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Did you know that the Scapia credit card offers unlimited domestic lounge access on a minimum monthly spend of Rs. 5,000? That’s right! In this article, I’ll cover the main things it offers, the perks of having it, how it stacks up against others, how to get one, the costs involved, who can get it, and additional details.
About Scapia Company
Image Source: Canva/Twitter/Anil Goteti
Anil Goteti started Scapia, a financial travel company. Before this, he was a top manager (Vice President) at Flipkart, and he’s extremely into exploring new places. Anil’s goal is to connect with younger adults, Millennials, and Gen Z. He mentioned that these young people love to travel, and they’re on the hunt for a go-to credit card that offers them rewards and spectacular travel benefits and perks.
As of today, Scapia has raised $32 million in total capital, demonstrating substantial financial support and investor interest.
Matrix Partners India led a seed round that raised $9 million for Scapia. Some other important players, like Tanglin Venture Partners and Binny Bansal’s 3STATE Ventures, plus some big-name solo investors, such as Keki Mistry from HDFC Ltd., pitched in as well.
And again, they got $23 million in their Series-A cash collection. Elevation Capital and 3STATE Ventures led the charge, and some individuals that already threw money in before, Matrix Partners India and Tanglin Venture Partners, added more. Now, with this extra cash, Scapia’s going to get more people to use their services, team up with additional banks, and make their products even better, so traveling can be a smooth and spectacular thing for people.
Scapia, which has been on the downswing for about a year, is going to spend this cash to build the company bigger and improve its technology.
Since Scapia and Federal Bank launched their co-branded credit cards, the number of people signing up for them has grown significantly.
Scapia Credit Card
The Federal Bank Scapia Co-branded Credit Card is a joint venture between Federal Bank and Scapia Technology Pvt. Ltd. If you want to travel and want to turn your ordinary spending into unforgettable experiences, Scapia is the app for you. With the Scapia app’s digital onboarding procedure, you may have the card in a matter of minutes. Your real card will arrive in 2–5 days; however, you may activate the virtual one right away.
When you use this credit card, you won’t have to pay any extra fees to take use of the outstanding comforts offered by airport lounges. On the other hand, this is only one of the numerous features and advantages that the Scapia credit card extends to its customer. Therefore, if you are someone who enjoys traveling and is seeking for a credit card that will make your travel experience more enjoyable, continue reading to learn exactly why the Scapia card can be the ideal choice for you.
Scapia Credit Card Features & Benefits
The Scapia credit card provides its customers with a variety of different perks that make traveling significantly more enjoyable. The cardholders will be able to have a trip that is both smooth and rewarding, regardless of whether they are traveling inside India or traveling to the rest of the globe, thanks to these fascinating features.
- Unlimited Domestic Airport Lounge Access: One of the standout features of the Scapia credit card is that you can spend time in premium lounges at many airports in India as much as you want, and it won’t cost you extra. All you must do is spend at least Rs 5,000 on your card each month, and you can kick back in style before your flights.
- Earn Scapia Coins on Every Spend: With the Scapia credit card, you earn 10% Scapia coins on every eligible online and offline spend you make. What’s more, you enjoy a higher reward rate of 20% on travel bookings made through the Scapia app.
You can swap these points for flights and hotel stays right through the app, making things extremely easy and giving you the freedom to choose when and how to use them.
- Zero Forex Markup on International Transactions: When it comes to international transactions, the Scapia credit card provides added convenience and savings with its zero forex markup feature. This means that you won’t have to worry about any additional charges or fees when using your card for purchases in foreign currency. Enjoy shopping without any trouble and at a low cost, no matter where your vacations take you.
- Instant In-App Repayment and Wide Travel Options: The Scapia credit card offers the convenience of instant in-app repayment, making it easy for you to manage and stay on top of your payments. Additionally, the Scapia app provides access to global airlines and over 5 lakh stays, a vast variety of travel alternatives to pick from throughout the globe. As you have access to such a wide variety of options, it is simple for you to organize the vacation of your dreams.
