Latest news with #InfiniaCreditCard
Mint
25-06-2025
- Business
- Mint
Premium credit cards charge over ₹12K as annual fee. Is it worth paying that much?
Premium cards usually bear a high annual fee. In comparison to the free cards or the ones with a fee lower than ₹ 1,000, premium cards are typically quite expensive. Some of these cards tend to charge a fee to the tune of ₹ 12,000 or higher. Is this, therefore, worth getting a premium card? Well, why not? This is fine so long as the services these cards offer and discounts they give make up for the fee. Some of the premium credit cards offer a range of services which include access to golf, special clubs, international lounges, 24X7 concierge service. Let us first give a lowdown on an indicative list of premium credit cards in India. ICICI Bank Emeralde Credit Card: The card offers a range of features including access to most iconic golfing greens in India and around the world. It also offers unlimited access to lounges in domestic and international airports. Axis Bank Magnus Credit Card: This card charges ₹ 12,500 and provides what is known as 'extraordinary weekends' that entails golf lessons, airport concierge service and airport transfer. HDFC Bank Infinia Credit Card (Metal Edition): This card charges ₹ 12,500 annual fee plus taxes. It offers personal concierge services, complimentary Club Marriott membership, offering up to 20 per cent discounts for dining as well as stay. Whether paying an annual fee upward of ₹ 10,000 is reasonable or not depends totally on the cardholder's profile and their lifestyle. For instance, most of the services mentioned above will typically align with a frequent traveller or a golf lover. So, if you love to travel to places in India and abroad, then being able to access lounges at airports worldwide makes a lot of sense. On the other hand, if your work does not require you to travel a lot then ability to access lounges and concierge service is irrelevant. This would, invariably, remain a service that you might have access to but do not use it in your day-to-day life. Likewise, HDFC Bank Infinia Credit Card (Metal Edition) offers Club Marriott membership and ICICI Bank Emeralde Credit Card provides access to iconic golfing will surely be useful to those cardholders who love to play golf and are accustomed to luxurious lifestyles. Otherwise, this is a service you do not need to pay for. Disclaimer: Mint has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit scores. Mint does not promote or encourage taking credit, as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit. For all personal finance updates, visit here
Mint
18-06-2025
- Business
- Mint
What are the premium credit cards? Are they issued only to a select few? Know details here
As a credit card user, have you ever felt the urge to keep a card which is exclusive and special. What if the card gives you access to some special events or exclusive offers? Sounds tempting? Isn't it? These offers are typically given only on some premium credit cards which are cut above the rest. These are not regular vanilla cards with the same boring offers of small discounts on online shopping or reward points. These cards are exclusive and give special offers. There is a surprise, though! These cards could be invite-only or charge a high annual fee. Premium credit cards refer to the cards offered by top banks only to a select few customers falling in the high-income bracket. These cards typically charge a higher annual fee for two reasons: a fair price for the premium services they offer. And to make them exclusive enough for the customers in the high-income bracket. The range of services which these cards provide include access to golf, special clubs, international lounges, 24X7 concierge service. These are some of the premium credit cards offered by top banks ICICI Bank Emeralde Credit Card: This card is given to the applicants who have more than ₹ 1.5 lakh monthly income. The card offers several special features including access to most iconic golfing greens in India and around the world. It also offers unlimited access to lounges in domestic and international airports. Axis Bank Magnus Credit Card: This card charges ₹ 12,500 and provides what is known as 'extraordinary weekends' that entails golf lessons, airport concierge service and airport transfer. HDFC Bank Infinia Credit Card (Metal Edition): This card charges ₹ 12,500 annual fee plus taxes. It offers personal concierge services, complimentary Club Marriott membership, offering up to 20 per cent discounts for dining as well as stay. Disclaimer: Mint has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit scores. Mint does not promote or encourage taking credit, as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit. For all personal finance updates, visit here
Mint
16-06-2025
- Business
- Mint
HDFC Bank Infinia Credit Card: 6 reward points redemption options you shouldn't miss
