RBL Bank Shoppers Stop Black
Downgrade₹10,000 for a department store, and the point is only worth ₹1 while you are standing in it.
a year at ₹40,000 a month, after the fee
Skip the arithmetic — the board, ranked → · nothing to sign up for
What it's worth to you, after the fee
Welcome: A ₹3,000 Shoppers Stop voucher plus a curated gift worth up to ₹3,000, a Shoppers Stop First Citizen Club Black membership worth ₹4,500 and a complimentary makeover — released only on a retail transaction inside 30 days AND payment of the annual fee
Priced on the everyday mix — 30% groceries · 10% utilities · 20% travel · 6% fuel · 34% everything else — with this card's published category rules applied: it earns nothing on utilities and travel and fuel here, so that spend is dropped, not paid at the headline, and stops pacing milestones and the waiver. Plus milestones, minus the fee. No accelerator credit — the ranking model on /compare adds ~20% of spend at the card's best accelerator, so its ₹ for this card reads higher.
How these numbers are computed — and why the rankings show a bigger one →
Spend tiers, milestones and fee waivers included, at our house ₹/point. Portal and category multipliers can push higher — run your exact number →
Pays for itself at ₹1,40,000 a month
At ₹1,40,000 a month — ₹16,80,000 a year — on the everyday mix this card returns ₹10,000 gross (earn ₹1,500 + bonuses ₹6,000 + milestones ₹2,500) against its ₹10,000 fee = ₹0 net — the first rung at or above ₹0. The ladder runs in ₹1,000 steps to ₹1,00,000 a month and ₹10,000 steps to ₹5,00,000; figures are rounded to the hundred, and the accelerator is never credited.
3 notes on the card itself: how it is issued · the network variants · why it ranks #481
Why #481 The most expensive department-store card in India, and the arithmetic only works inside one chain. Away from Shoppers Stop it pays 2 Reward Points per ₹100 that RBL's own portal prices at ₹0.25 — half a percent, ceilinged at ₹25,000 of spend a month. Everything that justifies ₹10,000 sits behind a Shoppers Stop till: the 15-point rung, the ₹1 point, the vouchers. It ranks on that, not on a lounge door it does not have.
One point, two prices, four times apart. The card's own Terms and Conditions say it plainly: "The Cardmember can redeem Reward Points at Shoppers Stop at a value of INR 1.00 per Reward Point and on the RBL Rewards Portal at a value of up to INR 0.25 per Reward Point." So every headline on this card — the 15-point rung, the ₹1 point, the whole ₹10,000 case — is quoted at a price you can only collect by walking back into Shoppers Stop. Take the points anywhere else and three-quarters of the value evaporates. A ₹99 + GST redemption fee comes off the request on top, and RBL charges it once a day however many redemptions you make.
The take
RBL and Shoppers Stop have built the most expensive retail co-brand in the country, and it is not close. ₹10,000 a year, no spend waiver at any level, no lounge access, no travel benefit of any kind — this is a wardrobe card that happens to be a credit card. Judge it on that and it is coherent: 15 Reward Points per ₹200 across the Shoppers Stop Universe with each point worth ₹1 inside the store is 7.5% back, which nothing else on this board pays on apparel. The ceiling is the catch. Accrual stops at 1,500 Reward Points a month, which is ₹20,000 of Shoppers Stop spend and ₹18,000 a year of store credit at the very most. Hit the ceiling every month and the card is excellent value; shop there twice a season and you are paying ₹10,000 for a 0.5% card. The milestones widen the case a little — ₹1,500 of vouchers for ₹2.5 lakh in a calendar quarter and ₹2,500 more for ₹8 lakh in a year, both on ANY eligible spend rather than Shoppers Stop spend — but ₹10 lakh a year through a card that pays half a percent off-brand is an expensive way to collect ₹8,500 of vouchers. Year one is the honest sell: ₹3,000 voucher, ₹3,000 gift, a ₹4,500 First Citizen Black membership and a makeover against a ₹10,000 fee. Year two is where the arithmetic gets asked a hard question, and for most readers the ₹5,000 Platinum below it answers better.
