In this article, we delve into a comprehensive review of the IndusInd Pioneer Heritage credit card, exploring its rewards and benefits in detail.
Eligibility criteria
The primary prerequisite for applying for an IndusInd Pioneer Heritage card is establishing a pioneer banking relationship. Achieving this exclusive relationship with IndusInd Bank entails meeting the following criteria:
AQB requirement: Maintain a combined balance of ₹10 lakhs in savings and current accounts.
NRV requirement: Accumulate a total net relationship value of ₹30 lakhs across all investments, with a minimum of ₹1 lakh in the savings account.
Fees and charges
Joining fee: ₹1,80,000 + GST (Lifetime Free) or ₹90,000 + GST
Annual fee: ₹25000 + GST, and spend ₹10 lakhs to get the full waiver on this card.
Fuel surcharge waiver: Enjoy a 1% surcharge waiver on all transactions across all fuel stations between ₹400 and ₹4,000.
Interest rates: A monthly interest rate of 2.99%, equivalent to an annual rate of 35.88%.
Features and benefits
Welcome benefit: Upon joining, you’ll receive the Oberoi e-gift voucher, note that it holds a validity period of 6 months from the date of issuance. Each voucher allows you to redeem up to two vouchers for a single stay reservation. Additionally, revel in premium access to over 30 luxury brands with luxe gift vouchers valued at ₹5,000. These luxe vouchers also maintain a 6-month validity, allowing multiple redemptions up to the cash limit specified on the voucher.
The fee you pay when you join is balanced out by the vouchers you receive. If you find it too much, you can talk to the bank, especially if you have a good relationship with them. They might lower it for you.
Rewards benefit: When you use your card for international transactions, you earn 2.5 reward points for every ₹100 spent. For domestic transactions, every ₹100 spent earns you 1 reward point.
For utility bill payments, insurance premium payments, government services/ charges/payments, education institute fees, real estate/rental payments transactions, every ₹100 spent earns you 0.70 reward points, which is applicable to both domestic and international spends.
Rewards redemption: The accrued reward points offer flexibility for redemption across various options, including the Indus Moments reward portal, AirMiles, and statement cash credits. For cash credit and AirMiles redemptions, the minimum requirement is 500 reward points. However, the redemption is capped at a maximum of 30,000 reward points per statement cycle. There is no reward redemption fee.
| Redemption Methods | Value Per Points |
| Airmiles Club Vistara | 1 CV Point |
| Cash Credit or Statement Cash | ₹1 |
| Indus Moments | You can redeem your Reward Point Accumulated at Indus Moments Reward Portal for special gifts/vouchers which is valued at ₹1 per point. |
Movie benefit: The Pioneer Heritage credit card offers a compelling movie experience, providing a buy 1 get 1 offer on BookMyShow. Each movie ticket discount is capped at ₹300 per transaction and is valid on all days.
Additionally, cards extend a non-movie booking perk, granting up to 20% discount on non-movie events, up to ₹700 per transaction or per card per month, the non-movie quota remains unchanged at ₹2,600 for the year. However, movie quotas and non-movie quotas are independent of each other. One user can avail one of both in a month, subject to the monthly benefit cap of ₹1000.
Dining benefit: The Pioneer Heritage program offers an exclusive dining privilege, providing a yearly discount of up to ₹3,000 on your total bill amount at select partner restaurants. To avail this benefit, visit indusmoments for bookings. The maximum discount is subject to ₹3,000 on your Pioneer Heritage card. Please note that this offer is not applicable to home deliveries.
Travel benefits
Domestic and international airport lounge access: The card offers unlimited access to both domestic and international lounges. Meanwhile, the Pioneer Heritage credit card provides 8 complimentary domestic lounge accesses annually (2 per quarter) at selected airports.
Additionally, the complimentary LoungeKey membership associated with the Pioneer Heritage credit card grants access to 8 international lounges each year (2 per quarter).
Golf benefit: Primary cardholders receive 12 complimentary rounds (3 per quarter) at selected golf courses annually. Additionally, enjoy 4 complimentary golf accesses for guests, limited to 1 per calendar quarter. Benefit from 12 complimentary golf lessons at select courses, with a maximum of 3 lessons per calendar quarter.
In conclusion, the IndusInd Pioneer Heritage credit card stands as a premium choice for discerning customers, offering top-tier features and privileges. Its sleek metal design adds to its allure. With 2.5 reward points on every ₹100 spent internationally and 1 reward point on domestic spending, the card provides attractive benefits. Multiple redemption options, including cash credit, AirMiles, and IndusMoments, enhance its versatility. While the joining fee may appear high, a spend-based waiver on an annual fee for ₹10,00,000 expenditure mitigates this.
Rohit Gyanchandani is Managing Director at Nandi Nivesh Private Limited
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Published: 15 Feb 2024, 11:23 AM IST