IndusInd Bank launches ePay Amex credit card

[vm999]

A new credit card launched by IndusInd Bank.

Rewards are very attractive. Typical Amex by asking us to make >10 transactions per month to avail the full benefits.
Needs to see what are the reward limits and annual fee.

Reward for early payment

Get 5% cashback annually every time on payment of total due amount within 7 days of statement generation.

Unique Transaction based Rewards Program​

Earn up to 10 Reward Points on each transaction with your completely digital ePay American Express® Credit Card

• 1st to 4th transaction in a statement cycle- Earn 4 Reward Points on each transaction
• 5th to 10th transaction in a statement cycle- Earn 8 Reward Points on each transaction
• Beyond the 10th transaction in a statement cycle- Earn 10 Reward Points on each transaction
• Minimum transaction value- Rs 500

Spend on your card every month and get double the reward points

When you keep your ePay Card active for 11 months, you will get 2X Reward Points on all your spends done in the 12th month within an anniversary year.

E.g. if your card issuance date is 1st January, be active on your card from January to November by making at least 1 transaction each month and on December you will get 2X Reward Points on all your spends.

• 1st to 4th transaction in a statement cycle- Earn 8 Reward Points on each transaction
• 5th to 10th transaction in a statement cycle- Earn 16 Reward Points on each transaction
• Beyond the 10th transaction in a statement cycle- Earn 20 Reward Points on each transaction

 

[mrbanker]

A new credit card launched by IndusInd focused on digital payments for rewards and cashbacks.

Apply for ePay Amex Credit Card Online - IndusInd Bank

Choose the IndusInd Bank ePay Amex Credit Card at IndusInd Bank. Apply Now!

www.indusind.com

 

[V G]

Only positive is 5% on early payment. Need to check T&C of this 5% cashback. Is there any limit? Why does it say annually? Does it mean this cashback is available on 12th statement only similar to the 2x reward points?

 

[WhoU]

5% early payment cashback is pretty sweet. This is gonna get milked like Magnus if they don’t put some cap on it.

 

[ccdc]

do we get all the rewards...(4/8/10) per every 500 spent?

 

[chasni]

so the reward is dependent on number of transactions not the value of transactions?

 

[sxchzy]

so the reward is dependent on number of transactions not the value of transactions?

minimum 500 is required for an eligible transaction

 

[WhoU]

minimum 500 is required for an eligible transaction

Yeah but what is unique here is if 11th txn is 50k or 500, it will fetch same reward point i.e. 10.

 

[AlgoTrader]

info still looks incomplete about the various features

 

[Kuldeep khola]

An

A new credit card launched by IndusInd focused on digital payments for rewards and cashbacks.

Apply for ePay Amex Credit Card Online - IndusInd Bank

Choose the IndusInd Bank ePay Amex Credit Card at IndusInd Bank. Apply Now!

www.indusind.com

Anyone applied this card

 

[Rahul Gupta]

Reward rate is pretty poor if its 500rs for respective points. However if annual cashback capping is decent then it might be good.

1 RP = 35paisa.

 

[helloworld]

All this to get just 1.4% reward rate in 12th month and settled with 0.7% reward rate in 11 months..?

Who designed and approved this complicated product. Interesting part is they're expecting frequent transactions and long term commitment with this reward rate.

Even best part is people have to find places to transact this AMEX card 10 times in a month (I think its difficult to transact 4x1500 with MRCC, not sure how they'll find 10x500 - have to swipe multiple times maybe).

Nice..

 

[chasni]

This card is like a gf who isn't even ready to kiss you but wants a life long commitment.

 

[skap9731]

An

Anyone applied this card

did you find a way to apply it? i can't see any link to apply.

 

[helloworld]

did you find a way to apply it? i can't see any link to apply.

seriously, why do you want to apply this card, just incase if I miss anything?

 

[sxchzy]

what is the joining fee and annual fee for the same?

 

[Rahul Gupta]

what is the joining fee and annual fee for the same?

I am also looking for it.

 

[Rahul Gupta]

All this to get just 1.4% reward rate in 12th month and settled with 0.7% reward rate in 11 months..?

Who designed and approved this complicated product. Interesting part is they're expecting frequent transactions and long term commitment with this reward rate.

Even best part is people have to find places to transact this AMEX card 10 times in a month (I think its difficult to transact 4x1500 with MRCC, not sure how they'll find 10x500 - have to swipe multiple times maybe).

Nice..

If they are crediting annual 5% without any headache then its a steal deal.

 

[skap9731]

seriously, why do you want to apply this card, just incase if I miss anything?

I mean, i got a specific use for amex network cards (issued by either icici,indus or sbi) hence asking.

 

[RajeshV]

Has anybody come across the terms for 5% cashback and schedule of charges for this card?