My Experience with Indusind Iconia American Express Credit Card

By | November 19, 2017

I started my relationship with Indusind Bank ~2 years back, just because I was able to select my own bank account number except first 2 digits, which will be the branch code. Whenever I want to receive some funds from my friends, I give them my Indusind A/c and they’ll be like.. “is it really your AC?!” Well, the point is, you can get a nice fancy bank AC number from Indusind.

  • Joining Fee: Rs.10,000 + GST with welcome voucher (other options like 3.5k is also avail)
  • Renewal fee: Nil

Good thing with Indusind is, they don’t have the annual fee concept for credit cards.

Indusind Iconia American Express Credit Card

So now, after holding Indusind Exclusive account for about an year, its now time to try their credit cards. So I narrowed down to Iconia Amex. Why? It gives 2% value back on weekend spends, including fuel spends (maybe temporary). Here is a quick look into the important features and benefits of Indusind Iconia Amex credit card,

Features of Indusind Iconia American Express Credit Card:

  1. Weekend spends – 2% value back
  2. Weekday spends – 1.5% value back
  3. Reward points on Fuel as well. Another 0.75% cashback on fuel as per Gov. rules.
  4. Unlimited Domestic Lounge access
  5. Bookmyshow Buy1 Get 1 Offer (though i see it always runs out of quota)
  6. Good Festive offers (usually during Diwali)

For more details on benefits,
Check out our earlier review done by Manish’s here: Indusind Iconia Amex Credit Card.

While I’ve other bank cards that gives higher rewards, I went for this one just so I can upgrade to a better card in future like Pinnacle variant, as doing so i don’t need to maintain the average balance to keep my Exclusive account.

Indusind Credit Card Application process:

My Application was processed through the branch using some “HNI Quota” as my city is not covered in usual serviceable list. All they took was my indusind bank statement and PAN card details. It’s a pure account txn based credit card as they neither asked for ITR nor other bank cc info. So this is how it went:

  • Signed the docs with 10k voucher benefit
  • Two weeks passed, no sms, no email
  • Called up Branch Manager to check the status
  • Next day approved
  • Other day dispatched and was delivered in 4 days

Imp. note: Indusind donot have a cc application tracking system for those who applied like me. Only branch guys can help and they seem to have good access to the credits team.

First Impressions of Indusind Credit Card:

The Card looks good, more of gray design, though i expected it to be black. The first thing I do every-time once I get a card is, charge it for Rs.100 on some wallet. I just did that and my first ever txn was failed – the 3D secure page did not ask me for OTP, sms notification says AC debited, paytm not funded and most importantly I neither have access to mobile app nor net banking to access my cc info. WTH!

I then found out that I need to register for net banking and so I did. It says card will be linked in 3 days but it took more than a week for me. Now the worst part is their net banking features is worser than Yesbank’s.

Ok, so now I checked what can I do with mobile banking app. Damn, it’s again asking me to register the card. It said 3 days and again it took a week. Unbelievably, their mobile baking app has lots of features for managing the credit card while the net banking doesn’t. Weird!

Credit Limit on Indusind Iconia:

I got one of the low 6 digit credit limit on this card. This maybe because i’ve many credit cards active at most point of time and that most credit cards on which i have high limit are not reported to credit bureaus. Only SBI and few others report the credit limit to CIBIL on which i have low limits as this one.

While checking with the branch on credit limit enhancement, i was said that they don’t have any wait time. If i want a better limit, i can always submit my 3Yrs IT papers for the same. I’m not planning to enhance it for now as i wont be using it for high value txn in near future.

Redeeming the Welcome Voucher:

After a week of my first statement generation, I got an sms that I’m eligible for the welcome voucher and asked to select the option. I choose the “Pantaloons Voucher” and it was delivered by SMS instantly. It’s a digital voucher, valid for one year.

BottomLine:

Overall, the experience with Indusind bank credit card is not so good. Their systems were down twice during past ~2 months and they doesn’t seem to care about linking the credit card to the account during the dispatch, which is a very basic thing. Amex variant doesn’t work on Amazon for some odd reasons.

