Indusind Pinnacle Credit Card Review (Mastercard)

By | February 14, 2017

Indusind Pinnacle Credit Card is one of the top tier card and is positioned below Indulge Credit Card in Indusind Credit card portfolio. If you spend a lot online, this is the card you must have in your wallet, though it has a major downside of strict joining fee which is pretty high. Though, you can breakeven and get some savings if you spend a LOT, in the range of 20L or more in a year. For others, it may not be of any use.

Indusind Pinnacle Credit Card Review

Joining Fee: Rs.50,000+Tax

I had a very long discussion on this joining fee part with the branch manager and its sad to know that they can’t waive it off no matter how loyal customer you’re to the bank. Interestingly, they also sell the same card for 1L fee or even more as they wish.

While you get Jet Airways vouchers (or) Genesis Luxury Shopping vouchers as a welcome gift, the value proposition is too bad for the one who doesn’t prefer highly priced luxury products.

Indusind Pinnacle Credit Card Reward Points:

  • 2.5 Reward Points for every Rs.100 spent online (2.5% Value)
  • 1 Reward Point for every Rs.100 spent at the POS (1% value)
  • 1 Reward point = Rs.1 (for cash credit on statement)

Quite a nice rewarding card and the fact that you can convert the points to cash is an awesome thing. I see it as rewarding as Infinia even though its 0.8% lesser, the ability to get the value directly as cash makes it to be in par with Infinia in my point of view. Its better rewarding than Yesbank Exclusive card as well.

As its very much rewarding on online spends, they recently added new rules and limits as below 😀

  • The maximum reward points that can be redeemed in one statement cycle is 25,000 reward points for Cash Credit option.
  • Effective 1st February, 2017, online travel and airline transactions will be excluded from e-commerce category for the purpose of rewards earning.

One Night Complimentary Stay at Soneva Resorts:

I checked their website recently to find this awesome jaw dropping offer wherein you get one night complimentary stay for a couple either at Soneva Kiri, Thailand OR at Soneva Fushi, Maldives starting 15th July 2016 – 30th April 2017. (maybe extended). Who doesn’t wanna stay in a resort like this?

Soneva Resorts Pinnacle card offer

After seeing this offer, i was quite convinced to pay even 50k fee but if you look at the terms and conditions of this offer, you’ll find that need to to pay the Gov. taxes, etc to avail this complimentary night. To check the approx fee, i called up customer care to know more and came to know that you need to pay a whooping fee of about $440 as tax to avail this complimentary stay.

I was like WTH and then figured out that the resort costs around $2000 for one night if you wish to pay from your pocket. I wonder who the hell is spending this much $ for a mere 24 hrs stay.

Airport Lounge Access:

You can also get 8 free visits with Priority Pass if you pay Rs.5,000 fee under their “Travel Plus” program. You can rather get HDFC Regalia credit card if you’re after Priority pass.

Other Benefits:

  • Golf Access (4 complimentary Games/month)
  • Roadside Repair Service
  • Concierge service

Features of Indusind Pinnacle Credit Card:

  • CardExpert Rating: 4/5
  • Reward rate: 1% to Upto 2.5%
  • Complementary Airport lounge access: Yes, with Priority pass & Mastercard
  • Foreign Exchange Markup fee: 3.5% + Service Tax
  • Fuel Surcharge Waiver: Enjoy 0% surcharge (Transactions between INR 400/- to INR 4000/-)

As mentioned earlier, Pinnacle Credit Card is one of the best credit cards for high online spenders. For example, if you spend 20Lakhs online in a year, you get 50k as cashback apart from the welcome vouchers you received. I feel that’s kind of breakeven though.

Its best if you can spend like 50L a yr or so which is quite rare, but we do have some readers who wants to know which card to use for spends like few Crores in a yr, it maybe useful for them. Its basically for the one who loves Direct Cashback and for the one who wish to stay out of reward points game.

