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
www.yatra.com 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! http://www.indusind.com/indusind/wcms/en/home/personal-banking/creditcards/importantdocumentsnforms/MITC.PDF
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 atpremium.care@indusind.com 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!
Comments
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!!
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.
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
Worst, they offered me a lifetime free. Platinum card but gave me Aura card and asking me to pay joining fee"
Same case here