IndusInd Bank Platinum Aura Edge Credit Card – Benefits, Fees & Eligibility

Introduction

The IndusInd Bank Platinum Aura Edge Credit Card is an entry-level, lifetime free credit card offered by IndusInd Bank. It stands out by providing cardholders the flexibility to choose from four distinct reward plans—Shop, Home, Travel, and Party—tailored to different spending behaviors. Cardholders can earn up to 4 savings points on every ₹100 spent on select categories, with a favorable redemption rate where 1 point equals ₹0.40. Additionally, the card features contactless payment technology and a 1% fuel surcharge waiver, making it a versatile option for everyday use.

Welcome Benefits

• Potential discount vouchers from various brands like Amazon, Flipkart, Big Bazaar, Zee5, Apollo Pharmacy, Uber, and Ola via Vouchagram or Vouchagram Premium.
• Note: Welcome gift is applicable only on select fee plans.

Fees

• Joining Fee: Nil
• Annual Fee: Nil
• Rewards Redemption Fee: ₹100 on every redemption.
• Foreign Currency Markup: 3.5% on all foreign currency transactions.
• Interest Rates: 3.95% per month (47.40% per annum).
• Fuel Surcharge Waiver: 1% waiver on all fuel transactions between ₹400 and ₹4,000 at all fuel stations in India.
• Cash Advance Charges: 2.5% of the withdrawn amount, subject to a minimum of ₹300.

Rewards

• Reward Earning:
  • Earn up to 8X Reward Points on select merchant categories, with specific plans offering up to 4 savings points on every ₹100 spent.
  • 1 savings point is equivalent to ₹0.50 or 0.5 airline mile.
  • Fuel transactions will not accrue reward points (effective 1st April 2018).
• Reward Plans: Cardholders can choose one of the following plans to maximize their savings points:

  • Shop Plan

    • 4 savings points per ₹100 spent on shopping in departmental stores.
    • 2 savings points per ₹100 spent on purchase of consumer durables or electronic items.
    • 1.5 savings points per ₹100 spent on restaurant bills and books.
    • 0.5 savings points per ₹100 spent on all other categories.

  • Home Plan

    • 4 savings points per ₹100 spent on grocery shopping.
    • 1.4 savings points per ₹100 spent on cellphone bills, electricity bills, and insurance premium (revised effective 1st August 2019).
    • 1.5 savings points per ₹100 spent on medical spends.
    • 0.5 savings points per ₹100 spent on all other categories.

  • Travel Plan

    • 4 savings points per ₹100 spent on hotel expenses.
    • 2.5 savings points per ₹100 spent on airline tickets.
    • 1.5 savings points per ₹100 spent on car rental expenses and rail tickets.
    • 0.5 savings points per ₹100 spent on all other categories.

  • Party Plan

    • 4 savings points per ₹100 spent on restaurant bills.
    • 2 savings points per ₹100 spent on shopping in departmental stores and payments in bars and pubs.
    • 1.5 savings points per ₹100 spent on movie tickets.
    • 0.5 savings points per ₹100 spent on all other categories.
• Insurance Benefits:

  • Travel Insurance Cover

    • Provided in association with The Oriental Insurance Company Ltd. under the Travel Plus Program.
    • Lost baggage: Up to ₹1,00,000
    • Delayed baggage: Up to ₹25,000
    • Loss of passport: Up to ₹50,000
    • Lost ticket: Up to ₹25,000
    • Missed connection: Up to ₹25,000

  • Total Protect

    • Covers fraudulent use of the card up to the credit limit of your primary and add-on cards.
    • Unauthorized transactions in case of loss/theft of card: Provides insurance cover up to 48 hours prior to reporting the loss of your card to IndusInd Bank.
    • Counterfeit fraud: Offers insurance protection against incidents where your card or its details are stolen and used to produce counterfeit plastic.
• Zero Liability Protection: You receive zero liability protection against a lost or stolen card, meaning you will not be responsible for any fraudulent transactions made on the card if the loss is reported to the bank within 48 hours.

Rewards Redemption Guide

• Savings points can be redeemed against the statement balance at a rate of 1 savings point = ₹0.40.
• A maximum of 2,500 Reward Points can be redeemed each statement cycle. Effective 1st September 2024, this maximum limit applies per calendar month for cash redemption.
• Other redemption options include:
  • IndusMoments
  • Pay with Rewards
  • Airline Miles on Krisflyer
• Important Notices:
  • Reward Points redemption towards Club Vistara Airmiles on www.indusmoments.com will be discontinued effective 31st October 2024.
  • Reward Points redemption towards InterMiles will be discontinued effective 21st January 2025.

