The IndusInd Bank Duo card is an interesting offering. The Duo features debit and credit offerings on the same plastic card. With two EMV chips on either end, one just needs to swipe using the left side for Debit and the right side for Credit. But is there any benefit of using the Duo card except the novelty idea? Here is a review and everything you need to know about the IndusInd Bank Duo card.
Fees and Charges
The Duo does not have any annual fee. There is an issuance charge of Rs 249 which will also be charged when the card is re-issued upon expiry.
Credit Card Rewards
The Duo has different rewards and benefits when used as a credit or debit card.
- All Spends: 1 RP /Rs 150
- 1 RP = 50 paise for statement credit ~0.33% Return
Debit Card Rewards
- Domestic Spends: 1 RP/Rs 150 ~0.33% Return
- International Spends: 2 RP/Rs 150 ~0.66% Return
- Internet Banking Transactions: 5 RP per transaction (Max 5 transactions/month) ~Rs 12.5 Value
- Mobile Banking Transactions: 10 RP per transaction (Max 5 transactions/month) ~Rs 25 Value
- ATM Withdrawals: 5 RP per transaction (Max 5 transactions/month) ~Rs 12.5 Value
- SI/ECS: 25 RP per Rs 500 (Max 75 RP/month) ~Rs 37.5 Value
There are also extra points for using the card every month.
- BookMyShow: Buy one and get the second one free up to Rs 250. Valid once per month.
- 1% Fuel Surcharge Waiver when used as a credit card. Valid for transactions between Rs 400 to Rs 4000.
- 2% markup for foreign transactions
There is an idiom ‘Sailing on two boats’. This fits the IndusInd Bank Duo card. While a novel concept, the card is useful neither as a credit card nor a debit card. Below average rewards, and no lucrative benefits make this an avoidable card.