In 2000, the IndusInd Bank signed a memorandum of understanding (MoU) with the HSBC, for issuing a global credit card under the MasterCard umbrella to its customers and launched the Global Credit Card. During 2011, the bank entered into an agreement with the German-based investment bank, Deutsche Bank to acquire its credit card business in India. In 2014, the bank entered into a strategic partnership with Jet Airways to launch the new Jet Airways IndusInd Bank Credit Cards to cater to the travel group of the customer base. In 2015, the IndusInd Bank launched the Chelsea FC Co-Brand Credit Card.
IndusInd is a new generation bank, established during 1994 with the primary objective of serving the NRI Community. The bank was set up under the chairmanship of S.P. Hinduja.
It is a Mumbai based bank which has operations in 1,004 branches and 1,885 ATMs across 625 geographical locations.
The bank started its operations with an initial capital amount of Rs 1 billion. The bank was promoted by a group of Non-Resident Indians who contributed Rs 400 million as a part of the capital amount and the remaining Rs 600 million was raised by Indian Residents.
The following are the features of IndusInd Bank Credit Card:
• Balance Transfer – IndusInd Credit card provides its cardholder a unique facility to transfer the balance from one credit card to another or to transfer the amount to any other account.
• Personalized Offerings – IndusInd provides a customized credit card to match the needs and requirements of the individual customers.
• Loan against Card – IndusInd credit card provides loan against card without much of paperwork at the doorsteps of the customer on demand.
• Infinite Spending – IndusInd bank credit card empowers the user with a feature of NPSL (No pre-set spending limit). It means the cardholder will have additional spending flexibility over and above the base revolving credit limit providing the cardholder an extra cushion to spend over the defined credit limit.
• Discount Facilities – IndusInd Bank’s credit card has tie-ups with elite brands ranging from travel to dining and hence provides great discount facilities, cash back offers and reward points to all its customers around the year.
The advent of technology has helped the mankind in many ways. The benefits of the internet are innumerable in nature, one such way is this that it has reduced the requirement of an individual to physically go to the respective bank to apply for a credit card. Nowadays, the banks in India has given an opportunity for the individuals to apply for a credit card of their choice through online mode.
IndusInd Bank has also given an opportunity to its esteemed customers wherein they can apply for the required credit card through its web portal. Interested customers have to visit the web page of the IndusInd Bank. In the home page under I’m interested in section, move the cursor on Cards option which will show Credit Card. Now proceed further and select Credit Card. Here one can find all the credit cards offered by IndusInd Bank. Go through each and every credit card in this section to understand the requirements and eligibility of the credit card. Choose the card which suits your financial needs and requirements.
Now click on ‘Apply Now’ option, which will take you to another web page wherein the individual has to provide their basic information like
• Where do you live currently?
• When did you move to the current residence?
• Date of Birth
• Are you an existing Jet Privilege Member?
• Type of Employment
• Mobile Number
On providing the following information, the IndusInd Bank will provide you the list of credit cards which suits your needs and requirements. Now zero in on the best credit card and apply instantly.
On receiving the request from the customers, the IndusInd Bank executives will give a call to the customer and will ask them to submit the required documents. Upon the receipt of the required documents and the scrutiny of the same, the IndusInd Bank may or may not issue a credit card to the customer.
It is solely at the discretion of the IndusInd Bank to issue a credit card to a customer.
For Offline application – through the bank branch, you can visit the nearest IndusInd Bank and meet a credit card handling bank’s representative and express your interest to obtain a Credit Card of your choice after going through the various credit card variants. The representative will guide you through the application filling process, wherein you will be required to fill out the form and submit the required documents.
The bank will check whether the candidate is eligible to avail the credit card for which they have applied for. Based on the eligibility of the customer, they may or may not receive the credit card, it will be on the discretion of the IndusInd Bank to decide if a customer has to be given Credit Card or not.
• To apply for IndusInd Bank’s Credit Card, the individual should be in the age bracket of 21 years to 65 years.
• The applicant should be a regular employee working in an established company or a self-employed professional managing own business.
• The individual should have a good CIBIL score.
• The applicant should be a resident of India or Non-Resident Indian.
• The applicant should have a regular source of income.
• One Identity Proof issued by the government of India – Election Voters ID, Driving License, Aadhaar Card, Passport, Ration Card.
• Proof of Income – Last 3 months salary slip or last 3 months bank statement.
• Duly filled in application form of IndusInd Bank Credit Card.
• Address Proof – Electricity Bill (latest or previous month), Phone Bill (latest or previous month), Rental agreement, Flat maintenance bill (latest or previous month), bank statement (latest or previous month), Passport, Driving License
• PAN Card.
• Passport size photograph.
The following are the various features offered under Card Related Requests category
• Either set/reset credit card PIN instantly.
• The cardholder can raise a request for a replacement card.
• One can permanently block the credit card instantly.
The temporary card usage limit for a credit card refers to the temporary usage limit which is defined by the cardholder on his/her credit card. By using this feature, the cardholder can control the card spends within the planned budget.
For Example: If the Total credit limit on a credit card is Rs 50,000 per month and the cardholder wishes to restrict the card spending to Rs 25,000 per month then one can do so by using the above-said feature.