I opened my relationship with IndusInd Bank about two years ago because I could choose my own account number (except the first two digits reserved for branch code). When I give my IndusInd account number to friends, they often ask, “Is that really your account?” — the point being that IndusInd lets you pick a memorable, stylish account number.
- Joining fee: Rs. 10,000 + GST with a welcome voucher (other lower options such as Rs. 3,500 may be available)
- Renewal fee: Nil
A notable aspect of IndusInd is that many of their credit cards do not carry an annual fee.
IndusInd Iconia American Express Credit Card
After holding an IndusInd Exclusive account for about a year, I decided to apply for one of their credit cards. I chose the Iconia American Express card because it offered 2% value back on weekend spending, and that included fuel at the time (possibly a temporary promotion). Below is a concise overview of the key features and benefits of the IndusInd Iconia Amex card.
Features of IndusInd Iconia American Express Credit Card:
- Weekend spends – 2% value back
- Weekday spends – 1.5% value back
- Reward points on fuel as well, plus an additional 0.75% cashback on fuel where applicable under government rules
- Unlimited domestic airport lounge access
- BookMyShow buy-one-get-one offer (quota often gets exhausted quickly)
- Good festive offers, typically around Diwali
For a more detailed benefits breakdown, there are dedicated reviews elsewhere that cover the card comprehensively.
Although I have other cards that offer higher rewards, I picked this one intending to upgrade later to a higher-tier IndusInd card such as the Pinnacle variant. Upgrading this way avoids maintaining a higher average balance in my Exclusive account.
IndusInd Credit Card application process
I applied through a branch using an “HNI quota” because my city wasn’t part of the standard service area. The branch required only my IndusInd account statement and PAN details. This card is largely account-transaction based; the bank did not ask for ITRs or details of other bank credit cards. The process went as follows:
- Signed the documents and opted for the Rs. 10,000 voucher benefit
- Two weeks passed with no SMS or email update
- I called the branch manager to check the status
- The application was approved the next day
- The card was dispatched and delivered within four days
Important note: IndusInd does not provide a public credit card application tracking system for allocations like mine. Branch staff appear to have direct access to the credits team and can check status.
First impressions
The card’s look is an understated gray rather than the black I expected. I always make a small transaction after receiving a card to confirm it works, so I attempted a Rs. 100 charge on a wallet. The first transaction failed: the 3D Secure page did not prompt for an OTP, the SMS indicated the account was debited, the wallet was not funded, and at the time I did not have access to the mobile app or net banking to view card details. Frustrating.
I then registered for net banking. The bank’s message said the card would link in three days, but it took over a week. The net banking interface felt limited compared with competitors. The mobile app required a separate card registration too — another process that took about a week. Oddly, the mobile app offers more card management features than net banking does.
Credit limit on IndusInd Iconia
My assigned credit limit was a low six-figure amount. This is likely influenced by the number of active cards I have and how other banks report (or don’t report) limits to credit bureaus. When I asked the branch about increasing the limit, they said there’s no mandatory wait time — I could submit three years of ITRs to request enhancement. I’m not seeking an increase right now because I don’t plan to use the card for large transactions.
Redeeming the welcome voucher
About a week after my first statement, I received an SMS saying I was eligible to select a welcome voucher. I chose a Pantaloons voucher, which was delivered instantly via SMS as a digital voucher valid for one year.
Bottom line
Overall, my experience with an IndusInd credit card has been mixed. There were system outages twice in the past couple of months, and the bank did not complete card-account linking before dispatch, which should be standard. The Amex variant has compatibility quirks with some merchants such as certain online retailers.
That said, this card can still serve as a useful backup and may be a good option for fuel spending at select pumps (for example, where no surcharge is applied).
Is the Rs. 10,000 joining fee worth it? One way to rationalize it is to treat the joining fee as the cost of a planned purchase: if you spend Rs. 10,000 at an eligible retailer and receive the voucher, you’ve effectively paid nothing upfront for the card. Others will have different calculations — choose what fits your spending and value expectations.
If you hold the Iconia Amex or any other IndusInd credit card, consider sharing your experience in the comments section where this was originally posted.