IndusInd Nexxt Credit Card – Benefits, Fees & Eligibility

IndusInd Nexxt Credit Card

Introduction

The IndusInd Nexxt Credit Card is India's first interactive credit card, featuring in-built LED lights and buttons that provide absolute flexibility for payments at Point-of-Sale (POS). This unique card empowers users to seamlessly switch between three payment options-EMI, Rewards, and Credit-directly at their favorite stores, ensuring swift, secure, and convenient transactions. Beyond its innovative payment mechanism, the card offers a competitive reward rate of 1 point for every ₹150 spent, alongside attractive lifestyle benefits such as complimentary movie tickets and a waiver on fuel surcharges. It also includes comprehensive insurance covers and exclusive welcome gifts, making it a versatile choice for everyday purchases and travel.

Welcome Benefits

• Gift Vouchers: Cardholders can select from a range of exclusive gift vouchers.
• Montblanc: Experience the esteemed Montblanc brand, with choices from its exquisite collection of watches, writing instruments, jewellery, leather goods, and eyewear, available at 12 stores across 6 cities.
• The Postcard Hotel: Enjoy stays at intimate luxury hotels situated in picturesque holiday destinations across India.
• Vouchagram: Access various discount vouchers from popular brands such as Amazon, Flipkart, Zee5, Apollo Pharmacy, Uber, and Ola.
• Vouchagram Premium: Benefit from discount vouchers from premium brands including Pantaloons, Bata, Raymond, and Hush Puppies.
• Please note: Welcome gifts are applicable only on select fee plans. For details on eligible charges, cardholders should contact phone banking services or a sales representative.

Fees

• Joining Fee: ₹10,000 + GST
• Renewal Fee: Nil
• Rewards Redemption Fee: ₹100
• Foreign Currency Markup: 3.5% on the conversion amount.
• Interest Rates: 3.83% per month (for standard credit option).
• EMI Option Interest Rate (via card button): 12% per annum. The bank may change this interest rate at its sole discretion, with prior notification to the cardholder.
• Fuel Surcharge Waiver: 1% waiver on fuel surcharge at any petrol pump across India, applicable on transactions between ₹400 - ₹4,000.
• Cash Advance Charges: 2.5% of the advanced amount or a minimum of ₹300, whichever is higher.

Rewards

• General Rewards Earning:
  • Earn 1 Reward Point for every ₹150 spent on your IndusInd Nexxt Credit Card.
  • No reward points are accrued on fuel transactions.
• Movies:
  • Buy One Get One Free: Receive one complimentary movie ticket when you purchase one via BookMyShow.
  • Monthly Benefit: Cardholders can avail up to 2 free movie tickets in a calendar month.
  • Ticket Cap: The price of the complimentary ticket is capped at ₹200. If the ticket price exceeds ₹200, a discount of ₹200 will be applied, and the remaining balance must be paid by the cardholder using their IndusInd Bank Credit Card.
  • Availability: Offer is valid at all theatres registered with BookMyShow across major cities.
• Fuel:
  • Surcharge Waiver: Enjoy a 1% waiver on fuel surcharge at any petrol pump across India.
  • Transaction Limit: This waiver is applicable on fuel transactions ranging from ₹400 to ₹4,000.
  • Estimated Annual Savings: An illustrative annual saving of ₹240 is possible (based on monthly fuel usage of ₹2,000).
• Insurance:

  Travel Insurance

  • Provided in partnership with The Oriental Insurance Company Ltd., offering comprehensive cover for various travel inconveniences:
    • 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

  Total Protect

  • A unique program providing insurance cover up to the credit limit on your card, also extended to add-on cards, against fraudulent usage:
    • Unauthorized Transactions: Covers transactions made up to 48 hours prior to reporting the loss or theft of your card to IndusInd Bank.
    • Counterfeit Fraud: Protection against instances where your card or card details are stolen and used to create counterfeit plastic.

  Personal Air Accident Cover

  • Receive a complimentary Personal Air Accident Insurance cover of up to ₹25 lakh.
• Nexxt Payment Privileges (Interactive Card Features at POS):

  • EMI Option

    • To pay using EMI, press the EMI button on the card until your desired tenure illuminates (options for 6, 12, 18, or 24 months) before authorizing the transaction.
    • The standard interest rate for this option is 12% per annum.

  • Reward Points Option

    • To pay using accumulated reward points, press the Rewards button on the card before authorizing the transaction.
    • Transaction approval is contingent on the available credit limit.
    • Accumulated reward points will be deducted against the value of the transaction within 2 working days of settlement.
    • A minimum of 500 reward points is required to use this option.

  • Credit Option

    • Press the Credit button if you wish to proceed with a standard credit payment, functioning like a regular credit card.
• Annual Estimated Savings (Illustrative based on hypothetical expenses):
  • Movie tickets: ₹4,800
  • Fuel Surcharge Savings: ₹480
  • Annual value of Reward Points: ₹1,800 (based on an average spend of ₹30,000 per month, earning 200 points per month)
  • Total Estimated Savings: ₹7,080

Rewards Redemption Guide

• Interactive Card Redemption: Utilize the "Rewards" button on your Nexxt Credit Card to pay for purchases directly with your accumulated points at Point-of-Sale (POS).
• IndusMoments: Redeem your earned reward points against a wide array of products and vouchers available on www.indusmoments.com.
• Pay with Rewards: Use your reward points for various payment options.
• Airline Miles on Krisflyer: Redeem points for Krisflyer airline miles (subject to discontinuation).
• Cash Credit:
  • Redeem reward points against cash credit at a value of 1 Reward Point = ₹0.75.
  • Monthly Cap: Effective 1st September 2024, the maximum reward points allowed for cash redemption is 2,500 per calendar month.
• Minimum Points for 'Pay by Rewards': A minimum balance of 500 reward points is required to use the ‘Pay by Rewards’ option.
• Point Expiration: Reward points earned on the IndusInd Nexxt Credit Card do not carry an expiration date.
• Important Notices regarding Discontinuation of Redemption Options:
  • 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.
• Program Revisions: From 1st August 2019, the Rewards program has been revised for select merchant categories.

