IndusInd Bank Platinum Credit Card

You can earn reward points on your transactions and redeem them as per the below details:

• 1.5 reward points for every Rs. 150 spent, except fuel spends
• 1 RP = Re. 0.40 against cash credit redemption
• 1 RP = Re. 0.60 for non-cash redemption, except for airmiles
• 100 RP = 100 Air Miles/ CV Points
• Redemption against IndusMoments rewards catalogue and Pay with rewards

The credit card’s reward rate of 0.40% seems too low for a card emphasising on rewards, especially when options like IDFC First Select Credit Card which is a lifetime free alternative with a reward rate of up to 2% on all transactions. Considering a reward rate of 0.40% across all categories, cards like SBI Prime, with a similar annual fee, surpass it by offering a 2.5% value back on dining, groceries, departmental stores, and movies, along with 0.5% on other categories.

When it comes to miles conversion, IndusInd Platinum allows transfer to InterMiles and CV Points (Club Vistara). The only advantage here is that the redemption value, where 1 Reward Point is equivalent to 1 InterMile/CV Point, might give this card a slight edge over all-rounder cards with a high earning rate but low redemption value.

To help you take a comparative look, below is the table showing the value back offered by IndusInd Platinum and similar cards, including IDFC First Select and SBI Prime.

Rewards Comparison: IndusInd Platinum Vs. IDFC First Select Vs. SBI Prime

IndusInd Platinum, IDFC First Select, and SBI Prime, all credit cards give a decent value back through rewards for your transactions. Let’s understand with the help of an example how much you can save with these cards in a month:

*For IDFC First Select Credit Card, rewards earned on the first Rs. 25,000 spent on the first 3 spending categories are calculated as per the base rate, while rewards on all other spends are as per the accelerated earing rate. 

The calculation for the above illustration is done based on the following assumptions:

• Reward redemption value of IDFC First Select and SBI Prime Credit Card is 1 RP = Re. 0.25
• Reward redemption value of IndusInd Platinum Credit Card is 1 RP = Re. 0.40

Here, the value-back earned via IndusInd Platinum Credit Card has been calculated on rewards redemption against cash credit. However, if you want to maximise your returns via rewards then you can also opt for non-cash redemption options where you get Rs. 0.60 value-back per reward point or even convert your accrued reward points into InterMiles or Club Vistara Points at the redemption ratio of 1:1.

Explore Further: Best Credit Cards for Reward Points | Check Eligibility for Top Cards

In addition to the reward points, the card also offers welcome bonus, insurance coverage and fuel surcharge waiver as per the details below:

Welcome Benefits: Luxe Gift Card and vouchers of top brands, including The Postcard Hotel, Montblanc, Amazon, Flipkart, Apollo Pharmacy, Uber, Ola, Pantaloons, Bata, and more after the payment of joining fee. These benefits are offered only on the paid variant.

Travel Insurance Coverage

• Lost baggage: Rs. 1 Lakh
• Delayed baggage: Rs. 25,000
• Loss of passport: Rs. 50,000
• Lost ticket: Rs. 25,000
• Missed connection: Rs. 25,000
• Air accident cover: Up to Rs. 25 Lakh
• Total Protect plan for card loss/theft: Up to 100% of credit limit

Fuel Benefits: 1% fuel surcharge waiver, up to Rs. 100 per month, across all petrol pumps in India on transactions between Rs. 500 to Rs. 3,000.

Apart from its primary feature of reward points, this credit card lacks substantial benefits. Basic perks, such as travel insurance and fuel surcharge waiver are commonly offered by entry-level cards like Axis ACE, Flipkart Axis Credit Card, and Cashback SBI Card, with significantly lower annual fees.

Explore Further: Best Travel Credit Cards in India | Check Eligibility for Top Cards

Here’s a detailed example to help you understand how much you can save via IndusInd Bank Platinum Credit Card. Suppose you have spent Rs. 60,000 in a month as per the following details:

Note: The redemption of reward points for the above transactions is done at a value of 1 RP = Re. 0.40 against cash credit.

