IDBI Aspire Platinum Credit Card – Benefits, Fees & Eligibility

IDBI Aspire Platinum Credit Card

The IDBI Bank Aspire Platinum Credit Card is designed for individuals seeking enhanced rewards and convenience across various aspects of their lifestyle. This card offers best-in-class privileges for traveling, dining, and general lifestyle needs, complemented by discounts and offers applicable both in India and abroad. It stands out with no joining fees, attractive loyalty points, a fuel surcharge waiver, and zero lost card liability, making it a smart choice for managing daily expenses.

Welcome Benefits

• 500 Delight Points are awarded on the first usage of the card within 30 days of issuance, provided the transaction value is Rs. 1,500 or more.
• Alternatively, 300 Delight Points are awarded if the first usage occurs between 31 to 90 days from the card issuance date, with a minimum transaction value of Rs. 1,500.

Fees

• Joining Fee (Primary / Add-on Card): Nil
• Annual Fee (Primary / Add-on Card): Nil
• Renewal Fee (Primary / Add-on Card): Nil
• Interest on Revolving Credit Facility: 2.9% per month (equivalent to 34.8% per annum)
• Cash Advance Fee: 2.5% of the transaction amount or Rs. 500, whichever is higher.
• Late Payment Fees (Per occasion, based on amount due):
  • Up to Rs. 500: Nil
  • Greater than Rs. 500 to up to Rs. 5,000: Rs. 400
  • Greater than Rs. 5,000 to up to Rs. 10,000: Rs. 500
  • Greater than Rs. 10,000 to up to Rs. 20,000: Rs. 750
  • Greater than Rs. 20,000: Rs. 950
• Over Limit Charges: 2.5% of the over limit amount, subject to a minimum of Rs. 500.
• Cheque / Auto Debit Return Charges: Rs. 500
• Cash Processing Charges: Rs. 200
• Duplicate Physical Statement Request: Rs. 100 (for statements more than 3 months old).
• Card Replacement Fee: Rs. 200
• Foreign Currency Markup: 3.5% on the conversion amount for foreign currency transactions.
• Rewards Points Redemption Fee: Nil
• EMI Charges:
  • Minimum Amount for conversion: Rs. 3,000
  • Interest Rate: 13% per annum
  • Processing and Foreclosure Fees: Nil
  • EMI Tenure Options: 3, 6, 9, or 12 months
• Balance Transfer Charges:
  • Minimum Amount: Rs. 3,000
  • Processing Fee: 1.5% of the Balance Transfer amount or Rs. 199, whichever is higher.
  • Normal interest rates for EMI will apply.
• Card Account Closure Charge: Nil
• Note: All above charges are exclusive of applicable GST.

Rewards

• Reward Rate: Earn 2 Delight Points for every Rs. 150 spent on shopping, dining, traveling, and watching movies.
  • Note: Delight points are accrued only on eligible transactions, with certain categories exempted. Refer to the official IDBI Delight FAQ for details on exempted transactions.
• Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge waiver on transactions between Rs. 400 and Rs. 4,000 at all fuel stations across India. The maximum waiver is capped at Rs. 300 per month per statement cycle.
• Interest-Free Credit: Benefit from up to 48 days of interest-free credit on your purchases.
• Wider Acceptance: The card is accepted at over 9 lakh merchant establishments in India and over 29 million merchants worldwide.
• VISA Offers:
  • Exclusive offers on airport shopping, hotels, and car rentals provided for VISA Platinum cardholders.
  • Access to travel concierge services offered by VISA for travel-related assistance.
  • Note: These offers are provided by VISA and are subject to change at VISA’s discretion without prior notice.
• Instant EMI Facility: Convert transactions of Rs. 3,000 or more into easy EMIs with interest rates starting at 13% per annum. Reward points can be earned on transactions converted into EMI.
• Specific Benefits (NA as per webpage):
  • Movie & Dining (separate benefits beyond reward points): Not Applicable
  • Travel (separate benefits beyond reward points): Not Applicable
  • Domestic Lounge Access: Not Applicable
  • International Lounge Access: Not Applicable
  • Golf: Not Applicable
  • Insurance Benefits: Not Applicable

Rewards Redemption Guide

• Delight Points earned can be redeemed for a wide selection of gift vouchers offering lifestyle benefits.
• Points accumulated can also be redeemed for cashback.
• There is no fee for reward point redemption.
• For add-on cards, the Delight Points earned are clubbed with those of the primary card and can be redeemed as per the primary card's higher eligibility.

