Synopsis: Punjab National Bank has introduced the RuPay Metal Credit Card LUXURA, a super premium offering that comes with a potential ₹50 lakh credit limit and ₹10,000 worth reward points as a welcome benefit. Read on for a detailed look at features, fees, eligibility, and does it truly qualify as a super premium credit card.
Public sector lender Punjab National Bank has expanded its premium credit card portfolio with the addition of the PNB RuPay Metal Credit Card LUXURA, a metal variant in the super premium segment.
The card offers a credit limit of up to ₹50,00,000 along with reward points worth ₹10,000 as a welcome benefit which makes it one of the highest limit RuPay credit cards currently available from a PSU bank. But what does this offer actually mean for customers? Here is a complete breakdown.
PNB RuPay Metal Credit Card LUXURA
- Joining Fee: ₹9000 + taxes
- Annual Fee: ₹7500 + taxes
- Annual Fee Waiver: Waivable on an annual spend of ₹8,00,000
- Joining Fee Waiver: Waivable on a spend of ₹2,50,000 within three billing cycles from the date of issuance.
- Forex Markup: 0%
- Card Type: Super Premium Metal Card
- Best Suited For: Affluent Users
Does it Really Provide a Credit Limit of ₹50,00,000?
Yes, the credit limit indeed is ₹50 lakh. However, this limit is the maximum sanctioned limit and not a guaranteed amount for every applicant. Thus, upon applying if one meets the preferred criteria the limit can be maximised to the last limit.
The limit would depend on income level, credit score and other factors. High-income professionals, business owners, and customers with an existing strong relationship with PNB are more likely to qualify for higher limits.
How to Avail ₹10,000 Worth Welcome Reward Points
The card offers reward points worth ₹10,000 as a welcome benefit. This offer is availed by users upon spending of ₹50,000 in the initial 90 days of card issuance. Upon successfully reaching the spend criteria the user will be gifted 40,000 reward points, where 4 reward points equals to ₹1.
Important Fees and Charges
- Finance Charges: 2.95 % (35.89 % Annually)
- Foreign Currency Mark-up: NIL
- Cash Withdrawal Fees: 2% of cash withdrawn
Late Payment Charges:
- NIL, if total payment due is up to ₹1000
- ₹ 500 if total payment due is between ₹1001 and ₹ 5,000
- ₹ 600 if total payment due is between ₹ 5001 and ₹10,000
- ₹750 if total payment due is above ₹10,000
Also read: National Pension Scheme vs Unified Pension Scheme: Which Plan Offers Better Retirement Benefits?
Luxury Offerings
- 2 +1 complimentary night stay at ITC in a calendar year
- 1+1 Dining set menu at signature ITC Restaurant
- 1+1 Spa for resident customer ITC (60 minutes) in a year
- HoteLux membership (valid across luxury hotels and resorts)
- Unlimited complimentary domestic and international airport lounge access
Other Rewards & Benefits
- 10,000 milestone reward points on spend of ₹5 lakhs annually
- 3X Reward Points on travel and dining expenses
- 4 rewards points (Worth ₹1) for every ₹100 spent
- 1% fuel surcharge waiver on transaction of amount between ₹500 to ₹4000
- 24/7 Concierge for domestic golf reservations, car rentals, and travel reservation assistance, etc.
- 24/7 Concierge for International lost passport or lost luggage, embassy and hospital assistance etc.
- 4 domestic complimentary golf lessons/rounds in a year (capped at 1 per quarter)
- Buy 1 get 1 (BOGO) ticket up to ₹500 (capped at once a month)
Insurance Coverages:
- Personal Accidental Insurance coverage of ₹50 Lakhs
- Air Accidental Insurance coverage of ₹1 Cr
- Purchase Protection of ₹2 lakhs
- Travel Insurance Baggage Loss coverage of ₹20,000
Comprehensive Table for Quick Overview
| Features | Details |
| Joining Fee | ₹9,000 + taxes |
| Joining Fee Waiver | ₹2,50,000 spend in first 3 billing cycles |
| Annual Fee | ₹7,500 + taxes |
| Annual Fee Waiver | On ₹8,00,000 annual spend |
| Card Type | Super Premium Metal Rupay |
| Welcome Benefit | ₹10,000 worth 40,000 reward points |
| Suitable For | Affluent users & High Income Users |
The PNB RuPay Metal Credit Card LUXURA does seem like an incredible luxury card that also comes with a high credit limit . The ₹50 lakh potential credit limit and ₹10,000 welcome reward benefit certainly add to its appeal.
However, the high joining/annual fees along with the waiver criterion indicates that it is best suited for affluent customers who can comfortably meet spending milestones.
The customers can justify the fee through benefits and annual spending of ₹8 lakh or more. One note would be that, before applying one must carefully compare the fee and other benefits with other premium credit cards in the market. This would rule out the ones which are not suited for you and also will help decide whether this card is actually for you.
