IndusInd Tiger Credit Card Review: IndusInd bank has really shocked the credit card audience with it’s launch of Tiger credit card. This card is a co-branded credit card of IndusInd Bank and Tiger Fintech (A Bajaj Capital group company). The main USP of the IndusInd Tiger credit card is that it’s a lifetime-free credit card and gives a 1:1.2 transfer ratio to Vistara CV miles. Continue reading the complete review and share your thoughts in the comments.
Charges and Welcome benefits
| Joining Fee | Nil |
| Annual Fee | Nil |
| Welcome Bonus | NA |
👉Apply Lifetime Free IndusInd Tiger Credit card Here
Reward and benefits
- Earn upto 6 Accelerated Reward Points on every ₹100
basically it’s a unique structerd reward porgram where if your annual spend is upto Rs.1 Lakh then you get 1 reward point on every 100 spent. This increase to 6 reward points for every 100 spent on slab wise annual spends of 5 lakhs and above.
- Spends on utility bill payments, insurance premiums, government services, Educational Institutes, Real Estate, and rental payments will get only 1 reward point.
- Fuel transactions will not earn any reward points.
- Reward points value – 1 point = 40 paise in cash and 1 RP = 1.2 Airmiles. So they can be also transferred to Vistara at a 1:1.2 conversion ratio.
- One complimentary movie ticket upto Rs.500 on BookMyShow every 6 months in a calendar year.
- Forex markup fee is 1.5%+GST
- 2 Complimentary Domestic Lounge Access in a quarter and 2 International Lounge Access in a year via Priority Pass without any spend condition.
- 1 complimentary golf game or lesson every quarter.
- Note – Effective 1st September 2024, maximum reward points allowed for cash redemption will be 5000 per calendar month. More cards review.
A look on Reward Multiplier
Magnificent Rewards Program
| Spends Slabs Anniversary Year (in ₹) | Slabwise Reward Multiplier |
|---|---|
| Upto 1,00,000 | 1 |
| 1,00,001- 2,50,000 | 2 |
| 2,50,001- 5,00,000 | 4 |
| >5,00,000 | 6 |
Get the best from the ‘Magnificent Rewards Program’ , an illustration given below
| Spends Slabs Anniversary Year (in ₹) | Reward Multiplier | *Reward Points |
|---|---|---|
| 1,00,000 | 1 | 1,000 |
| 1,50,000 | 2 | 3,000 |
| 2,50,000 | 4 | 10,000 |
| 1,00,000 | 6 | 6,000 |
| Total 6,00,000 | 20,000 |
*Assuming INR 6 lakh spends in a card Anniversary Year , you will earn Reward points as mentioned in above illustration. Incremental spends in each slab will be considered for Reward Multiplier. So for an annual spend of 6 Lakh you are getting 20000 reward points.
My thoughts on Tiger card reward rate
Although Indusind bank tiger credit card is looking a fantastic credit card and by seeing the above spend and reward example it looks good but the catch is here excluded category like utility bill payments, insurance premiums, government services, Educational Institutes, Real Estate, and rental payments are not counted in the milestone threshold in the IndusInd Tiger credit card. These category spends will give you just 1 RP on spend of INR 100. So if look overall you will have to spend a lot more than 6 lakh to actually get that 20K Reward point.
Good for people having high annual spends
To get 20k reward point, practical spend required is 6 lakh plus. So this card may suit for those who having high spends annualy like self employed people, business professionals who have large spends across various categories and can benefit from this credit card.
Great benefits with Vistara
With transfer ratio of 1:1.2 if you are able to earn 20000 reward point on eligible spend of Rs.6 lakh in a year can give you a free flight ticket for example Delhi to bali, delhi to singapore. As 20K reward point will become Rs.24000 CV points when you transfer. If you will transfer to cash credit then effective return rate will become very less. Vistara has good redemption options from India too.
Kindly note that the value of airmiles varies a lot depending on flying routes. The above is just an example to look how effective reward rate can be and your actual reward rate may vary a bit.
Indusind Tiger Credit Card Review: Conclusion
The IndusInd Tiger credit card is a decent Lifetime free credit card with free doemstic and international lounge access without any spend condition for now and a very good conversion ratio on Vistara. Its reward structure benefits users who have very high credit card spending on non-exclusion categories. Thus, if you have high spends (like above 10 lakh a year) and fly Vistara frequently then you should opt for this credit card.