Whats your take on Indusind pinnacle Credit Card? Share your views in comments below.

Author: Siddharth

A Credit Card freak minting reward points and cashback for years, started adding Airmiles in recent times. Obsessed with aviation, airport lounges and luxury travel at affordable cost.

53 thoughts on “Indusind Pinnacle Credit Card Review (Mastercard)

  1. Bibhash

    I was thinking to call them regarding the joining fee of Pinnacle & Indulge card. You saved me lot of time. Thanks!!

    Reply
        1. Siddharth Post author

          I haven’t. Well, if you’re ok to pay 50k+tax, you should be eligible straight away.
          Apart from that no big requirements.

          No, i’ve no plans to pay 50k fee for now. 😀

          Reply
        2. Jay

          IndusInd cards are very easy to get if you are ready to pay their joining fee. Apply based on Card on Card eligibility and they will approve any card you wish to take.

          Reply
          1. Anwar

            Can you tell me card on card eligibility? I’m just asking, no where near to afford 50k/ year as credit card fee.

  2. Majumdar

    Siddhartha,

    The Product managers of IndusInd have to be loco – no one in his mind wud pay 50K for an IndusInd card- no more than anyone wud buy a 25 lakh car from Maruti, irrespective of how good that car might be. There is such a thing called a brand value. For the same price one cud buy a Amex Platinum. At half that price you cud get a Citi Prestige, better brand plus better value- unlimited lounge access for instance for a family of six.

    This is just crazy.

    Regards

    Reply
    1. Abhishek Roy

      BUT… There is a big BUT.. I heard what IndusInd charges is a ONE TIME FEE, whereas, for Citi Prestige, you’ll have to shell out ₹20K/annum.

      Reply
      1. Amex Guy

        The bigger but is that card reward systems of most Visa/MC cards devalue after 2 years. LTF really has no meaning outside Discover(or Diners) and Amex, where large transaction fee makes for more sustainable rewards programs.

        So 50K would not really last more than 2-3 years, will most likely be more expensive than Prestige. Also, Citi rewards programs are international (at least for Prestige and Premiermiles) and will devalue much slowly.

        Reply
    2. Abhishek Roy

      I think this card is overrated. The card is actually of no benefit if you do POS transactions (1% cashback). It is okay if you’re doing online purchases (2.5% cashback). At the same time even though they call it a Super Premium Card but no Complimentary Priority Pass Visits? Not done at all. I’ll place it even a lesser level card than HDFC Regalia if everything is taken into consideration. Besides, IndusInd doesn’t have any tie ups with sites like Flipkart, Snapdeal, Amazon or Myntra. Rather, banks like HDFC, Axis, SBI and Standard Chartered have such discount tie ups. If you really want a seriously good card, keep an eye on HDFC Infinia, HDFC Diners Black, Yes First Exclusive and Citi Prestige. These cards truly justify the title “Super Premium”!!!!

      Reply
    3. Abhishek Roy

      What you’re missing is it’s a one time fee. Amex Platinum require ₹50K each year.

      Reply
  3. Jitendra

    I had this card. The salesman got me into it.

    I was enticed by eight jet air tickets. But when I got the card there were two strange things

    a) The limit was two lacs, imagine paying 50k and getting two lacs limit.
    B) the jetcodes didn’t work very well. 90% days u cant book flights and its only for the first leg of flight.

    I fought hard with them and cancelled my card, got the refund.

    It took three months to cancel the card. Had to mail ED, Head Card Services, Nodal officer and explain them again and again. Finally, they refunded the money back. Avoid it in all cases.

    Reply
    1. Siddharth Post author

      Thanks for sharing your valuable experience. Yes, jet codes are mere useless, their genesis vouchers could be better but yes, wont suit to most people.

      Reply
  4. urluck

    How to use Complimentary Golf Access , provided by most Premium cards like Regalia, InducInd, Kotak Royale etc. ?

