IndusInd Bank recently launched a premium credit card just before the new year, name Indus Solitaire Credit Card. Let's delve into the details of this credit card.
Charges:
Joining: 30,000 + GST
Annual Fees: 10,000 + GST
Welcome Benefits:
1. Get complimentary Taj Epicure Preferred Membership for one year (First year only), which comes with:
2. Spend INR 1 lakh in first 30 days from card issuance date and earn 5000 Bonus Reward Points
3. Get EazyDiner Prime Membership for One Year
4. Club ITC Culinaire Membership: Get ITC Culinaire Membership as welcome benefit (Mastercard World Elite benefit), your membership will be renewed automatically every year for free.
5. Moneycontrol Pro Membership
Main Benefits:
1. Enjoy 4 complimentary International lounge visits per quarter and 4 complimentary Domestic lounge visits per quarter. IndusInd Bank tied up with Lounge Key for offering lounge access on this credit card. You don't need any separate card for international lounge access, just swipe your credit card and tell lounge manager this card has lounge key membership.
2. Enjoy Zero Markup Fees on all foreign transactions.
3. 1% surcharges waiver at all fuel stations in India. Your transaction amount should be between 400/- to 4000/-
Reward System:
Earn 1 Reward Point on every INR 100 spent
Note: Reward points earning on transactions done at select MCC categories such as utility bill payments, insurance premium, government services, Educational Institutes, Real Estate and rental payments will be 0.70 Reward Point for every Rs 100 spent.
Fuel transactions will not accrue any reward points.
Redemption:
Reward Rate:
IndusInd Bank tried to copy the 5:4 transfer ratio from Axis Magnus, but they forgot to copy Magnus's reward earning rate. And also forgot to partner with any international airlines or hotel chain.
This card is not a value-for-money credit card. Even if you want a zero markup fees card, there are cheaper alternatives available.
Charges:
Joining: 30,000 + GST
Annual Fees: 10,000 + GST
Welcome Benefits:
1. Get complimentary Taj Epicure Preferred Membership for one year (First year only), which comes with:
Night Stay: Get one voucher for 1 Night Stay with breakfast for two persons
Upgrade Vouchers: 2 Vouchers for one-level room upgrade for one night reserved directly at Best Available Rate
Set Meals: Get two vouchers at All Day Dining Restaurants for two people
Complimentary Spa Treatments: Complimentary one-time 60-minute spa treatment and access to sauna and steam for one person
Year round discounts: Get up to 25% discount on your stay, dine-in, takeaway and Spa treatments
More details about Taj Epicure Preferred Membership here: https://www.tajhotels.com/en-in/epicureprogram/
2. Spend INR 1 lakh in first 30 days from card issuance date and earn 5000 Bonus Reward Points
3. Get EazyDiner Prime Membership for One Year
4. Club ITC Culinaire Membership: Get ITC Culinaire Membership as welcome benefit (Mastercard World Elite benefit), your membership will be renewed automatically every year for free.
5. Moneycontrol Pro Membership
Main Benefits:
1. Enjoy 4 complimentary International lounge visits per quarter and 4 complimentary Domestic lounge visits per quarter. IndusInd Bank tied up with Lounge Key for offering lounge access on this credit card. You don't need any separate card for international lounge access, just swipe your credit card and tell lounge manager this card has lounge key membership.
2. Enjoy Zero Markup Fees on all foreign transactions.
3. 1% surcharges waiver at all fuel stations in India. Your transaction amount should be between 400/- to 4000/-
Reward System:
Earn 1 Reward Point on every INR 100 spent
Note: Reward points earning on transactions done at select MCC categories such as utility bill payments, insurance premium, government services, Educational Institutes, Real Estate and rental payments will be 0.70 Reward Point for every Rs 100 spent.
Fuel transactions will not accrue any reward points.
Redemption:
Convert your Reward Points to Airmiles with our Airline Partners in the ratio of 5 Reward Point = 4 Air miles. (Options: Club Vistara & Intermiles)
Get Cash Credit in the ratio of 1 Reward Point = ₹ 0.50.
Reward Rate:
Airmiles: 0.80%
Cash: 0.50%
TF Opinion: At the time of joining, you are getting more than enough benefits to offset the joining fees, but this card seriously lags behind in terms of the reward system. I mean, look at its value back percentage; it's lower than any entry-level credit card. When you are paying a 30,000 joining fee and a 10,000 annual fee every year, then you should get enough value back to justify the fees, but this card offers nothing more than zero markup fees. There are better cards available if you want Taj Epicure membership.IndusInd Bank tried to copy the 5:4 transfer ratio from Axis Magnus, but they forgot to copy Magnus's reward earning rate. And also forgot to partner with any international airlines or hotel chain.
This card is not a value-for-money credit card. Even if you want a zero markup fees card, there are cheaper alternatives available.
