Revision in Reward Point Earn Rate of AU Bank Vetta & Zenith Credit Card: AU Small Finance Bank has recently made significant changes to the reward point earn rates for their Vetta and Zenith Credit Cards. These alterations will have a substantial impact on the way cardholders earn rewards, particularly in specific spending categories. In this article, we will delve into the details of these revisions and how they may affect you as a cardholder.
Understanding the Reward Point Changes
AU Bank has decided to revise the reward point structure for utility bills and telecom transactions, which includes payments for services like electricity, water, gas, and television subscriptions. These changes will officially take effect from the 5th of November 2023. Let’s take a closer look at how these changes affect the reward point earn rates:
Vetta Credit Card
- Previous Reward Points Earned: 4 Reward Points (RPs) Per ₹100 Spent
- New Reward Points Earned: 1 RP Per ₹100 Spent
Zenith Credit Card
- Previous Reward Points Earned: 5 Reward Points (RPs) Per ₹100 Spent
- New Reward Points Earned: 1 RP Per ₹100 Spent
Notification for Revision of Reward Points.
These reductions are quite substantial and may lead cardholders to reconsider how they use their AU Bank Vetta and Zenith Credit Cards for utility and telecom payments.
Quick Glance at AU Bank Vetta & Zenith Credit Cards
Before we dive deeper into the implications of these changes, let’s take a quick look at the two credit cards in question.
AU Bank Zenith Credit Card
The AU Bank Zenith Credit Card is a premium offering by AU Bank, featuring an annual membership fee of Rs. 7,999. Despite this fee, it comes with a plethora of elite benefits, including:
- Exciting rewards program
- Milestone benefits
- Lounge access
- Reduced foreign currency markup
These perks make the AU Bank Zenith Credit Card an excellent choice for individuals seeking a high-end credit card experience.
AU Bank Vetta Credit Card
On the other hand, the AU Bank Vetta Credit Card is considered a mid-level credit card and has a more affordable annual membership fee of Rs. 2,999. Additionally, this card offers the potential for the fee to be waived based on certain spending milestones. Key highlights of the AU Bank Vetta Credit Card include:
- Competitive reward rates across various spending categories
Now, let’s explore the implications of the revised reward point structure for these cards.
Last Thought
AU Bank’s decision to reduce the reward points earned for utility bills and telecom transactions with the Vetta and Zenith Credit Cards is significant. These cards previously offered higher reward rates for these categories, making them appealing choices for those expenses.
It’s essential to note that AU Bank is not the only financial institution to implement such changes. Recently, both IndusInd Bank and Axis Bank have also adjusted their reward point structures on select card categories. For example, the IndusInd Bank Platinum Credit Card and IndusInd Bank Signature Credit Card now have a lower reward rate of 0.70 per Rs. 100 spent on utilities. Axis Bank has even removed the cashback on utility bills for the Flipkart Axis Bank Credit Card.
While these credit cards still provide various benefits, such as lounge access or milestone rewards, the reduction in reward points is a noteworthy change. It’s crucial for cardholders to consider how these changes may impact their overall credit card strategy.
Frequently Asked Questions
- Why did AU Bank reduce the reward points for utility bills and telecom transactions? AU Bank made these changes to align its reward point structure with evolving market trends and business strategies.
- Are there any other changes to the AU Bank Vetta and Zenith Credit Cards? As of now, the reduction in reward points for utility bills and telecom transactions is the primary change.
- Can cardholders expect compensatory benefits for these reductions? AU Bank has not announced any compensatory benefits as of yet. Cardholders should keep an eye on further updates.
- How can cardholders maximize their rewards despite these changes? Cardholders can consider using their AU Bank credit cards for other spending categories that still offer competitive reward rates.
- Are these changes permanent, or will AU Bank reconsider them in the future? While AU Bank has implemented these changes, they may reevaluate their reward point structure in response to market dynamics.
In conclusion, the revisions in the reward point earn rate for AU Bank Vetta and Zenith Credit Cards mark a significant shift in the credit card landscape. As these changes come into effect, cardholders should evaluate their card usage and explore alternative ways to maximize their rewards.