When you think about credit cards, a few things instantly come to mind. Rewards, perks, and, of course, the all-important annual fees. But what if I told you there was a credit card that came with all the perks of an elite card but without the recurring fees? Yes, that’s the allure of the IndusInd Bank Legend Credit Card, especially when it’s offered as Lifetime Free (LTF). But is it still being issued as LTF? And most importantly, is it worth getting, especially for someone like you who is self-employed with a solid CIBIL score? Let’s dive in and explore!
The Legend of the IndusInd Bank Legend Credit Card
It all began a few years ago when IndusInd Bank introduced the Legend Credit Card—a premium card that promised high-end benefits to its holders. Travel perks, cashback rewards, and lifestyle advantages were a few of the things that made this card a coveted asset. But what truly caught attention was the Lifetime Free (LTF) offer that allowed eligible customers to enjoy these benefits without paying an annual fee.
It wasn’t long before the word spread, and people began eyeing this card. Self-employed professionals, businessmen, and high-net-worth individuals—everyone was interested. After all, who wouldn’t want a premium credit card that didn’t come with the usual price tag?
Is IndusInd Bank Still Offering the Legend Credit Card as Lifetime Free (LTF)?
Now, you’re probably asking: Is this card still available as LTF? Well, the answer isn’t as straightforward as you might expect.
Changes Over Time
Initially, IndusInd Bank marketed the Legend Credit Card as an exclusive, no-fee card for select customers. It was a golden opportunity, especially for those seeking a zero MAB (Minimum Average Balance) savings account while enjoying the perks of a top-tier credit card.
However, over time, the LTF offer began to change. There were reports suggesting that the LTF offer was being made available on a more selective basis. As banks became more cautious in offering high-end products, some of the attractive benefits, such as Lifetime Free status, started to be reserved for those with strong financial profiles. This could include high CIBIL scores, good account history, or a premium banking relationship.
Current Scenario
As of now, IndusInd Bank continues to issue the Legend Credit Card but not to everyone. The LTF status might still be available, but typically it is offered to select customers. For those like you—self-employed, with a CIBIL score of around 775 and no inquiries in the past year—there’s a good chance you could qualify for this offer, but it’s always a good idea to reach out to the bank directly for the most up-to-date information.
Is the IndusInd Legend Credit Card Worth It?
Now, let’s get to the big question. Is the IndusInd Bank Legend Credit Card worth it, even if you aren’t getting it as LTF?
The short answer is: Yes, but only if you’re clear about what you want from it.
Premium Perks & Benefits
The Legend Credit Card comes loaded with a plethora of premium benefits, making it a desirable card for those who are looking to maximize their lifestyle. Some of the key benefits include:
- Airport Lounge Access: Enjoy complimentary access to premium airport lounges across India and globally. If you’re a frequent traveler, this alone makes the card valuable.
- Exclusive Rewards: Earn reward points on every purchase. These points can be redeemed for a variety of goods and services.
- Cashback: Get cashback on your spending. While cashback isn’t always guaranteed, it’s an added benefit for everyday purchases.
- Travel Benefits: For someone like you, who is self-employed and likely on the go, the travel perks can be particularly beneficial—think discounts on hotel bookings, flight bookings, and even concierge services.
If you’re someone who values luxury experiences, the Legend Credit Card might be the right fit. And the fact that it’s Lifetime Free (LTF) for certain customers makes it even more enticing.
How Hard is it to Get Approved for the Legend Credit Card?
You might be wondering, with all these benefits, is the Legend Credit Card tough to get approved for?
For someone with a CIBIL score of 775, getting approved should be relatively easy, but a few factors come into play.
- Income: Since you’re self-employed, it might require you to submit proof of income or business turnover to demonstrate your ability to repay the credit you take.
- No Previous Enquiries: The fact that you have no recent credit inquiries will work in your favor. A clean credit history is a major plus when applying for premium cards.
- Relationship with the Bank: While you don’t have an existing relationship with IndusInd Bank, this may not pose a significant issue. However, if you have accounts with other banks that offer similar perks, IndusInd may take that into consideration. Having a relationship with a bank often increases your chances, but it’s not a dealbreaker.
- Other Documentation: The bank may ask for additional documentation to verify your identity, address, and business details.
Is it Easy to Get Approved?
With a solid CIBIL score and a no inquiry history, you’re in a great position. However, you must ensure your income documentation is up to date and aligns with what the bank requires. IndusInd Bank is known for offering premium cards to well-established individuals, but as a self-employed person, you’ll need to provide comprehensive details to show your financial stability.
Why You Should Get the IndusInd Bank Legend Credit Card
Alright, let’s break this down. Why should you even bother getting this card?
The Zero MAB Savings Account
For someone looking for a zero MAB savings account, this card gives you access to that perk. A zero Minimum Average Balance (MAB) requirement is rare in today’s banking environment, especially with banks that offer premium services. This is a massive bonus for self-employed individuals like you, who often find it difficult to maintain a high balance.
Lifetime Free Status
If you’re fortunate enough to qualify for the Lifetime Free version, this card is a steal! It’s almost like getting all the perks of a high-end credit card without paying the usual hefty annual fees. As someone self-employed, you’ll find the lack of recurring fees gives you more room to allocate funds elsewhere.
High-Quality Perks
Let’s not forget the rewards, cashbacks, and lifestyle benefits. Imagine this: you’re traveling for business, and you breeze through the airport lounge with your IndusInd Legend Credit Card. You book a hotel, and thanks to your card, you get a special discount. All of this for no annual fee? That’s a hard offer to turn down.
Easy to Maintain
Unlike some credit cards that require you to spend a specific amount each month to maintain your LTF status, the IndusInd Legend doesn’t have such rigid requirements. If you’re someone who spends sensibly and enjoys the rewards, it’s easy to maintain.
Frequently Asked Questions
Is IndusInd Bank still issuing the Legend Credit Card as LTF?
The issuance of the Legend Credit Card under the LTF (Lifetime Free) scheme has seen changes over time. It’s best to check with IndusInd Bank’s official website or contact their customer service to get the most up-to-date information.
What does the ‘LTF’ designation mean for the Legend Credit Card?
LTF typically stands for “Lifetime Free,” meaning that after meeting certain conditions, you might not have to pay renewal fees throughout the life of the card. However, specific benefits and fee waivers can vary, so it’s important to review the current terms and conditions.
Is the Legend Credit Card worth applying for if it’s offered as LTF?
The value of the card depends on your personal spending habits and the benefits that matter most to you. If the card’s rewards, privileges, and fee structure align with your financial lifestyle, it can be a worthwhile choice. Always compare its features with other premium cards to determine if it meets your needs.
What are the typical benefits and eligibility criteria for this card?
Benefits often include premium rewards, exclusive offers, and concierge services. Eligibility usually requires a good credit score and proof of income, among other criteria. Make sure to review the current eligibility requirements on the bank’s website before applying.
How does the Legend Credit Card compare to other premium cards in the market?
The Legend Credit Card is positioned as a premium product with exclusive benefits. When comparing it to other premium cards, consider factors such as annual fees, reward structures, redemption options, and additional perks. Evaluating these features in light of your own spending habits will help determine if it’s the best option for you.
Conclusion
To sum it up: the IndusInd Bank Legend Credit Card is definitely worth considering, especially if you value luxury perks and a zero MAB savings account. The Lifetime Free (LTF) status makes it even more attractive, and based on your CIBIL score and financial history, you have a strong chance of getting approved.
The benefits, including exclusive rewards, airport lounge access, and cashbacks, are fantastic for someone who is often on the move—like you. It could serve as an excellent tool for your self-employed lifestyle.
