Canara Bank Platinum Card: A Smart Pick for Beginners

Bio

Shreyansh Singh, an IIT Kanpur alumnus, has eight years of experience in the finance industry. He has spent 5 years at American Express developing mid to long-term strategies for multiple markets including US, Europe and India. Shreyansh currently leads Growth and Strategy initiatives at Pice.

12 Jun 26
4 mins

Shreyansh Singh

08 Mins
12-06-26

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Table of Contents

Canara Bank Platinum Card Benefits
Canara Bank Platinum Card Charges

Earn 2 reward points per ₹100 on all spends.
Credit limit ranges between ₹50,000 and ₹50,00,000 monthly.
Domestic lounge access allows 2 visits per quarter.
Mastercard network allows 2 visits and 1 guest entry quarterly.
Fraud protection cover available up to ₹5 lakh value.

The Canara Bank Platinum Card is a lifetime-free credit card suitable for beginners. Cardholders earn 2 reward points for every ₹100 spent on both online and offline purchases.

Although it does not focus on category-based rewards, it offers simple benefits and easy usage. This card is ideal for individuals seeking a no-annual-fee credit card for everyday spending.

It is available across RuPay, Visa and Mastercard networks, offering flexibility and wide acceptance.

Canara Bank Platinum Card Benefits

The Canara Bank Platinum Card has flexible payment options. Cardholders can make purchases at merchant PoS terminals and across online platforms. The card is also accepted both domestically and internationally.

If you are wondering what are the key features and benefits of the Canara Bank Platinum Card, let us take a closer look at them:

Domestic Lounge Access: The Canara Bank Platinum Card lounge access benefit allows 2 visits per quarter, with a maximum of 4 per year for RuPay and Visa variants.
Interest-Free Credit: The card provides up to 50 days of interest-free credit, which helps users manage expenses before the billing cycle ends.
Forex Usage: For international purchases, a 3% forex markup fee applies to foreign currency transactions.
EMI Conversion Facility: Large purchases can be converted into EMIs through the Canara ai1 app. Interest starts from 13% p.a. for tenures below one year and 14% p.a. for longer tenures.
Insurance and Protection Cover: The card includes ₹5 lakh fraudulent charge cover, baggage insurance up to ₹25,000 and purchase protection cover up to ₹25,000.

It also provides air accident cover of ₹8 lakh for the cardholder and ₹4 lakh for the spouse, along with ₹4 lakh accident cover for the cardholder and ₹2 lakh for the spouse for other accidents.

Canara Bank Platinum Card Charges

Understanding the applicable fees helps you manage your credit card better. The charges listed below exclude GST and additional taxes or service costs may apply.

Here is a quick overview of the main charges applicable to the Canara Bank Platinum Card:

Parameters	Charges
Cash Withdrawal Fee	₹30 on every ₹1,000 withdrawn
Card Replacement Charges	₹300
Cheque Dishonour Charges	₹50
Card Inactivity Fee	₹200
Late Payment Fine	₹250+GST

💡Do not let late payment charges add up by missing a due date. Use the Pice App to pay your credit card bills on time. Set reminders, track payments and complete bill payments in just a few simple steps.

Footnotes

For queries or assistance related to your card, contact Canara Bank Customer Care at the 24×7 toll-free number 1800 1030.
Each reward point is valued at ₹0.25. Cardholders must activate their reward account by registering on the rewards portal and creating login credentials.
Card inactivity fee is only applicable if the annual card spending remains below ₹50,000 during the card year.
Mastercard users receive 2 self airport lounge visits and 1 guest visit per quarter.
The processing charge of the EMI facility is 2% of the transaction value, with a minimum of ₹100 and a maximum of ₹200.

FAQs

What credit limit can I get on the Canara Bank Platinum Card?

The credit limit usually ranges from ₹50,000 to ₹50,00,000 per month. This depends on the applicant's income, credit profile and bank assessment. The final limit is communicated once the card is approved.

What is the cash withdrawal limit on the Canara Bank Platinum Credit Card?

Cardholders can withdraw cash up to 50% of the approved credit limit or ₹50,000, whichever is lower. This limit applies to RuPay, Visa and Mastercard variants of the card.

What is the eligibility for the Platinum Canara Bank Credit Card?

Applicants must have an independent annual income of at least ₹3 lakh. The bank may also review the applicant’s credit history and financial profile before approving the card.

Is there a fuel surcharge waiver on the Canara Platinum Card?

A 1% fuel surcharge applies on petrol transactions, with a minimum fee of ₹10+taxes. However, up to ₹100 per billing cycle may be reimbursed in the next statement if monthly purchase transactions exceed ₹2,500 and each fuel transaction is ₹400 or more.

What finance charges apply to the revolving amount?

If the cardholder pays only the minimum amount due, the remaining balance is carried forward to the next billing cycle. The unpaid amount attracts finance charges of 2.5% per month (30% annually) until the outstanding balance is fully repaid.