Introduction
The AU LIT (Live It Today) Credit Card, issued by AU Small Finance Bank, stands out as the first fully customizable credit card in the Indian banking sector. This innovative card is designed to cater specifically to the dynamic needs of Gen Z and Millennials, providing unparalleled control over the features and benefits to match individual preferences and spending patterns. Whether the cardholder is inclined towards shopping, travel, dining, or entertainment, the LIT Credit Card offers the flexibility to tailor rewards and benefits, making it an ideal choice for those seeking a personalized financial tool.
- Fully Customizable Features
- Lifetime Free
- Generous Rewards and Cashback
- Milestone Benefits
- Fuel Surcharge Waiver
- Airport Lounge Access
- Complimentary Memberships
- User-Friendly App
- Advanced Security
- Global Acceptance
- High Interest Rates
- Cash Advance Charges
- Limited Promotional Offers
- Late Payment Charges
- Potential for Over-Customization
- Age Restrictions
Card Features and Benefits
The AU LIT (Live It Today) Credit Card offers a unique array of customizable features and benefits designed to meet the specific needs and preferences of its users. Below are the key features and benefits:
- Shopping Rewards:
- Earn accelerated 10x or 5x reward points on all online or offline domestic and international transactions. This makes the card highly beneficial for frequent shoppers looking to maximize their reward points.
- Milestone Cashback:
- Enjoy an additional 5% or 2% cashback on retail spending along with one reward point for every INR 100 spent. This feature rewards cardholders for reaching spending milestones, providing extra value for regular use.
- Fuel Surcharge Waiver:
- Benefit from a 1% fuel surcharge waiver on transactions ranging from INR 400 to INR 5,000. This is particularly advantageous for those who frequently use their vehicle and make regular fuel purchases.
- Category Cashback:
- Receive 5% cashback on travel, dining, groceries, apparel, and electronics along with one reward point for every INR 100 spent. This wide range of cashback categories ensures that various spending habits are rewarded.
- Airport Lounge Access:
- Get up to 4 complimentary lounge visits per quarter at airports, enhancing the travel experience with comfort and convenience.
- Memberships:
- Eligibility for a 3-month membership to popular services such as ZEE5, Amazon Prime, and Cult.fit, adding extra value through entertainment and wellness benefits.
These features make the AU LIT Credit Card a versatile and highly customizable option for users seeking specific rewards and benefits tailored to their lifestyle.
User Experience
The AU LIT (Live It Today) Credit Card provides a user experience that is both flexible and intuitive, catering to the tech-savvy and preference-driven approach of Gen Z and Millennials. Here's an overview of the user experience:
- Customization and Control:
- The standout feature of the LIT Credit Card is its customizable nature. Users have the power to select and modify card features according to their spending patterns and lifestyle preferences. This flexibility ensures that cardholders can tailor their benefits to maximize value.
- AU 0101 App:
- The AU 0101 mobile app serves as a central hub for managing the LIT Credit Card. Through the app, users can easily customize their card features, track their rewards and cashback, and monitor spending. The app's user-friendly interface enhances the overall experience, making it simple for cardholders to adjust their benefits as needed.
- Application Process:
- The process to apply for the AU LIT Credit Card is streamlined and convenient. Prospective cardholders can visit the AU Small Finance Bank website, scan a QR code to download the AU 0101 app, and complete the application process directly through the app. This digital-first approach simplifies obtaining the card, aligning with the preferences of a tech-savvy audience.
- Reward Tracking:
- The AU 0101 app allows users to keep a close eye on their rewards and cashback earnings. This transparency ensures that cardholders are always aware of their benefits and can make informed decisions about their spending to maximize rewards.
- Customer Support:
- AU Small Finance Bank provides robust customer support to assist with any issues or queries. Whether through the app, website, or direct contact, users can access help and guidance whenever needed, ensuring a smooth and hassle-free experience.
- Add-on Cardholders:
- The option to include add-on cardholders provides additional flexibility, allowing primary cardholders to extend the benefits to family members. This feature is particularly useful for managing family expenses and maximizing rewards collectively.
Additional Perks and Benefits
The AU LIT (Live It Today) Credit Card goes beyond standard features to offer additional perks and benefits that enhance the overall value and appeal of the card. These extra benefits cater to various aspects of a cardholder's lifestyle, providing further convenience and rewards.
- Flexible Feature Selection:
- One of the most significant perks of the LIT Credit Card is the ability to opt-in or opt-out of specific features based on current needs and spending habits. This flexibility allows cardholders to adjust their benefits as their lifestyle and financial situation change, ensuring continuous relevance and value.
- Complimentary Memberships:
- Cardholders are eligible for complimentary 3-month memberships to popular services like ZEE5, Amazon Prime, and Cult.fit. These memberships offer access to a wide range of entertainment and wellness resources, enhancing the everyday life of the cardholder.
- No Annual Fee:
- The AU LIT Credit Card is lifetime free, meaning there is no annual or renewal fee. This cost-saving benefit makes the card more accessible and attractive, especially for budget-conscious users.
- Enhanced Security Features:
- The card comes with advanced security features, including EMV chip technology, which helps protect against fraud and unauthorized transactions. Additionally, cardholders can manage their card settings and security features through the AU 0101 app.
- Global Acceptance:
- The LIT Credit Card is accepted worldwide, making it a convenient choice for international travelers. Whether making purchases abroad or shopping online with international merchants, cardholders can rely on the card's broad acceptance.
- Customizable Cashback and Rewards:
- Beyond the standard cashback categories, users can customize their rewards to focus on specific spending categories that align with their lifestyle, such as dining, travel, or electronics. This tailored approach ensures that cardholders get the most out of their spending.