    Actually they are free for any walk in eligible credit card holder or it attracts some fees like – green fees or tax or some restrictions attached to it ??

    For this golf court offers, you need to know playing golf or You will get complimentary golf lessons also at the golf club ?

    Any one has availed this offers ??

    Reply
    1. Jay

      Even I want to know about complimentary golf access. Sid please guide us.

      @Anwar. Apply using any good card which you have a highest limit.

      Reply
      1. Siddharth Post author

        Have never tried it man, as its pretty far away from my place. Sure i’ll try once just for a review atleast 🙂

        Reply
        1. Harsh Prateek Singh

          Hi everyone. Saw a post about golf. I am playing golf since many years and hold a assortment of cards that lead me to multiple free games a month. All golf based cards have a Conceirge desk number, and all bookings for a game must be done through them. Also, for games on weekends, booking must be made 5 days in advance and for weekdays 3 days in advance. What they call a free game is basically a green fee waiver, and you must pay other course fee like caddy fee. Also, some cards require you to arrange a foursome, while others place you in a vacant spot. If you dont have a kit and proper course shoes, be prepared to pay a rental fee for that.

          Great blog BTW. I often go through it and appreciate the work!

          Reply
          1. Siddharth Post author

            Thanks very much for the info. The Blog needs more info on this topic, dropping you an email shortly 🙂

    2. Abhishek Roy

      This is the question of the week!!! I too couldn’t care any less about learning GOLF!!!

      Reply
  5. Athul

    Hi. Great blog sid. One of it’s kind. I’m a student. I just want to know is there any student credit cards? I’m not talking about the ones used by international students. I meant the cards used for domestic purpose.

    Reply
  6. DEEPAK GUPTA

    “if you spend 20Lakhs online in a year, you get 50k as cashback apart from the welcome vouchers you received”

    Sid, I really think you have dropped the ball on this one.
    If you spend 4 lakhs on Amex Platinum Travel, you get close to 16000 worth of indigo vouchers, and 10000 worth of taj voucher, 4000 worth of points. That’s close to 30000 worth of value back for the 4 lakh spend level. Remaining 16 lakhs if you spend on regalia, you get 25600 back as points, which are close to cash if you book air tickets. Essentially, doing this, you get more than 50,000 value back in cash equivalents without even spending 50,000 upfront.
    For this card to breakeven, it should have given more like 100,000 back on a spend level of 20 lakhs.

    Reply
  7. Anoop E S

    Dear Siddharth

    It will be great if you could review the Jet Privilege cards of Indusind.

    Thanks in advance

    Reply
  8. Sunil Srivastava

    I feel the card is highly over rated. I also got taken in by the sales pitch. The validity of free oberoi gift voucher worth 50 k was not extended as aasirwad in the sales pitch. Also free lounge access is a fraud. It provided only 2 access per quarter. Can you beat it you pay 50k as joining fee and get 2 piddly lounge access worth 2k over 100 days. Anybody sending 50k as membership suresh travels more that this. My advice to anyone looking at this card – AVOID. There are better cards with lower fee. Even if you gey a free card and pay fir lounge it will be cheaper.

    Reply
    1. Siddharth Post author

      I know someone who uses it to put spends (online) to the tune of a crore or so. Its clearly good for large spender who needs cash back instead of airmiles. For most others, it doesn’t serve the purpose.

      Reply
      1. DEBBARMA

        However if we have Indusind Pinnacle Credit Card (lets say we get it for 50K one time fee for LTF after great bargain or offer, which would be their lowest offer price) we can apply for their IndusInd Exclusive saving account through one of the program named “Relationship Value Required for Indus Exclusive WITH PREMIUM CREDIT CARD” program with Exclusive Signature debit card or mastercard world exclusive debit card to enjoy 0% Markup fee in International transaction. Mr. Siddharth has already brief us the benefit of Signature Exclusive debit card

        Instead maintaining AQB of 1lac or 2 lach deposit we can do lots in long or frequent journey to international destination + debit card rewards also.

