IndusInd Bank Iconia Credit Card Review

Review Summary

The IndusInd Bank Iconia Credit Card is a premium card for middle to high-income people. This card will give you maximum benefit when used for Travel, Entertainment and dining. This card has two variants named Amex and Visa. Both the variants offer additional benefits along with benefits of the card.

You can earn up to 2 reward points for every Rs. 100 spent where your reward rate varies from 0.75%-2%. You can redeem your accumulated reward points for The more store, Airlines miles on partner airlines, Cash Credit, Genesis Luxury Vouchers, Oberoi Hotels and resorts stay vouchers. You get all the benefits of this card with a one time joining fee which varies between Rs. 3000 to Rs. 17999. The interest rate charges are 3.83% monthly (46% annually).

In this review

Card Rating
Pros and Cons
IndusInd Bank Iconia Credit Card: Features and Details
IndusInd Bank Iconia Credit Card: Benefits
AMEX Variant Benefits
Visa Variant Benefits
Where IndusInd Bank Iconia Credit Card falls short!
IndusInd Bank Iconia Credit Card Fees and Charges
Why should you sign-up for this card?
How to use the card to maximise the benefits
Is this the right card for you?
Similar cards: In case IndusInd Bank Iconia Credit Card doesn’t impress you!
IndusInd Iconia Vs SBI Prime Credit card
IndusInd Iconia Vs HDFC Diners Premium Credit card
IndusInd Iconia Vs IndusInd Signature Credit card
Final Word

IndusInd Bank Iconia

Info

Pros
  • Additional AMEX Benefits
  • Additional Visa Benefits
  • Discounts on Movie and Dining
  • Airport lounge access
  • Concierge Services, Auto assist, Auto Assurance
Cons
  • High Joining Fee
  • High Interest Rate
  • No cash back

Additional

  • Multiple options for welcome gift
  • Enjoy 1 complimentary golf lesson and 1 complimentary game
  • Earn 2 Reward Points for every Rs. 100 spent on weekends i.e. Saturday and Sunday(AMEX)
  • Earn 1.5 reward points for every Rs. 100 spent on weekdays i.e. Monday to Friday(AMEX)
  • Get up to Rs. 200 off on movie tickets per month
  • Unlimited Complimentary lounge access (AMEX)
  • Earn 1 Reward Points for every Rs. 100 spent on weekends i.e. Saturday and Sunday(VISA)
  • Earn .75 reward points for every Rs. 100 spent on weekdays i.e. Monday to Friday (VISA)
  • Complimentary Priority Pass program

Card Rating

MeasuresRating (Out of 5)
Annual Fees 2.5
Rewards3
Features4
Interest rate2
Joining Bonus3.5

Pros and Cons

ProsCons
Additional AMEX BenefitsHigh Joining Fee
Additional Visa BenefitsNo cash back
Discounts on Movie and DiningHigh Interest Rate
Lounge Access
Concierge Services, Auto assist, Auto Assurance

IndusInd Bank Iconia Credit Card: Features and Details

Joining Fees17999
RewardsUp to 2 reward points for every Rs. 100 spent
Default Payment Charges 3.83% per month
Over-limit penalty 2.5% of the over-limit amount (Minimum Rs. 500)
Foreign Currency Transaction 3.5%
Cash Advance Fees 2.50% of the cash withdrawal or minimum of Rs. 300

Late Payment ChargesUpto Rs. 100- Nil
Rs. 101 to Rs. 500- Rs. 100
Rs. 501 to 1000- Rs. 350
Rs. 1001 to 10000- Rs. 550
Above 10000- Rs. 700

IndusInd Bank Iconia Credit Card: Benefits

IndusInd Iconia Welcome Gift

This card offers a voucher for shopping as the welcome gift. You can choose a voucher from your favourite brands like Pantaloons, Hidesign, Woodland, United Colors of Benetton, Satyapaul, Jet airways and Yatra which is subject to joining fee. The card charges a variable joining fee from Rs. 3,000 to Rs. 17,999 depending upon which you get your welcome gift.