Scapia Credit Card Fees
Image Source: Canva-Michael Jung /Getty Images & Andrey Krobostov
With no yearly fee and no starting fee, the Scapia credit card is a cheap option for users. Due to this, it makes it an informed pick for people who don’t want to pay extra to have a credit card. The Scapia credit card also lets you make overseas purchases with no foreign exchange markup. You can shop in different countries without worrying about extra currency conversion fees. The Scapia credit card is different from many others on the market because it doesn’t charge any foreign exchange fees, which is amazing for people who travel often or buy things from abroad regularly.
The Scapia credit card has a lot of perks that don’t cost anything, but users should know that there are some purchases that do cost money. Some of these fees are for taking out cash, replacing a lost card, and paying late. It’s a good idea to keep these fees in mind to make the best decisions with your money and manage your credit card well.
| Transaction | Fees |
|---|---|
Cash Withdrawal | Rs. 250 per transaction |
Card Replacement | Rs. 200 per request |
Late Payment | Rs. 500 or 5% of the minimum amount due, whichever is higher |
Cardholders may ensure that they properly manage their money and prevent any needless spending by becoming aware of the fees and charges that are related to the Scapia credit card. It is always advised that you study the terms and conditions of the credit card and get familiarized with the cost structure in order to get the most out of your experience with the Scapia credit card.
Scapia Credit Card Eligibility Requirements
Image Source: Canva-Rilueda /Getty Images
| Eligibility Criteria | Salaried | Self-employed |
|---|---|---|
Age Group | 23-60 years | 23-60 years |
Minimum Income | Rs. 18,000 per month | Rs. 4 lakh per annum |
Credit Score | 720+ | 720+ |
New Customer of Federal Bank | Required | Required |
To be eligible for the Scapia credit card, applicants must meet certain requirements:
- Age: Applicants must be between 23 and 60 years old.
- Employment Type: Both salaried and self-employed individuals can apply.
- Minimum Income: Salaried individuals should have a minimum income of Rs. 18,000 per month, while self-employed individuals should have an annual income of at least Rs. 4 lakh.
- Credit Score: A minimum credit score of 720+ is required.
- Customer Status: Applicants must be new customers of Federal Bank.
Applying for the Scapia credit card is a seamless process that can be done from the comfort of your own home. Take the first step towards unlocking a world of travel benefits and apply for the Scapia credit card today!
During the application process, applicants will need to submit various documents to verify their eligibility:
Proof of Identity: Accepted documents for proof of identity include a PAN card, an Aadhaar card, a driver’s license, a passport, and other government-approved photo ID proofs.
Proof of Address: Accepted documents for proof of address include: Aadhaar card, utility bills, property registration documents, and other government-approved address proofs.
Proof of Income: Accepted documents for proof of income include: salary slips,Form 16, and bank statements.
Scapia Credit Card Application Process
Applying for the Scapia credit card is a simple and straightforward process. Interested individuals can apply online through the Federal Bank website or mobile app.
For the form, you’ll need to share items such as your name, how much money you make, and where you work. Additionally, you must hand over some documents that show it’s really you, your home address; and confirm the amount of money you earn.
To apply for the Scapia credit card, follow these steps:
- Visit the Federal Bank website or download the mobile app.
- Click on the ‘Apply Now’ button for the Scapia credit card.
- Put in your data on the online form, such as your full name, phone number, birthday, and where you live normally.
- Also put in job details, like where you work, what you do there, and the salary you get every month.
- Upload the necessary supporting documents, including a scanned copy of your PAN card, Aadhaar card, passport-size photograph, proof of address, and proof of income.
- Review the application form and verify that all the information provided is accurate.
- Send in the application form that has been filled out.
- Wait for the bank to review your application.
- If the bank says yes to your card, they’ll let you know what to do next to start using it.
- Following the approval of your application, you will be provided with further information about the process of activating your card of choice.
