AU Bank Revises Its Credit Cards Reward Points Usage Terms & Conditions

Ever since AU Small Finance Bank started in 2017 under its new name, the bank has been serving average and low-income individuals with their financial needs and requirements. Talking about credit cards, AU Bank is one of the major issuers in India with over 3.5 Lakhs active cards ranging from super-premium to entry-level beginner credit cards.

Most credit cards by the bank have a decent rewards program and offer reward points on almost all spend categories. You can earn and easily redeem reward points for a host of products, vouchers, and more. If you are an AU Bank credit cardholder, you must know that the bank recently announced some revisions to its reward points terms and conditions which will take effect from 5^th July 2023.

Almost all AU Bank credit cards will be affected by this and we will talk about these changes in detail.

Maximum Reward Points Capping on the Zenith Credit Card

The AU Bank Zenith credit card is the most premium offering by the bank and charges a high joining fee of Rs. 8000 plus taxes. The card offers 20 reward points per Rs. 100 spent on dining, and 10 reward points per Rs. 100 on international, departmental store, and grocery spends. On all other spends, except fuel, you get 5 reward points per Rs. 100 spent with the card.

According to the revision, from 5^th July 2023 onwards, you can earn maximum 40,000 reward points per statement cycle on your spends with the Zenith credit card. Also, you can earn a maximum of 20,000 reward points per every merchant category.

Updated Reward Points Redemption Fees

There was no reward redemption fee charged on any AU Bank credit card until now. You could earn reward points for your spends and redeem them at the AU Rewardz portal against e-vouchers, products, merchandise, flight/hotel bookings, DTH or mobile recharges, and more.

However, after the revision of usage terms and conditions, you will be charged a low fee of Rs. 99 plus taxes on every successful redemption made by you. This reward redemption fee will be levied on all AU Bank credit cards, with effect from 5^th July 2023.

Redemption for Gift Cards/E-Vouchers/Vouchers

There was no reward redemption fee charged on AU Bank credit cards and you could redeem your points at AU Rewardz portal against a host of categories, at the value 1 RP = 0.25 Rs.

The revision of terms and conditions states that 1 reward points will be of Rs. 0.20 value when redeemed against E-Vouchers, Gift Cards, and Vouchers. The redemption value of reward points will remain the same for other categories. The updated value will come into effect from 5^th July 2023 and is applicable on all AU Bank credit cards.

Bottom Line

AU Bank has lakhs of credit card users across India and a majority of them are pleased with their services and offerings. As stated above, the bank recently announced some revisions to the usage terms and conditions of credit card reward points.

There will be a maximum reward points capping of 40,000 on the Zenith credit card, while cardholders will have to pay Rs. 99 whenever they make a redemption using any AU Bank credit card. The changes will take effect from 5^th July 2023, and the redemption value of reward points has also been downgraded to Rs. 0.2 for vouchers and gift cards.

Head over to the comments section and let us know your thoughts regarding these new changes to AU Bank credit cards’ reward points.