IndusInd Platinum
KeepIndusInd's lifetime-free Platinum: 0.6%, no lounge, and a point the bank itself marked down to 60 paise.
a year at ₹40,000 a month, after the fee
Skip the arithmetic — the board, ranked → · nothing to sign up for
What it's worth to you, after the fee
Welcome: Welcome gift — a Montblanc, Postcard Hotel or Vouchagram voucher — is available only on select fee plans, and this NIL/NIL plan is not one of them
Priced on the everyday mix — 30% groceries · 10% utilities · 20% travel · 6% fuel · 34% everything else — with this card's published category rules applied: it earns nothing on fuel here, so that spend is dropped, not paid at the headline, and stops pacing milestones and the waiver. Plus milestones, minus the fee. No accelerator credit — the ranking model on /compare adds ~20% of spend at the card's best accelerator, so its ₹ for this card reads higher.
How these numbers are computed — and why the rankings show a bigger one →
Spend tiers, milestones and fee waivers included, at our house ₹/point. Portal and category multipliers can push higher — run your exact number →
Pays from the first rupee
At ₹1,000 a month — ₹12,000 a year — on the everyday mix this card returns ₹100 gross (earn ₹100) against its ₹0 fee = ₹100 net — at or above ₹0 from the first rung we price. The ladder runs in ₹1,000 steps to ₹1,00,000 a month and ₹10,000 steps to ₹5,00,000; figures are rounded to the hundred, and the accelerator is never credited.
2 notes on the card itself: how it is issued · the network variants
This card prices its own points, and it prices them low. The product page's standing notice reads "From 1st March 2024, the value of non-cash redemption (excluding airmiles) will be 1 RP = Rs.0.60" and "the value of cash redemption will be 1 RP = Rs.0.40" — against an IndusInd house value of ₹0.80 set by the 1:1 Maharaja route that only Tiger and the Pioneer shelf get. Cash redemption is additionally capped at 2,500 reward points a calendar month since 1 September 2024. The KrisFlyer door is open but pays 4:1 — 400 RP for 100 miles — which is worse than taking the ₹0.60, so treat this as a voucher card, not a miles card.
Best real exit: Singapore Airlines KrisFlyer at ₹0.28/pt (4:1 transfer).
The take
The Platinum is the plainest card IndusInd still issues, and its own MITC says so: NIL to join, NIL to keep, NA for waiver. What you get for nothing is 1.5 reward points per ₹150 — one point per hundred rupees — against a redemption rate the bank cut to 60 paise in March 2024 and 40 paise for cash. That is 0.60% back, on a card with no airport lounge access of any kind, a 3.5% forex markup and no travel accelerator. The travel insurance is real and better than the earn rate deserves: ₹1 lakh of lost-baggage cover, ₹50,000 for a lost passport, ₹25,000 each for delayed baggage, a lost ticket and a missed connection. The KrisFlyer transfer is technically open at 4:1, which is a worse deal than the vouchers, so ignore it. Hold it if a banker handed it to you — it costs literally nothing and the insurance travels with you — but nobody should choose it over a lifetime-free card that actually pays. Two things IndusInd quietly took away are worth knowing about: the BookMyShow offer ended on 1 October 2022, and the welcome gifts are gated to "select fee plans" this free one is not on.
Your renewal — keep, downgrade or cancel
This card is lifetime free. There is no fee due, no renewal to weigh, and nothing to cancel to save.
Keep, downgrade or cancel
nothing due at the anniversary · 5 spend bands
The charge ₹0 — lifetime free
At your spend
₹1,700 a year at ₹3,00,000 of annual spend
₹3,400 a year at ₹6,00,000 of annual spend
₹6,800 a year at ₹12,00,000 of annual spend
₹20,300 a year at ₹36,00,000 of annual spend
₹33,800 a year at ₹60,00,000 of annual spend
Everyday earn plus milestones, with no fee to subtract — the same model as the value panel above, so the two cannot disagree. run your exact spend →
The downgrade
IndusInd Bank publishes no document naming a card you can step down to, so we name none — an invented product change is a phone call you would waste. That leaves keep or cancel, and the numbers above are the whole of it.
