What is the Dhani One Freedom Card?
Dhani One Freedom Card is a unique credit card offered by Dhani, a digital financial services provider in India. The card is designed to provide maximum flexibility and convenience to the users. In this article, we will discuss the features, benefits, and eligibility criteria for the Dhani One Freedom Card.
Features of Dhani One Freedom Card:
- Digital Card: The Dhani One Freedom Card is a digital credit card that is issued instantly upon approval. The card can be accessed through the Dhani app, and there is no physical card required.
- No Annual Fee: The card does not have any annual fees, making it a cost-effective option for users.
- High Credit Limit: The card offers a high credit limit of up to Rs. 5 lakhs, depending on the user’s creditworthiness.
- Interest-Free Period: The card offers an interest-free period of up to 45 days, which means that users can make purchases without paying any interest on the outstanding amount.
- Cash Withdrawal: Users can withdraw cash using the Dhani One Freedom Card from any ATM in India. The cash withdrawal fee is 2.5% of the amount withdrawn.
- Rewards Program: The card offers a rewards program, where users can earn 2 Dhani Points for every Rs. 150 spent using the card. The Dhani Points can be redeemed for various benefits, such as cashback, gift vouchers, and other rewards.
You can apply for the Dhani One Freedom Card online through the Dhani app. Here are the steps to follow:
- Download the Dhani app from the Google Play Store or the App Store.
- Register for an account using your mobile number and verify it with an OTP.
- Click on the ‘Dhani One Freedom Card’ option on the app’s home screen.
- Click on the ‘Apply Now’ button.
- Fill in the required details, such as your name, date of birth, and address.
- Upload the required KYC documents, such as an Aadhaar card, PAN card, and address proof.
- Click on the ‘Submit’ button.
- Wait for the application to be processed. You will receive an SMS and email once your application is approved.
- Once approved, you can activate your Dhani One Freedom Card and start using it.
Note that the eligibility for the Dhani One Freedom Card depends on your credit score, and the company does not disclose the credit score requirement. Therefore, it is advisable to maintain a good credit score before applying for a card to increase your chances of approval.
Pros and cons of Dhani One Freedom Card:
Pros:
| Pros | Description |
| Instant Approval | The card is issued instantly upon approval, and users can start using it immediately. |
| No Annual Fees | The card does not have any annual fees, making it a cost-effective option for users. |
| High Credit Limit | The card offers a high credit limit of up to Rs. 5 lakhs, depending on the user’s creditworthiness. |
| Interest-Free Period | The card offers an interest-free period of up to 45 days, which means that users can make purchases without paying any interest on the outstanding amount. |
| Cash Withdrawal | Users can withdraw cash using the Dhani One Freedom Card from any ATM in India. |
| Rewards Program | The card offers a rewards program, where users can earn Dhani Points for every purchase made using the card. The points can be redeemed for various benefits, such as cashback, gift vouchers, and other rewards. |
Cons:
| Cons | Description |
| Digital-Only | The Dhani One Freedom Card is a digital credit card, and users cannot use a physical card. |
| Limited Eligibility | The card is only available to users with a good credit score and who have submitted the required KYC documents. |
| Cash Withdrawal Fee | Users need to pay a cash withdrawal fee of 2.5% of the amount withdrawn when using the card for cash withdrawals. |
| No Co-Branding | The card does not offer any co-branding benefits or partnerships, which some users may find limiting. |
| Limited Acceptance | Some merchants may not accept digital credit cards, which could be a challenge for users in some situations. |
Overall, the Dhani One Freedom Card offers a range of benefits, including high credit limits, no annual fees, and a rewards program. However, it is important to consider the limitations, such as the digital-only nature of the card and limited eligibility, before applying for it.
Benefits of Dhani One Freedom Card
FAQs
Is Dhani’s one freedom card useful?
The usefulness of the Dhani One Freedom Card will depend on the individual’s financial needs and usage patterns. Here are some factors to consider:
- Credit Limit: If you require a high credit limit, the Dhani One Freedom Card could be useful, as it offers a credit limit of up to Rs. 5 lakhs, depending on your creditworthiness.
- Rewards Program: If you want to earn rewards for your credit card spending, the Dhani One Freedom Card’s rewards program could be useful. You can earn Dhani Points for every purchase made using the card and redeem them for cash back, gift vouchers, and other rewards.
- No Annual Fees: If you are looking for a credit card that does not charge any annual fees, the Dhani One Freedom Card could be useful, as it does not have any annual fees.
- Interest-Free Period: If you want an interest-free period for your credit card purchases, the Dhani One Freedom Card offers an interest-free period of up to 45 days, which could be useful.
