New: Indusind Bank Signature Legend Credit Card Review

By | March 11, 2017

Indusind Bank has recently launched a new credit card to their portfolio under Visa Signature variant and called it as Legend Credit card, in some places they also mentioned it as Signature Legend credit card. This appears to be positioned anywhere between Pinnacle credit card and Signature credit card variants but is infact better than Pinnacle credit card if used with a strategy as mentioned below.

Its a Paywave/Contactless Card and it seems the card number is not embossed on top of the card, that’s what their image says atleast, as below,

Indusind Bank Signature Legend Credit Card

Joining Fee: Rs.10,000+Tax

Indusind is not transparent when it comes to joining fee, but i came to know that this card is available for Rs.10k or Rs.25k and you get equivalent shopping vouchers. You may loose what you pay as taxes though. They seems to be issuing below vouchers now,

  • 10K Pantaloons voucher
  • 10K UCB voucher
  • 10K Woodland voucher
  • 10K voucher
  • 10K Hidesign voucher

Good to see new set of brands with indusind these days. Yatra voucher is best fit for those who fly often, else, Pantaloons/UCB/Woodland gives good value for money as well.

Indusind Bank Legend Credit Card Reward points:

  • Weekdays: 1RP/Rs.100 (1% value)
  • Weekends: 2RP/Rs.100 (2% value)
  • 1 RP = Rs.1
  • 4000 bonus reward points on spends above 6 lacs from the card issue date. The bonus points will be credited post completion of 1 year.

So if you can spend 6 Lakhs in a year, all on weekends, this is what you get: Rs.16,000 as cash credit (Rs.12,000 Regular points + Rs.4,000 Bonus Points)

That’s about ~2.6% Reward rate which is almost equal to Pinnacle credit card that’s issued @ a whooping Rs.50,000 Joining fee. So if you can spend with the above strategy, you no longer need the Pinnacle card. Simply get the Legend card 🙂

Airport Lounge Access:

Though they’ve mentioned “You can also enjoy free visits in a year to international Lounges located within India and abroad.” in their website, there is no proper info on that. In meantime, they’ve recently added free Priority pass visits to Pinnacle card.

Foreign Currency Mark-up Fee:

Enjoy a partial wavier on Foreign Currency Mark-up on your Foreign Currency Transactions till 31st Dec 2017.

  • Foreign currency mark up will be charged at 1.8%
  • Discounted Foreign Currency Mark-up is applicable for transactions done till 31st Dec 2017
  • The foreign currency markup will be charged at 3.5% and the differential amount will be credited end of calendar month on the cardholders card account.

That’s a nice move on Forex Markup fees, this feature makes this card to the list of best credit cards for international use.

Other Benefits: Golf Access, Roadside Repair Service, Concierge service

Features of Indusind Signature Legend Credit Card:

  • CardExpert Rating: 4/5
  • Reward rate: 1% to Upto 2.7%
  • Complementary Airport lounge access: Yes, at Visa Signature Lounges (2 free access/quarter)
  • Foreign Exchange Markup fee: 1.8%+Tax until Dec 2017 (3.5%+tax after that)
  • Fuel Surcharge Waiver: Enjoy 0% surcharge (Transactions between INR 400/- to INR 4000/-)

With a decent reward rate and a nice spend based bonus, Indusind Bank Signature Legend Credit Card is a pretty nice offering with the kind of joining fee they have. However, you need to spend only on weekeneds to get the maximum value back, which makes it little bit tricky.

What’s our take on the new Indusind Bank Signature Legend Credit Card? Share your thoughts in comments below.

27 thoughts on “New: Indusind Bank Signature Legend Credit Card Review

  1. balaji

    For me, it seems Iconia is better than this in terms of joining fee and reward rate. What is your say Sid?

    1. Siddharth Post author

      It is indeed.
      But if there is a reasonable upcoming spend on these voucher brands, its good to go on this as well, mainly for low markup fee.

  2. Jay

    Bank guys called asking me to upgrade to this card even though I upgraded to Iconia Amex just last month. They offered me to convert my existing 5k points on Iconia Amex as a joining fee for this Signature Legend Card. Plainly refused!!!

    1. Siddharth Post author

      Nice, Whats the special feature you’re enjoying with Iconia?

      1. Jay

        Iconia has better rewards compared to this however only ripe is AMEX is not accepted like VISA everywhere and doesn’t accept AMEX cards issued by other banks

        1. Unlimited Lounge Access for Both Primary and Addon Card Holders
        2. Separate Business Card Addon for your Business
        3. Reward Points of 2% for spends on weekends
        4. Low joining fee compared to this new Signature Legend card.

