A life that’s fully equipped is a good life. But a life that’s fully luxurious, is a Grand Life. A lifestyle that allows you to spread your wings wider and explore all the new genres of life that makes it feel like a Fiesta.
IndusInd Bank and Club Vistara have come together to launch a new co-branded credit card called Club Vistara IndusInd Bank Explorer Credit Card. This makes the third partnership for Club Vistara co-branded credit cards, with Axis Bank and SBI Cards already on board as the first and second co-branded card partners.
Club Vistara IndusInd Bank Explorer Credit Card
With IndusInd Bank, the partnership is completely revamped, as compared to the first two partnerships. Being the first partner, Axis Bank made a deal to launch cards that catered to the entire spectrum, from entry-level cards to jaw-dropping top-of-the-line super-premium products. With SBI Cards, Vistara made a deal that allowed SBI Cards to be able to offer to its client base, entry-level and mid-tier cards, but SBI Cards did not enter the super-premium card segment with a Vistara co-brand card. Now, IndusInd enters the market with one of a kind super-super premium top-tier card.
Let’s go over the salient features of the Club Vistara IndusInd Bank Explorer Credit Card.
- Welcome Benefits: The Club Vistara IndusInd Bank Explorer Credit Card comes with free goodies and benefits, to justify the INR 40,000 fee it plans to charge in the first year as Joining fees. Here are the benefits it offers for the first year:
- Club Vistara Gold Tier: Unlike the Axis Bank Vistara Infinite Credit Card which offers CV Gold Tier for as long as you are holding the card, IndusInd Bank provides Vistara Gold membership only for the first year of holding the card, subject to having paid the joining fee.
- Welcome Ticket: You also get a complimentary business class ticket voucher (taxes payable) from Vistara on payment of the joining fee, which allows you to book a business class ticket on Vistara’s domestic network.
- Vouchers worth INR 25,000: You can choose from a variety of vouchers to receive any one from IndusInd Bank:
- Luxe Gift Card: You can receive vouchers worth INR 25,000 for spends at premium Reliance Brands stores, such as Coach, Tumi, Satya Paul, Boss, Micheal Kors, Armani Exchange, Hamleys and so on. Vouchers are divided into INR 5,000 values. Vouchers are only valid for six months.
- Oberoi Voucher: Another option is to receive an Oberoi Hotels and Resorts stay voucher, which gets you a one-night (room/suite) stay at various Oberoi properties in India on a double occupancy basis. Each hotel has a defined room/suite they would provide against the vouchers.
- Vouchers at Multiple Brands worth INR 25,000: Via a voucher generation portal called Vouchagram, IndusInd Bank is offering vouchers at stores such as Charles & Keith, Louis Philippe, Bata, Hush Puppies, Aldo, Vero Moda, William Penn, Titan, Pantaloons, Hidesign, Woodland and UCB.
Check out Now: Business Class Tickets at the Lowest Price
- Earning Points: In terms of earning points, you earn Club Vistara Points for every transaction in the following ratios:
- Spends on Vistara’s website for direct bookings: 8 CV Points/INR 200 spent. 6 CV Points will be credited immediately, and 2 CV Points 45 days after the transaction.
- Spends on Hotel, Airline, Travel: 6 CV Points/INR 200 spent.
- Spends on Utility, Insurance, Government Payment, Fuel: 1 CV Point/INR 200 spent
- All other spends: 2 CV Point/INR 200 spent
- Milestone Ticket Vouchers: In terms of ticket vouchers, you earn Club Vistara Business Class tickets at every INR 3 Lakh spent up to INR 15 Lakh spends.
- No Foreign Currency Markup: This takes the game to a completely different level, offering No FCY makes it one of the only cards in the country which is absorbing the FCY markup on spends made abroad.
- Lounge Access: 16 visits per annum (4 trips per quarter) to international lounges are complimentary by way of a Priority Pass issued, and four visits per annum (1 per quarter) to domestic lounges by way of swiping the card itself at lounges.
The card costs INR 40,000 for the first year (Issuance Charges), and then INR 10,000 (Annual Fee) from the second year onwards.
The IndusInd Bank co-branded partnership with Vistara is a pretty complicated product structure with hundreds of clauses merged together, much like most IndusInd credit cards are. For instance, back in the day, IndusInd offered a Jet co-brand card where you get more points on the weekend spend than on weekday spends. Now, different categories get different spending, with spending on lifestyle getting more points/priority than regular spending.
The card pays you back the initiation fee in the first year with the INR 25K vouchers and a Business Class (J Class) ticket, but you are on your own from the second year onwards. There is no clause for fee waiver, probably because it’s a co-branded card which is a major source of revenue for the co-brand organisations. For example, you only get a welcome J Class ticket in the first year.
It is also shocking that this card is on a Visa Signature platform and not on the Visa Infinite network, which would have allowed it to draw more perks from the Visa bouquet of network perks (unless there are plans to launch a more super-premium card later).
In this case, Vistara held all the cards in case of the product negotiation. Back in the day, having handed out a sweetheart deal to Axis Bank to provide them with a Vistara Gold membership for all its cardmembers for as long as they held the card, Vistara has not given out this perk to any other bank anymore. Here, they backed off, but only limiting it to just a year one rather than as an evergreen benefit. Well, we could say that it is a beneficial move for Vistara given the perks enjoyed by the Vistara Gold Members.
The Club Vistara IndusInd Bank Explorer Credit Card offers
- Vistara Gold membership
- A free J Class ticket
- Vouchers for Oberoi Stay or for shopping for the first year and (depending upon the spends) up to five tickets on Vistara’s Business Class.
- Second-year onwards, you only get the milestone benefits and not the welcome benefits. In terms of earning, you get 8 CV Points/INR 200 spent on Vistara spends, 6 CV Points/INR 200 spent on other travel spends, and 2 CV Points/INR 200 spent on regular spending.