Unbiased Review: IndusInd Bank Platinum RuPay Credit Card Benefits, Pros, Fees, Charges, and Eligibility
- Abhijeet Saxena
- Nov 7, 2024
- 2 min read
Rupay has become one of the most popular payment networks in India, giving Visa and Mastercard a run for their money. IndusInd Bank has also launched multiple Rupay credit cards, the IndusInd Bank Platinum RuPay Credit Card is one such credit card. This review highlights its benefits, strengths, fees, and eligibility criteria, aiding you in making an informed decision.
Overview
IndusInd Bank has established a strong reputation in the banking sector by offering innovative financial products. The Platinum RuPay Credit Card is noteworthy for being part of the RuPay network, a domestic card initiative that aims to provide affordable banking options for everyone.
Benefits of the IndusInd Bank Platinum RuPay Credit Card
The card includes a variety of benefits specifically designed to meet diverse customer needs.
1. Reward Points
Creditcard holders Get 2 reward points on every INR 100 spent on UPI transactions. Value of 1 reward point is INR 0.35. UPI cashback rate: 0.70%. Get 1 reward points on every INR 100 spent on non-UPI transactions. Value of 1 reward point is INR 0.35. Non-UPI cashback rate: 0.35%.
2. Insurance Benefits
Cardholders enjoy complimentary insurance coverage, including:
Free lost baggage insurance for claims upto: INR 1 lakh.
Free delayed baggage insurance for claims upto: INR 25,000.
Free loss of passport insurance for claims upto: INR 50,000.
Free loss of ticket insurance for claims upto: INR 25,000.
Free missed connection insurance for claims upto: INR 25,000.
Fees and Charges
It's essential to understand the fees associated with the IndusInd Bank Platinum RuPay Credit Card.
Joining Fee: INR 0.
Annual Fee: INR 0.
Interest Rate: 3.83% per month and 46% per annum.
Late Payment Fee: Between INR 100 and INR 1300 depending on the amount unpaid.
Cash Advance Fee: 2.5% of the transaction amount (minimum INR 300).
Foreign Currency Markup Fee: 3.5% of the transaction amount.
Eligibility Criteria
Familiarizing yourself with the eligibility criteria can help determine if you qualify for the IndusInd Bank Platinum RuPay Credit Card.
1. Age Requirement
Applicants must be at least 21 years old, ensuring that only responsible adults can manage the credit effectively.
2. Income Level
IndusInd has not specified minimum income level for this card.
3. Credit Score
A good credit score, typically above 650, is generally necessary. It reflects an applicant’s likelihood of repaying their debts responsibly.
Final Thoughts
The IndusInd Bank Platinum RuPay Credit Card is devoid of any kind of perks. It is a basic credit card. Overall it is a disappointing credit card. However, the only redeeming feature of the card is that it is on the Rupay network. It can be linked to UPI and thereafer it can be used with any of your UPI apps such as Gpay or Phonepe. Only those individuals who are not eligible for any other card should apply for this card.
You can read a more detailed review of this card and our unbiased AI-powered ranking of this card here.
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