Bandhan Bank Lumina Credit Card – Benefits, Fees & Eligibility

Introduction

The Lumina Credit Card, issued by Bandhan Bank, is positioned as a premium offering designed to redefine exclusivity and provide unforgettable experiences. It features a luminous gradient design, emphasizing elegance and precision. Key differentiating benefits include unlimited international airport lounge access, a low foreign currency markup of just 1%, and a substantial welcome benefit of a ₹10,000 'Giftwrapped by Oberoi' e-voucher. The card also boasts never-expiring rewards and a comprehensive suite of travel, lifestyle, and golf perks.

Welcome Benefits

• Receive a ₹10,000 'Giftwrapped by Oberoi' e-voucher upon spending ₹20,000 within the first 30 days of card issuance and payment of the joining fee.

Fees & Charges Breakdown

• Joining Fee: ₹9,999 + taxes
• Renewal Fee: ₹9,999 + taxes
• Renewal Fee Waiver Condition: Minimum annual spend of ₹12,00,000
• Interest Rate (p.m) Retail Purchases:
  • 1.50% for Existing-To-Bank (ETB) customers holding a CASA relationship
  • 3.50% for New-To-Bank (NTB) customers
• Interest Rate on Cash Withdrawal: 3.50%
• Over Limit Fee: ₹500 + taxes
• Add-on Card Fee: Nil
• Rewards Redemption Fee: Nil
• EMI Processing Fee (flat): ₹99 + taxes
• EMI Foreclosure Fee: 3% of remaining outstanding (Minimum of ₹100 + taxes)
• Card Re-issuance Fee (for lost/stolen/damaged): Nil
• Rent Payment Fees: 1% (maximum of ₹500 per transaction) + taxes
• Outstation Cheque Processing Fee: Nil
• Fee on Cash Payment at Branches: Nil
• Returned Payment Fee: Nil
• Charge Slip Fee: Nil
• Duplicate Statement Fee: Nil
• Foreign Currency Mark-up: 1.00% + taxes
• Cash Withdrawal Fee: Nil
• Fuel Surcharge Waiver: 1% waiver up to ₹1,000 per statement cycle
• Late Payment Charge (based on unpaid outstanding from last statement balance): Nil for all tiers (Less than ₹100, ₹100 - ₹500, ₹501 - ₹5,000, ₹5,001 - ₹10,000, ₹10,001 and above). GST will be applicable.

Rewards & Cashback Structure

• Standard Earning Rate: 16 reward points on every ₹200 spent.
• Accelerated Earning Rate: 1.5X reward points (24 per ₹200) on International spends.
• Milestone Rewards: Earn up to 10,000 bonus reward points every month on spends of ₹1 lakh.
• Reward Redemption Fee: Nil.
• Point Expiry Rules: Rewards are never-expiring.

Travel, Lounge & Lifestyle Perks

• International Airport Lounge Access: Unlimited complimentary access at select airports.
• Domestic Airport Lounge Access: 8 complimentary accesses per quarter at select airports.
• Foreign Currency Mark-up: Low Forex Mark-up of just 1% on International spends.
• Airport Meet & Greet Services: 4 complimentary services.
• Golf Offers: 4 complimentary golf lessons and 4 games at leading courses across India and select courses across the world.
• Dining Discounts: 25% discount on EazyDiner, up to ₹1,000 once every month.
• Movie Offers: 25% discount on BookMyShow, up to ₹1,000 once every month.
• Concierge Services: Exclusive concierge services for travel booking, dining reservations, and gift deliveries.

Card Eligibility Criteria & Income Requirements

• Primary Cardholder Age: Between 21 and 65 years.
• Residency: The individual should be a resident of India.
• Income Range: >₹18 lakh.

Credit Card Review

The Lumina Credit Card is a premium offering from Bandhan Bank, best suited for high-net-worth individuals who frequently travel internationally and have significant spending habits. Its strengths lie in its generous travel benefits, including unlimited international lounge access, a low forex markup, and complimentary airport meet & greet services. The never-expiring reward points and accelerated earnings on international spends add significant value. The card also provides substantial lifestyle perks such as golf, dining, and movie discounts, along with a valuable welcome benefit. The high joining and renewal fees are justified by the extensive benefits, especially if the annual spend waiver condition of ₹12,00,000 is met. The stated "Nil" late payment charges across all tiers are unusual and should be verified by potential applicants. Overall, it offers a comprehensive suite of benefits for a premium segment.

Important Product Details

• Design: Luminous gradient design showcasing elegance through simplicity and precision.
• Rewards: Features never-expiring rewards.
• Transparency: Transparent terms with no hidden charges.
• Security: Advanced security for transactions and personal data.
• Annual Value: The card offers an approximate total annual value of ₹1,78,900 based on various benefits.

Other Details

• Fuel Surcharge Cap: The 1% fuel surcharge waiver is capped at ₹1,000 per statement cycle.
• Estimated Annual Value Breakdown:
  • Oberoi E-gift voucher: ₹10,000
  • Benefit earned through accelerated reward points (5,000 bonus points per month): ₹15,000
  • Benefits earned through all other transactions (on total spends of ₹1,00,000 per month): ₹4,800
  • Dining offer (₹1,000 per month): ₹12,000
  • Movie offer (₹1,000 per month): ₹12,000
  • Complimentary lounge benefit (considering 4 international and 8 domestic lounge visits per quarter): ₹83,130
  • Fuel surcharge waiver (₹1,000 per statement cycle): ₹12,000
  • Milestone benefit (on total spends of ₹1,00,000 per month): ₹30,000
  • Total approximate annual value: ₹1,78,900
• Card Management: Seamless card management available through a dedicated Card Management Portal.
• Important Documents: Access to various legal documents including MITC, Fair Practice Code, Cardholder's Agreement, and Credit Card Program Policy.
• Important Links: Resources for bill payment, credit card activation, and repayment via payment gateway.
• Educational Resources: Provides articles and blogs on topics such as travel checklists, managing lost/stolen credit cards, and identifying credit card fraud alerts.