Card Review

The IndusInd Bank Platinum Aura Edge Credit Card is an exclusive entry-level, lifetime free credit card that empowers users to earn reward points tailored to their spending habits. It is a strong choice for individuals seeking to maximize savings across various categories without incurring annual fees.

• Pros:
  • Lifetime Free: No joining or annual charges, making it a cost-effective option.
  • Customizable Rewards: Offers four flexible reward plans (Shop, Home, Travel, Party) allowing cardholders to choose the plan that best suits their lifestyle and spending patterns.
  • High Earning Potential: Earn up to 4 savings points per ₹100 spent on specific categories, with a general claim of up to 8X reward points.
  • Good Redemption Value: Points can be redeemed against statement balance at a competitive rate of 1 savings point = ₹0.40.
  • Comprehensive Insurance: Includes valuable Travel Insurance coverage for lost baggage, delayed baggage, loss of passport, lost tickets, and missed connections, as well as "Total Protect" against unauthorized transactions and counterfeit fraud.
  • Fuel Surcharge Waiver: Provides a 1% waiver on fuel transactions within a specified range.
  • Contactless Payments: Equipped with a contactless feature for fast, convenient, and secure transactions.
  • Zero Liability Protection: Offers peace of mind against fraudulent use of a lost or stolen card.
• Cons:
  • No Lounge Access: The card does not provide any complimentary domestic or international airport lounge access.
  • Redemption Fee: A fee of ₹100 is charged for every rewards redemption.
  • Foreign Currency Markup: A 3.5% foreign currency markup applies to international transactions.
  • Cash Advance Charges: High charges for cash withdrawals.
  • No Rewards on Fuel: Fuel transactions do not accrue reward points.
• Who should apply: This card is ideal for individuals looking for a lifetime free credit card that offers significant savings benefits through a customizable rewards program. It is particularly well-suited for those who can align their major spending categories with one of the four available plans (e.g., frequent shoppers, home managers, travelers, or those who dine out and enjoy entertainment) to maximize their reward point accumulation.

Important Product Details

• A lifetime free credit card with zero joining and annual charges.
• Offers the convenience of choosing a rewards plan (Shop, Home, Travel, Party) according to individual spending behavior.
• Earn up to 4 savings points on every ₹100 spent on select categories.
• Reward points can be redeemed against statement balance at a rate of 1 savings point = ₹0.40.
• Includes a 1% fuel surcharge waiver on transactions between ₹400 and ₹4,000 at all fuel stations in India.
• Provides Zero Liability Protection against fraudulent transactions on a lost or stolen card if reported within 48 hours.
• Features comprehensive Travel Insurance and "Total Protect" for enhanced security against fraudulent card usage.
• Equipped with a chip-based contactless feature for fast, convenient, and secure purchases.
• Does not offer any complimentary domestic or international lounge access.
• A rewards redemption fee of ₹100 is applicable on every redemption.
• Fuel transactions do not accrue reward points.

Other Details

• The IndusInd Bank Platinum Aura Edge Credit Card is a chip-based contactless Visa and Mastercard Credit Card.
• Credit Limit: The initial credit limit typically ranges between ₹30,000 and ₹1.5 lakhs, influenced by factors such as past payment behavior, credit score, and income. Cardholders with an excellent credit score may receive a higher limit and can also apply for a higher credit limit by contacting customer care, using internet banking, or visiting a branch.
• Card Activation & PIN Generation:
  • Through IndusInd Bank internet banking (IndusNet website) or the IndusInd Bank mobile app, under the ‘Cards’ section.
  • By contacting credit card customer care for assistance.
• Bill Payment Methods:
  • Online via your IndusInd Bank internet banking account.
  • Via NEFT from an account in any other bank.
  • Through mobile wallet-based applications such as Paytm, PhonePe, etc.
  • Offline by visiting your nearest IndusInd Bank branch and paying via cash or cheque.
• Billing Cycle: Monthly credit card statements are dispatched to your registered email ID and are also accessible via Net Banking (IndusNet) and the Mobile Banking App (IndusMobile).
• Product Feature Revisions: Certain product features were revised effective 30th November 2021. The Rewards program was revised for select merchant categories effective 1st August 2019.