AU Bank Zenith Credit Card Review

Here’s a comprehensive review of the AU Small Finance Bank Zenith Credit Card:

Overview:

The AU Zenith Credit Card is a premium offering by AU Small Finance Bank, aimed at high-income individuals looking for a mix of lifestyle, travel, and reward benefits. It’s known for its luxurious features, including insurance, lounge access, and a competitive reward program.

Key Features and Benefits:

• Rewards Program:
  • Earning:
    • Regular Spends: 1 Reward Point (RP) per ₹100, with a redemption value of ₹0.25 per point.
    • Accelerated Rewards:
      • 4 RPs per ₹100 on dining at standalone restaurants (5% value back).
      • 2 RPs per ₹100 on grocery, departmental store, and international spends (2.5% value back).
• Welcome Benefits:
  • Vouchers: ₹1,000 worth of vouchers on the first POS transaction.
  • Bonus Reward Points: 10,000 RPs on spending ₹1 lakh within 90 days of card setup.
• Travel Perks:
  • Lounge Access:
    • Domestic: 4 complimentary visits per quarter.
    • Railway: 2 complimentary visits per quarter.
  • Insurance: Comprehensive travel insurance including baggage loss, flight delay, and air accident cover up to ₹2 crore.
• Lifestyle and Entertainment:
  • Movie Discounts: 50% off up to ₹250 on BookMyShow once per month.
  • Dining: Global concierge services for dining and hotel bookings.
• Fees:
  • Joining/Renewal Fee: ₹7,999 + GST, but offered Lifetime Free (LTF) for certain government and MNC employees.

Pros:

• High Reward Rate: Especially on dining and grocery, which are common spending categories.
• Comprehensive Insurance: Adds significant value for travelers.
• Lounge Access: Both airport and railway, enhancing the travel experience.

Cons:

• High Annual Fee: Only justifiable if you can leverage the benefits or are eligible for LTF.
• Limited LTF Availability: Not everyone qualifies for the lifetime free offer, making it less accessible.
• Reward Points Value: While good for specific categories, the base rate is not the highest in the market.

User Experience:

• Ease of Use: The card’s rewards are straightforward, especially for those in the LTF category. However, users have noted that the bank’s digital platforms could be more user-friendly.
• Customer Service: AU Bank’s customer service receives mixed feedback. Some users appreciate the service, while others report challenges in resolving issues promptly.

Sentiment from X (Twitter) and Web Reviews:

• Posts on X and web reviews often praise the card’s benefits for those who qualify for LTF, highlighting the reward rate on dining and grocery:
  • Pros: Excellent for those who can get it LTF or fully utilize the travel and insurance benefits.
  • Cons: The high fee without LTF is a significant deterrent. There’s also feedback about the need for better digital engagement from AU Bank.

Me (Grok): Here’s the information on eligibility, application process, and reward points redemption for the AU Zenith Credit Card:

Eligibility Criteria:

• Age: The primary cardholder should be between 21 to 60 years old, while add-on cardholders must be 18 years or above.
• Income:
  • Salaried Individuals: Typically requires a minimum annual income of around ₹10 lakh.
  • Self-Employed: Might need an annual income of ₹12 lakh or more.
• Residency: Must be an Indian resident.
• Credit Score: A high credit score, generally above 750, is advantageous, reflecting the card’s premium status.
• Profession: Often, the card is offered Lifetime Free (LTF) to employees of specific government sectors or large MNCs. For others, standard eligibility criteria apply.

Application Process:

Online Application:

1. Visit AU Small Finance Bank Website or Partner Sites:
   • Go to the AU Bank website, or sometimes through partner platforms like Paisabazaar where you can express interest.
   • Look for the Zenith Credit Card and click ‘Apply Now’ or similar.
2. Fill Application Form:
   • Provide:
     • Personal Details (Name, DOB, Address)
     • Employment Information (Company, Salary, etc.)
     • Financial Information (Annual Income, Existing Liabilities)
3. KYC Verification:
   • Digital KYC: AU Bank might conduct a video KYC or require document uploads:
     • Required documents include:
       • Proof of Identity (PAN Card, Aadhaar)
       • Proof of Address
       • Income Proof (Salary Slips, Bank Statements, ITR for self-employed)
4. Digital Submission:
   • Upload or provide details of the required documents online.
5. Application Review:
   • The bank reviews your application, which might take up to 20 days, depending on document verification and credit checks.
6. Approval and Card Issuance:
   • Upon approval, you’ll receive notification. A digital card might be issued for immediate use, with the physical card following.

Offline Application:

• Visit an AU Bank Branch:
  • Go to the nearest AU Small Finance Bank branch with all necessary documents.
  • Fill the physical application form.
  • Submit documents for KYC verification in person.
• Application Review: The process might be expedited if documents are in order and there’s direct interaction with bank staff.

Reward Points Redemption:

• Redemption Platform:
  • Points are redeemed via the AU Rewardz portal. Log in using your registered mobile number.
• Redemption Options:
  • Merchandise: Redeem for products, though often not recommended due to lower value.
  • Shopping Vouchers: From brands like Amazon Pay, with each point valued at about ₹0.20.
  • Mobile/DTH Recharge: Points can be turned into recharge credits.
  • Travel: Including flights, hotels, and bus bookings, where 1 RP might be worth ₹0.25.
  • Airmiles: Convertible only to Vistara CV Points at a 4 RP = 1 CV Point ratio.
• Redemption Process:
  • Select Category: On the AU Rewardz portal, choose the category for redemption.
  • Choose Items or Services: Add to the cart what you want to redeem.
  • Redeem Points: Specify how many points you want to use. There’s usually a redemption fee (₹99 + GST).
  • Confirmation: After confirming, points are deducted, and you receive details of your redemption.
• Points Value:
  • Points generally have a redemption value of ₹0.25 for most options, but for vouchers, it’s ₹0.20 per point.

Additional Tips:

• Monitor Application: Keep track of your email or registered mobile number for updates.
• Credit Score: If you’re unsure about approval, check your credit score and work on improving it if necessary.
• Redemption Strategy: Plan your redemptions to get the best value, focusing on travel or vouchers where points are worth more.

Conclusion:

The AU Zenith Credit Card is a strong choice for individuals who can secure it as a lifetime free card through their employment or meet the spending and benefit utilization to offset the annual fee. Its rewards on dining and grocery are particularly lucrative, and the insurance adds substantial value for frequent travelers. However, for those not in the LTF category, assessing if the card’s premium benefits justify the high annual cost is crucial.