That all being said, you can have it as one of your backup card and maybe as your primary card for fuel spends – at HPCL pumps only, as you wont be charged any surcharge.

So, should you get a credit card with Rs.10,000 as joining fee? Well, i justify it like this: I do a 10k purchase in pantaloons for my family and i get a free credit card for doing so. You may come up with your creative justifications 🙂

Do you hold Iconia Amex or any other Indusind Credit card? Share your experiences in comments below.

77 thoughts on “My Experience with Indusind Iconia American Express Credit Card

  1. Himanshu

    Hey sid sir. Nice article. What’s HNI quota? Why how banks do not report cards which have higher limit? Is it related to ITR? I file 5 lac per annum.

    Reply
    1. Siddharth Post author

      What’s HNI quota?
      HNI quota is some kind of “limit” set to each branch to provide credit cards to their HNI customers in a non-serviceable area. Most cities are now taking Indusind applications, my case was bit rare.

      Why how banks do not report cards which have higher limit? Is it related to ITR?
      No idea. Maybe just that some banks are not comfortable with it.

      Reply
    1. Siddharth Post author

      I hope i’ve mentioned.
      “Joining Fee: Rs.10,000 + GST with welcome voucher (other options like 3.5k is also avail)”

      Reply
  2. Abhishek Roy

    Hi, the card is really good as far as Airport lounge access is concerned. The card is the only basic card in my knowledge which gives unlimited lounge access to both the primary as well as the add on card members. My brother applied for the card without having IndusInd Account. He was approved just on the basis of salary slips. They initially issued the Visa card but on escalation they gave us the AMEX variant. We applied for 3 add on cards just for getting lounge access for my family members. And the best part, we just went in for the ₹3499 + GST as the joining option. All is good till now. Will update more once I get the add on card.

    Reply
    1. Siddharth Post author

      It does worth it for the Lounge access part alone. But i’m afraid that will change soon, like the diners way 🙂

      Reply
      1. Manu Kumar

        Diners has been Unceremoniously killed in infancy. Diners still is no where near Even Amex when it comes to acceptance. Some how I have seen even small Shops in Gaya, Bihar Accept Amex but not diners.

        Reply
        1. Siddharth Post author

          Well, not really. From my usage, Diners acceptance is far better than Amex, atleast in India.

          And I compared diners here just for unlimited Lounge access, which is now taken away on premium/rewardz 🙂

          Reply
        2. Amex Guy

          A lot of machines accept Diners but sales people don’t know. Last week, ICICI machine in local shop worked with Diners, while shopkeeper insisted he doesn’t accept it. Pulse network is very common, especially if a machine accepts a Rupay card. My advice — ask the shopkeeper to try it.

          Reply
      2. Kavita Sharan

        I am planning to take this ,however if the lounge access is gonna go in near future I would rather refrain from getting this. Can you please confirm when its gonna be gone? Also I was taking this primarily for movies and lounge access ,can you also advice which one to go for if not this?

        Reply
        1. Siddharth Post author

          That depends on how high the existing users swipe for lounge access. If Amex/Indusind feel they’re burning a lot on this, they’ll put the cap. It all depends!

          Reply
          1. Kavita Sharan

            what I meant was that you mentioned that Indusind may remove lounge access as of the benefits to its card holder, Is it something that will happen in near future??

          2. Siddharth Post author

            “Maybe” – Its depends on to how much extent the current users are using/mis-using it 😀

  3. Hari

    I filled in the application for the Iconia card online and although I did not submit the application, i kept receiving mails and calls telling that my application has been conditionally approved. These people were offering me the Platinum card instead of the iconia card and when I asked about the Iconia card and the Joining fee options they were clueless and would hangup saying they will call back again. which never happened.

    Reply
    1. Siddharth Post author

      Platinum/Aura is being issued for free to almost all corporate employees.

