchase Apple Store cards on their behalf. Unfortunately, I have provided the scammer with the details of the purchased Apple Store codes, totaling Rs 15,000. i have filed a complained to cyber crime police also freeze that voucher by calling in apple. How many chances are there to get my money back? and also how long the cyber police take time to solve that?
 
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