AU Small Finance Limited (AU SFB) has launched the first customizable credit card in India, known as the AU LITE Credit Card. This means that cardholders can choose the features they want on their card and make payments only for those selected features. AYU Bank has introduced an innovative and unique credit card in the market. While other credit card companies launch multiple cards with different features and benefits, AU Bank has taken the initiative to provide a credit card with customization features, the AU LITE Credit Card.
Choosing the best credit card among the various options available in the market, each with different features, can be difficult and confusing for customers. Many customers have multiple cards and have to pay several fees each year. AU Bank has capitalized on this opportunity and launched the first feature of customizing a credit card, the AU LITE Credit Card. The bank has launched several other cards with excellent benefits, but the AU LITE Card stands out with its unique features.
The AU LITE Credit Card comes with numerous conveniences and benefits. Cardholders can log in to the AU 0101 app and select the feature they wish to use for the next 90 days and make payments accordingly. The card provides an excellent way to earn reward points, such as 1 reward point for every rupee spent. It also offers 10X or 5X instant reward points on retail spends and the chosen specific feature. Additionally, the card provides fantastic cashback benefits on the selected feature. Moreover, the card offers complimentary memberships to premium brands like ZEE5, Amazon Prime, and others. For travelers, the card provides attractive cashback offers and free access to airport lounges. Simply choose your desired feature, make the payment, and enjoy the benefits and privileges.
Let’s learn more about AU innovative card with the detailed review provided below:
- Joining Fee- NIL
- Renewal Fee- Nil
- Best Suited For- Movies | Travel | Dining | Fuel | Shopping
- Reward Type- Reward Points
- Welcome Benefits- NIL
Rewards and Benefits
- Movie & Dining- 3 Months of complimentary Membership of Zee5, Amazon Prime and Additional 5% cashback for Dining expenses.
- Rewards Rate- 1 Reward Point for every Rs. 100 spent on retail with the card, 10X or 5X accelerated Reward Points (For Specific Feature) and Additional cashbacks (For Specific Feature)
- Reward Redemption- Redeem Reward Points for exciting discounts and offers.
- Travel- Complimentary access to domestic lounges in India.
- Golf- NA
- Domestic Lounge Access- 4 complimentary lounge access per quarter
- International Lounge Access- NIL
- Insurance Benefits- NA
- Zero Liability Protection- Zero liability of the cardholder against fraudulent transactions in the event of loss or theft of the credit card if the same is reported to the customer care of the bank within 7 days from the loss of the card.
Fees & Charges
- Spend based Waiver- NA
- Rewards Redemption Fee- Nil
- Foreign Currency Markup- 3.49% on all foreign currency spends.
- Interest Rates- 3.49% per month
- Fuel Surcharge- 1% fuel surcharge waiver for fuel transactions between Rs. 400 and Rs. 5,000.
- Cash Advance Charge- 2.5% of the transaction amount (subject to a minimum charge of Rs. 100)
- Add-on Card Fee- Nil
Product Details
- India’s First customizable Credit card.
- Choose whichever feature you want and whenever you want with the card.
- 3 Months of Free Membership of Zee5, Amazon Prime and Cult.fit
- For every Rs. 100 spent on retail transactions, you will get 1 Reward Point.
- 10X or 5X accelerated Reward Points on all online and offline transactions.
- Surcharge waiver of 1% on all fuel transactions between Rs. 400 to Rs. 5,000.
- 5% and 2% cashback on retail spends on achieving the spend target.
- Additional 5% cashback for travel, dining and grocery expenses.
- 4 complimentary lounge access per quarter
AU Bank LIT Credit Card Features & Benefits
The AU Small Finance Bank LITE Credit Card, as mentioned, is India’s first customizable credit card that allows you to choose your desired feature and make payments only for that feature and nothing else. This card provides excellent benefits for lifestyle, groceries, travel, and much more.
