AU Vetta Credit Card

Joining fee: Rs. 2,999

Renewal fee: Rs. 2,999

Rewards: Get 4 Rewards Points on Spend Rs. 100 on Retail*

Welcome Benefits: N/A

The AU Bank Vetta Credit Card is offered to users seeking exceptional privileges and rewarding experiences. Designed for modern lifestyles, this card seamlessly manages finances while unlocking a world of benefits.

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Features of AU Vetta Credit Card:

Competitive Interest Rates: The Vetta Credit Card offers competitive interest rates on purchases, balance transfers, and cash advances, making it an attractive option for consumers looking to manage their credit card expenses effectively.

Rewards Program: Cardholders can earn reward points on every eligible purchase they make using the Vetta Credit Card. These reward points can be redeemed for a variety of rewards, such as cashback, gift cards, travel, or merchandise.

Complimentary Insurance Coverage: The Vetta Credit Card provides complimentary insurance coverage, including purchase protection, extended warranty, and travel insurance, providing peace of mind for cardholders.

Contactless Payment Technology: The card is equipped with contactless payment technology, allowing for quick and secure transactions at compatible terminals, enhancing convenience for cardholders.

Digital Banking Services: Cardholders can access their account information, view statements, and manage their credit card through AU Bank’s user-friendly digital banking platform, available via mobile app and online banking.

Benefits of AU Vetta Credit Card:

Earning Potential: By using the Vetta Credit Card for everyday purchases, cardholders can accumulate reward points at a competitive rate, allowing them to enjoy various rewards and benefits.

Flexible Repayment Options: AU Bank offers flexible repayment options, enabling cardholders to manage their credit card payments according to their financial situation and preferences.

Worldwide Acceptance: As a widely accepted credit card, the Vetta Credit Card can be used for purchases and transactions globally, providing convenience for frequent travelers and online shoppers.

Financial Management Tools: The digital banking services associated with the Vetta Credit Card provide cardholders with financial management tools, such as spending analysis, budget tracking, and account alerts, helping them stay on top of their credit card usage and expenses.

Customer Support: AU Bank offers reliable customer support services, ensuring that cardholders can receive assistance and resolve any issues or queries related to their Vetta Credit Card promptly.

Building Credit History: Responsible use of the Vetta Credit Card can help cardholders build and improve their credit history, which can be beneficial for future financial endeavors, such as applying for loans or mortgages.

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Fees and Charges of AU Vetta Credit Card

Fees:

Annual Fee: The AU Vetta Credit Card comes with an annual fee of Rs. 2,500. This fee is typically charged at the time of issuance and subsequently on an annual basis.

Add-on Card Fee: If you wish to have additional cards for your family members or supplementary cardholders, AU Bank charges a fee of Rs. 1,000 per add-on card.

Late Payment Fee: In case you miss or delay your monthly credit card payment, AU Bank will levy a late payment fee of Rs. 750 or 3% of the outstanding amount, whichever is higher.

Over-limit Fee: If you exceed your credit limit, the bank will charge an over-limit fee of Rs. 500.

Cash Advance Fee: For cash withdrawals from ATMs or over-the-counter, AU Bank charges a cash advance fee of 3% of the transaction amount, subject to a minimum of Rs. 300.

Foreign Currency Markup: For transactions made in foreign currencies, AU Bank levies a markup fee of 3.5% on the transaction amount after converting it to Indian Rupees.

Charges:

Interest Charges: If you carry a balance forward from the previous billing cycle, AU Bank will charge interest on the outstanding amount at a rate of 3.49% per month (41.88% annualized).

Fuel Surcharge: For transactions at petrol pumps, the bank levies a fuel surcharge of 1% of the transaction amount.

Railway Ticket Booking Charges: When booking railway tickets through the AU Bank Vetta Credit Card, a convenience fee of 1.8% of the transaction amount will be charged.

Eligibility for applying AU Vetta Credit Card

Age Criteria: To be eligible for the AU Vetta Credit Card, you must be at least 21 years of age. This age requirement is in line with most credit card issuers, as it ensures that applicants have attained legal adulthood and can enter into a binding contract.

Income Requirement: AU Bank has set a minimum monthly income threshold of NPR 25,000 for salaried individuals and NPR 40,000 for self-employed applicants. This income requirement helps the bank assess the applicant’s repayment capability and creditworthiness.

Employment Status: The Vetta Credit Card is available to both salaried and self-employed individuals. For salaried applicants, they must have been employed with their current organization for at least six months. Self-employed individuals should have been running their business for at least one year.

Credit History: AU Bank will evaluate the applicant’s credit report obtained from the licensed credit bureau. A good credit score and a clean credit history with no defaults or late payments will increase the chances of approval.

Residency Status: Applicants must be Nepali citizens or hold a valid work permit or residential permit in Nepal. This is to ensure that the applicant has a stable residency status and can be reached for communication and payment purposes.

Documentation: Applicants will need to provide necessary documents such as identity proof, income proof (salary slips or bank statements), employment proof, and any other documents as requested by the bank during the application process.

Existing AU Bank Relationship: While not mandatory, existing AU Bank customers or those with a prior banking relationship may have a slightly higher chance of approval, as the bank already has some financial history and understanding of the applicant’s banking behavior.

