scapia credit card review

[JS_JeevaSaravanan]

After learning about the Scapia card from various sources, I was particularly drawn to its "zero markup fees" feature, which is quite appealing in the free credit card segment. I intended to apply for one and visited bekifaayati.co to gather insights and reviews. However, upon reading the thread above, I realized that it might not be the right time to get the Scapia card at the moment. Therefore, I've decided to wait for the next 3-4 months before making a decision. I appreciate the observations shared by everyone in this thread. Please continue to keep it updated with any further developments regarding the Scapia card.

 

[anuragmukherjee28]

Scapia Credit Card 2024 updated review

Scapia, a travel tech credit card start-up backed by Federal Bank, has recently reduced credit limits for many customers. Some users expressed concern on social media about significant decreases, with limits dropping drastically from ₹8 lakh to ₹20,000.Federal Bank also clarified that these revisions are not permanent and will change dynamically based on the user's usage of the card .

The reduction in credit limits could be due to the strain on capital caused by high-risk weights and insufficient card usage. Risk weight refers to the proportion of capital that a financial institution, such as a bank, is required to hold in relation to the risk associated with its assets. In the context of credit cards, the risk weight reflects the perceived risk associated with the credit extended to cardholders.

Now, let's talk about the other features and benefits of the Scapia Credit Card.

scapia credit card
Bank/ Brand	Scapia (travel app) + federal bank
Joining /Annual Fees	Lifetime Free Card
Category of Card	Travel Internation Credit Card
Benefits	zero Forex Charges, Cashback on most of transactions, etc
Rewards / Cashbacks	cashbacks in the form of Scapia coins ( 1 coin = 0.2 ruppes)
Ranking	4/5 ( for a travel International Card

Scapia card is a co-branded credit card with a federal bank . VISA is the Card Network for this card

Joining Fees / Annual Fees​

• Zero Joining Fees
• Zero Annual Fees

Scapia Coin Value​

1 Scapia coin = 0.20 rupees
Validity - 36 months

Benefits​

• You can pay your credit amount within 48 days with zero interest
• 10% Scapia coins (2% Cashback ) on all purchases ( both online and offline)

But there are certain transactions that does not fetch Scapia Coins

• • Transaction less than 20 rupees
  • Scapia card bill payment
  • Late fee or any other credit card charges
  • ATM withdrawal cash
  • Loading e-wallets
  • EMIs
  • Fuel Surcharges
  • Rent transactions
  • Education and school fees
  • Crypto transactions
  • Gift cards
  • International Transactions
• 20% Scapia coins (4% cashback) on all travel related bookings on Scapia App
• Unlimited VIP domestic Lounge Access by spending 5000 per month ( List of all the Lounge pdf also attached with this article )
• Zero forex fees on all interaction transactions ( but no Scapia coins on these transactions )
• 3 month no cost emi for travel spends on Scapia app ( coming soon as mentioned on website )

Fees & charges​

• If you can't repay the credit, you can convert your payment into EMI but you will be charged 16% Interest rate yearly
• Late payment charges - Refer to the table below

Statement Balance (Rs.)	Late Payment Charge (Rs.)
Less than 100	0
100 to 500	100
501 to 5,000	500
5,001 to 10,000	600
10,001 to 25,000	750
25,001 to 50,000	950
More than 50,000	1000

• Card Reissuance/Replacement Fees - Rs. 200
• Overlimit Charges 2.5% of the overlimit amount subject to a minimum of Rs. 500
• Loan Processing Fee - 2.5% or Rs. 200, whichever is
• Pre-Closure Charges - 2%+GST on the remaining principal as applicable

I've attached all the charges- PDF issued by Federal Bank and Scapia for your reference.

Cash withdrawal​

• You can Withdraw 10% of the approved credit limit
• The Cash withdrawal fees - 2.5% of amount withdrawn (minimum 500 rupees)
• Cash withdrawal interest - 3.49% per month from the date of withdrawal

Scapia App Review​

While booking flights and hotels on Scapia, I've noticed their prices can be competitive with other travel booking apps. However, it's a case-by-case basis; sometimes Scapia offers better deals, while other times other apps might be cheaper.

Flaws with this Card​

• Limited Redemption: Rewards can only be redeemed for travel purchases made through the Scapia app. This restricts your flexibility compared to cards offering cash back, points transfer to travel partners, or redemption on their platform.
• Eligibility Restrictions: Existing Federal Bank credit cardholders (including those from fintech partners like Fi and OneCard) or loan holders might not be eligible for Scapia.
• Scapia Coins is valid for 36 months ,after that they will expire
• The credit Limit might get reduced , if you don't use the card often

Conclusion​

If you travel frequently and are looking for a free forex card, then this card is the one for you. It has zero joining and annual fees. You also get unlimited lounge access for spending just ₹5,000 per month, which is a big plus. Additionally, you get a 48-day repayment window, compared to the standard 30 days offered by other credit cards. However, if you are not a frequent traveller, this card won't make much sense for you as you wouldn't be able to utilise the Scapia Coins or the lounge access.


