IndusInd Fortuna AdvantEdge Credit Card – Benefits, Fees & Eligibility

IndusInd Fortuna AdvantEdge Credit Card

Introduction

The IndusInd Fortuna AdvantEdge Card is meticulously designed for businesses, ranging from small startups to large corporations, aiming to streamline operations and significantly reduce administrative burdens. This card offers impressive cash back rewards on both everyday purchases and larger transactions, making it an invaluable tool for efficient expense management. With each use, cardholders benefit from enhanced security features and tangible financial perks that positively impact their bottom line. It stands out as a superior option compared to its counterpart, the Fortuna Prima credit card, by providing comprehensive features such as domestic airport lounge access, extensive insurance coverage including card liability and corporate liability waiver, a fuel surcharge waiver, and the unique ability to personalize the card with an embossed corporate name.

Welcome Benefits

• This card does not offer any welcome or milestone benefits.

Fees

• Joining Fee: ₹0 - ₹10,000 + GST
• Renewal Fee: ₹0 - ₹10,000 + GST
• Spend-Based Waiver: Not applicable
• Rewards Redemption Fee: Not applicable
• Foreign Currency Markup: 3.50%
• Interest Rates: Not applicable
• Fuel Surcharge: 1% waiver for fuel transactions between ₹500 and ₹10,000
• Cash Advance Charges: 3.35% from the date of withdrawal

Rewards

• Cashback:
  • Earn attractive cashback up to 1.10% on business expenses and retail purchases.
  • Cashback tiers are tailored to maximize returns as spending increases.
  • To be eligible for cashback, a minimum spend of ₹1 lakh is required during one billing cycle.
  • Transactions higher than ₹100 qualify for cashback, while transactions lower than ₹100 do not.
  • The maximum cashback earning potential is ₹30,000 in a single cashback cycle.
  • Cashback Tiers:
    • For spends up to ₹2.5 Lakhs: Regular MCC Cashback is 0.40%, Special MCC Cashback is 0.00%.
    • For spends between ₹2.5 Lakhs - ₹5 Lakhs: Regular MCC Cashback is 0.70%, Special MCC Cashback is 0.10%.
    • For spends between ₹5 Lakhs - ₹7.5 Lakhs: Regular MCC Cashback is 0.90%, Special MCC Cashback is 0.15%.
    • For spends between ₹7.5 Lakhs - ₹10 Lakhs: Regular MCC Cashback is 1.10%, Special MCC Cashback is 0.20%.
• Domestic Lounge:
  • Enjoy 2 complimentary domestic lounge visits every year at airports in India.
  • Lounge amenities include gourmet meals, comfortable seating, and free Wi-Fi, offering a relaxing environment before your journey.
• Insurance:
  • A comprehensive insurance package includes Card Liability Coverage up to INR 25,00,000.
  • Corporate Liability Waiver Insurance is also provided up to INR 25,00,000, offering protection against the risk of employee fraud.
• Fuel Surcharge Waiver:
  • Benefit from a 1% waiver of fuel surcharge at all fuel stations on transactions between INR 500 and INR 10,000.
• Movie & Dining: Not applicable.
• Travel: Not applicable.
• International Lounge: Not applicable.
• Golf: Not applicable.

Rewards Redemption Guide

• Earned cashback will be automatically credited to the cardholder's account.
• The maximum cashback of ₹30,000 earned in one cashback cycle will be automatically credited to the following month’s statement.

Card Review

The IndusInd Fortuna AdvantEdge Credit Card is an excellent choice for businesses looking for a robust financial tool with significant benefits. It offers a strong cashback program that rewards higher spending, providing up to 1.10% cashback on retail purchases. Travelers will appreciate the complimentary access to domestic airport lounges, which offer comfort and amenities. The card also helps businesses save on operational costs with a 1% fuel surcharge waiver. A notable feature is the ability to personalize the card with an embossed corporate name, enhancing professional identity. Furthermore, the comprehensive insurance package, covering both card liability and employee fraud, provides invaluable peace of mind. While it lacks welcome benefits and discounts on entertainment and dining, its core offerings make it a valuable asset for businesses focused on expense management and security.

Pros

• Personalized embossing with corporate names (up to 19 characters).
• Comprehensive insurance coverage of up to ₹25 lakhs for card liability and corporate liability waiver.
• Attractive cashback program with earnings up to 1.10% on retail purchases.
• Complimentary domestic airport lounge access.
• Fuel surcharge waiver on transactions between ₹500 and ₹10,000.

Cons

• No discounts on entertainment and dining.
• No welcome or milestone benefits.

Important Product Details

• Earn up to 1.10% cashback on retail purchases, directly credited to the cardholder’s account.
• Receive 2 complimentary domestic airport lounge visits annually.
• Benefit from a 1% fuel surcharge waiver on transactions between ₹500 and ₹10,000 at all fuel stations in India.
• Customization option for the card with 4th line embossing of the company's name, allowing up to 19 characters for personalization.
• Comprehensive insurance coverage, including Card Liability Coverage up to ₹25,00,000 and Corporate Liability Waiver Insurance up to ₹25,00,000, providing protection against employee fraud.
• The card does not offer any welcome or milestone benefits.
• No discounts are provided on entertainment and dining categories.
• A foreign currency markup of 3.50% applies to international transactions.
• Cash advance charges are 3.35% calculated from the date of withdrawal.

Other Details

• Card Customization (4th Line Embossing):
  • The corporate's identity can be represented on the card by embossing the company's name.
  • You can customize the card with the company name according to your preference, with a total of 19 characters available for personalization, including spaces and department names.
  • The corporate name, as specified on the application form, will be elegantly embossed on your IndusInd Bank Fortuna AdvantEdge Card.
• eStatements:
  • Customers will receive both individual and consolidated e-statements for comprehensive financial oversight.
  • Individual e-statements provide a detailed breakdown of transactions for each account or card.
  • Consolidated e-statements aggregate and summarize activity across multiple accounts or cards, offering a holistic view of overall financial performance.
  • These e-statements are delivered directly to customers for effective management and review.
• Consolidated Payments:
  • IndusInd Bank offers a "One Account, One Payment" solution to simplify reimbursement management for companies.
  • This service allows companies to make a single consolidated payment, which the bank then allocates to each employee’s individual card.
  • The total amount due will be clearly outlined in the Corporate Consolidated Statement, with the company responsible for making a single payment to the bank for the total amount.
• Dedicated Support:
  • Relationship Manager: A designated relationship manager for IndusInd Bank Commercial Cards is available to assist with any routine service inquiries or detailed product clarifications, providing professional and efficient support.
  • Customer Service: Dedicated 24*7 Customer Service officials are available to help in case of an emergency. You can contact them on the Toll Free Number 1860 267 7777 or write to corporate.cards@indusind.com.
• Application Information:
  • For further queries, clarifications, or to apply for an IndusInd Bank Commercial Card, you can reach out via email at corporate.cards@indusind.com or by calling the 24*7 Customer Service officials on their toll-free number 1860 267 7777.
• Availability of Documents: Detailed information regarding the card's features, terms, and conditions is available through various linked documents, including:
  • Benefit Guide
  • Most Important Terms & Conditions (MITC)
  • Key Facts Sheet
  • Safety Tips on your Corporate Card
  • Cardholders' Agreement
  • Code of Bank's Commitment to Customers
  • Cashback Terms & Conditions
  • List of Applicable Lounges
  • Insurance Policy Terms & Conditions
  • Payment Terms & Conditions