IndusInd Bank Platinum Credit Card – Benefits, Fees & Eligibility

IndusInd Bank Platinum Credit Card

The IndusInd Bank Platinum Credit Card is designed to cater to individuals seeking a comprehensive lifestyle card, offering an extensive array of benefits across travel, shopping, and insurance. This card provides a generous reward rate on all spends, with accumulated points that can be redeemed for cash, air miles, or a variety of vouchers. Cardholders also benefit from significant insurance coverage, including travel and personal accident protection, alongside fuel surcharge waivers, making it a well-rounded option for everyday luxury and security.

Welcome Benefits

Welcome benefits are applicable only on a select fee plan. Cardholders can choose from exclusive vouchers and experiences:

Montblanc

• Experience Montblanc, a brand renowned for its commitment to excellence and fine craftsmanship since 1906.
• Choose from an exquisite collection including watches, writing instruments, jewellery, leather goods, and eyewear.
• Montblanc stores are located in 6 cities across the country, with a total of 12 outlets.

The Postcard Hotel

• Access a collection of intimate luxury hotels nestled in holiday destinations across India.
• Combine luxury with simplicity for a truly desired retreat experience.
• Reservations can be made by contacting +91 7999555222 or via email at sales@postcardresorts.com.

Vouchagram

• Enjoy various discount vouchers from multiple brands such as Amazon, Flipkart, Zee5, Apollo Pharmacy, Uber, Ola, and more.
• The list of participating brands is subject to change at the discretion of the Bank and Vouchagram.

Vouchagram Premium

• Access a premium selection of discount vouchers from a wide array of brands, offering even more choices.
• The brands available are subject to change at the discretion of the Bank and Vouchagram.

Fees

• Joining Fee: Nil
• Renewal Fee: Nil
• Rewards Redemption Fee: Rs. 100
• Foreign Currency Markup: 3.5% of the transacted amount.
• Interest Rates: 3.83% per month (equivalent to 46% per annum).
• Fuel Surcharge:
  • A 1% fuel surcharge waiver is available.
  • This waiver applies to transactions between Rs. 400 and Rs. 4,000 at any petrol pump within India.
  • An illustrative example suggests monthly savings of Rs. 20 for a monthly fuel usage of Rs. 2,000, leading to annual savings of Rs. 240.
• Cash Advance Charges: Rs. 300 or 2.5% of the amount withdrawn, whichever is higher.

Rewards

The IndusInd Bank Platinum Credit Card provides a host of benefits designed to enhance travel, dining, and shopping experiences with world-class privileges.

• Earning Reward Points:
  • Earn 1.5 Reward Points for every ₹150 spent on general purchases.
  • Earn 1.2 Reward Points for every ₹150 spent on select merchant categories, including utility bill payments and insurance premium payments.
  • Fuel transactions do not accrue reward points (effective from 1st April 2018).
• Travel Insurance Cover:
  • IndusInd Bank has partnered with The Oriental Insurance Company Ltd. to provide cardholders with comprehensive travel insurance. Coverage includes:
    • Lost baggage: Up to INR 1,00,000
    • Delayed baggage: Up to INR 25,000
    • Loss of passport: Up to INR 50,000
    • Lost ticket: Up to INR 25,000
    • Missed connection: Up to INR 25,000
• Total Protect (Fraud Protection):
  • A first-of-its-kind program that covers fraudulent usage up to the credit limit on your card, also applicable to add-on cards.
  • Covers unauthorised transactions in case of card loss/theft for up to 48 hours prior to reporting the loss to IndusInd Bank.
  • Provides insurance against counterfeit fraud, protecting you if your card or card details are stolen and used to produce counterfeit plastic.
• Air Accident Coverage:
  • Receive a complimentary personal air accident insurance cover of up to INR 25 lakh.
• Concierge Services:
  • Enjoy 24x7 concierge services.
  • Complimentary access to Auto Assist services, which include roadside repair, emergency fuel supply, and emergency towing assistance.

Rewards Redemption Guide

The card offers flexible redemption options tailored to provide maximum benefit.

• Redemption Channels:
  • Redeem your reward points by visiting www.indusmoments.com and placing a request for your preferred option.
  • Utilize the "Pay with Rewards" option.
  • Convert your reward points into Airline Miles, including Krisflyer.
  • Opt for cash credit to settle your outstanding credit card bill dues.
• Reward Point Value:
  • Effective from 1st March 2024, the value for non-cash redemptions (excluding air miles) is 1 Reward Point = Rs. 0.60.
  • Effective from 1st March 2024, the value for cash redemptions is 1 Reward Point = Rs. 0.40.
• Cash Redemption Limit:
  • Effective 1st September 2024, the maximum reward points allowed for cash redemption is limited to 2500 per calendar month.
• Discontinuation Notices:
  • Reward Points Redemption towards Club Vistara Airmiles on www.indusmoments.com will be discontinued effective 31st October 2024.
  • Reward Points redemption towards InterMiles for your IndusInd Bank Credit Card will be discontinued effective 21st January 2025.

Card Review

The IndusInd Bank Platinum Credit Card is specifically designed for millennials and individuals who appreciate shopping from premium brands. It offers a rich array of benefits focusing on apparel and luxury items such as jewelry and watches. A distinguishing feature of this card is the provision of a personal air accidental insurance cover of Rs. 25 Lakhs, which is not typically offered by other shopping-centric credit cards. Considering its extensive range of benefits from shopping to insurance, the Platinum Credit Card by IndusInd Bank presents itself as a valuable lifestyle card worth serious consideration.

Important Product Details

• Earn 1.5 reward points for every ₹150 spent on the card (except on fuel transactions).
• Earn 1.2 reward points on every ₹150 spent on utility bill payments and insurance premium payments.
• Enjoy a complimentary personal air accidental death cover of up to ₹25 lakh.
• Benefit from a 1% fuel surcharge waiver on transactions between Rs. 400 and Rs. 4,000 at all fuel stations in India.
• Access 24x7 concierge services and auto assist features.
• Welcome benefits include choices from Montblanc, The Postcard Hotel, Vouchagram, and Vouchagram Premium vouchers, applicable on a select fee plan.
• Comprehensive travel insurance includes coverage for lost baggage, delayed baggage, loss of passport, lost ticket, and missed connection.
• The Total Protect program provides insurance cover for unauthorized transactions in case of card loss/theft and counterfeit fraud.
• The card comes with Nil joining and renewal fees.
• A reward redemption fee of Rs. 100 applies.
• Foreign currency transactions incur a markup of 3.5% of the transacted amount.
• Interest is charged at 3.83% per month (46% per annum) on overdue amounts.
• Cash advance charges are Rs. 300 or 2.5% of the amount withdrawn, whichever is higher.
• The BookMyShow offer on this card was discontinued effective 1st October 2022.
• No specific movie and dining benefits are currently offered; previous offers expired on 31st March 2021.
• Golf benefits are not extended to add-on card members.

Other Details

• Application Process: You can apply for the Platinum Visa Credit Card online on the IndusInd Bank website through a simple 3-step process:
  • Input your basic details.
  • The bank will assess your details and present the best offer available for you.
  • Complete the application by signing digitally and performing an instant V-KYC.
• Discontinued Offers:
  • The BookMyShow offer on IndusInd Bank Platinum Credit Card and IndusInd Platinum Select Credit Card was discontinued effective 1st October 2022.
  • Previous movie and dining offers associated with the card were valid until 31st March 2021, and no such benefits are currently provided.
• Golf Benefits: Golf benefits are not available for add-on members.