Equitas PowerMiles Credit Card Review [2026]: Rewards, Benefits & Fees

The Equitas PowerMiles Credit Card is Equitas Small Finance Bank’s premium metal travel credit card. It combines travel rewards, airport lounge access, lifestyle memberships, and a unique Privilege Program that improves your reward value, forex markup, and additional benefits as your spending increases. While the bank has announced a 1:1 airline and hotel transfer program, it is yet to go live. Until then, the card’s appeal depends on its reward structure, travel benefits, and tier-based privileges. In this review, we cover its fees, reward rate, lounge access, forex markup, milestone benefits, exclusions, and whether it deserves a place among the best travel credit cards in India.

Equitas PowerMiles Credit Card at a Glance

Equitas PowerMiles Credit Card Fees and Charges

The Equitas PowerMiles Credit Card carries an annual fee of ₹5000 + GST, placing it in the mid-premium travel credit card segment. The fee is easier to justify if you can meet the spending milestones. New cardholders can waive the joining fee by spending ₹1.2 lakh within the first 90 days, while annual spends of ₹4.8 lakh waive the renewal fee. For regular travelers and high spenders, these thresholds are reasonable and should be achievable without changing spending habits.

The spending targets for fee waivers are lower than those of many competing premium travel credit cards. If you can comfortably spend ₹4.8 lakh a year, holding the Equitas PowerMiles Credit Card becomes considerably more economical. Planning your application before a large purchase can also help you waive the joining fee without changing your spending habits.

Equitas PowerMiles Credit Card Reward Rate

The Equitas PowerMiles Credit Card keeps its rewards simple. The card earns 3 RP per ₹100 on domestic spends and 3X rewards on eligible international transactions, making the card more rewarding if you spend overseas or deal with foreign transactions from India. The value of these Reward Points depends on how you redeem them, with Diamond Tier cardholders enjoying the highest redemption value.

On its own, the reward rate is decent but not market-leading. This is where the Privilege Program becomes important. If you can reach the Diamond Tier, the redemption value doubles from ₹0.50 to ₹1 per Reward Point, improving overall returns. Frequent international travelers benefit the most, thanks to the higher earning rate on overseas spends and the potential to offset the card’s forex charges through the Privilege Program. Until airline and hotel transfer partners are introduced, the enhanced redemption value remains the biggest reason to accumulate Reward Points on this card.

Equitas Privilege Program

The Equitas Privilege Program is what sets the PowerMiles Credit Card apart from most travel credit cards. Instead of offering the same benefits to every cardholder, your rewards improve as your monthly spending increases. Higher tiers unlock better redemption values, lifestyle vouchers, and travel benefits, with the Diamond Tier offering the highest value.

One important condition is that your spending must be consistent. The required monthly spend has to be achieved for all three months in a calendar quarter. A single month of high spending is not enough to move to the next tier.

** Golf bookings are capped at 20 per calendar quarter, including Learn & Play sessions. Flight and hotel vouchers are annual benefits and can be claimed once per financial year.

The Privilege Program is cumulative in nature. Higher tiers improve not only your Reward Point value but also unlock additional vouchers, lower forex costs and travel benefits. ₹The biggest jump comes between the Gold and Platinum tiers, where the redemption value increases from ₹0.50 to ₹0.75 per Reward Point. Diamond Tier doubles the base redemption value to ₹1 per Reward Point while also eliminating forex markup, making it the most rewarding tier for frequent international travelers.

Airport Lounge Access

The Equitas PowerMiles Credit Card offers complimentary lounge access in both domestic and international airports.

Club Marriott Membership – Welcome Benefit

Get a complimentary Club Marriott membership, which includes:

• Up to 25% savings on dining, hotel stays, and spa services at participating Marriott hotels.
• One complimentary membership for the spouse.

The membership must be activated within 90 days of card issuance.

EazyDiner Prime Membership – Welcome Benefit

The card also includes a complimentary EazyDiner Prime membership with:

• Up to 50% savings at participating restaurants.
• Complimentary beverages at select outlets.
• 2000 welcome EazyPoints.

The membership must also be claimed within 90 days of card issuance.

Fuel Surcharge Waiver

The card offers a 1% fuel surcharge waiver on transactions between ₹500 and ₹3000, capped at ₹450 per statement cycle.

Pros and Cons of Equitas PowerMiles Credit Card

Pros

• Up to ₹1 per Reward Point on flight and hotel bookings.
• 0% forex markup at the Diamond Privilege tier.
• Quarterly vouchers and bonus points can add good value for users who consistently meet the spending criteria.
• Complimentary domestic and international lounge access.
• Club Marriott and EazyDiner memberships are included at no extra cost.
• Reward rates, redemption value, and forex charges all improve as you move up the Privilege tiers.

Cons

• Higher Privilege tiers require three consecutive months of qualifying spends.
• Missing the spend requirement can result in a lower tier and reduced benefits in the following quarter.
• Flight and hotel bookings offer the highest redemption value, while other redemption options are less rewarding.
• Diamond tier benefits require monthly spends of over ₹1 lakh, which may be difficult for most cardholders.
• Quarterly and annual benefits are closely linked to Privilege tier.

Who Should Apply for the Equitas PowerMiles Credit Card?

The Equitas PowerMiles Credit Card works best for cardholders who can consistently maintain the higher Privilege tiers. As your tier improves, so do your reward value, forex benefits, and additional travel perks. If your monthly spending naturally meets the required thresholds, the card offers considerably better value than it does at the entry level.

Consider This Card If You

• Spend ₹60,000 to ₹1 lakh or more every month.
• Travel internationally and want to reduce forex charges.
• Redeem Reward Points mainly for flights and hotel bookings.
• Value airport lounge access and complimentary lifestyle memberships.
• Can consistently meet the Privilege Program spend requirements.

You May Want to Skip It If You

• Prefer a simple cashback or fixed-rewards credit card.
• Have irregular monthly spending that makes it difficult to maintain higher Privilege tiers.
• Want airline and hotel miles transfers today rather than waiting for the Xchange Program to go live.
• Rarely travel or redeem reward points for travel.

Final Verdict: Should you apply?

The Equitas PowerMiles Credit Card is one of the more interesting travel card launches in recent years. Rather than relying on welcome bonuses, it rewards consistent spending through its Privilege Program. Cardholders who can maintain the Platinum or Diamond tiers stand to gain the most from higher Reward Point values, lower forex costs and additional travel benefits. Until the Xchange Program goes live, however, the card is better suited for users who prefer travel redemptions over airline miles.

Frequently Asked Questions