IndusInd Signature Visa
DowngradeTwo Visa lounge visits a quarter, 1.13% on everything — and a fee the bank has never published.
no published fee to price it against
Skip the arithmetic — the board, ranked → · nothing to sign up for
What it's worth to you, after the fee
Welcome: An Oberoi Hotels gift voucher, redeemed through Oberoi Central Reservations — but the page footnotes it "available at select fee points only", and IndusInd publishes no fee points for this card, so there is no way to tell which (if any) earn it.
Not valued. We can't value this card until the issuer publishes a fee — every net-value number here would be wrong by exactly the fee we can't find. Everything we can source — the earn rate, the transfer routes, the lounge doors — is above and stands on its own; this card is simply not on the board, not in the calculator, and cannot win a best-of call until IndusInd Bank publishes a fee schedule we can cite.
Why we decline to value some cards, and what it takes to change that →
2 notes on the card itself: how it is issued · the network variants
The card's own page prints both marks: "the value of non-cash redemption (excluding airmiles) will be 1 RP = Rs.0.75" and "the value of cash redemption will be 1 RP = Rs.0.50", both effective 1-Mar-2024. We price at ₹0.75 — the better of the two, and the one a reader gets from the IndusMoments catalogue — not at the ₹0.80 house value, which belongs to the Tiger's 1:1 Air India Maharaja route and not to this card. The KrisFlyer exit runs at the bank's 400-for-100 table, ₹0.25 a point, worse than simply paying down the bill.
Best real exit: Singapore Airlines KrisFlyer at ₹0.28/pt (4:1 transfer).
The take
This is the rare card the desk cannot price. IndusInd discontinued it for new sourcing and left the page up "as a reference for existing cardholders", and in doing so left out the one number that decides whether it is worth holding: there is no fee row in the MITC's 24-card table, and no fees-and-charges block on the page. We will not write ₹0 — that would say lifetime free, which nobody has said — so this card carries its benefits and no valuation at all. What it does give a holder is honest enough. A flat 1.5 Reward Points per ₹100 on everything, worth 1.13% at the ₹0.75 the page itself quotes for catalogue redemptions, is better than most entry cards manage and it never asks you to pick a plan. The Visa Signature programme adds up to two complimentary domestic lounge visits a quarter on the primary card, and BookMyShow gives one free ticket a month. Read the lounge line carefully, though: the "complimentary Priority Pass programme" the page advertises is a complimentary MEMBERSHIP, not complimentary visits — IndusInd's own MITC lists the cards whose Priority Pass visits are free until a quota runs out, and this card is not one of them, so every one of those 600+ doors costs up to US$35. Forex is the full 3.5%. If you hold it, hold it for the Visa visits and the 1.13%, and find out what your renewal actually costs before it lands.
Your renewal — keep, downgrade or cancel
There is no renewal arithmetic to run on this card yet — and a break-even we cannot source is not one we will print.
the whole desk — what changed, the downgrade, and what we cannot price →
Keep, downgrade or cancel
what we can and cannot price
Not valued. We can't value this card until the issuer publishes a fee — every net-value number here would be wrong by exactly the fee we can't find. A break-even is the spend at which value crosses a fee, and we are short one side of that sentence — so this desk prints no ladder, no crossing and no ₹0 standing in for either. What we can source about this card is under Sources.
Your copy of this card
You hold this card.
Kept on this device, in your browser. It is never sent to us, never synced, and nothing else on the site reads it yet.
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 we cannot price either side 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
- 1.5 Reward Points per ₹100 on everything — about 1.13% at the ₹0.75 the page quotes for catalogue redemptions
- Up to 2 complimentary lounge visits a quarter on the primary card, via the Visa Signature programme
- One free BookMyShow ticket a month, buy-one-get-one capped at ₹200 (up to 3/month before 1-Jun-2023)
- Complimentary Priority Pass MEMBERSHIP for you and a partner — USD99 each, the bank's own figure
- 24-hour concierge, Auto Assist roadside cover, and Total Protect fraud insurance to the card limit
Watch out
- No fee is published anywhere — no MITC row, no fees block on the page. We decline to value the card rather than score an unknown fee as ₹0
- Discontinued for new sourcing: the page is up only "as a reference for existing IndusInd Bank Signature Visa Credit Cardholders"
- The complimentary Priority Pass is a MEMBERSHIP, not visits — the MITC's free-visits list names Legacy, Celesta, Club Vistara Explorer, Pinnacle, Avios and Tiger, and not this card, so every visit is up to US$35
- Travel Plus, the programme that does carry 8 free lounge usages a year, costs ₹5,000 a year on top
- Forex is the full 3.5% — the MITC names every low-markup card individually and closes "All other Credit Cards (not specified above) - 3.5%"
- 2% dynamic-currency-conversion fee on rupee-billed foreign transactions from 15-Jun-2026
- Fuel earns nothing since 1-Apr-2018, and costs 1% + GST above ₹30,000 a statement cycle from 15-Jun-2026
- Cash redemption is capped at 7,500 points a calendar month and carries a ₹149 fee; every other redemption costs ₹100
- KrisFlyer is a decoy at 400 points for 100 miles — ₹0.25 a point against the ₹0.50 you get in plain cash credit
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
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
72 of 793 tracked doors
Opens 72 of 793 tracked lounge doors across 40 airports , via Visa — see the full map →
Can you get it?
income, age and the route in
The cutoffs and the actual route in — not the "apply now" button, the door that opens.
Closed to new applications — existing cardholders keep the card; there is no way in.
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.
NOT PUBLISHED — the MITC's 24-row fee table has no row for this card, and its product page carries no fees-and-charges block. It is not even in the MITC's "Discontinued cards" line. So joining, annual and add-on fees are all unknown, and the site declines to value the card rather than record a ₹0 that would read as lifetime free (our no-guess rule). Priority Pass MEMBERSHIP is complimentary, but the MITC's list of cards whose Priority Pass visits are free until a quota runs out — Legacy, Celesta, Club Vistara Explorer, Pinnacle, Avios Visa Infinite, Tiger — does not name this card, so every visit is up to US$35. The lounge benefit that IS free is the Visa Signature programme's up-to-2 visits a quarter. 2% dynamic-currency-conversion fee from 15-Jun-2026, and 1% + GST on fuel above ₹30,000 a statement cycle. Cash redemption capped at 7,500 points a month.
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
Not published , and we will not invent it: the annual fee.
Every document behind this page — 4 of them, each with the day we read it
- official IndusInd's BookMyShow offer terms — "The free ticket price is capped at INR 200 for IndusInd Bank Credit Cards", the one document behind the card page's buy-one-get-one
- official Product page — the flat 1.5 Reward Points per ₹100, both redemption marks (Rs.0.75 non-cash, Rs.0.50 cash) and the Visa Signature "up to 2 complimentary lounge visits per quarter"
- official MITC / fee schedule — the 24-row fee table has NO row for this card, and the Priority Pass free-visits list does not name it either
- official Bank KrisFlyer redemption T&C — 400 reward points = 100 KrisFlyer miles, the 4:1 exit this card's Rewards section links to