IndusInd Bank Nexxt Credit Card – Rewards, Fees & Eligibility

Rewards

Base reward rate: 1 point per ₹150 on most spends, effectively 0.5% cashback
Redemption options: cash_credit, Krisflyer Miles
Redemption value: 1 Pt = ₹400.00

Becomes a lifetime free card after a one-time joining fee of ₹10,000, as there is a ₹0 annual fee from the second year onwards.
Offers a strong welcome package with vouchers from premium brands like Montblanc, The Postcard Hotel, and a complimentary stay at Oberoi Hotels.
Provides a generous entertainment benefit of 'Buy 1, Get 1' on movie tickets through BookMyShow, available twice per month.
Includes a comprehensive insurance package with a ₹25 Lakh air accident cover and travel insurance covering lost baggage up to ₹1 lakh.
The card is made of metal, which adds to its premium feel and durability, a feature not common across all cards in this fee range.

Completely lacks complimentary airport lounge access, a standard and highly expected feature for a card with a ₹10,000 joining fee.
The reward rate is extremely low at 1 point per ₹150, which translates to an effective cashback rate of only 0.5% (at ₹0.75 per point).
Charges a high foreign currency markup of 3.50%, making it expensive for international transactions compared to other premium cards.
Airmile redemption is severely restricted, with points transferable only to a single partner, KrisFlyer Miles.
The milestone benefit is very poor, offering only 2,400 reward points (worth ₹1,800) for an exceptionally high annual spend of ₹36 lakhs.

Consumers seeking premium lifestyle benefits, movie discounts, and comprehensive insurance coverage with a high joining fee.