- Promotional Offers and Discounts:
- Cardholders receive access to exclusive promotional offers and discounts from various partners. These promotions can include deals on travel, dining, shopping, and more, providing additional value and savings.
- Lounge Access:
- The card offers up to 4 complimentary airport lounge visits per quarter, enhancing the travel experience by providing a comfortable and relaxing environment while waiting for flights.
Fees and Charges
The AU LIT (Live It Today) Credit Card offers a competitive fee structure, making it an appealing choice for users who seek value without excessive costs. Below is a detailed breakdown of the fees and charges associated with this card:
- Annual/Renewal Fee:
- Lifetime Free: One of the most significant advantages of the AU LIT Credit Card is that it has no annual or renewal fees. This feature makes the card highly attractive for budget-conscious individuals who want to avoid the recurring costs associated with many other credit cards.
- Cash Advance Limit:
- 20% of the Credit Limit: Cardholders can withdraw cash up to 20% of their total credit limit. This feature provides flexibility in case of emergencies where cash is needed.
- Charges on Revolving Credit:
- 3.49% per Month (41.88% Annually): If cardholders choose to carry a balance on their card, the interest rate on revolving credit is 3.49% per month. This translates to an annual interest rate of 41.88%, which is a crucial consideration for those who might not pay off their balance in full each month.
- Cash Advance Charges:
- 2.5% of Amount Withdrawn, Subject to a Minimum of INR 100: When withdrawing cash using the credit card, a fee of 2.5% of the withdrawn amount is charged, with a minimum fee of INR 100. This fee structure ensures that cash advances remain a viable option in emergencies but encourages prudent use.
- Late Payment Charges:
- The late payment charges are tiered based on the total amount due:
- Less than or Equal to INR 100: No charge
- Above INR 100 and Up to INR 500: INR 100
- Above INR 500 and Up to INR 5,000: INR 500
- Above INR 5,000 and Up to INR 10,000: INR 700
- Above INR 10,000 and Up to INR 20,000: INR 800
- The late payment charges are tiered based on the total amount due:
This tiered structure helps manage late payment fees and encourages timely payments to avoid additional charges.
Comparative Analysis
To understand the value proposition of the AU LIT (Live It Today) Credit Card, it is essential to compare it with other popular credit cards in the Indian market. Here, we will compare it against the SBI SimplyCLICK Credit Card and the HDFC Millennia Credit Card.
AU LIT (Live It Today) Credit Card vs. SBI SimplyCLICK Credit Card
| Feature | AU LIT Credit Card | SBI SimplyCLICK Credit Card |
|---|---|---|
| Annual Fee | Lifetime free | INR 499 (waived on annual spend of INR 1 lakh) |
| Customizable Features | Yes, fully customizable | No |
| Shopping Rewards | 10x or 5x reward points on all transactions | 10x reward points on partner websites (Amazon, BookMyShow, etc.) |
| Milestone Benefits | 5% or 2% cashback on retail spending | e-Voucher worth INR 2,000 on annual spend of INR 1 lakh |
| Fuel Surcharge Waiver | 1% on transactions INR 400 to INR 5,000 | 1% on transactions INR 500 to INR 3,000 |
| Category Cashback | 5% cashback on travel, dining, groceries, apparel, and electronics | No specific category cashback |
| Airport Lounge Access | 4 visits per quarter | No airport lounge access |
| Memberships | 3 months of ZEE5, Amazon Prime, Cult.fit | No memberships offered |
| Interest Rate | 3.49% per month | 3.35% per month |
AU LIT (Live It Today) Credit Card vs. HDFC Millennia Credit Card
| Feature | AU LIT Credit Card | HDFC Millennia Credit Card |
|---|---|---|
| Annual Fee | Lifetime free | INR 1,000 (waived on annual spend of INR 1 lakh) |
| Customizable Features | Yes, fully customizable | No |
| Shopping Rewards | 10x or 5x reward points on all transactions | 5% cashback on Amazon, Flipkart, and other merchants |
| Milestone Benefits | 5% or 2% cashback on retail spending | Milestone benefits not specified |
| Fuel Surcharge Waiver | 1% on transactions INR 400 to INR 5,000 | 1% on transactions INR 400 to INR 5,000 |
| Category Cashback | 5% cashback on travel, dining, groceries, apparel, and electronics | 5% cashback on Amazon, Flipkart; 1% on other spends |
| Airport Lounge Access | 4 visits per quarter | 8 complimentary domestic lounge visits per year |
| Memberships | 3 months of ZEE5, Amazon Prime, Cult.fit | Complimentary membership to Dineout Passport |
| Interest Rate | 3.49% per month | 3.49% per month |
Conclusion and Overall Rating
The AU LIT (Live It Today) Credit Card from AU Small Finance Bank presents a compelling option for those seeking a highly customizable credit card tailored to individual preferences. Its standout feature is the ability to choose and modify benefits according to personal spending habits, making it particularly appealing to Gen Z and Millennials who desire greater control over their financial products.
With no annual fee and a variety of cashback options across different categories, the AU LIT Credit Card offers significant value for users who frequently shop, travel, or dine out. The added benefits of complimentary memberships and airport lounge access further enhance the card's appeal. Additionally, the convenience of managing the card through the AU 0101 app simplifies customization and tracking of rewards, providing a seamless user experience.
The AU LIT Credit Card earns a high rating due to its innovative approach to customization, excellent rewards program, and user-friendly features. It is particularly well-suited for younger demographics who seek control over their credit card benefits and are comfortable managing these through digital platforms. The card's no-fee structure and additional perks further solidify its standing as a competitive offering in the market.
In summary, the AU LIT Credit Card is an excellent choice for those looking to maximize their rewards and enjoy a high degree of flexibility in managing their credit card benefits. Its focus on customization and modern user experience makes it a standout option in the Indian credit card landscape.
