Equitas Selfe Credit Card

Overview

The Equitas Selfe Credit Card is Equitas Small Finance Bank's take on a customizable rewards card. Instead of forcing a fixed set of bonus categories on you, it lets you pick the two categories where you spend the most and earn 5 times the base reward rate there. Add two free OTT subscriptions, quarterly lounge access and a modest ₹1,000 annual fee, and it lands as a sensible everyday card for people who want rewards shaped around their own habits rather than the bank's.

You can apply on either the Visa or RuPay network, and you get to choose the physical card too: a standard Blue plastic card, a recycled-plastic Green card for a small premium, or a Metal card if you want the heft.

Rewards and earning

The heart of this card is the "pick your own" structure. You select any 2 categories from Apparel, Dining, Grocery, Utility and Taxi. On those two, you earn 10 reward points for every ₹100 spent, which is 5X the base rate. Everything else earns 2 reward points per ₹100.

Point value depends on how you redeem and on your loyalty tier. On the entry Blue tier, a point is worth ₹0.35 towards vouchers or travel, and only ₹0.15 if you take it as cashback. So on your chosen categories, voucher redemption works out to roughly ₹3.5 back per ₹100, or about 3.5% value. As you move up to the Diamond tier, points get more valuable (₹1.00 on vouchers/travel and ₹0.50 on cashback), which lifts the effective rate considerably.

A couple of things to keep in mind. The Grocery category caps accelerated earning at 2,000 points a month, so very heavy grocery spenders will hit a ceiling. And because your 5X categories are chosen in advance, any spending outside them only earns the 2 points base rate. Points are managed and redeemed through the Equitas Xchange portal.

Fees

The joining fee and the annual (renewal) fee are both ₹1,000 + GST. Right now there is a limited-period offer that makes the first year free. From the second year, you can get the renewal fee waived by spending ₹2,40,000 in the anniversary year, which is around ₹20,000 a month.

The card material adds to the cost if you go beyond the standard Blue card: the Green recycled-plastic variant costs an extra ₹250 + GST, and the Metal variant an extra ₹3,500 + GST. On fuel, you get a 1% surcharge waiver on transactions between ₹500 and ₹3,000, capped at ₹250 per statement cycle.

Eligibility

Equitas does not publish hard cut-offs, but based on how the card is positioned, applicants are typically aged 21 to 60, with an annual income roughly in the ₹5 lakh to ₹18 lakh range and a credit score around 700 or higher. Treat the income and score figures as indicative rather than official, and confirm with the bank before you apply.

Who it is for

This card suits everyday spenders who have two clear big categories, say Dining and Utility, or Grocery and Taxi, and want those rewarded harder without juggling multiple cards. The two free OTT memberships and the no-condition quarterly lounge visit add real value for the fee, especially in the first year when the fee is waived.

It is a weaker fit if your spending is spread evenly across many categories, since only two get the boost, or if you plan to redeem mostly as cashback, where the Blue-tier point value is low. High grocery spenders should also note the monthly cap on that category.

Verdict

The Equitas Selfe Credit Card is a genuinely flexible, low-cost rewards card. The customizable 5X categories, free OTT subscriptions and unconditional lounge access make it easy to recommend for the first year, when the fee is free. The main caveats are the high ₹2,40,000 spend needed to waive the renewal fee and the modest point value on the entry tier. Match your two biggest spend categories to the 5X slots, redeem for vouchers rather than cashback, and this card earns its keep.