IndusInd Nexxt Credit Card
IndusInd Bank has launched the IndusInd Nexxt Credit Card, India’s first interactive credit card that makes payments easier and more convenient. This card comes with built-in buttons that let you choose how you want to pay—using EMI, Reward Points, or Credit—directly at the payment machine. Every time you spend Rs. 100, you earn 1 Reward Point, which can be redeemed for various options. It also offers benefits like a ‘buy one, get one’ deal on BookMyShow, roadside assistance for emergencies, and a 1% fuel surcharge waiver.
What makes this card stand out is its sleek design with in-built LED lights, giving it a premium look. It allows users to pick EMI plans for 3, 6, 12, 18, or 24 months, use reward points for purchases, or simply pay using credit. The card has a one-time joining fee of Rs. 3,499 but no renewal fee. With its flexible payment options and user-friendly features, this card has become popular for making transactions smoother and more efficient.
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.
What is the joining fee for the IndusInd Nexxt Credit Card?
The one-time joining fee for this credit card is Rs. 3,499. This fee is charged when the card is issued and is non-refundable.
Are there any renewal fees applicable?
No, this card does not have any renewal fees, meaning you don’t have to pay an annual fee to continue using it.
Can I use my Nexxt Card for international transactions?
Yes, the Nexxt Card can be used for both online and offline purchases within India and in other countries. It is accepted worldwide wherever the card network is supported.
What is the required CIBIL score to be eligible for this card?
To apply for this card, you need a CIBIL score of 750 or above. A strong credit history with timely payments of debts and EMIs improves your chances of approval.
How much can I save using this credit card?
The total potential savings with this card can go up to Rs. 24,100, depending on how you utilize its benefits and offers.
What is the cap on the free movie ticket price?
The free movie ticket benefit has a price cap of Rs. 200, meaning any ticket priced above this amount will require you to pay the difference.
Does this card support contactless payments?
Yes, the Nexxt Credit Card is enabled with a contactless payment feature, allowing fast and secure transactions by simply tapping the card at a POS machine.
How can I check the status of my credit card application?
You can check your application status by calling IndusInd Bank’s customer support at 1860-500-5004 or 022-44066666.
Leave a Reply