- Digital-Only: However, if you prefer a physical credit card or need a card for international travel, the digital-only nature of the Dhani One Freedom Card may not be useful.
- Limited Acceptance: If you frequently use your credit card at merchants that do not accept digital credit cards, the limited acceptance of the Dhani One Freedom Card could be a disadvantage.
Overall, the usefulness of the Dhani One Freedom Card will depend on your individual financial needs and usage patterns. It is important to consider the card’s features and limitations before applying for it to ensure that it meets your requirements.
Q: Can I withdraw money from Dhani one freedom card?
A: Yes, you can withdraw cash from the Dhani One Freedom Card. The card can be used to withdraw cash from any ATM in India that accepts MasterCard. However, please note that a cash withdrawal fee of 2.5% of the amount withdrawn (subject to a minimum of Rs. 500) will be applicable.
It is important to note that cash withdrawals using a credit card can be expensive, as the interest rate on cash withdrawals is generally higher than the interest rate on credit card purchases. Therefore, it is advisable to use cash withdrawals only when necessary and to repay the amount withdrawn as soon as possible to avoid accumulating high-interest charges.
Q: What is the limit of Dhani’s one freedom card?
A: The credit limit of the Dhani One Freedom Card depends on the creditworthiness of the applicant. The card offers a credit limit of up to Rs. 5 lakhs, which is one of the highest credit limits offered by digital credit cards in India. However, the actual credit limit that you are approved for will depend on various factors such as your income, credit score, credit history, and other financial factors.
It is important to use the credit limit responsibly and to repay the outstanding balance on time to avoid accumulating high-interest charges and negatively impacting your credit score. If you manage the card well by making timely repayments, you may be eligible for a credit limit increase in the future.
Q: Is there any monthly charges for Dhani’s one freedom card?
A: No, there are no monthly charges or annual fees associated with the Dhani One Freedom Card. The card is completely free to use, and you will not be charged any fees or penalties as long as you use the card responsibly and make timely repayments.
In addition to no monthly or annual fees, the Dhani One Freedom Card also offers an interest-free period of up to 45 days, which means that you can make purchases using the card without incurring any interest charges on the outstanding balance, as long as you pay the full amount due before the due date.
However, it is important to note that other fees, such as cash withdrawal fees, late payment fees, and over-limit fees may be applicable. Therefore, it is advisable to read the terms and conditions of the card carefully before using it to understand the fees associated with the card.
Q: Can I use the Dhani One Freedom Card for international transactions?
A: No, the Dhani One Freedom Card is currently only available for use in India, and it cannot be used for international transactions.
Q: Is there any annual fee or monthly charges associated with the Dhani One Freedom Card?
A: No, there are no annual fees or monthly charges associated with the Dhani One Freedom Card. However, other fees, such as cash withdrawal fees, late payment fees, and over-limit fees may be applicable.
Q: How can I apply for the Dhani One Freedom Card?
A: You can apply for the Dhani One Freedom Card by downloading the Dhani App and completing the online application process. The application process is simple and can be completed in a few minutes.
Q: Can I withdraw cash using the Dhani One Freedom Card?
A: Yes, you can withdraw cash from any ATM in India that accepts Mastercard using the Dhani One Freedom Card. However, a cash withdrawal fee of 2.5% of the amount withdrawn (subject to a minimum of Rs. 500) will be applicable.
Q: What is the credit limit of the Dhani One Freedom Card?
A: The credit limit of the Dhani One Freedom Card depends on the creditworthiness of the applicant and can go up to Rs. 5 lakhs.
Conclusion
The Dhani One Freedom Card is a digital credit card that offers a high credit limit of up to Rs. 5 lakhs, a rewards program, an interest-free period of up to 45 days, and no annual fees. The card can be used to make purchases at any merchant that accepts Mastercard, and it can also be used to withdraw cash from any ATM in India that accepts Mastercard.
While the card does have its advantages, it is important to use it responsibly and to make timely repayments to avoid accumulating high-interest charges and negatively impacting your credit score. Overall, if you are looking for a digital credit card with a high credit limit and rewards program, the Dhani One Freedom Card is worth considering.
Faizan Ahmad is a financial analyst and writer who specializes in investments, banking, and corporate finance. He has over 7 years of experience working in the finance industry in various roles.
He leverages his strong financial modeling and data analysis skills to provide insightful commentary on business, markets, and economic trends.
At Ventures Money, Faizan covers topics including Credit Card Reviews, Loans, Insurance, and Mutual Funds in the banking sector. He provides in-depth analysis of the latest news and trends to help readers make smart investment decisions.
Outside of writing, Faizan enjoys following the stock market, rooting for his favorite sports teams, and spending time with his family.