IndusInd Bank Iconia Credit Card Shopping

How can you get this voucher?
  1. Once payment of joining fee has been done, the Eligible Cardholders will receive an SMS from IndusInd Bank with a Unique Code within 15 days.
  2. SMS the Unique Code and the voucher of your choice to 53030.
  3. You will receive the Voucher code of your choice to your registered mobile number.
Note:
  1. Voucher code will be valid for 6 months from the date of issue
  2. Voucher can be redeemed only at the participating outlets.
  3. Voucher code once selected cannot be exchanged.
  4. The voucher you will receive will depend up on the amount of joining fee. 

IndusInd Iconia Golf Privileges

Eligible Card holders can enjoy 1 complimentary golf lesson and 1 complimentary game specially hosted at specified locations on Weekdays and weekends as per schedule.

IndusInd Bank Iconia credit Card Golf

IndusInd Iconia Concierge Services

You just need to call and ask for assistance and the rest will be taken care of. Be it hotel reservations, pre-trip assistance, booking of flights and events, sending flowers and gifts to your special ones everything will be done.

Fuel Surcharge Waiver

With IndusInd Iconia Credit Card you can plan more road trips as you get fuel surcharge waiver every time you purchase fuel for a minimum transaction of Rs. 400 and maximum of Rs. 4000. However, a cap can be imposed by IndusInd Bank for the maximum fuel surcharge waiver allowed per month. If you’re someone who drives daily so this additional benefit on credit card can be one of the advantages on the list.

IndusInd Iconia Auto Assist

We all believe that journey is more important than the final destination. And with Auto assist service this card makes sure that you will have a priceless experience of your journey. Auto assist includes services like roadside repair service, flat tyre service, emergency fuel supply, Keys Locked Inside, Battery Service, Emergency Towing Assistance and Accident Management and Medical Assistance.

IndusInd Iconia Assurance

You don’t need to worry about fraudulent transactions through your credit card anymore. Total protect by this card covers Unauthorised Transactions in case of loss/ theft of Card and Counterfeit Fraud. Also, you get an air accident insurance cover up to Rs. 25 lakh.

IndusInd Iconia Dining Offers

With IndusInd Iconia Credit Card you can get up to 20% discount on dining. However, a booking fee of Rs. 2 per person will be charged which is not refundable. Also, the discount is not valid for home delivery.

IndusInd Bank Iconia credit Card Dining

AMEX Variant Benefits

IndusInd Iconia Amex Rewards

With IndusInd Iconia Amex Variant you can earn 2 Reward Points for every Rs. 100 spent on weekends i.e. Saturday and Sunday. Earn 1.5 reward points for every Rs. 100 spent on weekdays i.e. Monday to Friday.

IndusInd Iconia Amex Rewards Redemption

You can redeem your accumulated reward points for The more store, Airlines miles on partner airlines, Cash Credit, Genesis Luxury Vouchers, Oberoi Hotels and resorts stay vouchers. The value of 1 reward Point is Rs. 1. Your reward rate varies from 1.50%-2%. A minimum of 500 reward points is required for redemption towards cash credit and airline miles.

IndusInd Iconia Amex Movie offers

You can get Up to Rs. 200 off on movie tickets any day with this card. All you need to do is go to www.bookmyshow.com and avail the discount. You can avail this discount once in a month.

You can get 2 movie tickets free in a calendar month at Sathyam Cinemas in Chennai Only. This offer will only be available for tickets priced up to Rs. 120.

 IndusInd Iconia Amex Lounge Access

Unlimited Complimentary lounge access at airports across the world can be availed at selected lounges to have a great travel experience.

Special offers by Amercian Express Connect

It provides a wide range of special offers on categories like

  1. Air Travel: For the ones who love to explore the world.
  2. Online Shopping: For the busy shopaholics.
  3. Car rentals: For the adventurous ones.
  4. Hotels: For the ones who like to travel.
  5. Dining: For the foodie ones.
  6. Retail: To upgrade your style quotient.

No need to enter your credit card details anymore

American Express ezeClick is a smarter, faster and secure online payment solution in which you need to punch just a single user ID to shop online rather than providing details of Credit Card.

Online payments made easy with American Express EPAY

An easy, convenient and secure way to make online payments. Pay your utility and telephone bills, magazine subscription, insurance policy premiums, and even donate to NGOs anytime, anywhere.

