Thursday, April 04, 2013

My experience with IndusInd Platinum Select Credit Card

A few months ago I visited local branch of IndusInd (Bathinda) for a credit card and the manager explained that it cost Rs. 3500 as a joining fee and nothing else; so I applied on the same day (primarily as an online payment mechanism for forthcoming overseas trip). Manager said it comes with complimentary Jet Airways ticket, but as I presumed, the so called "ticket" is a voucher code for Rs 1500 discount on the base fare. Base fare is normally Rs. 1 for domestic airlines in India (fuel surcharge comes almost 95% of the total fare); so in order to get that Rs. 1500, you gotta purchase 1500 airtickets! Sites like have been offering this sort of deceptive tactics for such a long time!

I received the kit with credit card in couple of months and I spent sometime to read "Most important terms and conditions" booklet (I am always alert with this sort of nondescript documents, easy to spot with its low font size, like EULA/Terms and Conditions of Mutual Funds, Life Insurance, Mortgages etc). It says credit card fee is Rs. 1499 so straightforwardly busted 3.5K joining fee. I started repeatedly complaining this matter with IndusInd customer care and bank, but all in vein.

I approached the manager in person and he said Rs. 3500 joining fee is for the offer with JetAirways ticket, and I could have opted-out this offer. Obviously when I visited him first for credit card he convinced me that the Jet Airways ticket comes as a complimentary to the credit card and never mentioned that opting out this freebie could save me Rs. 2000. He said that if I opted for a card without JetAirways offer, Rs. 1499 would be “Annual Fee” (as opposed to Rs. 3500 as one-time joining fee). Oh man, how deceiving this person really is! He then tried convincing me how I badly needed their Aviva life insurance policy, I gave it a shit.

It is interesting to note that the bank have not disclosed fee info on any of their credit cards at their site. However curious readers can still access the "Most important terms and Conditions" document in their website, which is tactically hidden in their webserver!

Update: They have increased their joining fee from Rs 1499 to Rs. 5000 in a matter of 2 weeks! I think my case might have influenced them for this decision, who knows! Original document scan is here:

The fee schedule clearly indicate that there are no annual fee for Premium Select card, so the bank manager is again busted with plain lie, again. After repeated emails and a petition through BCSBI and Banking Ombudsman, the manager wrote me the following:
Dear Dr. Bast

We sincerely appreciate your patience and co-operation in this regard. According to our records, we confirm we have reversed the joining fee of INR 2001.00 and the credit towards the same will reflect in the next month’s credit card statement.  Please view this lapse as only an aberration. We will give our best service always. You are our privileged customer and we value your relationship with us. Your relationship is important to us and we look forward to building further on this association. For any further queries, please call 1860 267 7777 or write to us  Assuring you of our best services. Sincerely,Nitin Mistry   Customer Care Officer   Premium Care Team   IndusInd Bank Limited

So my judicial proceeding is taking its on course and I hope no one else reading this post will have similar experience, so this post! 
Beware of IndusInd!


Janaaaa said...

They still don't disclose the fees explicitly in their website. I was told that the joining fee would be reversed if I spend 20K in the first 3 months. I took it with a pinch of salt though!!

Anonymous said...

Indusind Bank is the worst bank I have ever seen. They don't know how to talk to the customers, the tone is always rude. Please do not opt for this bank, they are pathetic and non-professional people. Beware of INDUSIND BANK.

Anonymous said...

IndusInd Bank fool people big time, don't believe this bank. SCB is the best as per my experience, they are transparent and do not harass people if you even miss one month's credit card payment. Same with HDFC, Citibank, ICICI. Opt for these banks and definitely not Indusind. You would only find a set of unprofessional people working here, they do not have basic manners how to talk to the customers.

Vijay Chaurasia said...

Worst experience with online payment transactions!

I recently took Indus bank Platinum AURA credit card. If I do any online transaction with verification option OTP, it takes more than 15 minutes to receive OTP password and sometime you don't even receive it at all. Most of the time I end up cancelling the transaction or payment session got expired.

I am in Mumbai city and using Vodafone SIM card so pretty sure that telecom network isn't the issue.

Indus bank should improve its messaging service.

Sharib Mirza said...

Thank you for sharing such great information. It was very informative and has help me in finding out more detail about Credit Card Offers!

Shadowkhan said...

Thanks for sharing your opinion, just got a call platinum aura card, your comments helped me with my decision

Shadowkhan said...

Thanks for sharing your opinion, just got a call platinum aura card, your comments helped me with my decision

nath said...

WORST experience in Indus bank aura credit card , I applied credit card when I was enquiry they told it life time free card but they didn't tell about joining fee
once the card is delivered an sms received to pay Rs 575 & Rs 100 for the joining fee
one of cheated credit card I taken card in HAL branch Bangalore

Anonymous said...

Worst, they offered me a lifetime free. Platinum card but gave me Aura card and asking me to pay joining fee

Anonymous said...

"Anonymous Anonymous said...
Worst, they offered me a lifetime free. Platinum card but gave me Aura card and asking me to pay joining fee"

Same case here

Vikram Singh Deshwal said...

Thanks for sharing your experiences and information. Today's date, I'm getting too many calles from IndusInd Bank personals and some 3rd parties that they are offering me a life time free credit card but I chose to find reviews first so I'm escaped from the trap. Thanks Guys.