One Card: Value Back, please share your thoughts on it.

[Skylar]

Recently, I acquired One card, and I'm having: ICICI Apay, Axis ACE, and Tata Neu Plus. But let’s shift our focus to the lesser-discussed aspect—the gift cards. These little gems offer intriguing value back percentages across various platforms:
As of 16/02/2024
Myntra: 6% value back
Flipkart: 3% value back.
Kalyan: 2% value back
MakeMyTrip (MMT): 5% value back
Nykaa: 5% value back
First Cry: 3% value back
SonyLiv: 30% value back on a 12-month subscription.
The Man Company: 12% value back.
Yatra: 8% value back
Bata: 10% value back.
And here’s the cherry on top: every 500 coins can be converted into ₹50/- cash.
Now, why isn’t anyone buzzing about this card? My personal experience with it spans just a month, and I find myself pondering its pros and cons. Reviews of it on YouTube and Threads confuse me, What's your thoughts on this card?

Should I continue using it alongside my trusty Apay and ACE, or is there a hidden catch?

 

[17ysaurabh]

I have a slightly different opinion about this. I feel OneCard CC has a limited use case. Plus most of the value backs are less than or equal to 5%.

I can easily get 5% cashback on SBI Cashback CC.
Also, using HDFC Millenia CC on the Smartbuy/Gyftr platforms you get 35% off SonyLiv and 10% off on Bata.
Besides, both of these cards have numerous other benefits.

I don't know about this coins-to-cash conversion. Can you explain that in brief? How does that work?

 

[Skylar]

I wish I had SBI Cashback and HDFC Millenia, but their fees are too high for my annual spending.

Regarding the coins-to-cash conversion, based on the screenshot, it appears that every 500 coins can be converted into ₹50, and every 1000 coins can be converted into ₹100. Each coin has a value of ₹0.10 (Piasa). For instance, consider Myntra: with a 6% value back, if we purchase a 1000 GV (Gift Voucher), we receive 600 coins. Calculating the value: 600 × ₹0.10 = ₹60.

Coins are essentially reward points, and even value back is provided in the form of coins. We can convert these coins into cash, which will be applied to our card limit (adjusted in the bill).