      Reply
  4. DR.HARDIK PATEL

    So if we load money into paytm wallet for shopping, bill Payments and fuel then can we get 2% cashback as reward points on weekends? Like other banks do not provide rewards points for loading paytm or other wallets so…

    And also as per their website description they removed 1% fuel surcharge waiver…please let me know if it is correct…dr.hardik patel

    Reply
    1. Siddharth Post author

      Wallet load is being allowed so far, but i would recommend not to do in high volume. Just do wallet txn instead.

      On Iconia Amex at HPCL, you won’t be charged surcharge at all, as Amex is in tie up with HPCL.

      Reply
  5. Aman

    Somehow, I’m not comfortable with amex due to acceptance as well as joining fee. Any offers for Amex LTF?

    Reply
    1. Siddharth Post author

      Check with Amex Sales guys, they might have some offers now and then even if not published on portal. Also, you can get most cards LTF/FYF through airport sales guys. You can find them in Mumbai T2 & few other airports.

      Reply
  6. Prashant Agrawal

    Do these cards not issued by AmEx but on AmEx network qualify for AmEx offers?

    Reply
    1. Siddharth Post author

      Recently amex is doing its best to run offers on all Amex cards. For ex, Dineout offer with ICICI and i also saw somewhere that the MMTAMXPLT coupon can be used even with most bank issued Amex cards.

      Apart from that, Iconia Amex has its own set of offers, other than usual indusind offers.

      Reply
  7. Aman

    Sid
    How many cards do you have now? & which ones?
    I have 4 and am thinking of closing 1 or 2 b4 march.

    Reply
    1. Siddharth Post author

      I think 7, Will have a detailed post on that shortly. Notable ones are DCB, YES Preferred, Jet sapphiro Amex, Amex plat Travel.

      Reply
  8. Praveen Perumalla

    I primarily use this card for fuel and for any festive offers. It is best to always have an alternative card since this card is full of surprises when it comes to acceptability. The card did not work even in some HPCL pumps, life style, Amazon, Air India, and don’t know how many more can be added to the list.

    They are full of mistakes.
    1. The mailing address did not have my phone number and bluedart guys always used to come home during the day time, find my home locked and used to go back. It happened twice. Although there was an alternate mailing address, they couldn’t contact me since there was no mobile number. I had to go to bluedart office to collect the card.
    2. After receiving the card, I realized there was a typo in my company name in the records. When I asked them to change it, the CC lady tells me to wait until the pin envelope reaches me. Don’t know how she thought that the envelope would reach me when it is addressed to a company that doesn’t exist.
    3. My wife’s card did not have her full name on the card. The CC lady tells me that is how I’ve written in the application form and they won’t re-issue another card. I said mine was an online form and I have not given any written form and that their agent would have written it by himself. She then quickly took the request for a re-issue without saying another word.

    Couple of things I like about IndusInd.
    1. Complete transparency regarding reward points. You get to see the points for every transaction
    2. Ease of redemption as cash credit. Takes 2 to 3 days and there are no charges.
    3. Mobile app is good.

    Reply
    1. Siddharth Post author

      Yes, With lots of mistakes/bugs around, Indusind need to upgrade their systems to catch up with the competition.

      Reply
    2. balaji

      The mobile app is a dud in my opinion. I have Iconia Amex and visa variants. I can’t add two cards in the app. I could only add one card.

      Reply
  9. ashu

    I received this Card in October —-
    I also faced Issue of being forced a VISA variant by Bank instead of AMEX version even after applying AMEX in the application itself. However, on raising Complaint, it was rectified and given AMEX version in a week.
    Bank may give Dual Variant Option to some people …

    ——————————————————

    PROs:
    – 2% CB can be availed as Adjustment against Outstaying Credit . So, its as Good as Cash ( though I am still to redeem my points)
    – Very Transparent RPs point allocation. You can chk RPs against each Transaction in Statement
    – All regular Tranx including Wallet Loading covered for RPs…. so you can Load Paytm Wallet on Weekends and use @ neighborhood stores too.
    – Gets Unique Offers for this Card AMEX Iconia Only which are not applicable for other IndusInd Cards ( like Super Sunday, Diwali 2k Offer)
    – No Annual Fees ( though OneTime Joining Fees range from 3.5k to 16k +GST)

    CONs:
    – Strangely does not work in Amazon. Instead of OTP / IBL password routing , Amazon asks for Address PIN code for this Card and the transaction does not goes through. Weird, right.
    – Card will not be covered for AMEX Regular Offers as this is a more like a Partnership card between IndusInd & Amex
    – Card at times does not gets covered for Regular IndusInd Offers like 10% Instant Discount @ Snapdeal. (VISA version will show the Discount and not the AMEX version)
    – BookmyShow 1-on-1 Free Offer is never Available and always Out of Quota…. Believe me I have checked like millions times in last one month.

