AU Small Finance Bank launches credit card that lets customers choose features

AU Small Finance Bank announced on Wednesday the launch of the AU Bank LIT (Live-It-Today) credit card, which allows customers to choose the features they want on their card and also determine the period for which they want those features.

Instead of buying multiple cards for different categories such as travel, shopping, etc., the customer can choose the categories of his preference among this offer and can also switch these functions whenever he wants, according to the bank.

“While credit card companies offer attractive products in various categories, it is often difficult for customers to find the combination of all these features in a single card. This forces them to opt for multiple credit cards that offer specific category rewards, such as a travel card for maximizing travel-related expenses or co-branded cards for shopping on specific ecommerce sites. With the LIT credit card, the bank has given customers the power to choose these features – all categories in one card. Furthermore, they will also be given the freedom to enable or disable these features according to their changing lifestyle,” said AU Small Finance Bank in its statement.

Customers can activate each feature in real time for a small convenience fee, and the default validity period for each feature is 90 days. Furthermore, cardholders can track their earnings from transactions made through the card on the AU0101 application.

LIT credit card offers five categories of features, including access to one or two lounges per quarter (customer must choose), milestone benefits, free membership to various OTT and lifestyle services, higher reward points for online and POS transactions and other smaller rewards, such as exemption from fuel surcharge and cashback on groceries, among other things.

“We quickly noticed that the digitally savvy and GenZ consumers needed more control over the products they use. This led to the evolution of the customizable LIT credit card that brings together the features of many credit cards in one card. We will continue to launch many such innovative products and stay true to our mission to be the agent of change through our mission, Badlaav Humse Hai,” said Sanjay Agarwal, MD and CEO of AU Small Finance Bank.

AU Bank launched its first line of credit cards last year. Since launching their first credit card last year, the bank claims to have enrolled more than 2.3 lakh credit card customers from more than 200 districts of Tier 2 and Tier 3 cities.

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