AU Bank Altura Credit Card Review

Here’s a detailed review of the AU Small Finance Bank Altura Plus Credit Card:

Overview:

The AU Altura Plus Credit Card is positioned as an upgrade over the standard Altura card, offering a combination of cashback, reward points, and additional benefits. It’s tailored for those looking for value in everyday spending with a focus on both online and offline purchases.

Key Features and Benefits:

• Rewards Program:
  • Cashback: 1.5% cashback on all POS retail spends, with a cap of ₹100 per statement cycle. After reaching this cap, you earn 1 Reward Point per ₹100 spent (excluding fuel).
  • Reward Points: Earn 2 Reward Points for every ₹100 spent on online transactions.
  • Milestone Benefits: Monthly bonus of 500 Reward Points on spending ₹20,000 or more in a calendar month.
• Travel Benefits:
  • Railway Lounge Access: Complimentary access to railway lounges twice every quarter at select stations like New Delhi, Kolkata (Sealdah), Ahmedabad, Jaipur, Madurai, and Agra.
• Spending-Based Waivers:
  • Joining Fee: ₹499 + GST, waived if you spend ₹20,000 within 90 days of card setup.
  • Annual Fee: Same fee, waived upon spending ₹80,000 in the previous card anniversary year.
• Additional Benefits:
  • Fuel Surcharge Waiver: 1% waiver on fuel transactions between ₹400 to ₹5,000, up to ₹150 per statement cycle.
  • Zero Liability: Protection against fraudulent transactions reported within a specified time.

Pros:

• Dual Rewards System: Offers both cashback and reward points, providing flexibility in earning and redemption.
• No Annual Fee: If you meet the spending criteria for waivers, it effectively becomes a lifetime free (LTF) card.
• Railway Lounge: Beneficial for frequent rail travelers.

Cons:

• Cashback Cap: The monthly limit on cashback might not satisfy high spenders looking for unlimited cashback.
• Limited Lounge Access: Only railway lounges and no airport lounge access might be a drawback for air travelers.
• Reward Rate: While good, the reward rate on offline spends beyond the cashback cap is somewhat low compared to competitors.

User Experience:

• Ease of Use: The card’s benefits are straightforward, but users need to be aware of spending caps and thresholds for fee waivers.
• Customer Service: AU Bank’s customer service has mixed reviews. Some appreciate the responsiveness, while others have reported issues with transaction disputes or feature management.

Sentiment from X and Web Reviews:

• X Posts and Web Reviews: Users often commend the card for its cashback and reward combination, especially if they can hit the spending milestones for fee waivers. However:
  • Pros: Appreciated for its dual rewards structure and the potential to be LTF.
  • Cons: Criticism includes the low reward rate post-cashback cap and the absence of airport lounge access. Some users express disappointment if they were expecting more comprehensive travel benefits.

Eligibility:

• Age: Must be between 21 to 60 years for the primary cardholder, with add-on cardholders over 18.
• Income:
  • Salaried: A minimum monthly income of around ₹15,000 to ₹25,000 is generally required.
  • Self-Employed: An annual income of about ₹3 lakh might be necessary.
• Residency: Must be an Indian resident.
• Credit Score: A decent credit score, ideally above 650, would improve approval chances.

Application Process:

Online Application:

1. Visit AU Bank Website:
   • Navigate to the AU Bank site.
   • Click on ‘Apply Now’ for the Altura Credit Card.
2. Fill Application Form:
   • Provide your personal, employment, and financial details.
3. KYC Verification:
   • Digital KYC: Often involves uploading documents or a video KYC:
     • Identity Proof (Aadhaar, PAN)
     • Address Proof
     • Income Proof (Salary Slips, Bank Statements, ITR for self-employed)
4. Digital Submission:
   • Upload or submit details of the required documents online.
5. Application Review:
   • AU Bank reviews your application, which might take up to 20 days.
6. Approval and Card Issuance:
   • Once approved, you’ll be notified. A digital card might be issued for immediate use, with the physical card following.

Offline Application:

• Visit an AU Bank Branch:
  • Bring all necessary documents, fill out the application, and submit for KYC verification.

Spending Considerations:

• Maximizing Benefits:
  • Cashback: Focus on spending on groceries, utility bills, and departmental stores to earn 2% cashback.
  • Milestone Cashback: Aim to spend ₹10,000 per statement cycle for the additional ₹50.
• Fee Waivers:
  • Plan your spending to meet the waiver thresholds for both joining and annual fees.
• Railway Lounge: Use this perk if you travel by train frequently.

Reward Points Redemption:

• Cashback: Automatically credited to your account.
• Other Redemptions: Not applicable as this card focuses on cashback rather than reward points.

Conclusion:

The AU Altura Plus Credit Card is well-suited for individuals who can leverage both its cashback and reward points, particularly those who spend significantly online or at POS. If you’re a frequent train traveler, the railway lounge benefit adds value. However, for those seeking broader travel perks like airport lounge access or higher reward rates on all offline spending, other cards might be more suitable. The card’s true value shines if you can meet the spending thresholds for fee waivers, effectively making it a cost-effective choice for regular users.