IndusInd Bank Pinnacle Credit Card

Pinnacle is one of the good premium credit cards in IndusInd Bank’s offerings. The card has a decent reward rate and benefits which make it a card worth applying for. Here is a review of the IndusInd Bank Pinnacle credit card and its rewards/benefits.

Joining/Annual Fee

In line with IndusInd Bank’s other card offerings, there is no annual fee for the Pinnacle credit card. We need to pay the joining fees and we get gift vouchers against it. The number of gift vouchers keeps changing. Below are the current fees and offer for this card.

The online voucher code is a Gyftr redemption. So, we can redeem it for Amazon or Flipkart vouchers. The offline vouchers include brands like Bata, Pantaloons, Titan, and Hidesign.

If you have some shopping planned, offline vouchers are a better option as we get a higher value. In this case, the effective fees for the Pinnacle card reduce to Rs 2700 or the GST component.

Rewards

Excluded Transactions for Rewards

Below transactions will not get any cashback on the IndusInd Pinnacle credit card:

Fuel Spends

Complimentary Airport Lounge Access

International Airport Lounge Access: 2 complimentary visits/calendar quarter with Priority Pass
Domestic Airport Lounge Access: 1 complimentary visit/calendar quarter with Mastercard

Other Benefits

BookMyShow: Buy one and get the second one free up to Rs 200. Valid 3 times/month.
Complimentary IndusInd Bank Exclusive Savings Account with no minimum balance requirement.
24*7 Concierge
24*7 Auto Assist
1% Fuel Surcharge Waiver

Rewards Redemption

Each reward point is equal to 75 paise for a statement credit and 1 Airmiles for transfer to partners. We can redeem the reward points for:

E-Vouchers and products on IndusMoments
Airlimiles transfer to InterMiles/Vistara
Cash Credit – Max 25000 RP per statement

Pros and Cons

PROS

• Good welcome benefits for joining fee
• No annual fee
• 2.5% rewards on online spends
• Good reward redemption options
• Complimentary Domestic/International Airport Lounge Access

CONS

• 0.7% rewards on Government Services, Utility Bills, Real Estate/Rental, and Insurance Premiums

My View

IndusInd Pinnacle offers decent rewards and benefits for a premium credit card. There are some online spending like utility bills/rent payments where we get 0.7% rewards. IndusInd could have kept this at 2% with some upper cap to curb misuse. But, it has gone for a drastic approach.

On the rewards front, cards like Amazon Pay ICICI and Flipkart Axis are better at rewards. So, the only differentiating factors are benefits like redemption options and lounge access.

As there is no annual fee and we can get this card at an effective Rs 2700, this is still a good deal. We can also take advantage of the occasional spend offers during the festival season.