Your renewal — keep, downgrade or cancel
Here is the fee, the spend that clears it, and everything that has moved under this card since you last decided.
Keep, downgrade or cancel
₹10,000/yr at stake · 5 spend bands
The charge ₹10,000/yr
Break-even ₹1,40,000 a month — ₹16,80,000 a year — is where this card's value crosses its fee.
At your spend
−₹9,000 a year, net of the fee, at ₹3,00,000 of annual spend
−₹8,500 a year, net of the fee, at ₹6,00,000 of annual spend
−₹8,500 a year, net of the fee, at ₹12,00,000 of annual spend
₹0 a year, net of the fee, at ₹36,00,000 of annual spend
₹0 a year, net of the fee, at ₹60,00,000 of annual spend
Everyday earn plus milestones, minus the fee — the same model as the value panel above, so the two cannot disagree. run your exact spend →
Your copy of this card
You hold this card.
Kept on this device, in your browser. It is never sent to us, never synced, and nothing else on the site reads it yet.
The downgrade
RBL Bank publishes no document naming a card you can step down to, so we name none — an invented product change is a phone call you would waste. That leaves keep or cancel, and the numbers above are the whole of it.
What has changed under this card
- 23 Sep 2026 Axis EDGE brings Accor back, drops ITC, and adds Cathay, Miles & More and Hilton a program these points reach
- 22 Aug 2026 RBL relaunches the Shoppers Stop co-brand as a Gold / Platinum / Black trio
- 21 Aug 2026 Club ITC pays up to 50,000 bonus Green Points for spreading 10 nights across all five brands a program these points reach
We price what is in force today — a change that has not happened yet is not in these numbers. the full archive for this card →
If you call to cancel
What the bank offers to keep you is the one fact this desk cannot compute. We are collecting those reports — dated, and only in aggregate — before publishing any: an offer one reader was made is not one you are owed. Called about this card? Tell us what they offered →
The desk publishes subscribable .ics feeds for the dates it knows — offer deadlines, devaluations, expiry audits. Your renewal date is not one of them: only your statement knows it.
What's good
- 15 Reward Points per ₹200 across the Shoppers Stop Universe, and 1 point = ₹1 there — 7.5% back on apparel
- Welcome stack worth ₹10,500 on RBL's own numbers: ₹3,000 voucher, ₹3,000 gift, ₹4,500 First Citizen Black membership
- ₹1,500 of Shoppers Stop vouchers every calendar quarter you spend ₹2.5 lakh — on any eligible spend, not just in store
- ₹2,500 more in vouchers at ₹8 lakh of eligible spend in an anniversary year, assessed separately from the quarterly one
- 1,000 bonus Reward Points a quarter on a single ₹20,000 Shoppers Stop purchase, once you have cleared ₹75,000 the quarter before
- Issued on Visa or Mastercard, your pick at application
Watch out
- ₹10,000 + GST every year with NO spend waiver — RBL prints a waiver parenthetical against fifteen other variants and none against this one
- The ₹1 point is a Shoppers Stop price. RBL's own portal pays up to ₹0.25, so off-brand this is a 0.5% card
- Store accrual stops at 1,500 Reward Points a month and ordinary accrual at 500 — neither carries forward, so ₹18,000 a year is the hard ceiling on the headline rung
- No lounge access, no travel insurance, no forex concession — the markup is RBL's standard 3.5%, unlike Insignia's 1.5% or World Safari's 0%
- Fuel, utilities, insurance, rent, railways, education, government, wallets, cash, Bills2Pay and merchant-EMI spends earn nothing AND do not count towards any milestone
- Reward Points cost ₹99 + GST to redeem, and the welcome benefits are void unless you transact within 30 days and pay the fee within 60
- The quarterly bonus points are void during Shoppers Stop's End of Season Sale — the fortnight you are most likely to spend ₹20,000 there
- RBL charges 1% on FIVE transaction types its Schedule of Charges lists separately from the reward exclusions: rent (MCC 6513, on every transaction), fuel and auto above ₹10,000 a transaction (capped at ₹3,000), utility spends above ₹50,000 a month, education paid through third-party apps such as CRED, PhonePe or Paytm (school and college websites are exempt), and — with effect from 7 January 2026 — FASTag loading and tolls above ₹10,000 a transaction. These are FEES, listed nowhere near the reward exclusions: a category can both cost you 1% and earn you nothing
What these points actually fly
RBL Reward Points move to Club ITC — and that programme prices every award dynamically. There is no published chart to quote, so we quote nothing: an estimate is not a seat.