    ——————————————————
    Word of Caution: Points listed in CONs could be deal-breaker for lot of people.

    P.S: I found IndusInd App to be one of the Best Banking Apps currently in terms of UI & Features.

    Reply
    1. Siddharth Post author

      Thanks much for sharing you experience.

      P.S. I just came to know that you can also get it for “free” if you work in selected MNC’s.

      Reply
      1. Doney

        Hi Siddharth, if this is LTF then it is better than HDFC Regalia LTF.. right?

        Reply
        1. Siddharth Post author

          Mostly yes. But if you need priority pass, you wont be able to compare it.

          Reply
      2. Priyank

        Sid,

        Can you please share the source of this information where we can check the the MNCs eligible to get this card for free.

        Reply
        1. Siddharth Post author

          Someone on twitter said me that. I’ve no direct info. The sales guys in branch could help you with the name of such MNC’s

          Reply
          1. Manjit

            Hi. I received this card as LTF in Marc 2016. Even now this card is being issued as LTF in Reliance Fresh Outlet by Credit Card Sales persons. They only check if you have another card. They informed that all all IndusInd cards are LTF.

  10. Nitin Khanna

    Sid, can you please confirm if Iconia Amex card provides complimentary access to Amex airport lounges? I believe I read somewhere earlier, that it is not allowed.

    Reply
    1. Siddharth Post author

      Only Amex proprietary cards(few) has access to Amex Lounges AFAIK.

      Reply
  11. deepak

    reg:

    Bookmyshow Buy1 Get 1 Offer (though i see it always runs out of quota)

    Try booking the ticket in BMS between 6.30AM – 7AM everyday, and you will be able to get this offers.
    I have an Iconia Visa card and I have availed this offer multiple times.

    Reply
    1. Siddharth Post author

      Thanks for mentioning the time. Though i would be sleeping at that time most days 😀
      Any idea when it opens at night? Quota refreshes 3/4 times a day right?

      Reply
      1. Doney

        Tried and tested way – I have ICICI coral card and I have got Buy1 Get1 offer from BMS whenever I tried booking at midnight 12:01 AM

        Reply
        1. Siddharth Post author

          ICICI Coral always works for me (both credit & debit) at the times i book. Looks like they have more quota than Indusind Credit Cards.

          Reply
  12. Siddharth Mehta

    I’ve been using this card for about 2 months now.. The rewards are pretty good and lounge access benefits are damn good as well. I took it under 10k offer where you get 10k worth vouchers too. I upgraded from Platinum Aura to this card and was able to pay off the 10k + GST mostly through my points on Aura card.

    They come up with random spend based cashbacks now and then , which is pretty good. They were running a offer where in you had to spend on Sundays and get 10% cashback upto 500.

    Like some others have mentioned, the big problem is that Indusind related offers doesn’t work on this card sometimes. Zoomcar has 20% off for weekday rentals when you pay using Indusind card, but that works only for their VISA variant cards sadly.

    Reply
    1. Siddharth Post author

      Well said, and did you try to get both cards? Visa+Amex
      Some seem to have success with it.

      Reply
      1. Abhishek Roy

        Well, we were also given an option to get both cards. But we rejected the idea as the Credit Limit in each card is exactly half of the actual credit limit. They split it. They don’t share. Suppose your credit limit is actually 1 Lakh. What they will do is they’ll give ₹50K on each card. That way you won’t be able to purchase any item which has a price say ₹60K. This was the reason we declined that offer and instead went only with the AMEX variant.

