Recently, Uni card has informed their customers about their new product uni nx wave credit card in partnership with Yes bank.
Earlier Uni and Slice were issuing prepaid cards linked with a credit line in partnership with SBM bank India. But RBI norms disallowed to offer of prepaid cards linking credit lines (loans).
Now Uni card has introduced a new co-branded credit card like one card. And this card is known as Uni NX Wave credit card. Uni has partnered with Yes bank of India to launch their first co-branded credit card Uni NX Wave credit card.
In this article, I will share Yes bank Uni nx wave credit card reviews, benefits, rewards and my experience with this Uni nx wave card. You can read this blog post completely to know about nx wave uni credit card.
Highlights
About Uni NX Wave Credit Card
Earlier, Uni card was working on a prepaid card linked with a credit line model. Actually, Uni was creating a loan account in the customer’s name and linked it to Uni card. But after RBI’s new norms prepaid card & credit line linking are not allowed. These RBI norms affected the business model of Uni, Slice and more startups.
Now Uni launched a full fledge co-branded credit card in partnership with SBM bank. It is a co-branded credit card like OneCard. Your existing Uni card will stop working on 30 November 2022 and you can join the waitlist to get a Uni NX Wave credit card.
Also Read: One Card Review (Unlimited 5X Rewards) – Metal Credit Card
NX Wave Credit Card Design
Uni nx wave credit card is available in 6 colours, You can choose the colour of your choice.
Fees & Charges
| Joining fee | Nil |
| Annual fee | Nil |
| Foreign currency markup fee | Zero |
| Interest rate | NA |
| Rewards redemption fee | Zero |
| Add on card fee | No added card |
Rewards
Reward rate: You will earn flat 1% cashback on your all online & offline spending except fuel, rent & wallet loads. This cashback will be adjusted from your next month’s credit card bill. You will earn 5X rewards on your orders from Unistore.
Reward redemption: The cashback amount will be auto-adjusted from your next credit card bill. There are no fees to redeem uni card rewards.
Also Read: SBI Cashback credit card Reviews (5% cashback)
How To Apply for Uni NX Wave Credit Card
Currently, this option is available only to existing Uni card holders, You can see a Uni nx wave card waitlist on your Uni mobile app, click and join the waitlist to get a Uni nx wave credit card. The window will be open to all users very soon.
Eligibility
- Existing Uni card users are pre-approved
- Age: 18 to 60
- Income: 15K/ month (salaried & self-employed)
- Self-employed need a good credit score
Pros
- No Joining fee
- No annual fee
- Zero foreign currency markup fee
- Cashback adjusted from the bill
- Beautiful design
Cons
- Only 1% reward on online & offline spendings
- 5X reward only at Uni store
- No add on card
- No rewards on forex transaction
- No reward on Wallet, Fuel & Rent
What will happen to my Uni card after November 2022
Your Uni card will be blocked and stop working on 30 November 2022. You can join the waitlist to get a Uni Nx wave credit card. You can see a banner on Uni mobile app.
How To get a Uni Nx wave credit card?
Currently, Uni nx wave credit card apply window is open to existing Uni card holders, Very soon other users also can apply for nx wave uni credit card.
Is Uni card a credit card?
No, Uni card is not a credit card, it’s a prepaid card linked to a loan, Uni creates a loan account on customer’s behalf and link to your Uni card. But Uni will launch Nx wave credit card in DEcember 2022. Uni nx wave credit card is a full fledge co-branded credit card in partnership with SBM bank.
Is Uni card safe?
Yes, definitely Uni card is safe because Rbi has approved them to work in India. Uni card is a prepaid card linked to a loan account, Uni creates a consumer loan on your behalf. Uni may create 2-3 loan accounts in your name to provide a Uni card. Multiple small consumer loan accounts will be reported to the credit bureaus, So it may be harmful to your credit score.
Should I go for Uni nx wave credit card?
Uni nx wave credit card reward rate is very low (1% only). Although they offer 5X rewards on Uni store orders. Nx wave Uni credit card has no joining fees and no annual fees. UNi nx card has zero foreign markup fees. If you are a beginner and don’t have a good cashback credit card or need a good credit card for foreign transactions then you should go for this Uni nx wave card.
Also Read: PostPe Flex Card Review (Unlimited Cashback)
Conclusion
This Uni nx wave credit card is offering flat 1% cashback on your spending and this card has no joining fees, no annual fees. Also has zero foreign currency markup fees. If you are a beginner and don’t have a good credit card then you can go for this Nx wave Uni credit card. If you want more cashback on your spending then go for SBI Simply Save, Amazon Pay ICICI card, Flipkart Axis bank card, SBI cashback card, HDFC millennia card etc which offers huge cashback on your online & offline spending.
In this blog, I have tried my best to share Uni nx wave credit card reviews, benefits, rewards etc. I hope this was helpful for you to know about Nx wave uni card. Please share this article with friends & friends.
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Nx wave uni card will be best choce for international transaction as this card has zero markup fees