AU Nomo Credit Card – Benefits, Fees & Eligibility

AU Nomo Credit Card

Introduction

The AU Nomo Credit Card is a secured credit card, issued against a fixed deposit, catering to individuals new to credit, students, or those aiming to build or improve their credit scores. Requiring a minimum fixed deposit of ₹20,000, this card provides a rewarding experience on retail purchases, as well as on utility and insurance transactions. It features a competitive foreign currency markup of just 0.99% and offers valuable travel benefits including complimentary domestic airport and railway lounge access. The card includes a joining fee but is free of renewal charges from the second year, effectively making it a lifetime-free card after the initial year. Cardholders can enjoy the dual benefit of earning reward points while their fixed deposit continues to earn interest.

Welcome Benefits

• Earn 500 Reward Points on your very first transaction, provided it is made within 30 days of card setup.
• These 500 Reward Points have a value of ₹125, which helps offset the initial joining fee.

Fees

• Joining Fee: ₹199 + applicable taxes.
• Renewal Fee: N/A (No charges from the second year onwards, making the card effectively lifetime free after the first year).
• Rewards Redemption Fee: ₹99 + GST.
• Foreign Currency Markup: 0.99% for international transactions.
• Interest Rates: 3.59% per month (43.08% annually).
• Fuel Surcharge: 1% Fuel Surcharge Waiver for transactions between ₹400 and ₹5,000 at all fuel stations across the country, with a maximum waiver of ₹100 per statement cycle.
• Cash Advance Charges: 2.5% of the cash withdrawal amount or ₹500, whichever is higher.

Rewards

• Reward Points Earning

  • Earn 2 Reward Points for every ₹100 spent on retail purchases.
  • Earn 1 Reward Point for every ₹100 spent on utility and insurance transactions.
  • Exclusions: Cash, Rent, Education & Govt, EMI, Fuel, BBPS, and Quasi Cash transactions are not eligible for Reward Points.
  • Cap: Cardholders will earn a maximum of 100 Reward Points per transaction on Utility & Telecom spends.

• Milestone Benefits

  • Cross ₹25,000 retail spends in a quarter to receive 500 Reward Points.
  • Receive an additional 500 Reward Points on achieving ₹50,000 retail spends in a quarter.
  • Fuel & Cash transactions will not be considered for Milestone benefit calculation.

• Travel Benefits

  • Domestic Airport Lounge Access: Enjoy 2 complimentary access visits to Domestic Airport Lounges per quarter upon achieving ₹20,000 spends in a calendar quarter.
  • Railway Lounge Access: Recharge before your journey with 2 complimentary Railway Lounge visits per calendar quarter. Add-on cardholders can also enjoy Railway Lounge Access within the mentioned complimentary number of visits.

• Insurance Benefits

  • Card Liability Cover: In the unfortunate event of loss of Credit Card, you carry zero liability on any fraudulent transactions made with the card after reporting the loss to the bank.
  • You are also protected against Card Counterfeit/Skimming and Online frauds.

• Foreign Currency

  • Enjoy international transactions with a lower Forex Markup of just 0.99%.

Rewards Redemption Guide

• Redeem your Reward Points for a diverse range of benefits, including e-vouchers, merchandise, mobile/DTH recharges, and flight/hotel bookings from the curated rewards catalogue at AU Rewardz.
• The value of 1 Reward Point is ₹0.25.

Card Eligibility Criteria

• Primary Cardholder Age: 18 years to 75 years.
• Add-on Cardholder Age: Should be over 18 years.
• Residency: Resident Indian.
• Fixed Deposit Requirement: A minimum fixed deposit of ₹20,000 is required to avail the card.
• (Please note: Criteria is indicative; approval is subject to AU Small Finance Bank's discretion.)

Card Review

The AU Nomo Credit Card serves as an excellent entry point into the world of credit for first-time users, students, or those who require a secured credit card to build a credit history. Issued against a fixed deposit of at least ₹20,000, this card allows users to earn competitive reward points on various transactions while their fixed deposit continues to grow. Its fee structure is consumer-friendly, with a modest joining fee and no renewal charges from the second year, essentially making it a lifetime-free card.

The card's reward program is noteworthy, offering 2 Reward Points for every ₹100 spent on retail and 1 Reward Point for utility and insurance. Milestone benefits reward higher quarterly spends, providing additional incentive for active usage. For travelers, the card offers complimentary domestic airport lounge access, achievable with a reasonable quarterly spend of ₹20,000, along with free railway lounge visits. The low 0.99% forex markup is a significant advantage for international transactions.

Pros:

• Features a low forex markup charge of 0.99%.
• Rewards are earned on both insurance and utility spends.
• Reasonable spend-based criteria for domestic airport lounge access.
• Effectively lifetime free from the second year onwards.

Cons:

• Primarily designed for beginners in their credit journey, it may not offer the extensive features found in premium, unsecured cards.
• Lacks specific dining or movie benefits, which might be a desired feature for a younger demographic.

Important Product Details

• The AU Nomo is a secured credit card that requires a minimum Fixed Deposit of ₹20,000.
• It is a physical credit card.
• Offers 2 complimentary railway lounge accesses each quarter.
• Provides spend-based domestic airport lounge access (2 visits per quarter upon ₹20,000 spend).
• Features a low foreign currency markup of 0.99%.
• Rewards are earned on insurance and utility spends.
• The card is issued on the Visa Platinum network.

Other Details

• Contactless Card Usage: Facilitates secure and convenient tap-and-pay transactions at participating merchants for amounts up to ₹5,000 without requiring a PIN.
• Xpress EMI: Allows conversion of transactions of ₹500 and above, with a minimum total value of ₹2,000, into EMIs. Up to 20 billed or unbilled transactions can be clubbed for conversion. EMI conversion can be initiated through multiple channels including the AU 0101 App, Net-Banking, Auro Chat-bot, WhatsApp Banking (8383838399), On Call (1800 1200 1500), and IVR.