Indusind Legend Credit Card Review [2024]

Updated August 25, 2024

We’ve noticed that credit cards with one-time joining fees ‘aren’t usually great.’

The Indusind Legend Credit Card falls into this category. Now, let’s find out if these cards are any different from others.

Table of Contents

Annual Fee

The Legend Credit Card comes with a one-time joining fee of ₹9,999. No annual fees are charged for this card.

Joining fee: ₹9,999
Annual fee: ₹0

Interest Rates

The Legend Credit Card has a interest rate of 3.83% per month (46% per annum). This is a very high rate compared to other credit cards

The APR for balance transfers and cash advances is not specified.

Sign-Up Bonus

The IndusInd Bank Legend Credit Card does not explicitly mention a sign-up bonus.

Credit card promotions and offers can vary over time, so I recommend checking directly with IndusInd Bank or visiting their official website for the most up-to-date details on any sign-up bonuses or introductory offers.

Eligibility of Indusind Legend Credit Card

Age: You must be between 21 and 65 years old.
Citizenship: You must be a citizen of India.
Employment: You should be salaried or self-employed with a steady income.
Minimum income: The minimum income requirement is ₹20,000 per month.
Credit score: You need to have a good credit score with no defaults on previous loans or credit cards.

Benefits and Perks of The Legend Credit Card

Travel Insurance

Comprehensive coverage including:

Lost Baggage reimbursement.
Compensation for Delayed Baggage.
Assistance and coverage for Loss of Passport.
Coverage for Missed Flight Connections.

Extended Warranties

Automatically receive extended warranties on eligible purchases, providing additional coverage beyond the manufacturer’s warranty.

Purchase Protection

Protection against accidental damage or theft of eligible items purchased using the card. Claim reimbursement within a specified period.

Airport Lounge Access

Enjoy complimentary access to select premium airport lounges within India, enhancing your travel experience with comfort and relaxation.

Concierge Services

Personalized assistance with travel bookings, reservations, recommendations, and more, ensuring a seamless experience.

Assurance Features

Additional features including contactless cards, a Montblanc Post Card, and Vouchagram Premium, adding convenience and exclusivity to your card usage.

Rewards Program and Features

Earning Rates

Weekdays: Earn 1 reward point for every ₹100 spent.
Weekends: Get 2 reward points for every ₹100 spent.

Redemption Options

Statement Cash: Convert points into cash credited to your credit card statement.
Airmiles: Redeem points for airline miles with partner airlines.
Products: Choose from a selection of merchandise, gadgets, and lifestyle products.
Gift Vouchers: Exchange points for vouchers from popular brands and retailers.

Restrictions and Considerations

Validity: Points typically expire, so use them before expiration.
Minimum Points: Some options require a minimum number of points.
Conversion Ratio: Value varies based on the chosen redemption option.
Terms and Conditions: Review associated terms before redemption.

Maximizing Benefits

Frequent Usage: Regular use of the card accumulates more points.
Strategic Redemptions: Choose options aligned with your preferences and needs.
Travel and Lifestyle: Prioritize redemptions for frequent travelers or luxury experiences.

Assurance Features

Contactless Card: Secure and convenient payments.
Oberoi Hotels: Enjoy complimentary stays at Oberoi Hotels in India.
Montblanc Post Card: Exclusive luxury benefits.
Vouchagram Premium: Enhance lifestyle experiences.

Digital Age of Banking

Online Transactions: Use the card for booking movie tickets, flight tickets, and utility bill payments.
Flexibility: Embrace digital banking for freedom and flexibility beyond in-person shopping.

Exclusive Entertainment Experiences

Movie Benefits: Enjoy Buy 1, Get 1 movie ticket every month with BookMyShow. Get flat ₹50 off on F&B options when booking through the platform.

Credit Limit Determination

The credit limit on your Legend Credit Card is determined by several factors.

Income: Higher annual income levels may result in a more substantial credit limit.
Creditworthiness: The bank assesses your credit history, credit score, and repayment behavior. Positive credit history enhances your chances of a higher limit.
Existing Debts: The bank considers any outstanding balances or debts with other lenders.
Bank Policies: Each bank has its own policies and criteria for assigning credit limits.

Discretion of the Bank

The credit limit is assigned at the discretion of IndusInd Bank. After reviewing your application and evaluating the factors mentioned above, the bank will determine an appropriate credit limit for you.

Maximizing Your Limit

To potentially increase your credit limit:

Maintain Good Credit: Pay bills on time, manage existing credit responsibly, and maintain a healthy credit score.
Update Income Details: If your income increases, inform the bank to consider a limit adjustment.
Request a Review: Periodically request a credit limit review based on your financial progress.

Hidden Fees

Foreign Transaction Fees

When using your card for transactions in a foreign currency (outside India), a foreign transaction fee may apply.
The fee (1.8% vs 3.5%) percentage varies by card and bank. Refer to the terms and conditions for precise details.

Late Payment Fees

Missing the due date for your credit card payment incurs a late payment fee.
The amount depends on the outstanding balance and the bank’s policies.
Avoid late fees by paying credit card bills on time.

Over-Limit Fees

Exceeding your credit limit may result in an over-limit fee.
Monitor credit utilization to avoid crossing the limit.

Other Fees

Cash Advance Fees: Charged for cash withdrawals using your credit card.
Annual Renewal Fees: Applicable after the first year, if applicable.
Card Replacement Fees: For lost or damaged cards.
Statement Reprint Fees: If additional copies of your credit card statement are required.