IndusInd Legend halves lounge visits — a 50% cut

IndusInd Bank’s Legend card has undergone significant changes, effective 1 March 2024. The card now offers 1 domestic lounge visit per quarter, down from 2, and the cash redemption value has been reduced to ₹0.50 per point, a 33% decrease from the previous ₹0.75 per point. The devaluation primarily affects cardholders who rely on cash redemptions, as the value of their points has decreased substantially. However, the value of points redeemed for non-cash options, excluding airmiles, remains at ₹0.75 per point. Our take: Cardholders who were holding points for cash redemptions should have utilized them before the devaluation. Going forward, it may be more beneficial to explore non-cash redemption options or consider alternative cards that offer better value for cash redemptions. The shift in value towards non-cash redemptions, particularly airmiles, may indicate a strategic nudge by IndusInd Bank towards transfers over statement credit.