IndusInd Bank has launched some of the most unique credit cards in India such as the IndusInd EazyDiner Credit Card. Another unique offering from IndusInd is IndusInd Platinum Visa Credit Card. This review aims to thoroughly analyze the advantages, drawbacks, fees, and eligibility requirements of this card so you can make an informed decision.
Overview of IndusInd Platinum Visa Credit Card
The IndusInd Platinum Visa Credit Card is crafted for individuals looking for a combination of rewards, convenience, and security.
Benefits of the IndusInd Platinum Visa Credit Card
Reward Points Program
Creditcard holders get 1 reward point on spending INR 100. Value of 1 reward point = INR 0.40. General cashback rate: 0.4%.
Welcome Benefits
Creditcard holders get welcome gift voucher from Montblanc, Luxe, Postcard Hotels, Vouchgram and Vouchgram Premium.
Travel Benefits
For those who love to travel, the IndusInd Platinum Visa Credit Card provides a wealth of travel perks, including:
Free lost baggage insurance worth: INR 1 lakh.
Free delayed baggage insurance worth: INR 25,000.
Free loss of passport insurance: INR 50,000.
Free loss of ticket insurance worth: INR 25,000.
Free missed connection insurance worth: INR 25,000.
Fees and Charges
Joining Fee: INR 3,000
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.
Cons of the IndusInd Platinum Visa Credit Card
Limited Perks
The credit card offers very limited persk. It does not offer any kind of dining discount or even movie benefits. Lack of perks severally limits its appeal.
Low Cashback Rate
The card offers a very low cashback rate. This limits its appeal to the middle class individuals.
Eligibility Criteria
To navigate the application process for the IndusInd Platinum Visa Credit Card, applicants should be aware of specific eligibility requirements.
Age Requirement
Typically, applicants must be at least 21 years old. This ensures that cardholders have the legal ability to enter agreements.
Income Criteria
IndusInd Bank has not specified the income criteria on its website.
Final Thoughts
The IndusInd Platinum Visa Credit Card overall is a dissaapoint credit card because of lack of persk and low cashback rate. There are multiple alternatives in the market which are loaded with perks and are offering a higher cashback rate and giving a tough competition to IndusInd Platinum Visa Credit Card.
By conducting comprehensive research and being aware of all aspects, users can make sound financial choices that cater to their individual circumstances.
You can read a more detailed review of this card and check our unbiased AI-powered ranking of this card here.
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