AU Bank LIT Credit Card
The AU Small Finance LIT Credit Card is India’s first customizable credit card, letting you choose the features you want and pay only for those. Unlike other cards that come with fixed benefits, the LIT card gives you control to pick options that fit your lifestyle. You can manage these features easily through the AU 0101 App and activate them for 90 days based on your needs, making it simple and convenient.
This card offers great benefits, like earning 1 reward point for every ₹100 spent and accelerated 5X or 10X points on selected features. You can enjoy cashback, free memberships to services like Zee5 and Amazon Prime, and even access to airport lounges for travelers. Best of all, it’s a lifetime free card, so you can switch features on or off whenever you like while keeping track of your expenses.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Key Considerations Before Applying for a Credit Card in India:
- Eligibility Criteria: Ensure you meet the eligibility requirements, which typically include age, income, credit score, and employment status as defined by the issuing bank or financial institution.
- Credit Score: A strong credit score can significantly improve your chances of approval and result in more favorable terms, such as lower interest rates or higher credit limits. Verify that your credit score is healthy before applying.
- Interest Rates and Fees: Compare the annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction charges associated with various cards. These costs can vary widely and impact the overall value of the card.
- Rewards and Benefits: Evaluate the rewards, cashback, discounts, or other perks offered by the card to ensure they align with your spending patterns. Some cards may provide better benefits in specific categories, such as travel, shopping, or dining.
- Credit Limit: Review the credit limit offered by the card to ensure it meets your financial needs. Avoid applying for cards with excessive limits if you are concerned about managing debt, as this can lead to higher interest charges.
- Repayment Terms: Understand the repayment structure, including the minimum payment amount, payment due dates, and any associated penalties. Being clear about these terms can help you manage payments effectively and avoid interest buildup.
- Card Type and Features: Choose a card type that matches your specific needs—whether standard, premium, or specialized cards like those offering travel rewards or dining privileges. Ensure the features of the card align with your lifestyle and spending habits.
- Bank’s Reputation: Opt for a financial institution with a proven reputation for customer service and transparency. Consider researching customer reviews and assessing their support channels to ensure reliable service.
- Hidden Charges: Be aware of any hidden fees, including annual fees, balance transfer charges, foreign transaction fees, or cash withdrawal charges. These can add up over time and affect the overall cost-effectiveness of the card.
- Credit Utilization: Maintain a balance within your credit limit to avoid high credit utilization ratios, which can negatively impact your credit score. Responsible use of credit is essential for maintaining financial health.
- Long-Term Financial Plans: Consider how the credit card fits into your overall financial strategy. Avoid accumulating unnecessary debt and choose a card that supports your long-term financial goals without adding financial strain.
How can I pay my AU LIT Credit Card bill?
You can pay your AU LIT Credit Card bill through the AU 0101 app or the net banking portal. Simply log in, go to the Credit Card section, choose 'Pay Bill,' and click 'Redeem.' Enter the bill amount and proceed by selecting your bank account, confirming with an OTP received on your registered mobile.
Can my children use the LIT Credit Card as add-on partners?
Yes, children aged 18 and above can be added as add-on partners for the LIT Credit Card.
Do I need to have an AU Bank account to get the LIT Credit Card?
Yes, having an account with AU Bank is required to apply for the LIT Credit Card.
How long do the features of the LIT Credit Card last?
Features are valid for 90 days from the activation date.
When will I receive cashback for using the LIT Credit Card?
Cashback is credited five days after the 30-day period of use ends.
How can I turn off auto-renewal for features on the LIT Credit Card?
You can disable the auto-renewal of features using the AU 0101 app. By default, features are set to renew every 90 days.
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