IndusInd Bank Platinum Credit Card 2024 Are you a young individual looking to maximize your financial opportunities in 2024? The IndusInd Bank Platinum Credit Card might just be the key to unlocking a world of exclusive benefits and privileges tailored to suit your dynamic lifestyle. In this detailed guide, we will delve into the features and perks that come with this credit card, helping you make an informed decision on whether it aligns with your financial goals. Stay ahead of the curve and explore how the IndusInd Bank Platinum Credit Card can elevate your spending experience in the upcoming year.
IndusInd Bank Platinum Credit Card Key Highlights
- Exclusive benefits such as golf lessons, concierge services, and more are part of the premium lifestyle package.
- TTop-notch travel perks and fuel advantages.
Benefits and Features
|
Insurance Cover |
Sum Assured (up to) |
|
Welcome benefits |
|
|
Fuel benefits |
You can free yourself from surcharge charged on petrol purchases at fuel stations across India with IndusInd Bank’s surcharge waiver facility. The 1% surcharge waiver is applicable on all the fuel transactions worth between Rs.400 and Rs.4,000. |
|
Zero liability on lost or stolen card |
In case of loss/theft of card, the bank provides an insurance cover up to 48 hours prior to you reporting the loss of your card to IndusInd Bank. |
|
Personal air accident insurance |
Cardholders will get personal air accident cover worth Rs.25 lakh completely free with the card. |
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Insurance benefits |
|
|
Lost baggage |
Rs.1 lakh |
|
Delayed baggage |
Rs.25,000 |
|
Loss of passport |
Rs.50,000 |
|
Lost ticket |
Rs.25,000 |
|
Missed connection |
Rs.25,000 |
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Pros & Cons
Pros
- Complimentary vouchers and gift cards as welcome benefit
- Transfer of rewards into miles at a value of 1RP= 1 InterMile/ CV Point
- Fuel surcharge waiver across all fuel stations
Cons
- Low reward rate of 0.40% across all categories
- No travel benefits like complimentary lounge access
- No milestone benefits are offered
Credit limit on the IndusInd Bank Platinum Credit Card
The Platinum Credit Card’s credit limit will be determined by IndusInd Bank, taking into account factors such as your income, credit history, and repayment ability. You will be informed of this when the card is issued.
Reward Points on the IndusInd Platinum Credit Card
- For every Rs.150 spent using the card, you accumulate 1.5 reward points.
- Reward points are available for all types of purchases except for fuel transactions.
IndusInd Bank Platinum Credit Card Reward Points Redemption
- Reward points earned can be exchanged for gift vouchers from Indus Moments, Airline Miles, or cash credit.
- Head to the IndusInd Bank Platinum Card page to avail the reward points.
Fees and Charges
|
Type of Fee |
Amount (Rs.) |
|
Joining fee |
Rs.3,000 |
|
Annual fee |
NIL |
|
Interest charge |
3.83% per month |
|
Cash withdrawal charges |
2.5% of the withdrawal amount or Rs.300, whichever is higher |
|
Add-on credit card fee |
NIL |
|
Late payment charges |
|
|
Over limit charges |
2.5% of the over limit amount subject to a minimum of Rs.500 |
|
Cheque return or bounce charges |
Rs.250 per return |
|
Foreign currency mark-up fee |
3.5% |
|
Cash payment fee (over the counter) |
Rs.100 |
|
Re-issue of lost or stolen card |
Rs.100 |
|
Duplicate statement request charge |
Rs.100 per statement (beyond last 3 months) |
Eligibility Criteria
|
Criteria |
Details |
|
Occupation |
Salaried or Self-employed |
|
Age |
21 to 60 years (or till retirement age) |
|
Minimum Income Required |
Rs. 20,000 per month |
Documents needed to Apply for the IndusInd Bank Platinum Credit Card
To obtain the Platinum credit card, you need to provide proof of income, address, and identity. The specific documents required will be informed to you when you apply for the card.
How to Apply for IndusInd Bank Platinum Credit Card Online
You have the option to apply for the IndusInd Bank Platinum Credit Card either on the official website of IndusInd Bank or through the browvopetshop website by following the provided steps.
- Enter the information asked for.
- Once your eligibility is confirmed, you can apply for the card in the next step.
- Enter all the relevant information, upload documents, and submit them.
- Utilize the Application ID you receive to monitor your application’s status.
How much you can save via IndusInd Bank Platinum Credit Card?
Here’s a detailed example to help you understand how much you can save via IndusInd Bank Platinum Credit Card. Suppose you have spent Rs. 60,000 in a month as per the following details:
|
Category |
Amount |
Rewards/ Savings |
|
Travel |
Rs. 15,000 |
150 RP = Rs. 50 |
|
Shopping |
Rs. 10,000 |
100 RP = Rs. 40 |
|
Dining |
Rs. 10,000 |
100 RP = Rs. 40 |
|
Grocery |
Rs. 20,000 |
200 RP = Rs. 80 |
|
Fuel |
Rs. 5000 |
Rs. 40 |
|
Total |
Rs. 60,000 |
Rs. 260 |
Rewards Comparison: IndusInd Platinum Vs. IDFC First Select Vs. SBI Prime
Reap benefits from your transactions by earning rewards. To illustrate, let’s look at an example to see the potential monthly savings with these cards:
|
Category |
Monthly Spend |
Savings via IndusInd Platinum |
Savings via IDFC First Select* |
Savings via SBI Prime |
|
Travel |
Rs. 10,000 |
Rs. 40 |
Rs. 120 |
Rs. 50 |
|
Dining |
Rs. 10,000 |
Rs. 40 |
Rs. 60 |
Rs. 250 |
|
Grocery |
Rs. 15,000 |
Rs. 60 |
Rs. 260 |
Rs. 375 |
|
Movie Tickets |
Rs. 5,000 |
Rs. 20 |
Rs. 100 |
Rs. 125 |
|
Retail Purchases |
Rs. 10,000 |
Rs. 40 |
Rs. 200 |
Rs. 50 |
|
Online Shopping |
Rs. 5,000 |
Rs. 20 |
Rs. 100 |
Rs. 25 |
|
Departmental Store |
Rs. 10,000 |
Rs. 40 |
Rs. 200 |
Rs. 250 |
|
Total |
Rs. 65,000 |
Rs. 260 |
Rs. 1,040 |
Rs. 1,125 |
IndusInd Platinum, IDFC First Select, and SBI Prime, all credit cards give a decent value For When using the IDFC First Select Credit Card, rewards accumulated from the initial Rs. 25,000 expenditure across the first 3 categories are determined at the standard rate. In contrast, rewards from expenditures in all other categories are calculated at the higher earning rate. The calculation methodology outlined above is predicated on the following assumptions: 1 reward point (RP) from the IDFC First Select and SBI Prime Credit Cards is equivalent to Re. 0.25, while 1 RP from the IndusInd Platinum Credit Card equals Re. 0.40.
IndusInd Bank Platinum Credit Card Images
