IDBI Aspire Platinum Credit Card – Benefits, Fees & Eligibility

Introduction

The IDBI Aspire Platinum Credit Card, issued by IDBI Bank, is positioned as an entry-level card designed for individuals seeking rewards and convenience across various aspects of life. It offers best-in-class privileges in travel, dining, and lifestyle. Key differentiating benefits include earning 2 Delight Points for every Rs 150 spent, a waiver on fuel surcharges, and zero lost card liability, all while coming with no joining or renewal fees.

Welcome Benefits

• Earn 500 Delight Points on the first usage of the card for transactions worth Rs 1,500 or more within 30 days of card issuance.
• Alternatively, earn 300 Delight Points on usage for transactions worth Rs 1,500 or more between 31 to 90 days from the card issuance date.

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 (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):
  • Less than or equal to Rs 500: Nil
  • Greater than Rs 500 to less than or equal to Rs 5,000: Rs 400
  • Greater than Rs 5,000 to less than or equal to Rs 10,000: Rs 500
  • Greater than Rs 10,000 to less than or equal 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 Transactions (Cross Currency Mark-up): 3.5% on the conversion amount.
• Rewards Points Redemption Fee: Nil
• EMI Charges:
  • Minimum Amount: 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 rate for EMI will apply.
• Card Account Closure Charge: Nil
• All charges mentioned are exclusive of applicable GST.

Rewards

• Reward Points: Earn 2 Delight Points for every Rs 150 spent on shopping, dining, traveling, and watching movies.
  • Delight points accrue on most transactions, except for specific exempted categories.
• Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge waiver on transactions between Rs 400 to Rs 4,000 at all fuel stations.
  • Maximum waiver of up to Rs 300 per month/statement cycle.
• Wider Acceptance: The card is accepted at over 9 lakh merchants in India and over 29 million merchants abroad.
• Zero Lost Card Liability: In case of card loss, report it immediately to the 24-Hour Customer Care. Any fraudulent transactions after reporting the loss will be covered by the bank.
• Family Cards (Add-on Cards): Gift add-on cards to family members (above 18 years) to avail all primary card benefits. Delight Points earned on add-on cards are clubbed with the primary card's points for redemption.
• VISA Offers: Eligible for exclusive offers provided by VISA for Platinum cardholders, including airport shopping, hotel, and car rentals. Customers can also enjoy travel concierge services. These offers are subject to change by VISA.
• Instant EMI Facility: Convert transactions of Rs 3,000 or more into EMIs with tenure options of 3, 6, 9, or 12 months. Reward points can be earned on transactions converted into EMI.

Rewards Redemption Guide

• Delight Points can be redeemed for a wide array of gift vouchers, offering various lifestyle benefits.
• Points accumulated can also be redeemed for cashback.
• There is no fee for rewards points redemption.

Card Eligibility Criteria

Eligibility Rules

• Primary cardholder age: 21 to 60 years (salaried employee) or 21 to 65 years (self-employed).
• Add-on cardholder age: 18 years and above.
• Applicant must be a resident of India.

Documents Required

• ID Proof: Voter ID, Passport, Driving License, PAN card, or Aadhaar Card.
• Residence Proof: Electricity Bill, Telephone Bill, Election Card, Passport, or Aadhaar Card.
• Income Proof: Latest 3 months’ Salary Slip, Latest 3 months Bank Statement, Income Tax Returns (ITR), or Form 16.

Card Review

The IDBI Aspire Platinum Credit Card is an entry-level offering from IDBI Bank, well-suited for individuals new to credit cards. It provides exciting rewards on everyday spending categories like dining, shopping, and travel, with 2 Delight Points for every Rs 150 spent. A significant advantage is the absence of any joining or renewal fees, making it an accessible option for beginners. Its benefits, including a fuel surcharge waiver and zero lost card liability, add to its appeal as a decent choice for those starting their credit card journey.

Important Product Details

• Positive Highlights:
  • No Joining Fee, Annual Fee, or Renewal Fee.
  • Earn 2 Delight Points for every Rs 150 spent on shopping, dining, and travel.
  • Attractive welcome benefits of up to 500 Delight Points.
  • 1% fuel surcharge waiver (maximum Rs 300 per month).
  • Zero Lost Card Liability protection.
  • Wide acceptance in India and abroad.
  • Provision for add-on cards for family members.
  • Exclusive VISA Platinum offers and travel concierge services.
  • Instant EMI facility available for transactions of Rs 3,000 and above.
  • Nil rewards points redemption fee.
• Negative Highlights:
  • Foreign currency markup of 3.5%.
  • Interest rate on revolving credit facility is 2.9% per month.
  • Cash advance charges apply.
  • Various other fees for late payments, over limit, cheque returns, etc.

Other Details

• Enjoy interest-free credit for up to 48 days on purchases.
• The bank provides a digital Credit Card Welcome e-Kit, which includes detailed information on Card Usage, Cardholders Agreement, and Most Important Terms & Conditions (MITC) in downloadable PDF format.
• How to Apply:
  • Call Phone Banking numbers: Toll-Free 1800-209-4324 or Non-Toll Free 022-67719100 (24x7 service).
  • Visit the nearest IDBI Bank branch.
  • Request a call back from a bank representative.
• The eligibility criteria mentioned are indicative, and the bank reserves the right to approve or decline credit card applications.
• The list of required documents is indicative and may vary on a case-to-case basis.