This credit card offers almost every benefit and allows its holders to choose one or more features/categories at a time. It enables customers to benefit from the selected category and make payments only for that specific feature, rather than paying the full annual fee for the card.
AU Bank LIT Credit Card – Which Features You can Choose
With the AU Bank LIT credit card, you have the power to choose your benefits and rewards. You can choose as many features you want by paying for each one, and they are valid for a 90-day period. Currently, there are six benefit categories for cardholders to choose from –
Airport Lounge Access
With this benefit, you can have a comfortable time during your travels and get benefits worth up to Rs. 3600. The following are the prices associated with this feature, applicable for a 90-day period.
- Get 1 visit to domestic airport lounges in India – Rs. 199 for 90 days
- Get 2 visits to domestic airport lounges in India – Rs. 299 for 90 days
Memberships
Get access to some of the most popular and in-demand subscription services, and get benefits worth up to Rs. 1200. The following are the prices associated with this feature, applicable for a 90-day period
- 3 Months Zee5 Membership – Rs. 99 for 90 days. You must spend at least Rs. 5000 during the 90-day period, else you will be charged a Rs. 50 penalty.
- 3 Months Amazon Prime Membership – Rs. 199 for 90 days. You must spend at least Rs. 10,000 during the 90-day period, else you will be charged a Rs. 100 penalty.
- 3 Months Cult.fit Membership – Rs. 499 for 90 days. You must spend at least Rs. 20,000 during the 90-day period, else you will be charged a Rs. 200 penalty.
Milestone Cashback
Get additional cashback on reaching the minimum spend amount and get benefits worth Rs. 3000. The following are the prices associated with this feature, applicable for a 30-day period.
- Get 5% Additional Cashback – Rs. 299 for 30 days. You will be eligible for the cashback on spending a minimum of Rs. 7500, excluding fuel, cash advance, and rent spends. You can earn a maximum cashback of Rs. 500 per month.
- Get 2% Additional Cashback – Rs. 199 for 30 days. You will be eligible for the cashback on spending a minimum of Rs. 10,000, excluding fuel, cash advance, and rent spends. You can earn a maximum cashback of Rs. 100 per month.
5x/10x Rewards
You can earn bonus up to 10x rewards on your online and offline spends with this feature.
For Online Spends –
Get 10x Reward Points on Online Spends – Rs. 299 for 90 days. You can earn 10x reward points on your online spends, but rent, cash withdrawal, and fuel spends are not eligible.
Get 5x Reward Points on Online Spends – Rs. 199 for 90 days. You can earn 5x reward points on your online spends, but rent, cash withdrawal, and fuel spends are not eligible.
For Offline Spends –
Get 10x Reward Points on Offline Spends – Rs. 299 for 90 days. You can earn 10x reward points on your offline spends, but rent, cash withdrawal, and fuel spends are not eligible.
Get 5x Reward Points on Offline Spends – Rs. 199 for 90 days. You can earn 5x reward points on your offline spends, but rent, cash withdrawal, and fuel spends are not eligible.
Category Cashback
You can earn cashback on spends across different categories with this feature and get benefits worth up to Rs. 3000 per category.
- Get 5% Cashback on Grocery Spends – Rs. 299 for 90 days. You can earn a maximum cashback of Rs. 1000 per month.
- Get 5% Cashback on Travel Spends – Rs. 299 for 90 days. You can earn a maximum cashback of Rs. 1000 per month.
- Get 5% Cashback on Dining Spends – Rs. 299 for 90 days. You can earn a maximum cashback of Rs. 1000 per month.
- Get 5% Cashback on Electronics Spends – Rs. 299 for 90 days. You can earn a maximum cashback of Rs. 1000 per month.
- Get 5% Cashback on Apparel Spends – Rs. 199 for 90 days. You can earn a maximum cashback of Rs. 1000 per month.
Fuel Surcharge Waiver
Get 1% Fuel Surcharge Waiver – Rs. 49 for 90 days. The waiver is applicable on all transactions ranging between Rs. 400 to Rs. 5000.