        Reply
        1. Siddharth Post author

          Okay, i get that. Maybe we need to explore the LE part to make best use of dual cards.

          Reply
          1. Harshal

            Even I was given an option to get both cards but I rejected after understanding that the credit limit will be exatly half on each card. As of now asked for Amex card, hope to get the same varient.
            Got first not so good experience with Indusind when I got a call from bledart to deliver my card. But turned out that he was at wrong address because the delivery address mentioned on courier was wrong. Checked with customer care and looks like they had my communication address wrong for all this time during card application processing. Atleast permanent address was write. Asked to updated communication address. Strangely they say it will take 10 days to verify the address. Seriously! what did they do when they verified my address in first place.

          2. Siddharth Mehta

            At the time of providing the documents, I did ask if they could give me both cards but they denied it. They actually tried giving me the VISA one upfront but I knew that AMEX variant had better rewards and hence chose the same.

            I wouldn’t have had a problem if they split my credit limit in fact. I have 3.15 lakhs on my current card. Let me call their phone-banking and see if they are ready to do it now.

      2. Manu

        I got both the cards but the cards are completely separate. There is no dynamic limit. My limit of 2.4 was broken to 1.2 each.
        The payment for both the cards too needs to be made separately. So one needs to be careful while making payments.

        Lastly, only one CC is visible on the app

        Reply
  13. Rushabh

    Which card would be better if I simply need lounge access for add on cards?

    I already have amex gold charge, yes preferred, ICICI coral (planning to stop), hdfc Moneyback (planning to stop in few months).

    Reply
      1. Rushabh

        I saw on their site that they have Iconia Visa too. Wouldn’t it be better as it seems it provides priority passes. Complimentary too. And won’t have acceptance issue since it’s Visa. Anyone used this card?

        Reply
  14. jitendra saraogi

    i am not able to pay by my Jet Airways ICICI Bank Coral American Express Credit Card although bookmyshow offer is availed but i am not able to complete the transaction due to new field of pin code just below cvv.

    i have tried all pin codes/pin nos. but in vain.
    if anybody can help in this regards,i will be highly obliged as i have written to bms/amex/icici but no solution as yet.

    Reply
    1. Siddharth Post author

      I remember My Jet Sapphiro Amex went through once. Not sure if its a recent issue.

      Reply
    2. ashu

      I had raised Complaint of Non-Usage of IndusInd Iconia Amex on Amazon…. ( & BMS)
      Customer care replied:

      ——————————–
      According to the RBI guidelines, we process domestic online transactions after validating the e-Secure password or the One Time Password (OTP).
      However, American Express has started processing online transactions of Amazon, BookMyShow and few other Merchants basis the Pin Code authentication.
      Hence, for security reasons, you will be unable to transact on the referred Merchants Websites/Mobile Apps using your IndusInd Bank Iconia American Express Credit Card.

      We regret the inconvenience caused and look forward to your continued patronage.
      ———————————

      No resolution… Just a Regret !!

      Reply
      1. Siddharth Post author

        Yes, they say the same for quite some time. Seems Amex backend is not allowing this to happen for some reason. Hope they fix soon.

        Reply
  15. Chaitanya Varma

    I have been using this card for past one year and my experience has been good so far. I had same initial niggles while linking card in netbanking, had to write to their Customer care to link it. However the mobile app is great though so I don’t bother using netbanking at all since the App is so exciting and tempting to use.

    The card doesn’t work in Amazon, I talked to CC representative and he confirmed that it doesn’t work. Very strange as Amazon accepts Amex, but NOT co branded Amex may be.

    Apart from that, its a great card to use and has been my primary go to card till date. I have a doubt though, LTF means no annual fee until card expires, and after that how would it be? Again should we pay joining fees for another term? Or will the bank keep it renewing for free until its cancelled?

    Reply
  16. ND

    This card not working on Amazon was the only reason I opted out and went for Pinnacle instead. Have a good limit on the card. It is my No. 1 card for all online spends (substantial) which earns 2.5%. For anything else I use DCB and Yes Preferred (when DCB doesn’t work).

