MyFinCards
Platinum Select Credit Card (Discontinued)

Joining Fee

₹2,000

Annual Fee

Rs. 2000 + Taxes

IndusInd Bank
Rewards
Lifestyle
Fuel
Best For: Existing cardholders managing ongoing benefits, Frequent fuel spenders seeking surcharge waiver, Travelers needing basic travel insurance

Platinum Select Credit Card (Discontinued)

Rewards Structure

Base Reward Rate

0.67% on spends

Point Value

1 Point = ₹0.6

Pros

  • Fuel surcharge waiver at all petrol pumps across India
  • Travel insurance coverage for multiple scenarios
  • Total Protect fraud insurance up to credit limit
  • Reward points redeemable for cash, merchandise, and airline miles
  • Welcome gift vouchers from popular brands

Cons

  • Discontinued product — no new applications accepted
  • BookMyShow BOGO offer discontinued from October 2022
  • Fuel transactions do not accrue reward points effective April 2018
  • Cash redemption value reduced to 1 RP = Rs.0.40 from March 2024
  • Non-cash redemption value 1 RP = Rs.0.60 from March 2024
  • Cash redemption capped at 2500 reward points per calendar month from September 2024

Hidden Catches (Transparency Policy)

To build trust with our users, we highlight the fine print that issuers often tuck away in policy documents.

Reward points not earned on fuel transactions from April 2018

Welcome gift only applicable on select fee plans

Cash redemption capped at 2500 points per calendar month

Club Vistara and InterMiles redemption discontinued

Redemption program revised for select merchant categories from August 2019

Key Benefits & Features

Welcome gift vouchers from brands like Pantaloons, Bata, Raymond, Charles and Keith, Hush Puppies (applicable on select fee plan)

Airline Miles redemption on KrisFlyer; InterMiles redemption discontinued from 21st January 2025; Club Vistara Airmiles discontinued from 31st Oct 2024

Notable Exclusions

No reward points on fuel transactionsRevised rewards program for select merchant categories

*Exclusions may apply to EMI transactions, fuel, and wallet reloads based on current bank policy.

Official Terms & Conditions

About Platinum Select Credit Card (Discontinued)

The IndusInd Bank Platinum Select Credit Card is a premium lifestyle card designed to cater to every aspect of cardholders' everyday needs. Though discontinued for new applicants, it continues to serve existing holders with a well-rounded set of rewards and benefits. Cardholders earn 1 reward point for every Rs. 150 spent, with flexible redemption options including cash credit, IndusMoments, airline miles on KrisFlyer, and the Pay with Rewards program. From 1st March 2024, non-cash redemptions are valued at Rs. 0.60 per point, while cash redemptions are valued at Rs. 0.40 per point, with a monthly cap of 2,500 points for cash redemption effective September 2024. Beyond rewards, the card offers practical everyday savings through a 1% fuel surcharge waiver at petrol pumps across India. Travelers benefit from comprehensive travel insurance coverage, including protection for lost baggage, delayed baggage, passport loss, lost tickets, and missed connections, underwritten by ICICI Lombard. The card also features Total Protect, a fraud protection program covering unauthorized transactions up to the credit limit, including incidents up to 48 hours before the loss is reported, as well as protection against counterfeit fraud. Welcome gift vouchers from select lifestyle brands further add value for eligible cardholders.

Expert Review

Our Verdict

Discontinued premium card with reward points, fuel surcharge waiver, movie perks & travel insurance.

Frequently Asked QuestionsAbout Platinum Select Credit Card (Discontinued)

