The AU LIT Credit Card’s revolutionary customizable rewards! Will its lifetime-free perks, cashback, and lounge access outshine competitors? Uncover hidden fees, unique benefits, and shocking comparisons in this suspenseful review. Is this India’s ultimate credit card for Millennials? Dive in to find out!
The AU LIT (Live It Today) Credit Card, offered by AU Small Finance Bank, is marketed as India’s first customizable credit card, launched to cater to the dynamic needs of modern consumers, particularly Gen Z and Millennials. Unlike traditional credit cards with fixed benefits, the AU LIT allows cardholders to select and pay for features that align with their lifestyle and spending habits, offering flexibility through the AU 0101 mobile app. This lifetime-free card eliminates annual fees, charging only for activated features, which are valid for 90 days with auto-renewal unless disabled. It targets users seeking tailored rewards, cashback, and lifestyle perks, managed digitally for convenience.
Review
The AU LIT Credit Card stands out for its innovative customization model, allowing users to pick benefits like cashback, accelerated reward points, lounge access, or memberships to services like Amazon Prime or ZEE5. This flexibility addresses the common issue of carrying multiple cards for different perks. However, the feature-based pricing and auto-renewal system require active management to avoid unnecessary costs. While the card offers decent rewards, its redemption value (1 Reward Point = ₹0.25) and feature fees can erode returns compared to competitors with simpler structures. The AU 0101 app is user-friendly, enabling easy feature selection and expense tracking, but some users report inconsistent customer service and complexity in optimizing rewards. Overall, it’s ideal for tech-savvy users who value customization and are diligent about managing features.
- Joining Fees: Nil
- Annual Fees: Nil
- Lifetime FREE Credit Card
- Customize your card according to your needs.
- 10% Instant Discount on Amazon and Flipkart
Rewards and Benefits
The AU LIT Credit Card offers a range of customizable rewards and benefits, activated via the AU 0101 app. Key features include:
- Base Rewards: Earn 1 Reward Point per ₹100 spent on retail transactions (excluding fuel, rent, cash withdrawals, EMI, BBPS, education, and government services). Reward points are redeemable for e-vouchers, merchandise, flight/hotel bookings, or mobile/DTH recharges at ₹0.25 per point, with a ₹99 redemption fee. Maximum 25,000 points per statement cycle, valid for 2 years.
- Accelerated Rewards:
- 10X or 5X Reward Points on online and offline (POS/contactless) domestic/international retail transactions for a fee (₹398 for 1.25% reward rate, ₹598 for 2.5% on all spends).
- Exclusions: Fuel, rent, insurance, EMI, and cash withdrawals.
- Cashback:
- 5% cashback on grocery, apparel, travel, dining, or electronics (max ₹500 per 30 days, min spend ₹7,500) for a fee.
- 2% cashback on retail spends (max ₹1,000 per 30 days, min spend ₹10,000) for a fee.
- Milestone cashback: 5% (max ₹500) for ₹10,000 retail spend per 30 days; 2% (max ₹1,000) for ₹15,000.
- Cashback credited against outstanding dues.
- Fuel Surcharge Waiver: 1% waiver on transactions between ₹400–₹5,000 for ₹49 per 90 days.
- Lounge Access: Up to 4 domestic airport lounge visits per quarter (₹199 for 1 visit, ₹299 for 2 visits, capped at 4 per quarter).
- Memberships: Complimentary 3-month subscriptions to ZEE5 (₹99, min spend ₹5,000 to avoid ₹50 penalty), Amazon Prime (₹199, min spend ₹10,000 to avoid ₹299 penalty), or Cult.fit.
- EMI Options: Convert purchases ≥₹2,000 into EMIs (3–24 months) for ₹199 processing fee plus GST.
- Device Protection: One-year screen damage protection for mobiles/tablets and extended insurance for white goods.
- Fraud Protection: Zero liability up to ₹1.5 lakh or credit limit (whichever is lower) on fraudulent transactions after reporting loss; covers counterfeit, skimming, and online fraud.
Fees and Charges
The AU LIT Credit Card is lifetime-free with no joining or annual fees, but charges apply for activated features and other transactions:
- Feature Fees: ₹49–₹499 per 90 days, auto-renewed unless disabled. Examples:
- 5% cashback on categories: ₹199–₹299 + GST.
- 10X/5X rewards: ₹398 (1.25% reward rate), ₹598 (2.5%) + GST.
- Lounge access: ₹199 (1 visit), ₹299 (2 visits) + GST.
- Fuel surcharge waiver: ₹49 + GST.
- Memberships: ₹99–₹199 + GST.
- Reward Redemption Fee: ₹99 + GST.
- Cash Advance Fee: 2.5% of transaction amount.
- Foreign Currency Markup: 3.49% + GST.
- Interest Rate: 1.99%–3.49% per month (not applicable for 48-day interest-free period, except cash withdrawals).
- Late Payment Charges: Vary by outstanding balance (e.g., ₹100 for ≤₹500, ₹1,200 for >₹50,000).
- GST: 18% on all fees and charges.
- Penalty Fees: ₹50–₹299 for not meeting minimum spend requirements on memberships.
Pros
- Customizable Benefits: Choose rewards, cashback, or perks tailored to spending habits.
- Lifetime Free: No annual or joining fees, ideal for low or sporadic use.
