IndusInd Bank credit cards do not have the best reward programs and benefits in the market. But they do have some great-looking credit cards. The Indulge is one such luxury credit card that comes with a pure 22K gold inlay. It is made for the UHNI with quite high eligibility criteria. Here is a review of the IndusInd Bank Indulge credit card with its rewards and benefits.
Eligibility
The income bar is set quite high for the Indulge. The income/ITR needs to be:
- Rs 48 LPA for salaried
- Rs 60 LPA for self-employed
Few would be eligible for the Indulge with this criteria. We can also apply using a card-on-card with a base limit of Rs 5 Lakh on an existing card.
Fees and Charges
IndusInd Bank’s joining offers for credit cards changes almost every month. The offers vary based on the customer segment and application source. The current offers are as below:
| JOINING FEE | ANNUAL FEE |
|---|---|
| Rs 2 Lakhs | Zero |
| Rs 1 Lakh | Rs 10000 |
| Rs 90000 | Rs 10000 |
| Rs 45000 | Rs 10000 |
All the offers come with some welcome benefits which can range from 80% to more than 100% of the joining fees. There are three kinds of welcome benefits which are offered together or stand alone.
- Genesis Luxury Vouchers: Redeem for apparel and accessories from brands like Giorgio Armani, Jimmy Choo, Hugo Boss, Coach, etc.
- Vouchagram vouchers: Redeem for offline brands like Pantaloons, Woodland etc.
- Hotel Vouchers: Oberoi vouchers that can be redeemed for a 1 or 2-night stay in some of the best hotels.
The Oberoi hotel vouchers can provide good value. The options include the Vanyavilas Ranthambore which goes for more than Rs 45000. Another option is Amarvilas Agra, which is marked for Rs 30000.
Rewards
For a card with such a high annual fee and eligibility, one would expect top rewards. But, we are in for a little disappointment.
| TYPE OF SPEND | REWARD POINTS |
|---|---|
| All Spends (except below categories) | 1.5% |
| Utility Bills, Insurance Premium, Government Services, Education Institute Fees, Real Estate/Rental Payments | 0.7% |
Considering the fee, IndusInd should have kept rewards at 1.5% for all spending. The 1.5% reward rate is already low for a super-premium luxury credit card.
Rewards Redemption
Each reward point is equal to Rs 1 or 1 Airmiles for all redemption options. We can redeem the reward points for:
- E-Vouchers and products on IndusMoments
- Airmiles transfer to InterMiles/Vistara
- Statement Credit
Complimentary Airport Lounge Access
The IndusInd Bank Indulge credit card joins the Axis Magnus, HDFC Infinia, and DCB in giving unlimited international airport lounge access outside India.
- International Airport Lounge Access outside India: Unlimited complimentary visits with Priority Pass
- Airport Lounge Access within India: 6 complimentary visits/calendar quarter with Visa
Key Benefits
- Indulge comes with NPSL (No Preset Spending Limit) which allows you to spend above your credit limit in the range of 10% to 20%.
- EazyDiner Offer: Get Rs 3000 off on the total bill twice a year ~ Rs 6000 savings/year
- BookMyShow: Buy one movie ticket and get the second one free up to Rs 700. Valid 3 times/month. ~Rs 10800 savings/year
- 24*7 Concierge
- Fuel Surcharge Waiver: 1% waiver for transactions between Rs 400 to Rs 4000
- Foreign Currency Markup: 1.8% + GST
- Up to 5 add-on cards at no extra fee. 5 add-on cards on Visa Infinite are a great benefit IMO.
Final Thoughts
There is not much special about the super-premium Indulge credit card. The looks are premium for sure with the 22K gold inlay. The benefits of the card are also good enough. What is puzzling are the low rewards. The 1.5% rewards are too low for a card that is marketed as a super-premium luxury credit card. We do not even have any way to earn accelerated rewards.
The other negative is that for utility bills/rent payments, we get just 0.7% rewards. IndusInd could have kept this at the same 1.5% with some upper cap to curb misuse. 0.7% rewards for such categories is too low for a luxury super-premium card.