Card Eligibility Criteria

Eligibility Rules

• Primary Card Holder: Must be between 21 to 60 years of age for salaried individuals, and up to 65 years for self-employed individuals.
• Add-on Card Holder: Must be 18 years of age or above.
• Residency: Must be a resident of India.
• Note: The above criteria are indicative, and IDBI Bank reserves the right to approve or decline credit card applications.

Documents Required

• ID Proof: Passport / Driving License / Voter ID / Aadhaar Card / PAN card.
• Residence Proof: Electricity Bill / Telephone Bill / Election Card / Passport / Aadhaar Card.
• Income Proof: Latest 3 months’ Salary Slip / Latest 3 months’ Bank Statement / Income Tax Returns (ITR) / Form 16.
• Other: Recent Photograph.
• Note: This list is indicative, and required documents may vary on a case-to-case basis.

Card Review

The IDBI Aspire Platinum Credit Card is an entry-level card well-suited for beginners seeking rewards on everyday spending without incurring annual fees. It provides a solid value proposition by offering 2 Delight Points for every Rs. 150 spent across dining, shopping, and travel categories. Key advantages include a 1% fuel surcharge waiver, zero lost card liability, and no joining or renewal fees, making it an accessible option for those new to credit cards. With its broad acceptance both domestically and internationally, along with instant EMI and balance transfer facilities, it serves as a decent outlet for managing aspirational needs and daily expenditures. It has a rating of 4.5/5.

Important Product Details

• Positive Highlights:
  • Nil Joining, Annual, and Renewal Fees for primary and add-on cards.
  • Earn 2 Delight Points for every Rs. 150 spent on travel, shopping, dining, and movies.
  • Welcome benefits of up to 500 Delight Points on initial usage.
  • 1% fuel surcharge waiver (max Rs. 300 per month) on transactions between Rs. 400 and Rs. 4,000.
  • Interest-free credit period of up to 48 days on purchases.
  • Zero Lost Card Liability post reporting.
  • Wider acceptance at over 9 lakh merchants in India and 29 million abroad.
  • Provision for add-on cards for family members (18+ years) with pooled reward points.
  • Exclusive VISA Platinum offers including airport shopping, hotel, car rentals, and travel concierge services.
  • Instant EMI facility available for transactions of Rs. 3,000 and above, with no processing or foreclosure fees on EMI.
  • Balance Transfer facility available for Rs. 3,000 and above.
  • Nil Rewards Points Redemption Fee.
• Negative Highlights:
  • High interest rate on revolving credit facility (2.9% p.m. / 34.8% p.a.).
  • Significant late payment and over limit charges applicable.
  • Cash advance fee of 2.5% or Rs. 500, whichever is higher.
  • Foreign currency markup of 3.5%.

Other Details

• Customer Care: For assistance, call the 24-Hour Customer Care at 1800 425 7600 (Toll-free) or 022 - 4042 6013 (Call charges applicable).
• Credit Card Welcome e-Kit: A digitized e-Kit is provided to cardholders, containing detailed information on Card Usage, Cardholders Agreement, and Most Important Terms & Conditions (MITC) in downloadable PDF format. This is part of IDBI Bank’s "Go Green" initiative.
• How To Apply:
  • Get In Touch: Call Phone Banking numbers (Toll Free: 1800 425 7600, Non Toll Free: 022 4042 6013).
  • Visit Our Branch: Visit the nearest IDBI Bank branch.
  • Receive a Call Back: A bank representative will contact you at the earliest.
• Card Management Services:
  • Register your card for online payment services.
  • Manage standing instructions.
  • Utilize the Abhay - Card Control App for card management.
• Last Updated: 31 August, 2024.