- Flexible Management: AU 0101 app allows easy feature selection, tracking, and disabling auto-renewal.
- Diverse Rewards: Covers groceries, travel, dining, and lifestyle subscriptions.
- Lounge Access: Up to 4 domestic visits per quarter, valuable for travelers.
- Fraud Protection: Zero liability up to ₹1.5 lakh for reported fraudulent transactions.
- EMI Flexibility: Convert large purchases into affordable EMIs.
Cons
- Complex Fee Structure: Feature fees (₹49–₹499 per 90 days) can add up, potentially exceeding ₹14,000 annually if all features are activated.
- Low Redemption Value: 1 Reward Point = ₹0.25, with a ₹99 redemption fee, reducing value compared to peers.
- Auto-Renewal Risks: Features auto-renew unless manually disabled, leading to unexpected charges.
- Category Exclusions: No rewards or cashback on fuel, rent, insurance, EMI, or cash withdrawals.
- Limited Lounge Access: Capped at 4 visits per quarter, restrictive for frequent travelers.
- High Foreign Markup: 3.49% + GST, less competitive for international spends.
- Management Overhead: Requires active monitoring to optimize rewards and avoid penalties.
Comparison with Peers
Below is a detailed comparison of the AU LIT Credit Card with peers: SBI Cashback Card, Axis Ace, and ICICI Bank Mine Credit Card, based on key parameters.
|
Parameter |
AU LIT Credit Card |
SBI Cashback Card |
Axis Ace Credit Card |
ICICI Bank Mine Credit Card |
|
Lifetime free |
₹999 (waived on ₹2L spend) |
₹499 (waived on ₹2L spend) |
₹49/month (waived on ₹10,000 spend) |
|
|
Reward Structure |
1 RP/₹100 (₹0.25/RP); 5X/10X for fees (₹398–₹598) |
5% cashback on online spends, 1% offline |
2% cashback on all spends, 5% on select partners |
1% cashback (online), 0.25% (offline) |
|
Cashback |
5% (select categories, ₹500 cap), 2% (retail, ₹1,000 cap) for fees |
5% on online spends (no cap), 1% offline |
5% on Amazon, Flipkart, etc.; 2% others |
1% online, 0.25% offline |
|
Redemption Fee |
₹99 + GST |
None |
None |
None |
|
Lounge Access |
Up to 4 domestic visits/quarter (₹199–₹299) |
None |
4 domestic visits/year |
None |
|
Fuel Surcharge Waiver |
1% (₹400–₹5,000, ₹49 fee) |
1% (₹100/month cap) |
1% (₹400–₹4,000) |
None |
|
Foreign Markup Fee |
3.49% + GST |
3.5% + GST |
2% + GST |
3.5% + GST |
|
Interest-Free Period |
Up to 48 days |
Up to 50 days |
Up to 50 days |
Up to 48 days |
|
EMI Conversion |
₹2,000+ (₹199 fee) |
₹2,500+ (varies) |
₹2,500+ (varies) |
₹5,000+ (varies) |
|
Additional Benefits |
ZEE5, Amazon Prime, Cult.fit (3 months, fees apply) |
None |
Google Pay cashback, dining discounts |
Subscription-based rewards |
|
Eligibility |
Age 21–60 (salaried), 25–65 (self-employed), Indian resident |
Age 21–60, stable income |
Age 18–70, stable income |
Age 18+, stable income |
|
Best For |
Customizable rewards, tech-savvy users |
Online shoppers |
General cashback seekers |
Budget-conscious users |
Recommendations
The AU LIT Credit Card is best suited for:
- Tech-Savvy Users: Those comfortable managing features via the AU 0101 app and willing to monitor auto-renewals.
- Frequent Shoppers: Ideal for targeted spending in groceries, apparel, or travel with 5% cashback (though capped).
- Occasional Travelers: Up to 4 lounge visits per quarter are valuable for infrequent flyers.
- Young Professionals: Gen Z and Millennials who value flexibility and lifestyle perks like ZEE5 or Amazon Prime memberships.
Considerations
- Optimize Features: Activate only high-value features (e.g., 5% cashback on groceries for consistent ₹10,000 monthly spends yields ~9% return after fees). Avoid enabling all features to prevent high costs (up to ₹14,000/year).
- Compare Alternatives:
- SBI Cashback Card: Better for online shoppers with 5% uncapped cashback and lower fees (₹999, waivable).
- Axis Ace: Simpler 2% cashback on all spends, 5% on select partners, and lower foreign markup (2%).
- ICICI Bank Mine: Affordable for low spenders (₹49/month, waivable), but lower rewards.
- Avoid for High International Spends: 3.49% markup is less competitive than Axis Ace (2%) or premium cards.
- Monitor Auto-Renewal: Disable unwanted features to avoid recurring charges.
Final Verdict
Choose the AU LIT if you prioritize customization and can maximize specific category spends (e.g., groceries, travel). For simpler, higher-value cashback, consider SBI Cashback or Axis Ace. Always review feature costs versus rewards to ensure value.
With over 15 years of experience in Banking, investment banking, personal finance, or financial planning, Dkush has a knack for breaking down complex financial concepts into actionable, easy-to-understand advice. A MBA finance and a lifelong learner, Dkush is committed to helping readers achieve financial independence through smart budgeting, investing, and wealth-building strategies, Follow Dailyfinancial.in for practical tips and a roadmap to financial success!