Considering the average monthly spend of Rs. 60,000, cardholders will be able to earn 550 reward points and a fuel surcharge waiver of up to Rs. 40, summing up to monthly savings worth Rs. 260.

IndusInd Bank Platinum credit card, positioned as a mid-level option, offers reward and lifestyle perks. Despite a joining fee of Rs. 3,000, its 0.40% reward rate is relatively low, especially compared to other lifetime free credit cards, such as IDFC First Select, offering up to 2% reward rate. This card may be a right choice for frequent travellers who prefer to redeem rewards for InterMiles or CV Points at a 1:1 ratio. However, beyond rewards, the card’s benefits are basic, including insurance coverage and a fuel surcharge waiver – features commonly offered by entry-level cards, like Flipkart Axis and Cashback SBI, available at a nominal fee of up to Rs. 999.

IDFC FIRST Select Credit Card

3_/5

Joining fee: ₹0

Annual/Renewal Fee: ₹0

10X reward points on incremental monthly spends above Rs. 20,000

3X reward points on purchases of up to Rs. 20,000 in a month

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Product Details

• 1 reward point per Rs. 150 on utility, insurance and other offline spends
• Gift vouchers worth Rs. 500 on spending Rs. 5,000 within 30 days of card setup
• 5% cashback on first EMI transaction done within 90 days of card setup
• 2 complimentary domestic airport lounge access in a quarter on spending Rs. 20,000 in a month
• Buy 1 Get 1 offer on movie tickets, twice a month on Paytm mobile app

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HDFC Regalia Credit Card

3_/5

Joining fee: ₹2500

Annual/Renewal Fee: ₹2500

4 reward points per Rs. 150 spent on all retail spends

Up to 15,000 bonus reward points as milestone benefit

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• 2% foreign currency exchange fee
• 10,000 rewards on Rs. 5 lakh annual spends & 5,000 rewards on Rs. 8 lakh annual spends
• Up to 20% off on dining via Swiggy Dineout
• Insurance cover for air accident death, lost card liability & emergency overseas hospitalisation
• 1% fuel surcharge waiver up to Rs. 500 per month for fuel spends of Rs. 400 to Rs. 5,000

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HDFC Diners Club Privilege Credit Card

3.5_/5

Joining fee: ₹2500

Annual/Renewal Fee: ₹2500

Up to 10X reward points on Smartbuy travel bookings

20 reward points per Rs. 150 spent on Swiggy and Zomato

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Product Details

• 4 reward points per Rs. 150 spent on other categories; Up to 20% off on dining via Swiggy Dineout
• Buy 1 Get 1 Free, up to Rs. 250 off per ticket, on BookMyShow weekend shows for max. 2 free tickets/month
• Marriott/ Decathlon/ O2 Spa/ Barbeque Nation/ Lakme Salon Rs. 1,500 voucher on Rs. 1.5 lakh quarterly spends
• Swiggy One & Times Prime annual memberships on Rs. 75,000 spends within the first 90 days
• 2 complimentary airport lounge access worldwide per quarter on Rs. 15,000 quarterly spends

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SBI Card PRIME

3.5_/5

Joining fee: ₹2999

Annual/Renewal Fee: ₹2999

5X reward points on dining, groceries, departmental stores, and movies

8 international Priority Pass & 4 domestic airport lounge visits per year

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• 10X reward points on birthday spends; 2 reward points per Rs. 100 on other retail purchases
• Complimentary Club Vistara Silver membership
• E-gift vouchers worth Rs. 3,000 of popular brands, such as Yatra, Pantaloons, etc., as welcome benefits
• Pizza-hut gift voucher worth Rs. 1,000 on quarterly spend of Rs. 50,000
• Yatra/ Pantaloons gift voucher worth Rs. 7,000 on spending Rs. 5 lakh in a year

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