VISA Variant Benefits

IndusInd Iconia Visa Rewards

With IndusInd Iconia Visa Variant you can earn 1 Reward Points for every Rs. 100 spent on weekends i.e. Saturday and Sunday. Earn .75 reward points for every Rs. 100 spent on weekdays i.e. Monday to Friday.

IndusInd Iconia Visa Rewards Redemption

You can redeem your accumulated reward points for The more store, Airlines miles on partner airlines, Cash Credit, Genesis Luxury Vouchers, Oberoi Hotels and resorts stay vouchers. The value of 1 reward Point is Rs. 1. Your reward rate varies from 0.75%-1%. A minimum of 500 reward points is required for redemption towards cash credit and airline miles.

IndusInd Iconia Visa Movie offers

You can get Up to Rs. 200 off on movie tickets any day with this card. All you need to do is go to www.bookmyshow.com and avail the discount. You can avail this discount once in a month.

You can get 2 movie tickets free in a calendar month at Sathyam Cinemas in Chennai Only. This offer will only be available for tickets priced up to Rs. 120.

IndusInd Iconia Visa Travel offers

Priority Pass Program

You get complimentary Priority Pass program which gives you access to over 600 airport lounges all over the globe. If you love to relax at the airport before your flight takes off you can enjoy the comfortable services provided by over 600 lounges. However, you will be charged a fee of US $99*2= US $198.

Lounge Access

You get up to 8 complimentary lounge access per year where Value of each lounge access is $27 but you get this in just an enrollment fees of Rs. 5000.

Where the IndusInd Bank Iconia Credit Card falls short!

High-interest rate

If you usually roll over the balance from month to month by making minimum payments, then this could be a problem for you. IndusInd Bank Iconia Credit Card charges a slightly higher rate of 3.83% per month (46% per annum) as compared to its peers. You could be paying higher payments over time with this slightly higher interest rate. If this is not the case and you make full payments each month, then you can consider this card.

High Joining Fees

Since you are getting a lot of benefits and features with IndusInd Iconia Credit Card, you have to pay a joining fee which can be up to Rs. 17999. One good thing is that you don’t have any annual fee. If you don’t want to pay a high joining fee, you can consider other cards. Although the high joining fees is justified. However, there are other cards which charge a lower fee or no fee which you can see in similar cards section.

No cash back, only Rewards

IndusInd Iconia Credit Card offers you a decent reward program in which you can earn up to 2 reward points for every Rs. 100 spent. However, there are other cards which offer better rewards program which you can see in the similar cards section. Also, this card does not offer any opportunity to earn cash back. If you like cards that offer the immediate benefit of cash backs, the All Miles card might not be a good fit for you.

IndusInd Bank Iconia Credit Card Fees and Charges

Default payment charges

If you default on your payments, i.e., if you don’t pay the minimum amount due as per the last credit card statement by the payment due date, the interest charged can increase up to 3.83% per month, i.e. (46% annually). This will be very costly for you if you are someone who defaults on payments regularly. It is a good habit to pay your bills before the due date. This will help in maintaining a good credit score which will, in turn, help you in getting better credit card deals and loans in the future.

Cash Advance charges

Withdrawing cash from your credit card should be your last resort. When you run out of all other options, only then should you withdraw cash from your credit card. The reason being that interest starts accruing on your transaction as soon as you make the withdrawal. On top of that a one time fee of 2.50% of the cash withdrawal or minimum of Rs. 300 is charged.

Late Payment Charges

If you are not able to pay your outstanding balance in full, you will incur late payment charges. These charges depend on your balance statement and are described in the table below:

Outstanding balanceLate fees
Up to Rs. 100 Nil
Rs. 101 - Rs. 500Rs. 100
Rs. 501 - Rs. 1000Rs. 350
Rs. 1001 - Rs. 10000
Rs. 550
Above Rs. 10000Rs. 700

Overseas transaction

You have the option of using your card outside India. However, you will be charged a foreign transaction fee for the same. For international transactions in US Dollars, you will be charged 3.5% of the INR equivalent of the US Dollar amount. If the transaction takes place in some other currency than US Dollars, then the transaction would be converted to US Dollars first, and then 3.5% charge would be levied on the INR equivalent of the US Dollars.

