IndusInd Nexxt Credit Card – Benefits, Fees & Eligibility

Introduction

The IndusInd Nexxt Credit Card, offered by IndusInd Bank, is positioned as India's first interactive credit card, providing a unique and hassle-free payment experience. This card stands out by allowing users to choose between EMI, Rewards, or Credit payment options directly at the point of sale via in-built LED buttons. Key differentiating benefits include exclusive welcome gift vouchers, a "Buy One Get One Free" offer on movie tickets, and a 1% fuel surcharge waiver.

Welcome Benefits

• As a welcome benefit, cardholders can select from various gift vouchers. Options include:
  • Oberoi
  • Luxe
  • Postcard Hotels
  • Montblac (watches, writing instruments, jewellery, leather goods, eyewear)
  • Vouchagram (discount vouchers from brands like Amazon, Flipkart, Zee5, Apollo Pharmacy, Uber, Ola)
  • Vouchagram Premium (discount vouchers from brands like Pantaloons, Bata, Raymond, Hush Puppies)
• These welcome gifts are available at select fee points only.

Fees

• Joining Fee: ₹10,000 + GST
• Annual Fee: Nil
• Spend-Based Waiver: Not applicable
• Rewards Redemption Fee: ₹100
• Foreign Currency Markup: 3.5% on the conversion amount
• Interest Rates:
  • 3.83% per month (finance charge)
  • 12% interest rate for EMI options chosen via the card's button (6, 12, 18, 24 months)
• Fuel Surcharge Waiver: Avail 1% fuel surcharge waiver on transactions between ₹400 – ₹4000 at any petrol pump across India.
• Cash Advance Charges: 2.5% or a minimum of ₹300

Rewards

• Rewards Rate: Earn 1 Reward Point for every ₹150 spent through this card.
• Exclusions: No reward points are accrued on fuel transactions.
• Movies & Dining:
  • Buy One Get One Free on BookMyShow movie tickets.
  • Cardholders can avail a maximum of 2 free movie discounts in a month.
  • The price of complimentary tickets is capped at ₹200 per ticket.
  • Offer valid on all theatres registered with BookMyShow across major cities.
• Travel Insurance:
  • Lost baggage: up to ₹100,000
  • 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
• Insurance Benefits:
  • Personal Air Accident cover up to ₹25 Lakhs.
  • "Total Protect" program covers fraudulent usage up to the credit limit, including add-on cards.
    • Covers unauthorized transactions up to 48 hours prior to reporting the loss/theft of the card.
    • Covers counterfeit fraud where card details are stolen and used to produce counterfeit plastic.
• Lifestyle & Auto Assist:
  • Nexxt Auto Assist includes roadside repair, emergency towing, medical assistance, and assistance for keys locked in.
• Interactive Payment Options:
  • The card features in-built LED buttons allowing selection of payment options at POS: EMI, Rewards, or Credit.
  • EMI Option: Choose between 6, 12, 18, and 24 months tenure at a 12% interest rate by pressing the EMI button.
  • Reward Points Option: Pay using accumulated reward points by pressing the Rewards button. A minimum of 500 reward points is required to use this option.
  • Credit Option: Functions as a regular credit card by pressing the Credit button.

Rewards Redemption Guide

• Redemption Channels:
  • Redeem earned reward points against various products/vouchers at IndusMoments.
  • Redeem reward points against cash credit at a rate of 1 Reward Point = ₹0.75.
  • Effective 1st September 2024, a maximum of 2,500 Reward Points can be redeemed against cash in a statement cycle (or per calendar month).
  • Redeem points for Airline Miles on Krisflyer.
  • 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.
  • Use the 'Pay with Rewards' button at POS for direct payment using accumulated points.
• Checking Reward Balance:
  • IndusMobile App: On the Credit Card Details page, click the ‘View’ link in the Reward Points section.
  • IndusAlerts: SMS RBALE <last 4 digits of card number> to 5676757.
• Reward points do not carry an expiration date.

Card Review

The IndusInd Nexxt Credit Card is a pioneering offering, ideal for individuals who appreciate innovative payment technology and seek flexibility in their transactions. Its interactive buttons for EMI, Rewards, and Credit options make it suitable for day-to-day purchases and those who want to manage their spending dynamically at the point of sale. While it carries a significant joining fee, the card offers substantial value through its welcome benefits, movie offers, comprehensive insurance covers (personal air accident, travel, and total protect against fraud), and a fuel surcharge waiver. The nil annual fee further enhances its long-term appeal. It's particularly beneficial for movie enthusiasts and those who value security and convenience in their credit card usage.

Important Product Details

• India’s first interactive credit card with in-built LED lights and payment buttons.
• Offers three payment options at POS: EMI, Rewards, and Credit.
• Exclusive welcome gift vouchers from premium brands like Oberoi, Luxe, Postcard Hotels, Montblac, and Vouchagram.
• Earn 1 Reward Point for every ₹150 spent (excluding fuel transactions).
• "Buy One Get One Free" movie tickets on BookMyShow, twice a month (capped at ₹200 per ticket).
• Personal Air Accident cover up to ₹25 Lakhs.
• Comprehensive travel insurance benefits for lost/delayed baggage, lost passport/ticket, and missed connections.
• 1% fuel surcharge waiver on transactions between ₹400 – ₹4000.
• "Total Protect" program covers fraudulent usage, including loss/theft and counterfeit fraud.
• Nil annual fee.
• High joining fee of ₹10,000 + GST.
• Rewards Redemption Fee of ₹100.
• Foreign currency markup of 3.5%.
• Maximum of 2,500 Reward Points can be redeemed against cash per month (effective Sep 2024).
• Discontinuation of Club Vistara Airmiles (Oct 2024) and InterMiles (Jan 2025) redemption options.
• Comes with a contactless feature for fast and secure payments.

Other Details

• The card works like a regular credit card for online transactions, using credentials printed on the back.
• For in-store transactions, press a button for the preferred option (EMI, Rewards, Credit); the corresponding LED light will illuminate for up to 6 minutes.
• The EMI and Rewards buttons are only for POS merchant outlets and do not apply to online, Moto, IVR, Samsung Pay, and ATM cash withdrawal transactions. For these, the standard credit option is considered.
• Merchant EMI through PoS requires pressing the credit button before authorizing the transaction, and the interest rate may differ from the standard 12% for the card's EMI button.
• Reward points do not carry an expiration date.
• The card is a chip-based contactless credit card, enabling fast, convenient, and secure everyday purchases by tapping at merchant locations.
• Can be used at over 10 lakh merchant outlets in India and over 30 million worldwide.
• Terms and Conditions for various benefits and features are available on the bank's website.