37 thoughts on “Updates and Changes to IndusInd Exclusive Account and its Debit Card

  1. Amex Guy

    I don’t know much about IndusInd, but I have an Iconia and they opened a current account (Indus Blue, I think) basically because nobody at the branch knew how to go about a card application for non-customer. Does Iconia qualify me for a Select thing too?

    Reply
    1. Abhishek Roy Post author

      Well, you don’t need an account (Savings/Current) to get a credit card from IndusInd Bank. My brother too din;t have an account but still got the card. So don’t worry. Till you are okay with paying the joining fees for their cards, they don’t create much fuss about approving the card.
      For your second question, NO Iconia does not allow you to hold the Select Account. As you can see only, Signature, Legend and JP Odyssey is eligible.

      Reply
      1. Manu

        Please share the link where this is mentioned.
        The customer care is unaware of this..

        Reply
        1. Abhishek Roy Post author

          It’s all present on their website and terms and condition, charges documents.

          Reply
    2. Jay

      You qualify for the Maxima Account if you have Iconia card. You can also choose your own account number.

      Reply
        1. Jay

          They are offering zero balance accounts however only condition is that you will have to start a RD or have an ACH Mandate or any SIP along with opening the account.

          Reply
      1. Manu

        The Branch said, the offer is not for all but there is a selected list of people pre qualified for this offer.

        Further, there is no offer For Indusind Iconia…

        Reply
  2. Aman

    Hi

    Are earning rewards point per 200 the same as was for 100 earlier???
    Is the earning maximun rewards points per month the same???
    Is there still zero makup on forex for the exclusive debit card???

    Please update regarding the same.

    Reply
    1. Abhishek Roy Post author

      Yes the basic reward structure is the same. The only difference is you earn points per ₹200 instead of per ₹100. Maximum reward points that you can accrue in a month through VISA Signature Card is 3000 points. Zero mark up fees is still there for Exclusive Signature Debit Card.

      Reply
      1. sanjay

        Hi Abhishek Roy,
        now as per 6x structure, you have to spend 80k to get 2000 reward points. and each reward point is 0.35 paisa. Before it was 46k spend and get 2000 reward points, and each points is 0.50 paisa.
        so now giving return as 0.88% as compared to before it was 2.6%.
        Drastic devaluation in the history.
        In my opinion close the account as soon as possible.

        Reply
        1. Abhishek Roy Post author

          Yeah, Let’s see how it goes. As of now I’m keeping the account but don’t know for how long.

          Reply
  3. KK

    My bank statement also carried a news that the value per point is getting revised from 1 Oct onwards. Here are the wordings

    “Effective 1st October 2017, the IndusRewards accrual structure & point to rupee conversion rates will change and the revised point to rupee conversion will be applicable for all IndusReward
    points accrued on or before 30th September 2017.”

    Seeing the trend, it can be guessed that the points will be devalued from Rs. 0.50

    Reply
    1. KK

      The prediction came true. All goods and gift cards of Rs. 1000 denomination are now available for 2974 points, which were available against 2032 points until 30 Sep.

      Reply
      1. ND

        And I was about to get Exclusive account with one of their credit cards being offered (Pinnacle). Now thinking if I should open relationship with Indusind with Exclusive & Pinnacle… Any views?

        Reply
          1. Abhishek Roy Post author

            ICONIA AMEX remains untouched as per website. But their VISA variant is affected.

  4. Aman

    Viewpoint:

    If one wants best forex with zero markup one may opt for the Master Card World Exclusive debit card variant which gives better lounge options and better forex rate than the visa variant…

    Deos indusind still issue this? Or only visa???

    Reply
      1. Abhishek Roy Post author

        Newer options like VISA and MasterCard Contactless cards are also on offer I guess.

        Reply
  5. DEBBARMA

    Last month in NCR, IndusInd Bank allow me open exclusive savings account with Master Word exclusive debit card (not free one) only after reaching credit limit of Rs 100K+ with Iconic AMEX credit card. Swap the great Iconia AMEX with Indusind Pinnacle Credit Card Review (Mastercard) @ 50K (offered)

    Credit limit 100K+ is an eligibility criteria if u hold their premium CC.

    I have share such program under ” Indusind Pinnacle Credit Card Review (Mastercard)” to Mr. Sid on 03 Sept17 hoping he do more inside story write up.

    (Change of mind came after knowing that card is still not accepted at amazon.in & some fraud transactions of approx. USD 9 happen to me stating merchant named: COLORADO VALLEY CELLTELILA GRANGE789)

    Reply
    1. Abhishek Roy Post author

      I’ll really like to know if this is even possible. 100K limit is not much. It’s just 1Lakh. This seems interesting to me. Do let me know any proof or resources if available.

      Reply
      1. DEBBARMA

        Talk to IndusInd Sr. customer care executive.

        We are working in PSU, most of colleague have CC limit 6lac + in other cards like HDFC CC, Citi CC however limit offers was 60K to 75K for aura, platinum, signature card (all LTF Card)

        Reply
        1. Abhishek Roy Post author

          Ok. First let’s see if I get the card or not and if yes then how much limit am I offered.

          Reply
  6. Ram

    But even after these devaluations, Indusind Visa signature debit card is still the best debit card in the market. No other bank has 5x program on debit cards

    Reply
    1. Abhishek Roy Post author

      Well, there is no point in accumulating points if you can’t redeem them as per your convenience. However the card does hold value still.

      Reply
  7. joal

    i am an NRI . when i went to Indus Ind branch in trivandrum today to see if i could open an NRE account with the zero markup fee card , i was informed by the branch that this card is only for resident indians . 🙁

    Reply
  8. KK

    Seems the cash redemption option is back. Though the site doesn’t mention how much is each point worth, like they used to earlier.

    Reply
    1. Abhishek Roy Post author

      Yes, I’ll update the option accordingly. I too redeemed my points today. Will update once I know that value of each point.

      Reply
  9. KK

    It’s 35 paisa per point. It’s on their website under features of debit card.

    With max 6 points per Rs. 200, this reduces the realisation to 1.05%, that too for transactions above Rs. 40000 on the amount which is Rs. 40001 onwards. Not worthy for any debit card transaction, except maybe foreign currency transaction.

    Reply
    1. Abhishek Roy Post author

      Yeah came to know yesterday. Will update the article soon.

      Reply

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