IndusInd Credit card De-valuation and Downgradation!!!

IndusInd Credit Card Rewards Program getting less attractive from 1st Aug 2019

Indusind has announced couple of changes to their credit card loyalty program .

The Changes are coming from  1st Aug 2019 and the details of this changes are worser than even one can think of.

The changes are very Unimpressive to the already lack - lustre department of Indusind Credit Cards.

Please note, the IndusInd Bank Credit Card Rewards program will be revised with effect from 1st August 2019, for earning Reward Points on the following indicative list of merchant categories:

•        Utility Bill Payments
•         Insurance Premium Payments
•         Government Services/Charges/Payments
•      Education Institute Fees

Spends on all other merchant categories will continue to earn Reward Points as per the existing Rewards program.

Note:The revision in the merchant categories for earning Reward Points is not applicable for IndusInd Bank Platinum Select Credit Card, 

IndusInd Bank Platinum Aura/Aura Edge Credit Card (Shop, Travel and Party plans), IndusInd Bank Nexxt Credit Card, 

IndusInd Bank PAYBACK Credit Card and 

IndusInd Bank Duo Card.

The Credit Card Reward Rates are now at 0.7% even for super premium / premium cards like INDULGE / CREST / PIONEER HERITAGE .

Rewards capped to your Credit Limit

You will earn reward points only for spends upto the assigned credit limit in every statement cycle. Meaning, if you pre-pay multiple times to the card and then spend due to low credit limit, then you no longer get rewards for those spends done beyond your credit limit.

One of the many worst decisions that Indusind took in recent times. Indusind has already been limiting the ability to earn points per “statement cycle” which was OKAY but now they’ve took it to one more level – worser.

Detailed terms & conditions on the changes are here.

THERE'S EVEN MORE THAN THIS

Due to above changes and other “un-announced” changes, it appears that Indusind is not willing to give you the reward points even for valid txns.

I recently did a valid offline retail txn on my Indusind Credit Card and the bank didn’t credit the reward points for that txn.

Eventhough I got the points after I raised a query, it appears that the Indusind team isn’t working in good intention when it comes to crediting the reward points you deserve.

INTENTIONS , INTEGRITY ARE DOWN THE HILL FOR INDUSIND CREDIT CARD.

CONCLUSIONS

Indusind no longer has plans to play the premium credit card game the right way. All their newly launched premium / super premium cards are just useless.

Very high Joining fees now clubbed with super useless rewards structure / Capping of reward points are currently a recipe of disaster waiting to happen with Indusind Credit card department.

What are your views on this ??