Over Limit Penalty

If by any chance you have spent more than your card limit then you will be charged 2.5% of the over-limit amount (Minimum Rs. 500). For example, your card limit is Rs. 30000 and your spends are 35000 then according to 2.5% of the over-limit amount comes to Rs. 125 but you are supposed to pay Rs. 500 as the minimum amount which needs to be paid is Rs. 500.

Why should you Sign-up for this card?

  1. Fuel surcharge waiver at all petrol pumps
  2. Discount on movies
  3. Lounge Access
  4. Additional Amex Benefits
  5. Additional Visa Benefits
  6. Dining Offers
  7. Auto Assist
  8. Concierge Services

How to use the card to maximise the benefits

After going through the benefits and shortfalls of IndusInd Bank Iconia Credit Card, Let’s see what’s the best way to maximise the benefits.

Use the card to Dine Out

You can get up to 20% discounts on your dining bill. In addition, you get offers every month to choose from.

Use the card to book your movie tickets

The card offers you up to Rs. 200 off on movie tickets any day at bookmyshow.com. This offer can be used once in a month.

If you are from Chennai, then you can get 2 movie tickets free in a calendar month at Sathyam Cinemas. However, this offer will only be available for tickets priced up to Rs. 120.

Use your card on Weekends

Use your card to pay on weekends as you can earn up to 2 reward points for every Rs. 100 spent.

Is this the right card for you?

If you are someone who enjoys movies and dining a lot along with travelling, then this card is a perfect fit as this card offers lounge access, discounts on movies and dining. All these with a one-time fee of just Rs. 17,999. If this card fits into the checklist of your requirements and you can pay extra charges for the benefits you get, then this is the right card for you.

Similar Cards: In case IndusInd Bank Iconia Credit Card doesn’t impress you!

This card can give you the most benefits when used for movie, dining. In this section, we will be comparing other cards to IndusInd Bank Iconia Credit Card which offer similar rewards/offers. So if you are still looking for cards after going through the benefits and shortfalls, then read this section carefully to choose a card which fits into the checklist of your requirements.

IndusInd Iconia Vs SBI Prime Credit Card

Another premium card is SBI Prime credit card which is best used for Utility Bill payments. We have taken this card for comparison as it offers better features than Iconia Card.

CategoryIndusInd IconiaSBI Prime
Welcome GiftOption to choose a voucher from your favourite brandsVoucher of Rs. 3000
Reward RateVaries from 0.75%-1% (Visa Variant)
Varies from 1%-2% (Amex Variant)

Varies from 2.5%-5%
Lounge AccessMaximum 8 up on paying a nominal fees (Visa Variant)
Unlimited Complimentary access (AMEX Variant)
4 International
8 Domestic
Dining OffersUp to 20% at participating outletsThere are no special offers on dining
However, you get 10 reward points for every Rs. 100 spent
Finance Charges3.83%3.35%
Movie offersDiscount on movies on bookmyshow and Sathyam cinemas.There are no special offers on movies
However, you get 10 reward points for every Rs. 100 spent
Better Welcome gift By SBI Prime

SBI Prime credit card gives you a voucher of Rs. 3000 from any of the partner brands like Marks and Spencer, Bata/Hush Puppies, Shoppers Stop, Pantaloons, Yatra.com. Where as IndusInd Iconia Credit Card offers you a voucher to choose from brands like pantaloons, United colours of Benetton, Hidesign, Woodland, Jet airways and Yatra.

Reward Rate of SBI Prime is Superior

If rewards are your priority go for SBI Prime. SBI Prime Credit Card offers you up to 20 reward points on every Rs. 100 spent. The reward rate offered by this card varies from 2.5%-5%. Where as IndusInd Iconia Credit Card offers you up to 2 reward points for every Rs. 100 spent. The reward rate offered by this card is 0.75-2%.

