Equitas Small Finance Bank PowerMiles Credit Card – Benefits, Fees & Eligibility

PowerMiles Credit Card

Introduction

The Equitas PowerMiles Credit Card is designed for frequent travelers and high-spend users who wish to convert their expenditures into air miles or travel rewards. It offers a premium experience with interest-free credit periods, a robust reward program for miles conversion, and various travel-centric benefits such as international lounge access and comprehensive travel insurance.

Welcome Benefits

• Enjoy exclusive Club Marriott & EazyDiner memberships. These complimentary memberships must be claimed within 90 days from the card issuance date; otherwise, they will expire and cannot be renewed.
• Welcome bonus of 2000 EazyPoints with EazyDiner membership.
• Introductory low-rate EMI (0.99% per month for the first 3 months) and high rewards on initial spends (mentioned generally under TIGA but could be an introductory benefit).

Fees

• Joining Fee: Rs. 5,000
• Renewal Fee: Rs. 5,000
• Spend-Based Waiver (First Year Fee): Spend Rs. 1,20,000 within the first 90 days of card issuance to get the first-year fee waived (excluding GST).
• Spend-Based Waiver (Renewal Fee): Spend Rs. 4,80,000 in the previous anniversary year to get the renewal fee waived off.
• Foreign Currency Markup: Low markup fee of 2% on all foreign currency transactions.
• Fuel Surcharge Waiver: 1% waiver on fuel transactions across India, applicable for transactions between Rs. 500 and Rs. 3,000, with a maximum waiver of Rs. 450 per statement cycle.
• Interest-Free Credit Period: Enjoy up to 50 days of interest-free credit on your spending.
• Cash Advance / ATM Withdrawal Charges: 2.5% of the amount withdrawn or ₹250, whichever is higher. Finance charges apply from the day of withdrawal until full repayment.
• Other Charges: The bank may levy other charges (e.g., late payment, over limit, return of payment) as per the Schedule of Charges in the Card Agreement / MITC.
• Rewards Redemption Fee: Redemption handling/administrative charges, if any, would be specified in the rewards programme terms (MITC/catalogue).

Rewards

• Premium Metal Card: Experience luxury with a metal card.
• Luxury Memberships:
  • Club Marriott: Up to 25% off on F&B, Hotel & Spa services. Includes a complimentary membership for the spouse.
  • EazyDiner: Enjoy 25% - 50% savings on dining, complimentary beverages, a welcome bonus of 2000 EazyPoints, and 2X EazyPoints on every meal.
• International Spends: Earn triple (3X) rewards on all international Point of Sale (POS) and online purchases.
• Lounge Access:
  • Domestic Lounges: 2 complimentary access visits per calendar quarter at over 40 domestic lounges.
  • International Lounges: 1 complimentary access visit per calendar quarter at over 1000 international lounges.
• Accelerated Rewards: Earn 3 Reward Points (RP) for every Rs. 100 spent in chosen categories. (Note: 1 RP = 0.50). This also applies to travel-related spends like flights and hotels.
• Xchange Program: Redeem your accumulated reward points against a wide range of products, vouchers, and flight/hotel bookings.

Rewards Redemption Guide

• Reward points can be redeemed through the Equitas rewards portal, Xchange (https://xchange.equitasbank.com/).
• Miles Transfer: Convert your reward points at a 1:1 ratio (1 Reward Point = 1 Mile/Point) for miles transfer across 10+ airline and hotel partners. (This feature will be available from January 1, 2026).
• Luxury Brands & Experiences: Redeem your reward points at a 1:1 ratio (1 Rupee = ₹1) for luxury brands and experiences, including Apple imagine, Tanishq, Taj, M&S, and The Body Shop.
• The specific catalogue, valuation, and conditions for redemption are detailed in the card’s Terms & Conditions / Most Important Terms & Conditions (MITC) document.
• The exact value per point, minimum points required, and available redemption options may vary based on the card variant and the chosen redemption channel (product, voucher, travel).

Card Review

The PowerMiles Credit Card is ideal for frequent flyers and travel enthusiasts who prioritize accumulating travel points, luxury experiences, and airport perks. Its premium metal design and comprehensive travel benefits, including extensive lounge access, low forex markup, and accelerated rewards on international and travel-related spends, make it a strong contender for high-spend users. While the annual fee is substantial, it can be waived with sufficient annual spending. The future availability of 1:1 miles conversion adds further long-term value. However, users should be mindful of the 90-day window to claim luxury memberships.

Important Product Details

• Positive Highlights:
  • Premium metal card design for an elevated experience.
  • Exclusive luxury memberships: Club Marriott (up to 25% off F&B, hotel & spa, complimentary spouse membership) and EazyDiner (25-50% savings, 2000 EazyPoints welcome, 2X EazyPoints).
  • Low 2% Forex markup on all foreign currency transactions.
  • Earn 3X rewards on international Point of Sale (POS) and online purchases.
  • Complimentary airport lounge access: 2 domestic visits and 1 international visit per quarter.
  • 1:1 redemption ratio for miles transfer across 10+ airline/hotel partners (effective Jan 1, 2026).
  • 1:1 redemption ratio for luxury brands & experiences (Apple imagine, Tanishq, Taj, M&S, The Body Shop).
  • 24x7 global personal concierge services for travel, entertainment, and business.
  • Comprehensive complimentary insurance coverage: Air Accident Cover worth ₹1 Crore (when flight tickets are booked with PowerMiles CC), Credit Shield, and Zero Lost Card Liability (post reporting).
  • 1% Fuel Surcharge Waiver up to Rs. 450 per statement cycle on transactions between Rs. 500 and Rs. 3,000.
  • Up to 50 days of interest-free credit period.
  • First-year fee waived on spending Rs. 1,20,000 within 90 days.
  • Renewal fee waived on spending Rs. 4,80,000 in the previous anniversary year.
  • Earn 3 Reward Points for every Rs. 100 spent in user-chosen categories (1 RP = 0.50).
  • Mandate HQ for automating recurring payments.
• Negative Highlights:
  • High annual joining and renewal fee of Rs. 5,000.
  • The highly anticipated 1:1 miles conversion feature is only available from January 1, 2026.
  • Luxury memberships must be claimed within 90 days of card issuance and will expire if not claimed.
  • Fuel surcharge waiver is capped at Rs. 450 per statement cycle and applies only to transactions within specific limits (Rs. 500-3,000).

Other Details

• For credit card-related queries, call the toll-free number: 1800-103-2977.
• For banking-related queries, call: 1800-103-1222.
• For unauthorized transactions, email: unauthtrnx@equitasbank.com.
• For customers outside India, call: +91-44-6965-4600.
• Application can also be initiated by giving a missed call to 1800 103 2977.
• Important documents related to the card, such as Card Activation, Most Important Terms & Conditions, Card Member Agreement, Key Fact Statement, Payment options, Complimentary Insurance Policy, Credit Cards Closure, Concierge Services, Privilege Program, List of Domestic & International Lounges, and Fair Practice Credit Card Operations, are available for reference.