There are a plethora of lifestyle credit cards offered by a number of banks and financial institutions throughout the country. These cards are designed to cater to the various whims and fancies of different customers.
|Credit Card Variant||Joining Fee|
|Kotak Bank PVR Platinum Credit Card||Nil|
|HDFC Regalia First Credit Card||Rs. 1000|
|Axis Bank Privilege Credit Card||Rs. 1500 (NIL for Priority Customers)|
|HDFC Diners Club Black Credit Card||Rs. 10,000|
Lifestyle credit cards are one of the most popularly procured credit cards in India. As the name suggests, the cards work to enhance the cardholder’s lifestyle choices with respect to food, dining, shopping, and so on. Lifestyle credit cards offer a number of perks that match the lifestyle requirements of the consumers.
If you’re looking for a credit card that provides whole lot of benefits covering major areas of your life, then you should ideally go for a lifestyle credit card. With changing lifestyles and preferences, credit card issuers are adding more and more privileges to offer credit cards with comprehensive lifestyle benefits.
A detailed look at the kind of benefits offered by lifestyle credit cards would help you understand the cards better.
Travel savings: With travel becoming an essential part of modern day life, a lifestyle credit card would certainly include a benefit related to travel. It could be in the form of offering complimentary air miles, discounts on air tickets booking, hotel booking, membership to frequent flyer programmes, etc. You will also be allowed to redeem reward points for plane tickets, hotel bookings, etc.
Dining privileges: Dining out has become an integral part of our lifestyle. People will be eagerly waiting for the weekends to explore new dining destinations every week. To provide exclusive benefit to all such foodies, lifestyle credit cards would certainly offer privileges on dining spends including discounts at partner restaurants across India, cashback at certain restaurants, complimentary dishes, chance to become a chef and lot more.
Airport lounge access: As part of the travel benefit, lifestyle credit cards also offer complimentary access to airport lounges at both domestic and international airports located across India. Cardholders can also get complimentary membership to various priority pass programmes that in turn provide exclusive lounge visits, benefits to add-on cardholders.
Health and wellness benefits: As health and wellness play a key role in our day-to-day life, a few lifestyle credit cards do provide related benefits by partnering with healthcare and wellness professionals.
Concierge services: Vacation in a foreign land is not as easy as it is in our own country. Unless, everything is booked and planned, we cannot make memories out of the trip. With lifestyle credit cards offering exclusive concierge services, all your booking needs will be taken care, while you enjoy your vacation. Some of the services included in concierge service are dining referral and reservation, gift delivery assistance, car rental referral and assistance, hotel referral and booking assistance, and other business services.
Savings on fuel spends: One compulsory expense most of us have on a weekly basis is fuel purchase. Due to the fuel surcharge levied on card transactions, many of us tend to make payments in cash. With lifestyle credit cards, we can avoid paying the surcharge, as it is being waived by most of the credit cards when used to make fuel transactions.
Movie ticket offers: After travel, entertainment plays an important part to make us feel refreshed. To cover this aspect, lifestyle credit cards offer various discounts on movie tickets and other entertainment programmes. It could be a buy one, get one movie ticket or a special discount on ticket price, cardholders can plan their weekend movie at much lesser price.
Insurance cover: One interesting aspect of lifestyle credit cards is the comprehensive insurance protection. Most cards offer coverage for air accidental death, emergency hospitalisation abroad, loss of card, loss of travel documents, loss of check-in baggage, etc.
The Kotak PVR Platinum credit card is meant for all movie buffs and those who live for the extravaganza that movies provide. When customers pay for their purchases through their Kotak PVR Platinum credit card, they can avail upto 2 PVR movie tickets every month, for free. When they spend over Rs.7,500 per month, they will receive Coupon Codes that can redeemed for free PVR movie tickets that can used for any show, across every cinema.
One of HDFC’s unique credit card offerings, the HDFC Regalia First credit card offers a plethora of exciting benefits and privileges.
This premium credit card by Axis Bank provides customers with a number of travel related benefits along with loyalty privileges that have been accorded to cardholders. Air miles, lounge access at airports and other exclusive offers on fuel and entertainment can also be availed in Axis Bank Privilege Credit Card
A credit card with one of the best Reward programs, HDFC Bank Diners Club Black credit card offers a number of benefits regarding dining, travel and golf. This lifestyle credit card comes with a plethora of benefits and features.
The eligibility for lifestyle credit cards is different for different cards. Hence, it is recommended to check the bank’s website to know the eligibility criteria specific to the bank and the credit card.
Some basic documents required to apply for a lifestyle credit card are provided below. However, banks may request for some other documents based on the card type.
Applying for a lifestyle credit card is simple and easy with the online application process. Once you have selected the credit card that matches your lifestyle requirements, you can visit the bank’s website, go to the lifestyle credit card page and find the ‘Apply’ option to submit an online application.
Once the bank receives the application, it reviews the same and if your profile matches the eligibility, you will receive a call in 3-4 working days. The further application process will be informed to you. Banks typically take 7-10 days to process a credit card, provided the applicant clears all the verification checks.
With a lifestyle credit card, you can receive a wide range of benefits across various categories which can include access to privileges not available to everyone, golf course access, complimentary benefits across other categories, etc.
It is important that you research adequately before choosing a lifestyle credit card. All banks offer lifestyle credit cards and it is essential that you understand your spending habits and then choose a credit card. You can apply for a lifestyle credit card on BankBazaar or directly through the bank’s website.
With some credit cards, a complimentary concierge program is alloted as a benefit where you will have 24/7 access to a concierge who will assist you at any time. Concierge services help you in booking flight tickets, hotel reservations, restaurant reservations, etc.
It is advised that you maintain a credit score of 750 and above to apply for a lifestyle credit card. Having a higher score enables you to receive additional benefits from the bank including faster application approvals.
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