What has changed under this card
- 23 Sep 2026 Axis EDGE brings Accor back, drops ITC, and adds Cathay, Miles & More and Hilton a program these points reach
- 25 Aug 2026 Vietnam Airlines Lotusmiles opens a broad SkyTeam status match — up to Elite Plus a program these points reach
- 20 Aug 2026 IHG Hotels & Resorts becomes a Maharaja Club earning and conversion partner a program these points reach
We price what is in force today — a change that has not happened yet is not in these numbers. the full archive for this card →
If you call to cancel
What the bank offers to keep you is the one fact this desk cannot compute. We are collecting those reports — dated, and only in aggregate — before publishing any: an offer one reader was made is not one you are owed. Called about this card? Tell us what they offered →
The desk publishes subscribable .ics feeds for the dates it knows — offer deadlines, devaluations, expiry audits. Your renewal date is not one of them: only your statement knows it.
What's good
- Lifetime free — the MITC's Platinum row reads NIL joining and NIL annual
- Travel insurance up to ₹2.25 lakh in total: ₹1,00,000 lost baggage, ₹50,000 lost passport, ₹25,000 each for delayed baggage, lost ticket and missed connection
- 1% fuel surcharge waiver at any petrol pump in India
- Issued on both Visa and Mastercard on the same NIL/NIL fee line
Watch out
- 0.60% effective — 1 RP per ₹100 at the bank's own ₹0.60 non-cash redemption rate
- Cash redemption pays only ₹0.40/RP and is capped at 2,500 points a calendar month since 1-Sep-2024
- NO airport lounge access of any kind
- 3.5% forex markup, plus a 2% dynamic-currency-conversion fee from 15-Jun-2026 on rupee-billed foreign transactions
- No reward points on fuel since 1-Apr-2018, and select merchant categories earn a reduced rate revised from 1-Aug-2019
- The Montblanc / Postcard / Vouchagram welcome gifts are restricted to select fee plans — not this free one
- BookMyShow was discontinued on this card from 1-Oct-2022
- KrisFlyer transfers run 4:1 (400 RP = 100 miles) — worse than taking the ₹0.60 in vouchers
What these points actually fly
You hold this — the numbers below are your own points.
These points feed 21 programmes that publish an award chart. Cheapest verified seat per cabin, priced in YOUR points with this card's own ratio already applied:
- Delhi → Singapore Economy 76,000 IndusInd Reward Points via Singapore Airlines KrisFlyer at 4:1 the play
- Bengaluru → Singapore Business 180,000 IndusInd Reward Points via Singapore Airlines KrisFlyer at 4:1
- Mumbai → Delhi First 320,000 IndusInd Reward Points via Air Canada Aeroplan at 12.8:1 (through Singapore Airlines KrisFlyer → Marriott Bonvoy) the play
What earns, what doesn't
5 sourced rules · 1 pay zero
1.5 Reward Points per ₹150 — one point per ₹100 — on ordinary spend, at the ₹0.60 non-cash redemption rate the same page publishes. IndusInd states two earn carve-outs for this card and no more: fuel earns nothing from 1-Apr-2018, and "select merchant categories" were revised from 1-Aug-2019 behind a link the bank no longer resolves, so the reduced set is NOT enumerated below rather than assumed from a sibling card. The remaining rows are the MITC's own fee thresholds, which are charges rather than earn rules and are recorded as such. No `qualifying:` block — the card has no annual fee, no waiver condition (the MITC waiver column reads NA) and no milestone ladder.
- Fuel · excluded No reward points on fuel since 1 Apr 2018 across every IndusInd credit card; the 1% fuel surcharge waiver (minimum ₹10) is the only benefit on the category
Where the miles go
1 program
Ratios read card points : partner miles — 2:1 means 2 points become 1 mile. Never the other way round.
every IndusInd Bank route, side by side → · the IndusInd Reward Points hub →
Lounge access
0 of 793 tracked doors
No lounge access. This card opens exactly 0 of 793 tracked lounge doors — board with the crowd, or find a card that doesn't →
Can you get it?
the route in — no cutoffs published
The cutoffs and the actual route in — not the "apply now" button, the door that opens.
Direct application — no invite list, no banking relationship required.
Open. The Visa form carries a live Apply Now and sits in IndusInd's own credit-card nav under "Platinum Visa Credit Card — Lifetime Free". The Mastercard form's page has no apply button, which on this bank's site usually means the Visa rail is the one being sourced today; both are serviced under the same MITC fee line.
IndusInd Bank publishes no income or age cutoffs for this card. Blank means blank — we don't invent numbers to fill a grid.
per the official IndusInd Bank MITC — figures marked (community) aren't in the PDF; the issuer won't say · filter the board by what you can get →
The fine print
6 of 7 MITC rows published
What the MITC actually says — the rates, fees and cutoffs the brochure skips.