You can choose whichever feature you want based on your needs, requirements, and spending habits. The pricing for each feature is valid for a 90-day period and is levied once you opt-in for a specific feature. Each feature chosen by you is on auto-renewal and you will have to disable auto-renewal, if you don’t want to continue with a particular feature after 90 days.
AU Bank LIT Credit Card Base Reward Points
1 Reward Point for every Rs. 100 retail spends done on the Card. Cash withdrawal, EMI and fuel transactions will not be considered for the earning of Base Reward Points.
Reward Points Redemption
The reward points earned with the AU Small Finance Bank LIT Credit Card can be redeemed for many benefits like:
- Redeem against the purchase of Merchandise.
- For booking tickets for flights, hotels, buses and movies.
- Use Points for recharge of Mobile or DTH.
- Book Golf sessions at golf courses across India.
- Redeem your points for E-gift Vouchers.
- Convert your Reward Points to Air miles.
How To Select The Category Of Your Choice?
- Open the AU 0101 App and go to the Credit Card Homepage, select ‘Manage Credit Card’ to get the list of available benefits and choose the one that you want.
- Get the price of each category and choose the one that fits your budget and needs.
- Get to modify the benefit as per your choice and get what you want.
- You can manage and track your cashback and the reward points you earned and also get to know how much is left to earn to complete the target.
Eligibility Criteria
There are certain conditions that need to be fulfilled in order to be eligible to apply for AU Bank LIT Credit Card. These criteria are mentioned below in the table:
Criteria |
Categories |
| Age | Primary cardholder between the age of 21 years and 60 yearsAdd-on cardholder should be over 18 years |
| Residency Status | Indian |
Other than this, the applicants should have a stable source of income, however, the minimum salary requirements are not disclosed clearly by the issuer.
Documents Required
The documents required to apply for the AU Bank LIT Credit Card are listed below:
- Identity Proof: Aadhar Card, PAN Card, Voter’s ID, Passport, or Driving License.
- Address Proof: Latest months’ utility bills, Aadhar Card, Ration card, Driving License, etc.
- Proof of Income: Latest months’ salary slips/bank statements, or latest audited ITR.
How To Apply For The AU Bank LIT Credit Card?
The AU Bank LIT Credit Card can be applied both through online and offline modes. To apply online, you can follow a few simple steps as mentioned below:
- Visit the AU Bank’s official website.
- Under the section ‘Cards,’ select Credit Cards and then ‘LIT Credit Card.’
- Click on ‘Apply Now,’
- Proceed further by filling in the required details.
To apply for this credit card through an offline process, all you have to do is to visit the nearest bank branch and fill in the credit card application form and attach the documents required.
Conclusion:
The AU Small Finance Bank LITE Credit Card is specifically designed for individuals who want to enjoy the benefits of multiple credit cards in a single card. The LITE Card allows cardholders to choose one or more benefits and enjoy them within a limited timeframe, eliminating the hassle of maintaining multiple cards and providing customers with great flexibility. Moreover, the LITE Card is completely free for life, meaning that cardholders do not need to pay any fees when they are not using the card for their chosen benefits. The card offers all the other benefits that a typical credit card holder usually needs, such as fantastic rewards points, ample cashback, fuel surcharge waivers, lounge access, and much more.
This offering by AU Bank is a unique proposition as the bank has capitalized on the problem and launched India’s first customizable card, where anyone can avail themselves of the specific feature they need at any given time. ICICI Bank also provides a similar credit card called the ICICI Bank Mine Credit Card, which is an affordable card that allows holders to choose their rewards program according to their preferences. Now, the LITE Credit Card offered by AYU Bank appears to be a strong competitor to the ICICI Bank Mine Card.
That concludes our review of the card. Please let us know what you think about this credit card in the comments below. Additionally, feel free to share any features you would like the bank to add to this card.