        1. Anil

          You can always load prepaid cards by Amex & then use on Amazon
          Load Oxigen wallet, generate VCC & use on Amazon

          1. Ram

            One additional benefit in Legend is 4000 bonus points for 6 lakhs+ spend every year which makes up for one time fees and also .5% you get extra for Iconia

  3. Ramanathan Srinivasan

    Got a call , they offered to upgrade my platinum to legend for 7500+ tax and no voucher . They said 10k scheme is not there only 25k with jet voucher . Also, lounge access is only domestic and not for international. The 4000 reward point for 6 lakhs is applicable every year and not one time. Seriously thinking of upgrading instead of signature card which is 10k without vouchers

    1. Siddharth Post author

      Yes it seems 10k introductory offer expired last month. Instead spending here, you can also get Yes Preferred card/Regalia for free.

      1. Ram

        Hi Sid,
        My average spend is around 20 lakhs a year as I use it for business purpose too. I like using rewards to pay back card balance then storing miles etc. Does Yes Bank or Regalia offer better cash back reward than this?

        1. Siddharth Post author

          Checkout the super premium cards article 🙂

        2. Pradeep

          Spending more than 2 lakhs..on Credit cards would initiate AIR Na how come u use for business can u please explain…how u handle IT guys …curious to get answer from u…

  4. Manikandan

    Cash Advance fee is zero. For international travellers this will be very good. No need of forex card. You will be paying 1.8% extra above the spot rate.

    1. Siddharth Post author

      But Finance charges applicable on cash withdrawal.

  5. Ram

    The legend card is now available either at 9999 + ST or 25K with Jet Airways voucher, all other offers removed. Though I had opted for 7500, they are now asking me to pay 10K+ ST, seriously thinking of closing indusind and moving out

  6. AS

    Hi Sid,
    I had a question about Indusind credit card. I got a call from their sales guys and he offered me a LTF card for Indusind Platinum credit card. He sent me a brochure and the card looked good.
    Do you have any knowledge about this card? I combed through the website, but I did not find a review. Very little is available elsewhere too.
    Due to the bad reputation of IndusInd, I’m hesitating about it.
    Do let me know!

    1. Siddharth Post author

      Its a basic card. Will review it shortly.

  7. himanshu garg

    I want to know, if the existing credit cards scheme once taken can be abolished by the bank anytime or tthis will continue for lifetime
    i am considering to buy signature legend card but they are asking for 24k to join i as lifetime fees
    shall i join

  8. Prabhakar Agarwal

    I have a indusind legend card and I m using it for business purposes, I heard it from somewhere that’s its not good to use it for business purposes as Income Tax Department can ask questions, is it so?

    1. Siddharth Post author

      Ofcourse! Will explain more in detail in a separate article.

  9. Arjun Mahajan

    Just applied for the Legend card today. IndusInd is running a promotional offer where all new cards and existing IndusInd credit cards (lower variant) can be upgraded to the Signature Legend at Rs 6,999 + taxes (18%) as a one time joining fee. No welcome benefits provided though.
    Joining fee with welcome benefits remains same at 25k + taxes (18%).

    Got it from the home branch directly. Was not able to check if it works for the online application as well.

    1. Siddharth Post author

      7k+GST is too much for this card!
      Any particular reason you opted for this?

  10. Arjun Mahajan

    1. The cash credit is quite rewarding in the current landscape after various devaluations from other banks. Effectively a little over 2.5% if done on weekends and achieving 6L spends a year.
    2. Plan to split the overall expenses between the cards I hold currently i.e. YesFirst preferred, Amex Gold & Platinum and the applied Legend.
    3. Cash credit on Fuel spends as well along with a Fuel surcharge waiver. Handy for the heavy fuel consumptions I have in a month.
    4. I use the golf benefits regularly given by the Mastercard powered YesFirst preferred. Plan on using the golf benefits given by the Visa powered Legend for a few other golf courses not covered under Mastercard occasionally.
    5. BOGO tickets on Bookmyshow (3+3 in a month) is a handy feature to take the family/friends out for a Movie.
    6. Support from Indus Exclusive customer support is prompt and apt if ever needed. Not as courteous as the Amex people but they get the job done. Also, the physical bank is walking distance from my place of work, if any support is ever needed.
    7. Entry to Visa Signature with the hope to upgrade to Visa Infinite in the future.

    1. Joining fee is indeed extremely high. Convinced myself to get it cause of the cash credit I had generated over the last one year from Indus Exclusive Platinum Debit card.
    2. The online/offline tie-ups for cashbacks and rewards are less in comparison to other banks. Hopefully, they get aggressive soon with it in future.
    3. Their lounge program is a mere formality. But the YesFirst preferred & Amex Platinum are there to balance it out for both Domestic/Internation lounges.

    Will be able to share a better review after having used the Legend card.

    1. Siddharth Post author

      I get it. But it seems they’re removing cash credit option on credit cards. They’ve already removed for debit cards from August 2017.

  11. jitendra saraogi

    i am having indusind platinum select card with Rs.3 lacs limit since 2013.
    which indusind card should i try for upgrade.
    please suggest.

  12. Anish

    Is there an annual fee apart from the joining fees? The executive told me there is only joining fee and no annual fees, is that true?


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