Equitas Bank PowerMiles Credit Card
- Joining fee
₹5,000 + GST
- Annual fee
₹5,000 + GST
- Best suited for
Travel, Shopping
- Reward type
Reward Points
Rewards
- Rewards rate
3 Reward Points for ₹100 Spent; 3X Reward Points for International POS and Online Purchases
- Welcome benefits
Complimentary Club Marriott and EazyDiner Memberships
- Reward redemption
Redeem Reward Points at 1:1 Ratio for Luxury Brands & Experiences
Benefits
- Movie & dining
Up to 50% Off With EazyDiner Prime
- Domestic lounge
2 Complimentary Access Per Quarter
- International lounge
1 Complimentary Access Per Quarter
Fees & charges
- Spend-based waiver
Spend ₹4.8 Lakh in an Anniversary Year for Annual Fee Waiver
- Foreign currency markup
2%
- Interest rates
3.75% Per Month (45% Annually)
- Fuel surcharge waiver
1% Waiver Up to ₹3,000 on Transactions Between ₹500 & ₹3,000
- Cash advance charges
2.5% or ₹250, Whichever is Higher
Product highlights
- The card’s premium metal body gives it a sophisticated, high-end feel, making it an attractive choice for luxury lovers.
- Cardholders who spend ₹4 lakh or more in an anniversary year can benefit from an annual fee waiver, making it a cost-effective option for high spenders.
- The card includes a ₹1 crore air accident cover, providing financial security and peace of mind for frequent travelers, especially those who book their flights using the card.
Pros & cons
Pros
- The card offers a low foreign currency markup of just 2%, making it a cost-effective option for those who frequently make international transactions.
- It allows for seamless points transfer to partner loyalty programs at a 1:1 ratio, enabling cardholders to maximize their rewards for travel and luxury experiences.
- The card provides an accelerated reward rate for international spending, granting 3X reward points on international POS and online purchases. It enhances its appeal for frequent travelers and individuals who spend significantly on foreign transactions.
Cons
- The card comes with a ₹3,500 charge for add-on credit cards, which may be considered high compared to other premium offerings.
- The card does not offer exclusive perks for movie or dining experiences, making it less appealing to those who frequently spend in these categories.
FAQs
What are the welcome benefits offered with the Equitas Bank PowerMiles credit card?
The card comes with Club Marriott Membership (including a complimentary spouse membership) and EazyDiner Membership.
What is the foreign currency markup on the Equitas Bank PowerMiles credit card?
The card offers a 2% forex markup on all international transactions, making it ideal for travelers.
What transactions do not earn reward points?
Reward points are not awarded on transactions related to rent payments, wallet reloads, EMI payments, fuel purchases, government transactions, and education fees.
Is there a spend-based fee waiver available?
Yes, if you spend ₹4.8 lakh in a year, the annual fee of ₹5,000 + GST is waived.