IndusInd Bank PAYBACK Credit Card vs SBM Magnet Credit Card

• Welcome Gift includes getting rewarded with 1000 PAYBACK points as a Welcome Bonus and availing 10% Discount at Big Bazaar, Central, e-Zone, FBB, Brand factory & more with complimentary Future Privilege Membership
• 1% fuel surcharge across all petrol pumps in India
• Auto assist
• Complimentary personal air accident insurance cover of up to Rs 25 lakh
• Avail ‘Total Protect’ facility which is a first-of-its-kind program that covers the individual for an amount equal to the credit limit on its card 

• FD backed credit card helping to build credit score while earning unlimited magnet coins as rewards
• Enjoy a lifetime-free credit card with no renewal fees
• No documents or income verification required. Just a simple application and guaranteed approval
• Welcome Benefit: Receive 5,000 ZET Coins valued at Rs. 500. These coins can be used to purchase vouchers for popular brands like Amazon, Flipkart, and Swiggy
• Save smart with up to 7% interest on your FD - all insured by RBI
• Get 5% Cashback/Rewards on Top Brands like Amazon, Flipkart, Myntra, Domino and more credited as real Cashback that can be directly transferred to your bank account
• 8% Rewards on Flipkart
• 20% Rewards on Myntra
• Up to 15% Rewards on All Major Platforms
• Enjoy up to 20% savings on Swiggy, Zomato, MakeMyTrip, BookMyShow, and many more
• 3 Fast-track your approval process
• RuPay Credit Card- Instantly link to UPI apps
• Enjoy up to 45 days of interest-free credit - pay later with zero interest
• 1% Fuel Surcharge Waiver

Pros

• Avail exciting rewards on dining, shopping, entertainment and more: 

1. Get 5 PAYBACK Points on every Rs.100 spent on groceries and shopping
2. Relish 5 PAYBACK Points on every Rs.100 spent on dining delights
3. Get 20 PAYBACK Points on every Rs. 100 spent on movie bookings
4. While buying utilities, purchasing insurance and other miscellaneous items, except fuel, get 2 PAYBACK Points on every Rs. 100 spent

• Gain privileges of doing free shopping when redeeming PAYBACK Points. Categories for this include movie tickets on BookMyShow.com, grocery from Big Bazaar, a shopping voucher from VoucherWorld, or for any product of the cardholder’s choice from the PAYBACK Rewards Catalogue and more
• Avail 500 PAYBACK Points on spending Rs. 20,000 or more in a month. Avail 4000 PAYBACK Points on spending Rs. 2,00,000 or more in a membership year

Cons

• No Airport Lounge Access 
• No Golf Privileges 

Pros

• FD backed credit card helping to build credit score while earning unlimited magnet coins as rewards
• Enjoy a lifetime-free credit card with no renewal fees
• Get 5% Cashback/Rewards on Top Brands like Amazon, Flipkart, Myntra, Domino and more credited as real Cashback that can be directly transferred to your bank account

Cons

• No travel benefits
• No golf benefits
• No complimentary domestic or international airport lounge access