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The Poonawalla Fincorp and IndusInd Bank joined hands and launched the co-branded Poonawalla Fincorp eLITE RuPay Credit Card. The Poonawalla Fincorp is a non-banking financial company and is among the leading NBFCs in India.

This card is designed to make life easier for its holders by offering a variety of benefits without any joining or annual fees. It’s good for people who enjoy movies and shopping, as it offers rewards and discounts in these areas. This card provides a range of perks, including movie ticket offers, reward points on everyday purchases, and more. This card is offered on the RuPay network meaning it can be linked to UPI apps for easy transactions without any problem. The Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card doesn’t just offer financial freedom but it’s also promoting your lifestyle, all without the worry of extra charges.

Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card
(4.4/5)

Joining Fee

Nil

Renewal Fee

Nil

Best Suited For

Movies | Shopping |

Reward Type

Reward Points |

Welcome Benefits

N/A

Movie & Dining

BOGO Offer on Movie Tickets every Month via BookMyShow

Rewards Rate

2.5 RP for every ₹100 spent on E-commerce Transactions; 1 RP for every ₹100 spent on UPI and POS Transactions

Reward Redemption

Redeem RP for Cash Credit where 1 RP = ₹0.40

Travel

N/A

Domestic Lounge Access

N/A

International Lounge Access

N/A

Golf

N/A

Insurance Benefits

Insurance is provided (Air Accident, Counterfeit Fraud, Loss/Theft of Card)

Spend-Based Waiver

Not Applicable

Rewards Redemption Fee

N/A

Rewards Redemption Fee

N/A

Foreign Currency Markup

3.5%

Interest Rates

3.83% per month (46% Annually)

Fuel Surcharge

1% Fuel Surcharge Waiver for Transactions Between ₹400 and ₹4,000 at all Petrol Stations.

Cash Advance Charges

Nil

  • Milestone Benefits worth 3000 reward points on spending ₹4 lakhs.
  • BOGO offer on movie tickets capped at ₹200 per month.
  • 1% fuel surcharge waiver on transactions at every petrol pump in India.
  • ‘Total Protect’ has been introduced for insurance coverage.

Pros

  • Lifetime-free credit card with no annual charges.
  • This card can be linked with UPI apps for hassle-free transactions.

Cons

  • No dining offers with this card.
  • This card does not offer a very good reward rate.

Features and Benefits of the Poonawalla Credit Card

Milestone Benefits

The Poonawalla RuPay Credit Card provides a milestone benefit that offers significant value. Upon reaching a spending value of ₹4,00,000 within a year of card activation, cardholders will receive 3,000 bonus reward points. These reward points are credited to the cardholder’s account within 45 days after the completion of the first year.

It is important to note that the milestone benefit target excludes specific categories such as utilities, government payments, education fees, and insurance premium payments. However, this card includes rent expenditures in the qualifying criteria to attain the spending target.

Link with UPI Apps

A cardholder can easily link his Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card with UPI apps like Google Pay, BHIM, Paytm, etc, and make easy, hassle-free transactions straight away from his mobile phone.

Entertainment Offers

The Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card offers a special treat for movie lovers. With this card, you get a buy-one-get-one-free offer on movie tickets. This means when you buy a movie ticket through BookMyShow, you can get another ticket for free, making it perfect for outings with a friend. This offer can be enjoyed once every month, allowing you to save on your movie outings regularly.

However, the free movie ticket is capped at ₹200, meaning if the second ticket costs more than ₹200, the cardholder will receive a discount of ₹200 and any amount over that must be paid using the card. It’s an excellent way for your companion to enjoy the latest blockbusters without worrying about the ticket cost.

Lifetime-Free Credit Card

The Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card is a lifetime-free credit card with no joining or annual fee, making it a great choice for people who are applying for credit cards for the first time or for people who want great offers without paying any charges.

Fuel Surcharge Waiver

The Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card offers a 1% fuel surcharge waiver. This means you won’t have to pay the extra 1% charge usually added to fuel purchases when you use the card to buy fuel. This waiver is valid for transactions between ₹400 and ₹4,000 at all petrol stations in India.