Accepted documents for proof of identity include a PAN card, an Aadhaar card, a driver’s license, a passport, and other government-approved photo ID proofs. Proof of address can be provided through an Aadhaar card, utility bills, property registration documents, and other government-approved address proofs. Proof of income can be demonstrated through salary slips, Form 16, and bank statements.
Scapia Credit Card Ratings
The Scapia credit card gets an average of 4.3 stars out of 5 from people who use it. Most customers seem pretty happy with what the card offers. It stands out because it doesn’t add extra fees for buying things in other countries, which you don’t find with every credit card, and cardholders enjoy this unique benefit. You usually see those extra fees on other credit cards, but not on this one, which is something people who travel a lot greatly appreciate since it eliminates the need to pay additional costs.
Another aspect of the Scapia credit card that receives praise is its base reward rate of 2% to 4%. Cardholders find this reward rate to be pretty decent, and they think that’s a pretty good deal; this encourages people to use the card for their regular shopping and enjoy gathering up points or cashback over time.
However, a portion of the card users wish the rewards for travel-related spending were better, specifically for travel expenses. While the Scapia credit card offers a reward rate of 4% for travel bookings made through the Scapia app, some users feel that this rate could be more competitive compared to other options available in the market. This feedback highlights the importance of considering individual preferences and travel patterns when choosing a credit card.
The Scapia credit card is good for people who travel a lot or travel sometimes. The positivity of its ratings is a reflection of the value it offers to cardholders as well as the appealing features it has.
Scapia Credit Card Criticism
Recently, Scapia has been catching heat from people online; the company dropped customers’ credit limits by a whopping 70–80%; they said it was because those users weren’t really using their cards much.
There might be like 150–200 people who got hit by this, and it’s only for the ones who didn’t even use their cards or spent less than 10% of what they could.
Scapia’s has not responded to anything yet. The Federal Bank has opened up, saying cutting limits is them checking up on things as usual; they’ve laid down the law on some accounts as guided by their own rules for how their credit cards are used.
As per Moneycontrol sources, they told those who got their limits chopped down by sending them an email or text, which is pretty standard practice; they added that these cutbacks can change at any time—it could go back up or further down—which is pretty normal. And the bank mentioned they’re focused on working closely with their partners and making sure their customers are getting good service. Finally, a group of users got upset online, especially on X (Twitter), beefing about how their limits got slashed without enough heads up.
Conclusion
For those who like traveling, the Scapia credit card—which is provided in collaboration with Federal Bank—is an excellent option. This card makes sure that traveling is easy and enjoyable with all of its features and perks. Cardholders can enjoy unlimited access to domestic airport lounges, earn Scapia coins on their spends, and redeem them instantly for flights and hotels through the Scapia app. The card also eliminates the hassle of forex markup on international transactions and comes with no joining or annual fees.
Even though you must meet certain conditions to get this card and average reward rates, it’s still a really sweet deal for frequent travelers seeking valuable perks without any additional charges. With the Scapia credit card, you may enjoy the ease and advantages of foreign transactions, collect points on ordinary purchases, and relax in airport lounges—all of which can improve your travel experience.
With its user-friendly app, which is extremely easy to use, you’re in charge of what goes on with your purchases. Apply for the Scapia credit card today and begin your adventure to travel with ease and get to be in control of your money.”
Disclaimer: This article about finance and investments contains material solely for educational purposes. It does not constitute investment advice. While we try to be accurate, we cannot guarantee that the information is appropriate or full. It is recommended that readers get advice from a licensed financial expert prior to making any investing decisions.
Videos for Scapia Credit Card-English
Scapia was founded by Anil Goteti, who had a love for travel and a knowledge of the requirements of the younger generation. Check out the video in which Vikram reveals Anil’s strategy for establishing Scapia as well as his future ambitions. With fewer than 5% of the population now owning credit cards and India expected to have 200 million credit cards in circulation by 2030, there are several prospects.
Video for Scapia Credit Card-Hindi
Check out the video for Scapia credit card launched by Scapia in collaboration with Federal Bank.
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