This article is outdated. kindly refer to the latest review of IndusInd Pinnacle Credit Card.
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.
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?
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.
- 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.