Two attachments with this article

1. All charges and Fees List
2. All Acceptable Lounges List

 

[rohit_20085]

Does anybody has first hand experience of Scapia credit band in collaboration with federal bank

Yes, I do have experience of scapia, which was not good. Hence , I closed the card within 4 months of issuance

 

[zacobite]

Scapia Credit Card 2024 updated review

Scapia, a travel tech credit card start-up backed by Federal Bank, has recently reduced credit limits for many customers. Some users expressed concern on social media about significant decreases, with limits dropping drastically from ₹8 lakh to ₹20,000.Federal Bank also clarified that these revisions are not permanent and will change dynamically based on the user's usage of the card .

The reduction in credit limits could be due to the strain on capital caused by high-risk weights and insufficient card usage. Risk weight refers to the proportion of capital that a financial institution, such as a bank, is required to hold in relation to the risk associated with its assets. In the context of credit cards, the risk weight reflects the perceived risk associated with the credit extended to cardholders.

Now, let's talk about the other features and benefits of the Scapia Credit Card.

scapia credit card
Bank/ Brand	Scapia (travel app) + federal bank
Joining /Annual Fees	Lifetime Free Card
Category of Card	Travel Internation Credit Card
Benefits	zero Forex Charges, Cashback on most of transactions, etc
Rewards / Cashbacks	cashbacks in the form of Scapia coins ( 1 coin = 0.2 ruppes)
Ranking	4/5 ( for a travel International Card

Scapia card is a co-branded credit card with a federal bank . VISA is the Card Network for this card

Joining Fees / Annual Fees​

• Zero Joining Fees
• Zero Annual Fees

Scapia Coin Value​

1 Scapia coin = 0.20 rupees
Validity - 36 months

Benefits​

• You can pay your credit amount within 48 days with zero interest
• 10% Scapia coins (2% Cashback ) on all purchases ( both online and offline)

But there are certain transactions that does not fetch Scapia Coins

• • Transaction less than 20 rupees
  • Scapia card bill payment
  • Late fee or any other credit card charges
  • ATM withdrawal cash
  • Loading e-wallets
  • EMIs
  • Fuel Surcharges
  • Rent transactions
  • Education and school fees
  • Crypto transactions
  • Gift cards
  • International Transactions
• 20% Scapia coins (4% cashback) on all travel related bookings on Scapia App
• Unlimited VIP domestic Lounge Access by spending 5000 per month ( List of all the Lounge pdf also attached with this article )
• Zero forex fees on all interaction transactions ( but no Scapia coins on these transactions )
• 3 month no cost emi for travel spends on Scapia app ( coming soon as mentioned on website )

Fees & charges​

• If you can't repay the credit, you can convert your payment into EMI but you will be charged 16% Interest rate yearly
• Late payment charges - Refer to the table below

Statement Balance (Rs.)	Late Payment Charge (Rs.)
Less than 100	0
100 to 500	100
501 to 5,000	500
5,001 to 10,000	600
10,001 to 25,000	750
25,001 to 50,000	950
More than 50,000	1000

• Card Reissuance/Replacement Fees - Rs. 200
• Overlimit Charges 2.5% of the overlimit amount subject to a minimum of Rs. 500
• Loan Processing Fee - 2.5% or Rs. 200, whichever is
• Pre-Closure Charges - 2%+GST on the remaining principal as applicable

I've attached all the charges- PDF issued by Federal Bank and Scapia for your reference.

Cash withdrawal​

• You can Withdraw 10% of the approved credit limit
• The Cash withdrawal fees - 2.5% of amount withdrawn (minimum 500 rupees)
• Cash withdrawal interest - 3.49% per month from the date of withdrawal

Scapia App Review​

While booking flights and hotels on Scapia, I've noticed their prices can be competitive with other travel booking apps. However, it's a case-by-case basis; sometimes Scapia offers better deals, while other times other apps might be cheaper.

Flaws with this Card​

• Limited Redemption: Rewards can only be redeemed for travel purchases made through the Scapia app. This restricts your flexibility compared to cards offering cash back, points transfer to travel partners, or redemption on their platform.
• Eligibility Restrictions: Existing Federal Bank credit cardholders (including those from fintech partners like Fi and OneCard) or loan holders might not be eligible for Scapia.
• Scapia Coins is valid for 36 months ,after that they will expire
• The credit Limit might get reduced , if you don't use the card often

Conclusion​

If you travel frequently and are looking for a free forex card, then this card is the one for you. It has zero joining and annual fees. You also get unlimited lounge access for spending just ₹5,000 per month, which is a big plus. Additionally, you get a 48-day repayment window, compared to the standard 30 days offered by other credit cards. However, if you are not a frequent traveller, this card won't make much sense for you as you wouldn't be able to utilise the Scapia Coins or the lounge access.


Two attachments with this article

1. All charges and Fees List
2. All Acceptable Lounges List

i have always stayed away from new age fintechs.. flash in the pan.. core banks have gd products.. these target the low spender with cashback and lure them into debt.. too many such stories.. 8L to 20k..its a joke.. speaks about their lack of customer centricity