AU Small Finance Bank is one of the newest players in the credit card space. It was also the first SFB to launch its own credit cards in September 2021. As of today, we have entry-level to premium cards with decent rewards and benefits. In this post, we review the AU Bank Vetta Credit Card.
Fees and Charges
All AU Bank credit cards are issued as Lifetime Free (LTF) for government employees and employees of select MNCs. Please check this article for more details.
|Joining Fee||Rs 2999 plus GST|
|Joining Fee Waiver||Rs 40000 spend within 90 days of card setup|
|Welcome Benefit||Rs 2000 voucher on Rs 30000 spend within 60 days|
|Annual Fee||Rs 2999 plus GST|
|Annual Fee Waiver||Rs 1.5 Lakhs Spend in a membership year|
- Utility Bills: 10 RP/Rs 100 ~2.5% Return
- Grocery, and Departmental Stores: 4 RP/Rs 100 ~1% Return
- All other spends: 2 RP/Rs 100 ~0.5% Return
- Birthday Spends: 1000 RP for doing one retail transaction on birthday ~Rs 250 Value
- Excluded spends for rewards: Fuel
For a card offering a max return of 2.5%, the annual fee is on the higher side. We have many ways to pay utility bills and get a higher return, so there is nothing special in the rewards. We have milestone rewards that offer an extra return but nothing great as well.
Quarterly Milestone Rewards
- 500 bonus RP on spends of Rs 50000 in a calendar quarter
- Additional 1000 bonus RP on spends of Rs 1 Lakh in a calendar quarter
1500 bonus RP is equivalent to Rs 375. So, this is an extra return of 0.375%.
Yearly Milestone Rewards
- Rs 1000 gift voucher on Rs 2.5 Lakhs spend in a membership year
This adds an extra return of 0.4%. Including all milestone rewards, the max return will be between 1.3% to 3.3%. This is still a little low considering the annual fee.
The reward points can be redeemed on the AU Rewardz portal. Each RP is worth 25 paise.
- Vouchers: Many options including Amazon
- Merchandise: Not recommended as we get a better value in other options
- Mobile/DTH Recharge
- Flight/Hotel/Bus booking
Complimentary Airport and Railway Lounge Access
- Airport Lounges within India: 1 complimentary visit/quarter directly on the Visa card to this list of lounges
- Airport Lounges outside India: 2 complimentary visits/quarter with Priority Pass
- Railway Lounges in India: 2 complimentary visits/quarter at railway stations in New Delhi, Kolkata (Sealdah), Jaipur, Ahmedabad, and Agra
The complimentary lounge visits are also applicable to add-on credit card holders. 🙂
- Fuel Surcharge Waiver: 1% for transactions between Rs 400 and Rs 5000. Maximum of Rs 250 per statement cycle.
- Forex Markup: 2.99% plus GST ~3.5%
If you are getting the Vetta as LTF, then it is a decent card to have. You can use it for railway and airport lounge access. But, if you are getting this with the annual fee, then it is not worth it.
We have many LTF credit cards that can give you a better return on your spending. Some options are SBI Cashback, Axis Ace, or even Flipkart Axis Bank credit card. All these come with a very low annual fee.