what the cards that DO reach a chart can fly — 2,196 corridors priced →
What earns, what doesn't
10 sourced rules · 9 pay zero
- Fuel · excluded Zero Reward Points AND no milestone credit (MCC 0032, 2541, 4001, 5542, 5541, 5172). RBL's Schedule of Charges adds a 1% fee on any fuel or auto transaction above ₹10,000, capped ₹3,000
- Rent & property management · excluded Zero points and no milestone credit (MCC 6513), plus a separate 1% fee on every rental transaction
- Wallet loads · excluded Zero points and no milestone credit (MCC 6540)
- Utilities (electricity/water/gas) · excluded Zero points and no milestone credit (MCC 4900), plus a 1% fee on utility spends above ₹50,000 a month
Does your spend count toward the milestones?
not published — and we say which
₹8,00,000 a year is the bar for the first milestone. A different question from the one above — earning points and counting toward a threshold are separate rules, and issuers write them separately.
Not published. RBL Bank states what the RBL Bank Shoppers Stop Black earns and does not earn, but has not published which spend categories count toward the milestones — the ₹8,00,000 bar. We won't guess it from the earn table or from a sibling card: Axis published three cards' rules on one day and all three lists differed. If you hold this card and have it in writing from the issuer, send us the document and we'll source it.
Lounge access
0 of 793 tracked doors
No lounge access. This card opens exactly 0 of 793 tracked lounge doors — board with the crowd, or find a card that doesn't →
Can you get it?
the route in — no cutoffs published
The cutoffs and the actual route in — not the "apply now" button, the door that opens.
Direct application — no invite list, no banking relationship required.
Applications are open on RBL's own product page, which carries a live Apply Now funnel. RBL publishes no income or age criteria for this card in its MITC or Schedule of Charges — its eligibility block is generic to the credit-card shelf. The welcome benefits are conditional on three things RBL states explicitly: a valid retail transaction within 30 days of issuance, payment of the annual membership fee as billed on the first statement, and a successful claim; a card whose fee was waived under a promotion gets nothing.
RBL Bank publishes no income or age cutoffs for this card. Blank means blank — we don't invent numbers to fill a grid.
per the official RBL Bank MITC — figures marked (community) aren't in the PDF; the issuer won't say · filter the board by what you can get →
The fine print
7 of 7 MITC rows published
What the MITC actually says — the rates, fees and cutoffs the brochure skips.
₹10,000 both years with NO spend waiver: RBL's MITC prints a "(NIL on eligible annual spends of …)" parenthetical against fifteen other variants and prints nothing against this one. Visa or Mastercard, chosen at application. THE NUMBER THAT DECIDES THE CARD: the T&C reads "The Cardmember can redeem Reward Points at Shoppers Stop at a value of INR 1.00 per Reward Point and on the RBL Rewards Portal at a value of up to INR 0.25 per Reward Point", so every headline is quoted at a price collectable only inside the store. Earn is 15 Reward Points per ₹200 across the Shoppers Stop Universe capped at 1,500 points a month, and 4 per ₹200 elsewhere capped at 500 a month; the caps are computed separately per category, reset each billing cycle and never carry forward, and spend is rounded down to multiples of ₹200. Milestones are ₹1,500 of Shoppers Stop vouchers per calendar quarter at ₹2.5 lakh of eligible spend and ₹2,500 per anniversary year at ₹8 lakh, assessed separately. A further 1,000 bonus points a quarter need a single ₹20,000+ Shoppers Stop purchase after ₹75,000 of spend the previous quarter, and are void during Shoppers Stop's End of Season Sale. Welcome is a ₹3,000 voucher, a gift worth up to ₹3,000, a First Citizen Club Black membership worth ₹4,500 and a makeover — all void if the fee was waived, and conditional on a retail transaction inside 30 days plus fee payment inside 60. Excluded from both points and milestones: fuel and auto (MCC 0032, 2541, 4001, 5542, 5541, 5172), utilities (4900), insurance (6300, 6310), quasi-cash (6050, 6051, 4829), railways (0066, 4011, 4112), rent and real estate (6513), education (8220, 8244, 8249, 8211, 8241, 8299), wallets (6540), government services, contracted services, cash (6011, 6010), miscellaneous (5960), Bills2Pay and merchant-EMI conversions. Separate 1% fees apply on rent, on fuel and auto transactions above ₹10,000 (capped ₹3,000), on third-party education payments, on utility spends above ₹50,000 a month and — from 07 January 2026 — on FASTag and toll transactions above ₹10,000. NO LOUNGE CLAUSE APPEARS ANYWHERE IN THE PRODUCT PAGE OR THE CARD T&C.