Unlimited Complimentary Lounge Access by IndusInd Iconia Amex Variant

If you want free lounge access go for IndusInd Iconia Amex as you get unlimited complimentary lounge access. You will need to pay Rs. 5000 to get 8 lounge access per year if you have IndusInd Bank Iconia (Visa Variant) credit card. With SBI Prime Credit card you get free airport lounge visits (4 per year) at international priority lounges and domestic VISA/MasterCard (8 per year) lounges in India.

SBI Prime has low Finance Charges

SBI Prime Card charges an interest rate of 3.35% per month (40.20% annually) which is lower when we compare it to IndusInd Iconia Credit Card which charges an interest rate of 3.83% (46% annually).

Bottom Line

As discussed SBI Prime Credit card offers a lot of benefits, but it also charges an annual fee of Rs. 2999. Where as IndusInd Iconia Credit Card charges a variable joining fee from Rs. 3000 to Rs. 17999 and charges no annual fee. You get a lot of benefits with SBI Prime Card over IndusInd Iconia Credit Card in terms of reward points, dining, movies etc.

IndusInd Iconia Vs HDFC Diners Premium Credit Card

Another premium card is HDFC Diners Premium Credit card which is best used to complement your lifestyle. HDFC Diners Premium has better features and reward rate that is why we have compared this to Iconia Card.

CategoryIndusInd IconiaHDFC Diners Premium
Welcome GiftOption to choose a voucher from your favourite brands2500 Bonus Points
Reward RateVaries from 0.75%-1% (Visa Variant)
Varies from 1%-2% (Amex Variant)
Varies from 1.33%-13.33%
Lounge AccessMaximum 8 up on paying a nominal fees (Visa Variant)
Unlimited Complimentary access (AMEX Variant)
Unlimited complimentary access to domestic airport lounges
5 complimentary access globally
Dining OffersUp to 20% at participating outletsNo Dining offers
Movie offersDiscount on movies on bookmyshow and Sathyam cinemas.No Movie offers
Superior Reward Rate by HDFC Diners Premium

Reward rate offered by HDFC Diners Premium Credit Card varies from 1.33%-13.33% which is better than of IndusInd Iconia Credit Card which offers a reward rate between 0.75-2%.

Unlimited Complimentary Lounge Access by HDFC Diners Premium

If you don’t want to pay for lounge access, go for HDFC Diners Premium. You will need to pay Rs. 5000 to get 8 lounge access per year if you have IndusInd Bank Iconia credit card (Visa Variant). However, with HDFC Diners Premium you get unlimited complimentary access to domestic airport lounges and 5 complimentary access globally.

Bottom Line

As discussed HDFC Diners Premium Credit card offers a lot of benefits, but it also charges an annual fee of Rs. 2500. Where as IndusInd Iconia Credit Card charges a joining fee of Rs. 17999 and charges no annual fee. HDFC Diners Premium Card provides a lot of benefits over Iconia Card in terms of reward rate, lounge access, welcome gift. However, it does not provide any offers on movie and dining. So if you want the benefit on movie and dining then you can consider Iconia.

IndusInd Iconia Vs IndusInd Signature Credit Card

Another premium card is IndusInd Bank Signature credit card which is best used for dining, travel and entertainment and is very similar to IndusInd Iconia. The only difference you get is in reward rate:

Better Reward Rate by IndusInd Iconia

Reward rate offered by IndusInd Iconia Credit Card which offers a reward rate between 0.75-2% which is better than of IndusInd Signature Credit Card is 1.5%.

Bottom Line

As discussed IndusInd Signature Credit card offers a better lounge access and welcome gift, but it also charges a high joining fee of Rs. 50,000 which is high when compared to IndusInd Iconia Credit Card which charges a variable joining fee up to Rs. 17,999 and gives you the additional benefit of variants along with benefits of the card.

Final Word

This review of IndusInd Bank Iconia Credit Card must have helped you in understanding the benefits and drawbacks of the Card. To summarize, you can earn up to 2 reward points for every Rs. 100 spent. Also, you get additional benefits like fuel surcharge waiver at all petrol pumps, lounge access, discounts on movies and dining, concierge services, Amex benefits, Visa benefits and lot more.

However, one disadvantage can be that the interest rate is on the higher end. So if your search is still on then, you can read the reviews of other cards as well and decide which card fits your checklist of requirements.