Card Review

The IndusInd Nexxt Credit Card is a pioneering and visually striking offering, largely owing to its interactive design featuring built-in LED lights and physical buttons that allow users to select payment options (EMI, Rewards, or Credit) directly at the Point-of-Sale. This innovative feature significantly enhances the user experience by simplifying transaction choices and providing immediate payment flexibility, making it particularly well-suited for everyday purchases at retail outlets. While it comes with a joining fee of ₹10,000 + GST, the absence of a renewal fee can translate into long-term value for cardholders.

The card delivers a respectable reward rate of 1 point for every ₹150 spent, complemented by substantial lifestyle benefits. These include two complimentary movie tickets (up to ₹200 each) per month on BookMyShow and a 1% fuel surcharge waiver on transactions within the ₹400-₹4,000 range. Furthermore, it incorporates robust insurance coverage such as 'Total Protect' against fraudulent usage and a personal air accident cover of up to ₹25 lakh. This card is an excellent choice for individuals who appreciate cutting-edge technology in their financial tools and desire flexibility in managing their payments, especially those who frequently make in-store purchases and value the ability to convert transactions to EMIs or redeem rewards instantly. Its premium look and interactive functionality set it apart in the market.

Important Product Details

• India's first interactive credit card, featuring in-built LED lights and buttons for flexible payment options at POS.
• Offers three distinct payment choices at Point-of-Sale: EMI, Reward Points, or Credit.
• Earn 1 Reward Point for every ₹150 spent.
• No reward points are accrued on fuel transactions.
• Receive two complimentary movie tickets (up to ₹200 each) every month via a 'Buy One Get One Free' offer on BookMyShow.
• Benefit from a 1% fuel surcharge waiver at any petrol pump across India, applicable on transactions between ₹400 and ₹4,000.
• Includes 'Total Protect' insurance for coverage against unauthorized transactions and counterfeit fraud up to the credit limit.
• Provides comprehensive travel insurance for incidents like lost baggage, delayed baggage, loss of passport, lost ticket, and missed connection.
• Comes with a complimentary Personal Air Accident Insurance cover of up to ₹25 lakh.
• Exclusive welcome gift vouchers are available from premium brands such as Montblanc, The Postcard Hotel, Oberoi, Luxe, and Vouchagram.
• Reward points can be redeemed for cash credit at a rate of 1 RP = ₹0.75.
• Effective 1st September 2024, a maximum of 2,500 reward points can be redeemed for cash credit per calendar month.
• A minimum of 500 reward points is required to use the 'Pay by Rewards' option.
• Equipped with a contactless card feature for quick and secure tap-and-pay transactions.
• The card supports both online and offline (POS) transactions, as well as international usage.
• Reward points earned do not have an expiration date.
• A joining fee of ₹10,000 + GST applies.
• A rewards redemption fee of ₹100 is charged.

Other Details

• Card Technology: The IndusInd Nexxt Credit Card is a chip-based contactless credit card, designed for fast, convenient, and secure daily purchases by simply tapping the card at contactless-enabled merchant locations. It can also be used at millions of merchant locations worldwide that accept standard card payments.
• Usage Scope: Can be used for shopping at over 10 lakh merchant outlets in India and more than 30 million worldwide. Also facilitates online transactions for movie ticket bookings, utility bill payments, travel, and other e-commerce purchases.
• Button Functionality Limitation: The EMI and Rewards buttons on the Nexxt Credit Card are designed exclusively for Point-of-Sale (POS) merchant outlets. They are not applicable for Online, Moto (Mail Order/Telephone Order), IVR (Interactive Voice Response), Samsung Pay, or ATM cash withdrawal transactions. For these transaction types, the standard credit option will be applied.
• Online EMI Option: Cardholders may still opt for EMI options for online transactions if provided by the specific merchants, even without using the interactive buttons on the card.
• Merchant EMI via POS: If a cardholder wishes to avail Merchant EMI through a POS terminal, they must press the credit button on the card before authorizing the transaction. It is important to note that the interest rate for a merchant-provided EMI can differ from the standard 12% interest rate applicable when using the 'Pay with EMI' button option on the card.
• LED Indicator Behavior: When a payment option button is pressed, the LED light on the card will initially emit constant light, then blink periodically for up to 6 minutes. During this 6-minute window, the card can be swiped, inserted, or tapped. The LED light will switch off 20 seconds after a successful transaction or automatically after 6 minutes if no transaction occurs. To manually turn off an illuminated LED light, simply press the currently lit button again.
• Checking Reward Balance: Cardholders can check their available reward points balance through the IndusMobile App (by navigating to the Credit Card Details page and clicking the ‘View’ link in the Reward Points section) or by sending an SMS with "RBALE <last 4 digits of card number>" to 5676757.
• Auto Assist: The card offers Nexxt Auto Assist, which includes services such as roadside repair, emergency towing, medical assistance, and help with keys locked inside the vehicle.
• Income Requirement: The income requirement to avail of this card is determined by the bank and varies from applicant to applicant based on individual assessment.