AU Small Finance Bank, one of the fastest-growing retail banks, announced the launch of the AU bank LIT (Live-It-Today) credit card on Wednesday. The AU bank LIT credit card allows customers to select the features they want in their cards and decide the period for which they want them.
Credit card companies offer attractive products in various categories, but it is difficult for customers to find the combination of all features in one single card. Thus, it forces the customers to opt for multiple credit cards providing specific category rewards like travel cards for maximising travel-related spending or co-branded cards for shopping on particular e-commerce sites.
However, with the AU bank LIT credit card, the customers have the power to opt for the categories of their preference and choose features for different categories, such as shopping, travel, etc., in one card. Further, they also have the freedom to switch off or on these features according to their changing lifestyle requirements.
Customers can activate any feature on the AU bank LIT credit card in real-time for a small convenience fee, and each feature’s default validity period is 90 days. The LIT credit card offers five categories of features, including milestone benefits, one or two lounge access per quarter, free membership to various lifestyle and OTT services, and higher reward points for POS and online transactions. It also includes smaller rewards, such as cashback on groceries, fuel surcharge waiver, etc.
The cardholders can track their earnings or savings daily through a dedicated app to maximise their benefits. The LIT credit card gives the cardholders complete control of its offers and the fees they pay for such offers. It saves the multitudes of annual or renewal fees for benefits the cardholders do not use.
Sanjay Agarwal, MD and CEO of AU Small Finance Bank, stated that they observed that the GenZ and digitally-savvy consumers needed more control over the products they use. It led to the evolution of a customisable LIT credit card which brings many features into a single card. He also stated that the AU Small Finance Bank would continue launching many innovative products.
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