        Reply
  9. Sunil

    I was told by IndusInd that it’s a one time charge. And not annual.

    Can anyone validate it?

    Thanks

    Reply
  10. DEBBARMA

    Let’s see it with different angle:

    if we have Indusind Pinnacle Credit Card (lets say we get it for 50K one time fee for LTF after great bargain or offer, which would be their lowest offer price) we can apply for their IndusInd Exclusive saving account through one of the program named “Relationship Value Required for Indus Exclusive WITH PREMIUM CREDIT CARD” program with Exclusive Signature debit card or mastercard world exclusive debit card to enjoy 0% Markup fee in International transaction. Mr. Siddharth has already brief us the benefit of Signature Exclusive debit card

    Instead maintaining AQB of 1lac or 2 lach deposit we can do lots thing in long or frequent journey to international destination + debit card rewards also.

    Not everyone like credit card in int spend & one exclusive for banking is worth

    Reply
    1. Siddharth Post author

      This is interesting and i never knew it. Will have a separate article on this once i explore more.

      Thanks for the share.

      Reply
  11. nithish

    SId, i never wanted to go for this card , I’m planning for a vacation for anniversary and OBEROI udaipur vilas is costing 75000 for 2 days in normal booking . Whereas if we pay 50000 joining fees I’m getting two night vouchers of OBEROI 🙂 . so felt ill get the card for free hence just this month upgraded.

    Reply
    1. Siddharth Post author

      That’s Wise. Totally worth it!

      And are you sure it includes “2 vouchers (1 night each)” ?

      Reply
      1. nithish

        Sidd, recieved my card last month and recieved vouchers yesterday. 2 nights booked for april . They charged me 50k + GST for the card. looks like its worth the upgrade.

        I asked them for 4 nights of oberoi for Indulge, they said they’ll can give a max of 2 oberoi vouchers, they said theyll comensate for genesis. but i said no as i’m okay with pinnacle as i have CITI prestige with infinite

        Reply
  12. Nithish

    Hi sidd , yes I have the email confirmation of indusind . They have three packages. .
    1. 1 lakh joining fees with three gifts ( 8 jet vouchers , 2 Oberoi vouchers and 2 genesis vouchers )
    2. 50000 ( choose between 2 vouchers of genesis or Oberoi .

    I’ve chosen for 2 nights of Oberoi and they confirmed 🙂

    Oberoi udaivilas is a palace and amazing hotel in middle of a lake . Total life time experience

    Reply
    1. Siddharth Post author

      Sounds good.
      Yes, Oberoi udaivilas – Indeed one of world’s topmost luxury hotels. Have a great time 🙂

      Reply
  13. Aman

    Hi

    I’ve read that for Indulge card reward rate is 1.5% and joining fee is Rs. 1,00,000/- . Forex markup is 3.5%. There may be other benefits but surely not enough to justify the fees. Only real difference is that you can get cash credit in your statement.

    Indulge card is a Rs. 1,00,000/- joke on whoever applies for it.

    Let me know what you think Sid.

    Reply
    1. Siddharth Post author

      I don’t see any unique benefit to spend on it. Not a card worth to be called Super Premium. They might tweak the product in coming months/years as it takes time for banks to know what the actual demand is and act on it.

      Reply
  14. Samir

    Hi Siddharth

    im Spending rs more than 20lacs online for that I’m using IndusInd pinnacle credit card .from this card I can redeem only 25 k per month.so please suggest me similar or better credit card FOR CASH BACK options only equal or more than 2.5 %.

    Regards

    Samir

    Reply
    1. Raulnayak

      I am not sure if you can count this as “cashback” but SBI credit card points can be converted into cash to the tune of 2000 Rps=Rs 500. If you can classify your spends and find the right card, you may be able to get unlimited “cashback”

      Reply
  15. Ankit

    Any update on this card? Is it still not worth it? Which is a good cc to have from IndusInd?