per the official RBL Bank MITC · reviewed 10 Jul 2026
What's changed for this card
6 dated changes
Devaluations and buffs that touch this card directly, its issuer, or the points and programs it earns and transfers to. Every one is dated here; the tracker carries each one's before → after and the write-up.
- 23 Sept 2026Axis EDGE brings Accor back, drops ITC, and adds Cathay, Miles & More and HiltonAccor and Marriott off the grid since 2 April 2026; Club ITC live; no Cathay, Miles & More or Hilton → Accor live at the punished rates; ITC removed; Cathay, Hilton and Miles & More live; Marriott still gone
Axis's own Travel EDGE terms, re-read 25 September 2026, already show the grid that went live on 23 September. Accor ALL is back, and not at the old Atlas 1:2: EDGE Miles convert at 2:1 (Olympus 1:2) and EDGE Rewards at 5:1, with Magnus for Burgundy at 5:2 and only Burgundy Private still at 5:4. Club ITC is off the table. Three partners are new. Cathay Asia Miles sits on that same punished grid. Hilton Honors is the ordinary one: EDGE Miles 1:2, EDGE Rewards 5:2, Burgundy 5:4. Lufthansa Miles & More is the exception on Atlas, which converts 1:1 there while every other standard airline on that card is 1:2; the EDGE Rewards side of Miles & More is the ordinary 5:2. Marriott stays removed. Qatar Privilege Club was already back. Flying Blue, Air India and Qantas moved into Group A, which is the capped group. The Axis Rewards credit card's Amex network is advertised as joining-fee and annual-fee nil for a limited period; there is no separate Amex variant on this board, so that offer is not modelled as a fee change.
- 22 Aug 2026RBL relaunches the Shoppers Stop co-brand as a Gold / Platinum / Black trio
- 21 Aug 2026Club ITC pays up to 50,000 bonus Green Points for spreading 10 nights across all five brands
- 7 Jan 2026RBL bolts a 1% fee onto FASTag loads and tolls — the fifth 1% line on its charge sheet
- 1 Jul 2025RBL gates domestic lounges behind ₹35k a quarter
- 15 Oct 2024RBL strips points from education, government and wallet spends
Verified against RBL Bank's own documents on · the net-annual-value engine, at our house ₹/point
Every document behind this page — 4 of them, each with the day we read it
- official Product page — 15 Reward Points per ₹200 at Shoppers Stop with 1 point = ₹1, 4 per ₹200 elsewhere, the ₹10,000 fee, both milestones and the Visa/Mastercard line
- official Card T&C — the ₹10,000 fee, the two-price Reward Point (₹1 at Shoppers Stop, up to ₹0.25 on RBL's portal), both monthly caps, both milestones and the full exclusion MCC table
- official Bank-wide MITC — "RBL Bank Shoppers Stop Black Credit Card | INR 10,000 | INR 10,000 | INR 200 for plastic card", with no fee-reversal parenthetical
- official Schedule of Charges RBL-CC-SOC-V2-12-12-2025 — the 3.5% forex band this card sits in, the ₹99 + GST redemption fee, and the 1% rent/fuel/utility/education/FASTag fees