Most banks award reward points on most credit cards, except for some cards on which they give cashback. The reward points are versatile and can be redeemed against various options. It gives the credit cardholder the flexibility to use the reward points for various purposes depending on the need at the time of redemption. The value per point differs depending on the redemption option chosen. In this article, we will understand the various redemption options that HDFC Bank provides its Infinia credit cardholders. Booking flights and hotels on SmartBuy: Infinia credit cardholders can redeem their reward points for booking flight tickets and/or booking hotel accommodation using HDFC Bank's SmartBuy platform. The reward points can be used for domestic as well as international bookings. The redemption value per point is Rs. 1. The flights and hotel bookings are powered by EaseMyTrip, Yatra, Cleartrip, and Goibibo. The cardholder can use the reward points to make bookings for self and others. The cardholder can pay up to a maximum of 70% of the transaction value with reward points. The remaining 30% transaction value must be paid with the Infinia Credit Card. A maximum of 1,50,000 reward points can be redeemed per calendar month for flights, hotel bookings, and transferring to partners on SmartBuy. Transfer reward points to partners: HDFC Bank has a tie-up with various airline and hotel transfer partners. Infinia credit cardholders can transfer their reward points to any of these transfer partners. Some of these include the following. Transfer partner Transfer ratio Reward points transfer timeline Air India Maharaja Club 2:1 Within 48 to 96 working hours Club ITC 2:1 Within 48 to 96 working hours Spicejet SpiceClub 1:1 Within 24 working hours Air Canada Aeroplan 2:1 Within 24 working hours AirAsia Rewards 1:1 Within 24 working hours Accor Live Limitless (ALL) 2:1 Within 24 working hours Avianca LifeMiles 2:1 Within 24 working hours Etihad Guest 2:1 Within 24 working hours Finnair Plus 1:1 Within 24 working hours Air France Flying Blue 1:1 Within 24 working hours IHG One Rewards 1:1 Within 24 working hours Vietnam Airlines Lotusmiles 1:1 Within 24 working hours Thai Airways Royal Orchid Plus 2:1 Within 24 working hours British Airways Executive Club 2:1 Within 24 working hours Turkish Airlines Miles&Smiles 2:1 Within 24 working hours United MileagePlus 2:1 Within 24 working hours Wyndham Rewards 1:1 Within 24 working hours As you can see above, Infinia credit cardholders can transfer their reward points to 17 transfer partners. The transfer ratio for the conversion of reward points into airmiles or hotel loyalty points differs among various partners. It ranges between 1:1 and 2:1. The timeline for the transfer of reward points to most partners is within 24 working hours. However, for some partners it may take up to 96 working hours for the transferred points to reflect in the partner account. A maximum of 1,50,000 reward points can be redeemed per calendar month for flights, hotel bookings and transferring to partners on SmartBuy. Tanishq Gift Vouchers and Apple products: While travel redemptions can give a good redemption value per reward point, not all Infinia cardholders may want to redeem points for this purpose at all times. Other options that can give good redemption value per reward point include Tanishq Gift Vouchers and Apple products. The Tanishq Gift Vouchers can be bought in various denominations ranging from Rs. 500 to Rs. 10,000. The redemption value for Tanishq Gift Vouchers is Rs. 1/reward point. The cardholder can pay a maximum of 70% of the transaction value with reward points. The balance 30% must be paid with the Infinia card. Redemption of reward points against Tanishq Gift Vouchers is capped at 50,000 reward points for every calendar quarter. Apple products like iPhone, MacBook, watch, iPad, etc., can be bought by redeeming reward points. The redemption value for Apple products is Rs. 1/reward point. The cardholder can pay a maximum of 70% of the transaction value with reward points. The balance 30% must be paid with the Infinia card. Redemption of reward points against Apple Products is capped at one product for every calendar quarter. Gift vouchers: The gift vouchers of various online and offline brands can be bought by redeeming Infinia reward points. The redemption value ranges between Rs. 0.40 to Rs. 0.50 per reward point. Merchandise: In the earlier section, we saw how Infinia credit card reward points can be redeemed against Apple products at Rs. 1/reward point. Apart from Apple products, the reward points can be redeemed against various other merchandise. The categories include electronics, fashion accessories, beauty, wellness, kitchen and home appliances, etc. The redemption value is Rs. 0.50/reward point. Conversion to cash: The reward points can be converted to cash if none of the above-discussed redemption options appeal to you. The redemption value is Rs. 0.30 per reward point. The cash amount will be credited to the credit card account in two working days. The amount will be adjusted towards the next statement balance. Redemption of reward points for cash is capped at 50,000 reward points per calendar month. As we saw in the earlier section, HDFC Bank offers multiple options for Infinia credit cardholders to redeem their reward points. Some options offer a good redemption value, while some offer a lower redemption value. Redeeming points for booking flights and hotels through SmartBuy, transfer to some airline and hotel partners, Apple merchandise, Tanishq Gift Vouchers, etc., offer a good redemption value of Rs. 1/reward point. The cardholder should ideally opt for one of these redemption options. Redeeming points for merchandise and gift vouchers offers a per reward point redemption value in the Rs. 0.40 to Rs. 0.50 range. Conversion of reward points to cash offers the lowest redemption value of Rs. 0.30/per reward point. It should be the last option to redeem reward points. The cardholder should ideally give preference for the redemption option that offers a higher redemption value per reward point. However, it all depends on the need at the time of redemption, and accordingly, the redemption option must be chosen. Gopal Gidwani is a freelance personal finance content writer with 15+ years of experience. He can be reached at LinkedIn.
