Pinnacle is one of the good premium credit cards in IndusInd Bank’s offerings. The card has a decent reward rate and benefits which make it a card worth applying for. Here is a review of the IndusInd Bank Pinnacle credit card and its rewards/benefits.
Joining/Annual Fee
In line with IndusInd Bank’s other card offerings, there is no annual fee for the Pinnacle credit card. We need to pay the joining fees and we get gift vouchers against it. The number of gift vouchers keeps changing. Below are the current fees and offer for this card.
| Joining Fee | Rs 15000+GST |
| Welcome Benefit | Rs 15000 offline vouchers / Rs 12000 online vouchers |
| Renewal Fee | NIL |
The online voucher code is a Gyftr redemption. So, we can redeem it for Amazon or Flipkart vouchers. The offline vouchers include brands like Bata, Pantaloons, Titan, and Hidesign.
If you have some shopping planned, offline vouchers are a better option as we get a higher value. In this case, the effective fees for the Pinnacle card reduce to Rs 2700 or the GST component.
Rewards
| TYPE OF SPEND | REWARD POINTS |
|---|---|
| Online Spends | 2.5% |
| Online Travel and Airline | 1.5% |
| Online/Offline Utility Bill Payments | 0.7% |
| PoS, MoTo, IVR and Standing instructions |
1% |
| Insurance Premium, Government Services/Charges/Payments, Education Institute Fees, Real Estate/Rental Payments | 0.7% |
Excluded Transactions for Rewards
Below transactions will not get any cashback on the IndusInd Pinnacle credit card:
× Fuel Spends
Complimentary Airport Lounge Access
- International Airport Lounge Access: 2 complimentary visits/calendar quarter with Priority Pass
- Domestic Airport Lounge Access: 1 complimentary visit/calendar quarter with Mastercard
Other Benefits
- BookMyShow: Buy one and get the second one free up to Rs 200. Valid 3 times/month.
- Complimentary IndusInd Bank Exclusive Savings Account with no minimum balance requirement.
- 24*7 Concierge
- 24*7 Auto Assist
- 1% Fuel Surcharge Waiver
Rewards Redemption
Each reward point is equal to 75 paise for a statement credit and 1 Airmiles for transfer to partners. We can redeem the reward points for:
- E-Vouchers and products on IndusMoments
- Airlimiles transfer to InterMiles/Vistara
- Cash Credit – Max 25000 RP per statement
My View
IndusInd Pinnacle offers decent rewards and benefits for a premium credit card. There are some online spending like utility bills/rent payments where we get 0.7% rewards. IndusInd could have kept this at 2% with some upper cap to curb misuse. But, it has gone for a drastic approach.
On the rewards front, cards like Amazon Pay ICICI and Flipkart Axis are better at rewards. So, the only differentiating factors are benefits like redemption options and lounge access.
As there is no annual fee and we can get this card at an effective Rs 2700, this is still a good deal. We can also take advantage of the occasional spend offers during the festival season.