    Reply
  17. balaji

    Going by the comments, looks some had bad experience with IndusInd, getting Amex and Visa cards.
    I will share my experience here :

    I have applied for Iconia Amex card on April 2017. I got the card in about 2 weeks. Later in May they themselves called me to issue the Visa card for which I agreed and got that card too. They told that the credit limit gets split equally (half) between these cards.It didn’t bother me as 1 Lakh limit per card is fair enough for me. I didn’t find much value in the welcome offers, so I opted for 3,500 INR (exclusive of 15% service tax)fee with no added welcome benefits. In just 6 months span I have earned about 4,500INR cashback (regular + 10% Amex Sunday offers) that compensates my joining fee. Like Sid I too faced network down issue twice. But overall, quite a good experience.

    Reply
    1. Siddharth Post author

      Thanks for dropping by Balaji. Yes, 10% Amex Sunday offers/Diwali offers are quite useful in getting value back on the card!

      Reply
    1. Balaji

      Where did you see that? It is 3500. I too mistook it, reading in Bank Bazaar

      Reply
  18. Jayesh Kumar

    I used Axis Vistara Infinite Card, with loads of benefits for now. For 10,000 + GST as joining fees, you get 1 Business Class ticket voucher (approx. price 30K).
    1) Gold membership to Vistara Club, giving you access to lounges for all Vistara flights.
    1a) As you get upgraded to Gold Level, you get 4 Upgrade Vouchers (can be used to upgrade your premium economy ticket to business class) and 4 Lounge Access vouchers (can be used by family members, currently Vistara has lounge in Delhi only).
    2) 3 CV points for every 100 spends.
    3) 10,000 CV on spend of 1 Lac
    4) 3 more business class ticket vouchers for 2.5, 5, & 7.5 Lacs spend.
    5) Vistara redemption points are lower compared to other airlines.

    Only drawback is Vistara doesn’t have direct flights to many places and limited cover. Most flights go via Delhi (their hub). So if you are based in Delhi then this card is definitely worth it.

    Reply
  19. Ram

    Sid, help pls.. I’m trying to search for a comment from Ramprasad in one of your articles where he shared a yes bank rep’s contact details with me. Unfortunately the search doesnt search in comments. Is there a way you can search comments with your administrator access

    Reply
    1. Siddharth Post author

      Here you go:


      RM details are –
      Mr. Isaac
      Mobile: +91 79754 72142
      WhatsApp: +91 94207 30371

      Hope it helps.

      Reply
  20. S R Nair

    Hi Sid,
    You are doing a great job on this site…Keep up the good work. Also, the other readers have made it a really interactive forum. Cheers everyone!!
    I would like your and other readers’opinion on upgrading IndusInd card, I have Platinum Aura card and they are offering me Iconia or Platinum. What would you suggest? Are there any other card that I can opt for?
    Also, my CIBIL score is just over 800, will upgrading the card cause major reduction in points.

    Reply
    1. Siddharth Post author

      Iconia Amex/Pinnacle are good. Its all about how much you spend and how much you’re willing to pay for annual fees.

      Reply
  21. ashu

    Were there any Offers around New Year last year on this Card ??
    Any old users can share pls,

    Reply
  22. DR.HARDIK PATEL

    Hey sid, i want to ask that how many add on card or supplementary cards we can have free for indusind amex iconia card? Also like indusind pinnacle or signature vaiant, how many addon card they give free? Please reply…thank you…

    Reply
    1. Aditya Date

      Just enquired with the bank… you can have 2 add on cards for Iconia

      Reply
  23. DR.HARDIK PATEL

    Thank you aditya for your sincere reply…i think abhishek roy mentioned in one of the post related to indusind amex iconia that his brother had three add on cards for his family so little bit confused…let abhishek clarify about addon card…

    Reply
    1. Ashish R

      CC told me, you can do 1 + 5
      That means Primary card holder + 5 addon card holders

      Reply
  24. Bibhash

    If you have Iconia AMEX card then you can get Icoinia visa for free with split limit.

    Reply

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