IndusInd Bank Payback Credit Card
Gaurav
IndusInd Bank has teamed up with PAYBACK to launch the IndusInd Bank Payback Credit Card, which lets you earn payback points on all your purchases. This credit card is very rewarding and has a low joining fee of just Rs. 249 plus GST. It covers a wide range of everyday needs, from paying utility bills to enjoying movies and dining. The card also offers personal air accident insurance and auto assistance. You can easily redeem your reward points with no redemption fee. For more information, please check the features and benefits listed below.
Rewards and Benefits
Movie & Dining
N/A
Domestic Lounge Access
N/A
Rewards Rate
Earn 20 PAYBACK Points for every Rs. 100 spent on movies, 5 PAYBACK Points on groceries, dining, and shopping, and 2 PAYBACK Points on other purchases.
Golf
N/A
Travel
N/A
Insurance Benefits
Covers personal air accident insurance up to Rs. 25 lakhs.
International Lounge Access
N/A
Reward Redemption
You can use your PAYBACK points to get e-vouchers, recharges, or buy products from the catalog. 1 PAYBACK Point is equal to Re. 0.25.
Fees & Charges
Interest Rates
3.83% p.m. (46% p. a.)
Spend-Based Waiver
N/A
Rewards Redemption Fee
Rs. 100
Cash Advance Charges
2.5% of the advance amount (minimum of Rs. 300)
Foreign Currency Markup
3.50 +GST
Fuel Surcharge
Get 1% fuel surcharge waiver on transactions between Rs. 400 - Rs. 4000 at fuel stations in India.
What should you consider before applying for a credit card in India?
Before applying for a credit card in India, consider the following factors:
- Eligibility Criteria: Check the age, income, credit score, and employment status requirements set by the bank or financial institution.
- Credit Score: A higher credit score increases your chances of approval and may result in better offers. Ensure your credit score is in good standing.
- Interest Rates and Fees: Compare annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction fees. These can vary significantly between cards.
- Rewards and Benefits: Look for cards that offer rewards, cashback, discounts, or other perks that align with your spending habits.
- Credit Limit: Make sure the credit limit offered is in line with your financial needs. Avoid over-borrowing, which can lead to high-interest charges.
- Repayment Terms: Understand the repayment options, minimum payment amount, and due dates. Consider how easily you can manage timely payments to avoid interest accumulation.
- Card Type and Features: Choose a card type (e.g., standard, premium, travel, etc.) based on your requirements. Some cards offer more benefits for specific categories like travel, shopping, or dining.
- Bank’s Reputation: Opt for a bank with a good track record of customer service and transparency. Read reviews and consider their customer support accessibility.
- Hidden Charges: Be aware of any hidden fees, such as annual fees, balance transfer charges, and cash withdrawal fees.
- Credit Utilization: Ensure you can manage your spending within the credit limit to maintain a healthy credit utilization ratio, which impacts your credit score.
- Long-Term Financial Plans: Think about how the credit card will fit into your long-term financial goals and avoid accumulating unnecessary debt.
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