Insurance Benefits

The Poonawalla credit card offers a special protection called Total Protect. If your card is lost or stolen or someone uses it without your permission, you’re covered for the amount up to your card’s limit. This also applies to any extra cards you have. Plus, you get free insurance if there’s an air accident, up to ₹25 lakhs.

Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card Reward Rate

Category Reward Points on Travel (For every ₹100 spent) Reward Points on Selected Merchant Categories (For every ₹100 spent) Reward Points on all Eligible Transactions (For every ₹100 spent)
E-commerce 1 (0.4%) 0.5 (0.2%) 2.5 (1%)
UPI 1 (0.4%) 0.5 (0.2%) 1 (0.4%)
Point-of-Sale 1 (0.4%) 0.5 (0.2%) 1 (0.4%)
  • Value of 1 reward point = ₹0.40
  • Select merchant categories: utility bill payments, insurance premium payments, government services/charges/premiums, education fees, and rent.
  • No reward points are earned on fuel transactions.
  • Rewards points earned are valid for 24 months from the date the points were credited.

Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card Reward Redemption

The reward points earned with Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card Reward Redemption can be redeemed through the following ways.

  • Reward points are redeemed as cash credit where 1 RP = ₹0.40.
  • For every 200 reward points Club Vistara members get 100 CV points.
  • For every 200 reward points, you will get 100 InterMiles.
  • You can even redeem the reward points for IndusMoments or pay with rewards.

Annual Saving Table

Below is an example table showing how a cardholder will save money when making transactions with the Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card.

Features Estimated Savings
E-commerce transactions: Reward Points value (₹6,000 spent every month) 720
UPI transactions: Reward Points value (₹3,000 spent every month) 144
POS transactions: Reward Points earned value (₹5,000 spent every month) 240
BookMyShow Offer (1 complimentary movie ticket every month at ₹ 200 each) 2,400
1% Fuel Surcharge (Monthly fuel usage of ₹ 3,000) 360
Total Savings 3,864

Eligibility for the Poonawalla eLITE RuPay Credit Card

To own the Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card one should be between the ages of 21 and 65 years and have a minimum salary of ₹20,000. The potential cardholder should be a resident of India and have a decent credit score.

Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card Review

The Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card is great for movie buffs and shoppers. It charges no joining or annual fees, making it wallet-friendly right from the start. It’s like getting a premium experience without the price tag.

One of the standout features of this card is the Buy One Get One (BOGO) offer on movie tickets through BookMyShow, which you can avail of every month. This is an excellent deal for frequent moviegoers. For those who shop online, the rewards rate is pretty attractive, too, with 2.5 reward points for every ₹100 spent on e-commerce transactions. This card also offers a 1% fuel surcharge waiver and the milestone benefit of 3000 reward points on spending ₹4 lakhs is a decent incentive to use this card for all your purchases. Overall, the Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card is a solid choice for its targeted audience.

If we compare the Poonawalla Fincorp eLITE RuPay Credit Card with the IndusInd Bank Platinum RuPay Credit Card or with the Tata Neu Plus HDFC Bank Credit Card, we find that the Poonawalla card is better than the Platinum RuPay card, but the Tata Neu Plus is a better card than both. The Poonawalla and Platinum RuPay Credit Cards are lifetime-free with no annual charges, but they do not provide exclusive privileges. On the other hand, Tata Neu charges an annual fee of ₹499, but it offers great benefits.

FAQs:

No, there are no annual fees. The card is a lifetime-free credit card, meaning you won't have to pay any yearly charges to keep it active
The card can be linked with various UPI apps, such as Google Pay, BHIM, Paytm, etc., for easy and hassle-free transactions.
Yes, the reward points earned with the Poonawalla Fincorp RuPay Credit Card expire after 24 months from the date the points were credited to the cardholder's account.
Yes, there is a limit on the buy-one-get-one-free offer on movie tickets. You can avail of the BOGO offer once every month which is capped at ₹200.

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