    Reply
    1. Mr. Verma

      Hi ankit,

      Iconia with Amex version is good.
      1.5% on weekday and 2% on weekend reward rate
      Unlimited lounge access on primary and add on cards in 0+ cities.
      First year fees is variable based on what you opt- Fees + voucher OR only Fees. NO RENEWAL FEES.

      Reply
  16. Miran Kumar Bose

    I had a Pinnacle card with eight jet airways ticket promo codes. I tried to book my tickets and even tickets beyond three months are sold out.Secondly the flights are via flights and are time consuming.You get direct flight at half the rates.This is a big scam.I never thought such upsetting experience.At Rs50,000 you get eight tickets and above all need to pay taxes.Is not it ?

    For the heck of it I tried to book tickets for myself and my wife for Goa in Jan 19 and found tickets are sold out.There is also a problem you need to use one code at a time and chances a fair that when you go to book second ticket for your companion it may b sold out and you are stuck.

    All these promo codes and membership in hotels and time share are big scam .Indudind will be equally blamed to tie up with Jet airways a society sinking ship.
    Waste of time and money to get the returns.ABIG SCAM.

    Reply
  17. Srinjoy

    Nice work Sid on this blog,
    Really informative. Keep up the good work.

    I have recently got this Indusind Pinnacle card as an upgrade from Aura ( Free Card) more to have the premium feel however their Aura Edge looks better with a slight 3D embossed finish.
    For a 50k joining fee their welcome kit is pathetic and comes in a cheap envelope. They also want you to download the pdf of the benefits of the cards and don’t give you the priority pass on default.
    The most logical voucher to take is the genesis ones as the Oberois you get only 2 nights worth of stay and in Jet you can only purchase domestic flights worth their base fare only.

    Also anyone who can afford a 50 K joining fee I am sure would mostly be eligible for HDFC Infinia , Yes First Exclusive or SBI Elite for a like to like comparison in the said order. All boast Great Welcome kits and host of benefits.

    Infinia renewal fee of INR 10,000 would be waived for a spend of > 8 lacs and they give 5 points per Rs. 150 which equates to 3.33% in rupees per 100 and also they give a 10X reward points through HDFC’s Smart Buy link if you buy online from Flipkart, Amazon, flight tickets etc, which equates to a whopping 33.3% return in value capped at 25,000 points for the bill cycle.
    They have unlimited Priority pass access globally for Primary and Add on family members.
    Vistara Gold Membership too.

    For Yes First Exclusive it is straight 10 reward points per 100, which equates to 2.5% in Rupee terms per 100. Moreover they have no joining and renewal fee and have a bonus points scheme for spend > 20 lacs.
    They have unlimited Priority pass access globally for Primary and Add on family members and best Forex markup rates. 1.75% or 1.99%

    Compared to these 2 cards the Indusind card does not stack up for value to price and is nowhere near to being competitive.
    The other decent card for reasonable Spends is the SBI ELITE as they too have bonus points structure and fee gets waived post 10 lacs of spend. Moreover they have numerous flat discount tie ups with Amazon etc.

    Reply
    1. Amex Guy

      I would not pay 50K for a card unless it is very apparent how I can easily make value back several times without much effort. If value back requires effort, then getting back 50K would require so much attention that it probably won’t be worth it.

      Also, if the way you like to get value is through rewards alone, then I’d stick to Diners Black + Prestige combination. Other cards you mention have short term offers which is OK but they are not consistent programs. The redemptions on Exclusive go bad each passing month. Diners is short term too but they are holding on well for a few years. Prestige/Amex Plat are consistent programs.

