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HomeFinanceThe diverse benefits offered by AU Small Finance Bank's travel credit card

The diverse benefits offered by AU Small Finance Bank’s travel credit card

AU Small Finance Bank (AU SFB) and the travel booking platform ixigo have introduced their premium co-branded travel credit card, which offers a range of rewards and benefits.

The AU-ixigo Travel Credit Card provides up to a 10% discount on flight bookings, instant discounts on hotel bookings, and zero payment gateway charges for train bookings, among other deals, according to a statement released on November 2.

The launch of the card by AU SFB follows the introduction of several new category-based credit cards by different lenders to attract customers in specific sectors. In addition, banks and NBFCs have been partnering with brands to offer exclusive rewards with their credit cards.

“Research from the World Travel & Tourism Council (WTTC) suggests that the travel sector is set to experience significant growth, with an expected year-on-year growth of 20.7% in 2024, surpassing pre-pandemic levels. This growth indicates a strong spending trend among Indian tourists in 2023,” said Sanjay Agarwal, Founder and MD & CEO of AU Small Finance Bank.

With this offering, the companies aim to target travelers in Tier II and III markets.

“This strategic partnership combines AU SFB’s financial expertise with ixigo’s deep penetration in tier 2 and tier 3 markets, aiming to offer their customers a seamless blend of premium financial rewards with unparalleled travel benefits,” said the statement.

Here are some of the rewards the credit card offers:

  • The co-branded card offers travelers discounts of up to 10% on flight, bus, and hotel bookings via the ixigo platform.
  • The company said that the benefits are designed for train travelers, including zero payment gateway charges for train bookings twice a month and rewarding reward points for both offline and online spending.
  • The card provides access to up to 8 railway lounges and 8 domestic airport lounges per calendar year, along with one international lounge access per year (Priority Pass available upon request), making it unique among OTA travel credit cards.
  • As a joining bonus, customers receive 1000 reward points and ixigo money worth Rs 1000 on their first successful transaction within the initial 30 days of card issuance.
  • Customers also get a 1% fuel surcharge waiver on transactions, making driving more cost-effective.
  • The card has an annual fee of Rs. 999 + GST, which is waived with just Rs. 1000 spending in the initial 30 days, and the annual fee for the following year is also waived with a minimum spend of Rs 1 Lakh in the preceding year.
  • The card also offers a low international purchase fee of 1.99%.
  • AU Rewardz program for redeeming reward points on e-vouchers, merchandise, mobile/DTH recharges, and travel bookings.
  • Card Liability Cover with zero liability for fraudulent transactions post-loss reporting.
  • Credit Shield coverage up to INR 1.5 Lakhs.
  • Contactless card usage for secure, quick payments under Rs 5,000 without a PIN.
  • XpressEMI to convert transactions of Rs 2,000 or more into EMI options.
  • Free lifetime Add-on Cards to share benefits with loved ones.

“With this innovative card, we aim to redefine the travel experience, providing customers with access to credit along with unmatched benefits,” said Rajnish Kumar and Aloke Bajpai, Co-founders of ixigo.

Travelers looking for a credit card with exclusive benefits can explore options like the Club Vistara IDFC FIRST Credit Card, Standard Chartered EaseMyTrip Card, SBI Card ELITE, HDFC Regalia Gold, and Axis Bank Select. These cards also provide co-branded benefits with airlines like Vistara, Air India, IndiGo, and others, making them particularly suitable for frequent flyers.

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