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Documents Required for AU Vetta Credit Card

Identity Proof: A copy of your passport or Aadhaar card is mandatory. The bank needs this to verify your identity and establish your residential address.

Address Proof: In addition to the identity proof, you’ll need to submit a separate document as proof of your current residential address. This could be a recent utility bill (electricity, gas, or landline), bank statement, or rent agreement.

Income Proof: The bank will require proof of your income to assess your repayment capability. If you’re salaried, you can submit your latest salary slips (for the last 3 months) along with your Form 16. If you’re self-employed or a business owner, you’ll need to provide your Income Tax Returns (ITR) for the last 2 financial years.

Bank Statements: You may need to submit your bank statements for the last 6 months to provide a glimpse of your financial transactions and spending patterns.

Photographs: Don’t forget to attach your recent passport-size photographs when submitting the application form.

Employment Details: If you’re salaried, you’ll need to submit a copy of your appointment letter or employment contract. For self-employed individuals, a copy of your business registration or trade license might be required.

Other Documents: Depending on your specific circumstances, the bank may request additional documents such as your marriage certificate (if your name has changed after marriage), or a co-applicant’s documents if you’re applying jointly.

How to apply for AU Vetta Credit Card?

Visit your nearest AU Bank branch or log in to your AU Bank internet banking portal.
Look for the “Credit Cards” section and select “Apply for a New Credit Card.”
Choose the “AU Bank Vetta Credit Card” from the list of available credit card options.
Fill out the online application form with your personal details, employment information, and income details.
Attach the required documents, such as your identity proof, address proof, and income proof.
Review the information you’ve provided and ensure its accuracy.
Read and accept the terms and conditions associated with the AU Bank Vetta Credit Card.
Submit your application, and an AU Bank representative will get in touch with you for further processing.
If your application is approved, you’ll receive your brand-new AU Bank Vetta Credit Card within 7-10 business days.

AU Vetta Credit Card Limit

The AU Vetta Credit Card offers a credit limit range of Rs. 25,000 to Rs. 10,00,000, catering to diverse financial needs and spending habits.
The credit limit assigned to an individual is determined by a comprehensive evaluation of their creditworthiness, income, existing financial obligations, and credit history.
For salaried applicants, the credit limit is typically based on their monthly income, with a higher income generally qualifying for a higher credit limit.
Self-employed individuals and businesspersons may need to provide additional documentation, such as income tax returns and bank statements, to substantiate their income and secure a suitable credit limit.
Applicants with an excellent credit score and a proven track record of timely repayments are more likely to be approved for a higher credit limit, reflecting their responsible financial behavior.
Newly employed or those with limited credit history may initially receive a lower credit limit, which can be reviewed and potentially increased after demonstrating responsible usage and timely payments over a period.
AU Bank periodically reassesses credit limits based on the cardholder’s updated financial profile, spending patterns, and repayment behavior, allowing for potential credit limit increases or decreases as deemed appropriate.

Rewards & Cashback of AU Vetta Credit Card

Rewards:

- - Earn accelerated reward points on specific categories such as dining, travel, groceries, or fuel, depending on the card’s rewards program.
  - Bonus reward points for new cardholders after meeting a minimum spending requirement within the first few months.
  - Opportunities to earn additional reward points through special promotions or by shopping with partnered retailers.
  - Ability to redeem reward points for various options like cashback, travel bookings, merchandise, gift cards, or statement credits.
  - Higher reward earning rates for premium or co-branded versions of the Vetta Credit Card.

Cashback:

- - Earn a flat cashback percentage on all eligible purchases made with the Vetta Credit Card.
  - Higher cashback rates for specific spending categories like gas, groceries, or everyday essentials.
  - Quarterly or annual cashback bonuses for meeting certain spending thresholds.
  - Option to redeem cashback as a statement credit, direct deposit into a linked account, or as a check.
  - Introductory cashback offers for new cardholders who meet a minimum spending requirement within the first few months.
  - Potential to earn higher cashback rates by upgrading to a premium or co-branded version of the Vetta Credit Card.

How to Redeem Earned Rewards and Cashback Points?

Rewards:

- - AU Vetta Credit Card offers a wide range of rewards that can be redeemed through their online rewards portal or by calling their customer service.
  - Rewards points can be redeemed for merchandise, gift cards, travel bookings, and even cash credits to your card statement.
  - To redeem rewards, log in to your online account, navigate to the rewards section, and browse through the available options.
  - You can also set up automatic redemption preferences, such as redeeming points for statement credits every time you reach a certain threshold.
  - Keep an eye out for bonus redemption offers and special promotions, which can help you get more value from your rewards points.

Cashback:

- - The AU Vetta Credit Card offers cashback rewards on eligible purchases, typically ranging from 1% to 5% depending on the spending category.
  - Cashback is automatically credited to your account, typically on a monthly or quarterly basis, based on your card’s terms and conditions.
  - You can redeem your accumulated cashback for a statement credit, which will reduce your outstanding balance or future charges.
  - To redeem cashback, log in to your online account and navigate to the cashback redemption section, where you can initiate the request for a statement credit.
  - Alternatively, you can call the customer service hotline and request a cashback redemption over the phone.