      With short term point offers/redemptions you can’t plan high value returns. For example, with my MR points this year, right before SPG/Marriott merger, I was able to book 5 nights in St. Regis Maldives over water villa for 240K points. The room costs $4.5K a night. That’s a 17% return on my Amex spend, along with an experience way too exclusive for my pay grade. Now if it was Yes bank, I’d never know when a redemption option will disappear so I can’t have a goal, and can’t actually redeem at higher than Re. 1 a point unless I’m extremely lucky. Considering your spends and ability to absorb annual fees, you should look at goal oriented higher returns.

      Reply
      1. Srinjoy

        Good Options ,
        Unfortunately I had to close my Diners as HDFC did not allow the same to be retained once I upgraded the Regalia to Infinia ( which I feel is the best currently in terms of reward programme). Other wise Diners Black is a very good card which is at par to Infinia albeit with lesser acceptance and credit limit.

        I recently closed my Amex Platinum ( Centurion) as they were not giving any further reward or benefits on the renewal of 50K +tax although I liked the card very much, however wasn’t able to utilize any major offer that year. Was given a Plat Reserve free for life in lieu. I would have continued had I received equivalent MR in return like Infinia give or had a spend based qualifier to waive the same.

        I clubbed it with a Gold reserve which gives 1000 MR on 4 swipes> 1000 INR and I can also settle my bill with the points and a combination with Platinum or others cards makes it a good combo.

        Btw the Indusind Pinnacle fees are only good if you redeem 2 nights at Oberoi Udaivillas as there you would get more bang for the buck. Else it leaves a lot to be desired. On telephonic discussion they blocked the Genesis vouchers for me however I want to go for the Oberoi vouchers as I initially thought they were giving one night stay instead of two.

        Have been offered the Axis Reserve now (by invitation only) 30k + tax per annum.
        I already have their Miles and More and Privilege card. Planning to close one. Axis Reserve seems like a decent card.

        What’s your take?

        Would like to connect with you better sometime.

        In fact would suggest Siddharth if you could start a small WA group, if possible for serious card users/ enthusiasts to discus best offers around.
        Cheers!

        Reply
  18. M K Bose

    It was a decision to regret to get a Pinnacle card with 8 Promo codes of Jet airways.
    Unfortunately tickets are never available as it shows “Sold Out” even in dates of February 2018.
    It is very unfortunate that to sell INDUSIND cards you tie up with organizations where in you very well know that once card fee is collected let the card holder suffer.
    The word Tickets shall be subject to availability is the right word to absolve all your follies.
    I tried various options and tickets are just sold out .
    THIS IS A SCAM like any other scam.
    I am not going to sit tight and digest this and will surely take up the matter at different forum.
    Those who are trying to get the card think as you will never get a reservation confirmed to your choice,moreover if you need to book tickets in next 15 days you can buy atleast 16 tickets in the same amount than why to wate time in using the codes.
    IT IS BIG SCAM LIKE TIME SHARE,JUST TYPE FRAUD and you will know.

    Reply
  19. M K Bose

    My experience with Pinnacle credit card issued with 8 promo codes for Jet Airways tickets is pathetic.

    All tickets are sold out and you waste your time looking for tickets with odd dates making the exercise waste.

    Those who are going for the card and paying Rs 50000 be cautioned that you will never be able to utilize the codes.

    THIS IS A BIG SCAM LIKE TIMESHARE.

    BETTER BE IN PEACE<you cn always book dozen of tickets with the same cost to your choice of sector and date.

    Do not waste your time in going for the goodies with Pinnacle card, there are better place for charity. INDUSIND just wants to give promo codes knowing well that it can never be used a good pact with Jet airways fooling customers.

    Reply
  20. Lokesh agarwal

    Hi Siddharth,

    I have been going through your website and it provides a lot of information a person require for using a credit card wisely.
    I myself have a lot of credit cards and I spend a lot on credit cards around 8-10 lacs per month.
    I want to know the credit cards which provide the best milestone reward benefits based on spending.
    There is no link which provide the same. I suggest you provide the link, like for example you have links for best card for international spend.

    With regards.
    Mr. Agarwal

    Reply

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