APPLICATIONIs the Platinum Select Credit Card still available for new applications?
No, the IndusInd Bank Platinum Select Credit Card has been discontinued for new sourcing. The product page is maintained only as a reference for existing Platinum Select Credit Cardholders. If you are looking for a new credit card, IndusInd Bank offers a range of other credit card products that may match your lifestyle needs.
REWARDSHow many reward points do I earn on the Platinum Select Credit Card?
You earn 1 reward point for every ₹150 spent on the IndusInd Bank Platinum Select Credit Card. However, please note that effective 1st April 2018, fuel transactions will not accrue reward points. Additionally, from 1st August 2019, the rewards program was revised for select merchant categories. You can use your card for business or pleasure to keep growing your reward points balance.
REWARDSWhat is the redemption value of reward points on the Platinum Select Credit Card?
From 1st March 2024, the redemption values are as follows: for non-cash redemption (excluding airmiles), 1 Reward Point = ₹0.60; for cash redemption, 1 Reward Point = ₹0.40. Previously, the cash redemption value was higher, so existing cardholders should factor in the revised rates when planning their redemptions.
USAGEWhat are the reward points redemption options available on the Platinum Select Credit Card?
Reward points on the Platinum Select Credit Card can be redeemed through the following options: IndusMoments (merchandise and lifestyle products), Pay with Rewards, Airline Miles on KrisFlyer, and cash credit. Please note that Club Vistara Airmiles redemption on IndusMoments was discontinued effective 31st October 2024, and InterMiles redemption was discontinued effective 21st January 2025.
REWARDSIs there a cap on cash redemption of reward points?
Yes, effective 1st September 2024, the maximum reward points allowed for cash redemption have been capped at 2,500 reward points per calendar month. This means cardholders can redeem a maximum of ₹1,000 (2,500 × ₹0.40) as cash credit in a single calendar month. Non-cash redemption options are not subject to this monthly cap.
BENEFITSWhat fuel benefits does the Platinum Select Credit Card offer?
The Platinum Select Credit Card offers a 1% fuel surcharge waiver at any petrol pump across India. For example, if you spend ₹2,000 per month on fuel, you save ₹20 per month, amounting to ₹240 in annual savings. However, please note that effective 1st April 2018, fuel transactions do not accrue reward points on this card.
BENEFITSWhat travel insurance benefits are available on the Platinum Select Credit Card?
IndusInd Bank has tied up with ICICI Lombard General Insurance Company Limited to provide travel insurance coverage for Platinum Select Credit Cardholders. The coverage includes: Lost Baggage up to ₹1,00,000; Delayed Baggage up to ₹25,000; Loss of Passport up to ₹50,000; Lost Ticket up to ₹25,000; and Missed Connection up to ₹25,000. Terms and conditions apply.
BENEFITSWhat is the Total Protect fraud insurance on the Platinum Select Credit Card?
'Total Protect' is a fraud insurance program that covers cardholders for a sum up to their credit limit. It covers unauthorised transactions in case of loss or theft of the card, providing insurance cover up to 48 hours prior to reporting the loss to IndusInd Bank. It also covers counterfeit fraud, where your card or card details are stolen and used to produce counterfeit plastic. This benefit extends to add-on cards as well.
BENEFITSWhat welcome benefits are offered on the Platinum Select Credit Card?
The Platinum Select Credit Card offers welcome gift vouchers from popular brands through Vouchagram. Cardholders can enjoy discount vouchers from multiple brands including Pantaloons, Bata, Raymond, Charles and Keith, Hush Puppies, and more. Please note that the welcome gift is only applicable on select fee plans, and the list of brands is subject to change at the discretion of the bank and Vouchagram.
BENEFITSIs the BookMyShow Buy One Get One (BOGO) offer still available on the Platinum Select Credit Card?
No, the BookMyShow Buy One Get One (BOGO) free movie ticket offer on the IndusInd Bank Platinum Select Credit Card was discontinued effective 1st October 2022. This offer previously allowed cardholders to buy one movie ticket and get another one free on BookMyShow and Satyam Cinema. Existing cardholders should note that this benefit is no longer active.
FEESWhat are the joining and annual fees for the Platinum Select Credit Card?
The Platinum Select Credit Card is a discontinued product, and specific fee details are no longer publicly listed for new applicants. As this card is no longer available for new sourcing, fee information is only relevant to existing cardholders. Existing cardholders should refer to their card agreement or contact IndusInd Bank customer support for details about their applicable fee plan.
REWARDSDo reward points on the Platinum Select Credit Card expire?
The page content does not specify an expiry period for reward points on the Platinum Select Credit Card. However, it is common for credit card reward points to have an expiry date. Existing cardholders are advised to check the generic terms and conditions available on the IndusInd Bank website or contact customer support to confirm the validity period of their accumulated reward points.
OTHERWhat network does the Platinum Select Credit Card operate on?
The IndusInd Bank Platinum Select Credit Card operates on the Visa network. This means it is accepted at millions of merchants, ATMs, and online platforms both in India and internationally wherever Visa cards are accepted. As the card is discontinued for new applications, this information is relevant primarily to existing cardholders who continue to use the card.
USAGEHow can I redeem my reward points on the Platinum Select Credit Card?
To redeem reward points on the Platinum Select Credit Card, you can visit the IndusInd Bank website and navigate to the redemption portal. Options include IndusMoments for merchandise, Pay with Rewards for purchases, KrisFlyer Airline Miles, and cash credit to your account. The steps to redeem are available on the IndusInd Bank credit card rewards page. Note that cash redemption is capped at 2,500 points per calendar month from September 2024.
APPLICATIONWhat alternative credit cards does IndusInd Bank offer in place of the discontinued Platinum Select Credit Card?
IndusInd Bank offers several alternative credit cards for customers looking to apply for a new card. Some comparable options include the Legend Visa Credit Card, which offers rewards on weekend spends and bonus points on yearly spends, as well as a range of lifetime-free credit cards. You can explore IndusInd Bank's full credit card lineup on their website to find a card that best suits your lifestyle and spending habits.

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