IndusInd Bank ePay Amex Credit Card – Benefits, Fees & Eligibility

Introduction

The IndusInd Bank ePay Amex Credit Card ushers in a new era of digital payment experiences, launched in association with American Express. This virtual credit card prioritizes security, allowing for easy digital payments without the need to physically carry a card. It offers a unique transaction-based rewards program where earning potential increases with the number of transactions per statement cycle, reaching up to 10 Reward Points per transaction after the 10th spend. Cardholders can also benefit from a complimentary 3-month Zomato Gold Membership as a welcome perk and a 5% annual cashback on early payment of their total outstanding amount. Additionally, loyal users can earn 2X Reward Points in their anniversary year, and a Times Prime Membership can be unlocked with sufficient annual spending.

Welcome Benefits

• Complimentary 3-Month Zomato Gold Membership. This is a one-time benefit provided during the first year of card membership.
  • Unlimited free delivery on all orders with a minimum order value of Rs. 199.
  • On-time guaranteed delivery.
  • Up to 30% extra off on online orders.
  • VIP access during rush hour.
  • Up to 40% off on dining partner restaurants across India.
  • Access to Zomato Legends.
• Zomato Gold Membership Enrollment Process:
  • Download the Zomato App.
  • Go to your profile.
  • Go to Zomato Gold.
  • Click on "Apply coupon code".
  • Enter the code received through email/SMS and click on "Apply".
  • Click on "Join Gold Now".
• The activation codes for Zomato Gold are valid for a period of 30 days from the date of communication.
• The membership validity is 3 months from the date of activation of the code.
• The membership will not be extended or renewed under any circumstances.

Fees

• Joining Fee: Nil
• Renewal Fee: Nil
• Spend-Based Waiver: N/A
• Rewards Redemption Fee: N/A
• Foreign Currency Markup: 3.5% of the Transaction Amount
• Interest Rates: 3.95% Per Month (47.40% Per Annum)
• Fuel Surcharge: N/A
• Cash Advance Charges: N/A

Rewards

Unique Transaction-Based Rewards Program

• Earn up to 10 Reward Points on each transaction with a minimum transaction value of Rs. 500.
• Reward Points per transaction in a statement cycle (minimum transaction value of INR 500):
  • 1st to 4th transaction: Earn 4 Reward Points on each transaction.
  • 5th to 10th transaction: Earn 8 Reward Points on each transaction.
  • Beyond the 10th transaction: Earn 10 Reward Points on each transaction.

Loyalty Bonus Rewards Program

• Keep your ePay Card active for 11 months, and get 2X Reward Points on all your spends done in the 12th month within an anniversary year.
• To be eligible, make at least 1 transaction each month for 11 consecutive months with a minimum transaction value of Rs. 500.
• 2X Reward Points per transaction in the 12th month (minimum transaction value of INR 500):
  • 1st to 4th transaction: Earn 8 Reward Points on each transaction.
  • 5th to 10th transaction: Earn 16 Reward Points on each transaction.
  • Beyond the 10th transaction: Earn 20 Reward Points on each transaction.

Spend-Based Benefits

• Times Prime Membership: Spend Rs. 2 lakhs in an anniversary year and get a 1-year Times Prime Membership worth Rs. 1199.
  • The membership can be activated by downloading the app and entering the voucher code received via SMS or e-mail.

Cashback Benefits

• Early Payment Cashback: Get 5% cashback annually every time on payment of the total due amount within 7 days of statement generation.

Insurance Benefits

• Total Protect Program: Covers you for an amount equal to the credit limit on your card, aiming to make cashless transactions safe and secure.
• Counterfeit Fraud Protection: Insurance to protect against card or card details being stolen and misused to produce counterfeit cards.
• Air Accident Cover: Complimentary personal air accident insurance cover of up to Rs. 1,00,000.

Other Rewards and Benefits

• Movies & Dining: Includes 3-Month Zomato Gold Membership.
• Travel: N/A
• Domestic Lounge Access: N/A
• International Lounge Access: N/A
• Golf: N/A

Rewards Redemption Guide

• Reward Points can be redeemed as cash credit, Airmiles, flight booking, hotel booking, and more.
• 1 Reward Point = ₹ 0.35 (Cash Credit).
• 3 Reward Points = 1 Airmile.
• Reward Points are redeemable through IndusMoments: www.indusmoments.com.
• Accelerated Reward Points will be credited in the next statement cycle.
• Important Notice: Reward Points redemption towards InterMiles for your IndusInd Bank Credit Card will be discontinued effective 21st January, 2025.

Card Review

The IndusInd Bank ePay Amex Credit Card is a virtual credit card designed for digital payment experiences. It offers an appealing welcome benefit of a 3-Month Zomato Gold Membership and a unique reward structure that incentivizes more transactions. While it provides good earning potential for active users, the cash credit redemption value is relatively low, and it lacks complimentary lounge access.

Pros

• The reward point earning structure is progressive; with a higher number of successful transactions in a statement cycle, cardholders earn more reward points, reaching 10 RPs after the 10th transaction.
• Cardholders receive a complimentary 3-Month Zomato Gold membership, offering significant benefits for food delivery and dining.
• The card offers a 5% cashback for early payment of the total outstanding amount.
• Loyalty-based rewards provide 2X Reward Points for consistent usage over 11 months.
• It is a lifetime free card with Nil joining and renewal fees.

Cons

• One Reward Point is equivalent to Rs. 0.35 when redeemed for cash credit, which is considered a relatively low value.
• The card does not offer any complimentary lounge access, either domestic or international.
• This is a virtual-only card; no physical card is issued.

Important Product Details

• This is a virtual credit card, enhancing security by eliminating the need to physically carry it.
• The card is lifetime free, with no joining or renewal charges.
• It features a unique transaction-based rewards program where reward points per transaction increase after a certain number of transactions within a statement cycle.
• A complimentary 3-Month Zomato Gold membership is provided as a welcome benefit.
• Cardholders can earn 2X Reward Points on all spends in the 12th month of an anniversary year by being active for the preceding 11 months.
• A 1-year Times Prime Membership can be earned on annual spends of Rs. 2 lakh.
• An annual 5% cashback is offered for early payment of the total outstanding amount within 7 days of statement generation.
• The card includes a 'Total Protect' insurance program, offering coverage for counterfeit fraud and a complimentary personal air accident insurance cover of up to Rs. 1,00,000.

Other Details

• The maximum number of Reward Points a cardholder can earn in a statement cycle is capped up to the credit limit on the card.
• Queries can be directed to priority.care@indusind.com.
• The card cannot be upgraded to other variants as it is a virtual card.