IndusInd Bank has rolled out Rewardz Festival 2020 on their credit cards today. Under this offer, IndusInd Bank is providing upto 3X bonus reward points on online spends and 5% cashback on partner spends. The offer starts from 15 October 2020 and runs through 20 November 2020. Let’s delve into the details of this offer to know more.
Offer Details
Upon meeting the spend criteria, IndusInd card members would be eligible for following benefits:
Upto 3X bonus reward points on online spends
- Offer:
- Get 2X bonus reward points on online spends above Spend Level 1
- Get 3X bonus reward points on online spends above Spend Level 1 and 2X Reward Points on all Online Spends up to Spend Level 1.
- Spend Levels: As communicated in email sent by IndusInd Bank
- Maximum Bonus Reward Points: As communicated in email sent by IndusInd Bank
5% Cashback on Partner Spends
- Offer: 5% Cashback on meeting the minimum spends level at Yatra, Zoomcar, EasyDiners, Myntra, PCJ, Maple, Medlife & Grofers
- Maximum Cashback: As communicated in email sent by IndusInd Bank
- Spend Levels: As communicated in email sent by IndusInd Bank
5% Cashback on conversion of Outstanding to EMI
- Offer: 5% Cashback on conversion of Outstanding to EMI
- Maximum Cashback: As communicated in email sent by IndusInd Bank
- Minimum Conversion Amount: As communicated in email sent by IndusInd Bank
- Minimum EMI Tenure: 12 Months
Other T&C
- Period: 15 October 2020 to 20 November 2020
- Type: Enrollment required before 20th October 2020 by
- Sending SMS JOIN to 5676757 from registered mobile number
- Clicking on personalized link in email sent by IndusInd bank
- Calling customer care
- Fulfillment: Bonus reward points and Cashback would be credited to card account by 31st January 2021
- Exclusions:
- Not applicable on IndusInd Bank Corporate Cards, IndusInd Bank Classic Credit Card, IndusInd Bank Gold Credit Card, InterMiles IndusInd Bank Odyssey Credit Card, InterMiles IndusInd Bank Voyage Credit Card and Credit Cards issued after September 30, 2020
- Not applicable on Credit Cards with the assigned credit limit of below Rs. 30,000.
- Not applicable on loading of Mobile/Digital Wallets, Insurance Premium payment, Standing Instructions
- Source: Email
Bottomline
I received Spend Level 1 of Rs. 60,000 and Spend Level 2 of Rs. 1.2 Lakhs on my IndusInd Iconia Amex Credit Card which is quite high I believe. The maximum bonus reward points I can earn using this program is 2,500. Using this offer, I can get a reward rate of 4% on weekend online spends on my Iconia Amex Card on spending upto Rs. 1,20,000 which is decent.
The 5% cashback partner list is really underwhelming. I wish IndusInd should have included major e-commerce partners like Amazon, Flipkart etc. to attract masses.
I would discourage you from utilizing the third offer of converting the outstanding to EMI as you’ll lose more on interest than gaining through cashback.
What spend levels did you receive on your IndusInd Credit Cards? Are you planning to participate in the IndusInd Rewardz Festival? Let me know by leaving a quick comment below.