MITC fee table verbatim: "Platinum | NIL | NIL | NA | NIL" — one line covering both the Visa and the Mastercard form, which is why this desk ships one card with two network variants. Genuinely lifetime free, so no joiningFee. 1.5 reward points per ₹150 (1 per ₹100); the product page prices non-cash redemption at ₹0.60/RP and cash at ₹0.40/RP since 1-Mar-2024, with cash capped at 2,500 points a calendar month since 1-Sep-2024. No reward points on fuel since 1-Apr-2018. No lounge access of any kind. Travel insurance via Oriental Insurance: ₹1,00,000 lost baggage, ₹50,000 lost passport, ₹25,000 each delayed baggage / lost ticket / missed connection. BookMyShow discontinued on this card from 1-Oct-2022. Welcome gifts (Montblanc, The Postcard Hotel, Vouchagram) are restricted to "select fee plan" and so do not reach this NIL/NIL plan. Re-issue ₹100. 1% fee on utility spends above ₹25,000, wallet loads above ₹20,000 and education payments above ₹45,000 a statement cycle. NOT in the MITC's discontinued list (which names Platinum Aura and Platinum Select).
per the official IndusInd Bank MITC · reviewed 10 Jul 2026
What's changed for this card
8 dated changes
Devaluations and buffs that touch this card directly, its issuer, or the points and programs it earns and transfers to. Every one is dated here; the tracker carries each one's before → after and the write-up.
- 23 Sept 2026Axis EDGE brings Accor back, drops ITC, and adds Cathay, Miles & More and HiltonAccor and Marriott off the grid since 2 April 2026; Club ITC live; no Cathay, Miles & More or Hilton → Accor live at the punished rates; ITC removed; Cathay, Hilton and Miles & More live; Marriott still gone
Axis's own Travel EDGE terms, re-read 25 September 2026, already show the grid that went live on 23 September. Accor ALL is back, and not at the old Atlas 1:2: EDGE Miles convert at 2:1 (Olympus 1:2) and EDGE Rewards at 5:1, with Magnus for Burgundy at 5:2 and only Burgundy Private still at 5:4. Club ITC is off the table. Three partners are new. Cathay Asia Miles sits on that same punished grid. Hilton Honors is the ordinary one: EDGE Miles 1:2, EDGE Rewards 5:2, Burgundy 5:4. Lufthansa Miles & More is the exception on Atlas, which converts 1:1 there while every other standard airline on that card is 1:2; the EDGE Rewards side of Miles & More is the ordinary 5:2. Marriott stays removed. Qatar Privilege Club was already back. Flying Blue, Air India and Qantas moved into Group A, which is the capped group. The Axis Rewards credit card's Amex network is advertised as joining-fee and annual-fee nil for a limited period; there is no separate Amex variant on this board, so that offer is not modelled as a fee change.
- 25 Aug 2026Vietnam Airlines Lotusmiles opens a broad SkyTeam status match — up to Elite Plus
- 20 Aug 2026IHG Hotels & Resorts becomes a Maharaja Club earning and conversion partner
- 18 Aug 2026Amex India re-rates Virgin Atlantic upward — 2:1 becomes 5:4, the first MR buff in years
- 6 Aug 2026MaxCoins' full transfer catalogue surfaces — Accor at 2:1 re-prices the coin to ₹1.08
- 3 Aug 2026SBI drops Etihad Guest from the MILES transfer table — the last SBI door into the programme
- 2 Aug 2026Flipkart SuperCoins into Maharaja Club improve to 2:1
- 26 Jul 2026Air India's quiet network retreat: Tokyo moves, Paris and San Francisco go, Malé pauses
Every IndusInd Bank change we've dated → 10 events since 2016, 8 of them nerfs — worst year 2025.
Verified against IndusInd Bank's own documents on · the net-annual-value engine, at our house ₹/point
Every document behind this page — 3 of them, each with the day we read it
- official Product page — 1.5 reward points per ₹150, the ₹0.60 non-cash and ₹0.40 cash redemption rates, the travel-insurance table and the 1% fuel surcharge waiver
- official The Mastercard form of the same card — identical earn, identical redemption rates, identical insurance table, and no separate MITC fee line
- official MITC fee table — the "Platinum" row is NIL joining, NIL annual, no waiver condition and NIL add-on fee; interest 3.95% a month